Social Networking - Saudi Arabia

Saudi Arabia

The Social Networking market in Saudi Arabia is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach US$486.90m in 2022.
This revenue is projected to increase at an annual growth rate of 8.00%, resulting in a market volume of US$689.50m by 2027.
In terms of revenue sources, in-app purchases (IAP) are expected to contribute significantly to the overall revenue in the Social Networking market.
It is projected that in-app purchase revenue will reach US$287.40m in 2022.
Additionally, paid app revenue is expected to reach US$0.10m in the same year.
Advertising revenue is also projected to play a significant role, with an estimated value of US$199.40m in 2022.
Furthermore, the number of downloads in the Social Networking market is projected to reach 96.52m downloads in 2022.
Currently, the average revenue per download is expected to be US$5.04.
This indicates the potential for monetization in the market.
It is interesting to note that when comparing the global market, in China stands out as the country generating the most revenue in the Social Networking market, with an estimated revenue of US$49.67bn in 2022.
These projections highlight the growth potential and revenue opportunities in the Social Networking market in Saudi Arabia.

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.