Market outlook of the global social networking market
Technavios research analyst predicts the global social networking market to grow at a CAGR of around 18% during the forecast period. Social media advertising has gained popularity over the past decade, mainly due to the active participation of social media users. Social media advertising offers a solid platform for advertisers to exhibit their brands/products, especially during global events, which are actively followed across the world.
One of the reasons for the growth of advertisement spending on social media is the fact that social media acts as a platform that helps in directing search keywords toward the companys website, leading to increased website traffic and brand popularity/visibility. Besides, social media allows brands to interact with people by offering an effective platform for communication, thereby leading to higher conversion rate and improved brand loyalty.
Segmentation by device and analysis of the social networking market
Social network advertisement spending on desktop computers
Social network advertisement spending on mobile devices
Although desktop computers accounted for around 51% of the total social media advertisement spending during 2015, the market is expected to shift significantly toward advertisement spending on mobile devices during the forecast period. This is mainly due to the growing usage of smartphones and tablets. Mobile devices help in effectively targeting potential audience as most personal and professional interactions take place in these devices. Social media apps designed for mobile devices regularly track these interactions and further increase the relevance of advertisements.
Geographical segmentation and analysis of the social networking market
The market in the Americas is mature as North America accounts for around 93% of the market share in the region. It has a social media penetration of around 58%, which is the highest globally. Though this existing high penetration makes it difficult to attract new users toward social media, it offers brands a broad base of target audience, resulting in greater chances of monetizing their advertisement efforts.
Competitive landscape and key vendors
The global social networking market is dominated by a few global vendors. These vendors are constantly trying to innovate and update their platforms/solutions to keep up with the latest trends and developments in the market. Mergers and acquisitions are common in the market as major vendors like Facebook, Twitter and Google try to acquire new entrants in the market in which they see significant potential.
The leading vendors in the market are -
The other prominent vendors in the market include Instagram, iQIYI, Pinterest, Qzone, Renren, and Tumblr.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global social networking market?
What are the key market trends impacting the growth of the global social networking market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global social networking market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global social networking market?
Technavio also offers customization on reports based on specific client requirement.
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