Social Networking - Belgium

Belgium

In 2022, the projected total revenue for the Social Networking market in Belgium is expected to reach US$226.10m.
This indicates a significant growth potential for the market in the country.
Looking ahead, the market is projected to experience an annual growth rate (CAGR 2022-2027) of 4.56%, leading to a projected market volume of US$297.00m by 2027.
Within the Social Networking market in Belgium, the revenue from in-app purchases (IAP) is projected to reach US$29.13m in 2022.
This revenue stream demonstrates the willingness of users to make purchases within social networking applications.
The revenue generated from paid apps in the Social Networking market is also expected to contribute to the industry's growth, with a projected value of US$0.10m in 2022.
This indicates that there is a demand for paid applications within the social networking segment.
Furthermore, advertising revenue in the Social Networking market is projected to reach US$196.90m in 2022.
This revenue stream highlights the importance of advertisements as a source of income for social networking platforms in Belgium.
In terms of user engagement, the number of downloads in the Social Networking market is projected to reach 13.98m downloads in 2022.
This demonstrates the popularity and widespread usage of social networking applications among Belgian users.
When examining the average revenue per download, it is currently estimated to be US$16.18.
This metric provides insights into the profitability of each download for companies operating within the Social Networking market in Belgium.
A global comparison reveals that the highest revenue is generated in China, with a projected value of US$49.67bn in 2022.
This highlights the immense size and potential of the social networking market in China compared to other countries, including in Belgium.

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.