Social networking platform market is anticipated to grow at a considerable CAGR of 27.5% during the forecast period. The major factor driving the global social networking platform market growth includes increased short-form video content consumption and internet penetration globally. There were 5.27 billion people with a social network account in 2022, with most of them on Facebook, Instagram, or WeChat in China. They spend on average, According to HubSpot Blogs research, In April 2023, people are watching, 17 hours of online videos per week. People are 52% more likely to share video content than any other type of content. 75% of viewers watch short-form video content on their mobile devices. 83% of marketers suggest videos should be under 60 seconds. The number of digital video viewers worldwide is expected to reach 3.5 billion globally.
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The global social networking platform market is segmented based on type, application, service, and end user. Based on type, the market is segmented into advertising, in-app purchases, and paid apps. Based on application, the market is sub-segmented into entertainment, commercial, and other applications. Based on services, the market is segmented into social networking, microblogging, instant messaging, and photo-sharing networks. Based on end users, the market is segmented into personal, SMEs, and large enterprises. Among these, Increasing commercial platforms that use social networking platforms is expected to drive the market during the forecast period.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Social Networking Platform Market Report Segment
By Type
- Advertising
- In-app purchase
- Paid apps
By Application
- Entertainment
- Commercial
- Other Applications (Shopping and Travelling)
By Service
- Social Networking
- Microblogging
- Instant Messaging
- Photo Sharing Networks
By End Users
- Personal
- (Small Medium Enterprises) SMEs
- Large Enterprises
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global social networking platform market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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