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$99.45k 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, 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
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).
