Dec 24, 2020 (Heraldkeepers) -- The global Social Networking Sites Market will grow by US$ 60.1 Billion by 2024 at a CAGR of 18% in the given forecast period.
Major factors expected to drive the growth of the social media is being increasingly acknowledged as a platform that helps in directing search keywords towards the websites of companies, leading to enhanced website traffic and brand popularity/visibility. The proliferation of smartphones is also playing a vital role in the growth of the market. Social media apps designed for smartphones regularly track activities and further increase the relevance of social media marketing.
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Competitive Rivalry
LinkedIn, Twitter, Reddit, InterActiveCorp, Tumblr, Facebook, Google, Tencent, Sina, Yahoo, and others are among the major players in the global Social Networking Sites market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
Social networking site is an online platform which people use to build social networks or social relationship with other people who share similar personal or career interests, activities, backgrounds or real-life connections.
The global Social Networking Sites market is segregated on the basis of Type as Entertainment and Commercial. Based on Application the global Social Networking Sites market is segmented in Person, SEMs, and Large Enterprises.
The global Social Networking Sites market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Social Networking Sites market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
The Social Networking Sites Market has been segmented as below:
Social Networking Sites Market, By Type
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Entertainment
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Commercial
Social Networking Sites Market, By Application
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Person
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SEMs
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Large Enterprises
Social Networking Sites Market, By Region
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North America
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Europe
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Asia-Pacific
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Rest of the World
Social Networking Sites Market, By Company
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LinkedIn
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Twitter
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Reddit
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InterActiveCorp
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Tumblr
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Facebook
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Google
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Tencent
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Sina
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Yahoo
The report covers:
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Global Social Networking Sites market sizes from 2015 to 2024, along with CAGR for 2018-2024
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Market size comparison for 2017 vs 2024, with actual data for 2017, estimates for 2018 and forecast from 2019 to 2024
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Global Social Networking Sites market trends, covering comprehensive range of consumer trends & manufacturer trends
