Social Networking - Southern Asia

Southern Asia

In 2022, the projected total revenue in the Social Networking market in Southern Asia is expected to reach US$1.02bn.
It is forecasted to have an annual growth rate of 5.75% (CAGR 2022-2027), resulting in a projected market volume of US$1.36bn by 2027.
Specifically, the projected in-app purchase (IAP) revenue in the Social Networking market is expected to reach US$222.30m in 2022.
Meanwhile, the projected revenue from paid apps in this market segment is estimated to be US$0.28m in the same year.
Furthermore, advertising revenue in the Social Networking market is projected to reach US$795.70m in 2022.
This indicates the significant role that ads play in generating revenue for this market segment.
In terms of user engagement, the number of downloads in the Social Networking market is projected to reach 1.98bn downloads in 2022.
This highlights the popularity and widespread usage of social networking platforms in the region.
It is worth noting that the average revenue per download currently stands at US$0.51.
This metric provides insights into the monetization strategies employed by social networking platforms in Southern Asia.
When compared globally, in China stands out as the country generating the highest revenue in the Social Networking market.
In 2022, in China is projected to generate US$49.67bn in revenue, showcasing its dominant position in this market segment.

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.