Unveiling the Global Social Media Landscape
Unveiling the Global Social Media Landscape

The Business Research Company’s Social Media Global Market Report 2023 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Social Media Global Market Report 2023 – Market Size, Trends, And Global Forecast 2024-2033

The global social media market grew from $193.52 billion in 2022 to $231.1 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%.”

— The Business Research Company

LONDON, GREATER LONDON, UK, December 14, 2023 /EINPresswire.com/ — The global social media market witnessed a spectacular surge, soaring from $193.52 billion in 2022 to $231.1 billion in 2023, with a remarkable Compound Annual Growth Rate (CAGR) of 19.4%. Poised for continued expansion, the market is forecasted to reach $434.87 billion in 2027, maintaining an impressive CAGR of 17.1%.

Driving Forces: Mobile Revolution and Data Consumption
The burgeoning social media landscape is propelled by the pervasive penetration of mobile devices, tablets, and other electronics, coupled with an upswing in data consumption. The surge in sales of internet-accessible devices, particularly smartphones and tablets, has resulted in an intensified engagement with social media platforms. Globally, the tally of smartphone devices reached a staggering 6 billion in 2020, with eight out of 10 individuals owning a smartphone. This surge in smartphone usage is anticipated to catalyze increased internet activity, further fueling the growth of the social media market.

Explore the Global Social Media Market with a Detailed Sample Report:

Pioneers Shaping the Horizon
Explore the dominant players shaping the global social media market:

Commerce Fusion: Social Media Platforms as Marketplaces
Social media companies are strategically leveraging their platforms for electronic commerce, driving substantial revenue growth. This strategic move aligns with the escalating adoption of e-commerce and online shopping, fueled by the pervasive penetration of the internet and smartphones. Amid the COVID-19 pandemic, U.S. e-commerce sales witnessed a robust 44% surge, constituting over 21% of total retail sales in 2020. Social media platforms are pivotal in facilitating targeted advertising based on users’ social behaviors, geographic locations, and demographics. Instagram, for instance, introduced a ‘Shopping’ tab on its ‘Explore’ page, with 44% of users utilizing Instagram weekly for shopping, as per a 2022 Instagram for Business survey. Other major platforms like Snapchat and Twitter have also integrated shopping advertisements, enabling seamless direct purchases within their ecosystems.

Global Dynamics: Regional Dominance and Growth Frontiers
In 2022, Asia-Pacific emerged as the leader in the social media market, with Africa anticipated to be the fastest-growing region in the forecast period. Comprehensive regional coverage spans Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Segmentation Insights: Diverse Industry Engagement
Dive into the nuanced segmentation of the global social media market, reflecting diverse industry engagements:
1) By Type: Social Media Advertisement, Social Media Subscription
2) By Service: Social Networking, Micro Blogging and Instant Messaging, Photo Sharing Networks
3) By End-User Industry: Retail and Wholesale, Transportation Manufacturing, Food and Beverages, Financial Services, Information Technology, Electrical And Electronics Manufacturing, Media and Recreation, Transportation Services, Healthcare, Other End-User Industries

Access the Complete Report for In-Depth Analysis:

Social Media Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Social Media Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on social media market size, social media market drivers and trends, social media market major players, social media market competitors’ revenues, social media market positioning, and social media market growth across geographies. The social media market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Social Media Advertisement Global Market Report 2023

Social Media Subscription Global Market Report 2023

Social Media Analytics Global Market Report 2023

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

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Originally published at https://www.einpresswire.com/article/674525453/unveiling-the-global-social-media-landscape

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