Social Networking - Australia & Oceania

Australia & Oceania

The Social Networking market in Australia & Oceania is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach US$2.40bn in 2022.
This figure is expected to continue growing at an annual rate of 4.70% (CAGR 2022-2027), resulting in a projected market volume of US$3.11bn by 2027.
Within the Social Networking market, various revenue streams contribute to its overall growth.
In-app purchase (IAP) revenue is projected to reach US$225.40m in 2022, demonstrating the increasing popularity of in-app purchases among users.
Additionally, paid app revenue is expected to reach US$0.42m in the same year, indicating the willingness of users to pay for premium features or services.
Advertising revenue also plays a significant role in the Social Networking market.
It is projected to reach US$2,172.00m in 2022, highlighting the lucrative nature of advertising within this industry.
As the number of users and engagement on social networking platforms continue to grow, advertisers are drawn to these platforms to reach their target audience effectively.
Furthermore, the number of downloads in the Social Networking market is expected to reach 33.35m downloads in 2022, reflecting the popularity and widespread adoption of social networking applications.
The average revenue per download is predicted to amount to US$71.90, underscoring the revenue potential for each user engaging with social networking platforms.
In a global comparison, it is worth noting that in China generates the highest revenue in the Social Networking market, with a projected revenue of US$49.67bn in 2022.
This showcases the immense size and market dominance of in China in the social networking industry.
Overall, the Social Networking market in Australia & Oceania is poised for growth, with various revenue streams contributing to its expansion.
The projections indicate a positive outlook for the market, driven by factors such as increasing user engagement, in-app purchases, advertising opportunities, and a significant number of downloads.

Key regions: China, Europe, Asia, South Korea, India

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.