Social Networking - Central & Western Europe
Central & Western Europe- The Social Networking market in Central & Western Europe is expected to witness significant growth in the coming years.
- According to projections, the total revenue in this market is estimated to reach US$10.07bn by 2022.
- This indicates a promising future for the industry in the region.
- Furthermore, the market is anticipated to maintain a steady annual growth rate of 4.02% from 2022 to 2027, resulting in a projected market volume of US$13.13bn by 2027.
- This growth trajectory highlights the increasing popularity and demand for social networking platforms in the region.
- In terms of revenue streams, the in-app purchase (IAP) segment is projected to generate US$944.70m in 2022.
- This indicates the willingness of users to spend on additional features and services within social networking applications.
- Similarly, the paid app revenue in the Social Networking market is expected to reach US$3.99m in 2022.
- This demonstrates the potential for monetization through paid applications within this market segment.
- Advertising revenue is also expected to play a significant role, with projections indicating that it will reach US$9.12bn in 2022.
- This highlights the importance of advertising as a revenue source for social networking platforms in Central & Western Europe.
- Moreover, the number of downloads in the Social Networking market is projected to reach 325.80m downloads in 2022.
- This showcases the widespread adoption of social networking applications in the region.
- Currently, the average revenue per download is estimated to be US$30.92.
- This metric helps gauge the monetization potential of each user and highlights the value that social networking platforms can derive from their user base.
- It is worth noting that when comparing the global landscape, China leads in terms of revenue generation, with projections indicating US$49.67bn in 2022.
- This showcases the immense market size and potential of the Chinese social networking market.
- Overall, the Social Networking market in Central & Western Europe is poised for growth, with various revenue streams and a substantial user base driving its expansion.
- Key regions:
- China,
- Europe,
- Asia,
- South Korea,
- India
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).
