Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The "Social Networking App Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The social networking app market size is expected to see exponential growth in the next few years, growing to to $207.31 billion in 2028 at a compound annual growth rate (CAGR) of 28.3%. The anticipated growth in the forecast period can be attributed to several factors such as a shift towards visual content, the rise of influencer marketing, increased personalization and targeted advertising, a focus on privacy and data protection, and the incorporation of gamification and interactive features.
Key trends expected to shape this period include the integration of augmented reality (AR) and virtual reality (VR), advancements in artificial intelligence (AI), a growing emphasis on ephemeral content, developments in blockchain technology, and the incorporation of e-commerce features.
The growing demand for 5G technology is anticipated to drive the expansion of the social networking app market in the future. 5G technology, the fifth generation of mobile network technology, offers faster speeds, lower latency, and greater capacity compared to previous generations. The increasing adoption of 5G is driven by factors such as the availability of spectrum, rising awareness and usage, advancements in complementary technologies, the growth of smart cities, and the need for skill enhancement. 5G enhances social networking apps by providing faster data speeds, lower latency, and improved connectivity, enabling seamless real-time interactions and richer media experiences. For example, in April 2023, 5G Americas, a U.S.-based industry trade organization, reported that global 5G wireless connections grew by 76% from the end of 2021 to the end of 2022, reaching approximately 1.05 billion. This growth is expected to continue, with projections estimating around 5.9 billion connections by the end of 2027. Thus, the rising demand for 5G technology is driving the growth of the social networking app market.
Major companies in the social networking app market are focusing on developing advanced and exclusive content solutions to enhance user engagement and differentiate their platforms. An exclusive content solution refers to a specialized approach or system that provides unique, proprietary, or premium content accessible only to a specific audience or through a particular platform. For instance, in February 2024, Dazed Media, a UK-based digital media company, launched the Dazed Club app, a dynamic networking platform for young creatives. The app allows users to upload their portfolios, connect with mentors, and join specialized groups for project discussions and expert advice. It encourages users to share creative work, such as images and videos, and engage in group chats on various topics. The app also offers exclusive editorial content from Dazed, event listings, and opportunities for participation in competitions and product drops.
In June 2024, Voodoo, a mobile game developer and publisher based in France, acquired BeReal for $535 million. The acquisition aims to leverage Voodoo's expertise in mobile app development to enhance BeReal's product strategy and accelerate user growth, with a focus on introducing innovative features and expanding the platform. This move is designed to solidify BeReal's position as a top social network centered on authenticity. BeReal is a social media app popular among Gen-Z, also based in France.
Major companies operating in the social networking app market are Meta Platforms Inc., LinkedIn Corporation, TikTok Inc., Snap Inc., X Corp, Pinterest Inc., Line Corporation, Reddit Inc., Nextdoor Holdings Inc., Discord Inc., Bumble Inc., Quora Inc., Foursquare Labs Inc., Automattic Inc., Telegram Messenger Inc., Viber Media S.a r.l., Meetup Inc., Yubo Inc., Clubhouse Media Group Inc., Vero Labs Inc., Mastodon gGmbH, Ello Inc.
This report focuses on social networking app market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
- By Market Place: Google Play Store; Apple IOS Store; Microsoft Store; Other Market Places
- By Device Type: Smartphones; Other Device Types
- By Revenue Source: Advertising; In-App Purchase; Paid App
- By Application: Entertainment; Commercial
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $76.58 Billion |
| Forecasted Market Value (USD) by 2028 | $207.31 Billion |
| Compound Annual Growth Rate | 28.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Social Networking App Market Characteristics
3. Social Networking App Market Trends and Strategies
4. Social Networking App Market - Macro Economic Scenario
5. Global Social Networking App Market Size and Growth
5.1. Global Social Networking App Market Drivers and Restraints
5.2. Global Social Networking App Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Social Networking App Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Social Networking App Market Segmentation
6.1. Global Social Networking App Market, Segmentation by Market Place, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Google Play Store
- Apple IOS Store
- Microsoft Store
- Other Market Places
6.2. Global Social Networking App Market, Segmentation by Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Smartphones
- Other Device Types
6.3. Global Social Networking App Market, Segmentation by Revenue Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Advertising
- in-App Purchase
- Paid App
6.4. Global Social Networking App Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Entertainment
- Commercial
7. Social Networking App Market Regional and Country Analysis
7.1. Global Social Networking App Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Social Networking App Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Social Networking App Market Analysis
30. Social Networking App Market Competitive Landscape and Company Profiles
30.1. Social Networking App Market Competitive Landscape
30.2. Social Networking App Market Company Profiles
- Meta Platforms
- LinkedIn Corporation
- TikTok
- Snap Inc.
- X Corp
31. Social Networking App Market Other Major and Innovative Companies
- Pinterest Inc.
- Line Corporation
- Reddit Inc.
- Nextdoor Holdings
- Discord Inc.
- Bumble Inc.
- Quora Inc.
- Foursquare Labs
- Automattic Inc.
- Telegram Messenger Inc.
- Viber Media S.a R.L.
- Meetup Inc.
- Yubo Inc.
- Clubhouse Media Group Inc.
- Vero Labs Inc.
32. Global Social Networking App Market Competitive Benchmarking
33. Global Social Networking App Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Social Networking App Market
35. Social Networking App Market Future Outlook and Potential Analysis
35.1 Countries Offering Most New Opportunities
35.2 Segments Offering Most New Opportunities
35.3 Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/rsr22q
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