Social Networking - Kenya

Kenya

The Social Networking market in Kenya is projected to reach a total revenue of US$12.94m in 2022.
This represents a significant growth opportunity for the country's digital economy.
Looking ahead, the market is expected to continue its upward trajectory with an annual growth rate of 5.11%, leading to a projected market volume of US$17.36m by 2027.
Within the Social Networking market, in-app purchase (IAP) revenue is projected to reach US$2.18m in 2022.
This indicates a growing trend of users engaging with and making purchases within social networking platforms.
Additionally, paid app revenue is expected to reach US$0.06m in 2022, further highlighting the monetization potential of social networking services.
Advertising revenue, another key source of income in the Social Networking market, is projected to reach US$10.70m in 2022.
This demonstrates the attractiveness of social networking platforms as advertising channels, allowing businesses to reach a wide audience in Kenya.
Furthermore, the number of downloads in the Social Networking market is projected to reach 10.97m downloads in 2022.
This indicates a strong demand for social networking services in Kenya, with users actively engaging with and downloading these platforms.
Currently, the average revenue per download is expected to amount to US$1.18.
This metric provides insights into the profitability of social networking services in Kenya, showcasing the value generated per user download.
In a global comparison, it is noteworthy that in China generates the highest revenue in the Social Networking market, projected to reach US$49.67bn in 2022.
This highlights the massive scale and economic potential of the Chinese market in the social networking sector.
Overall, the Social Networking market in Kenya presents a promising landscape for revenue growth, with various revenue streams such as in-app purchases, paid apps, and advertising contributing to the market's expansion.
As the digital economy continues to evolve, social networking platforms are expected to play a crucial role in shaping Kenya's digital landscape.

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.