Social Networking - Worldwide
Worldwide- Total revenue in the Social Networking market is projected to reach US$122.60bn in 2022.
- Total revenue is expected to show an annual growth rate (CAGR 2022-2029) of 7.16%, resulting in a projected market volume of US$206.80bn by 2029.
- In-app purchase (IAP) revenue in the Social Networking market is projected to reach US$13.51bn in 2022.
- Paid app revenue in the Social Networking market is projected to reach US$25.94m in 2022.
- Advertising revenue in the Social Networking market is projected to reach US$109.10bn in 2022.
- The number of downloads in the Social Networking market is projected to reach 11.19bn downloads in 2022.
- The average revenue per download currently is expected to amount to US$10.96.
- A global comparison reveals that most revenue is generated China (US$49.67bn in 2022).
Definition:
The Social Networking market contains apps that allow its users to stay connected and up-to-date about the lives of family and friends. Most of these are communication apps that attempt to outperform the others in terms of reliability and video quality, and each app boasts its unique features. For example, Signal emphasizes privacy and guarantees that sensitive personal information will not be shared with third parties. Facebook has the largest social media network and has developed the most advanced algorithms to understand its users and their relationships.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
