Social Networking App Market Expected To Fuel Industry Growth With USD 310.37 Billion By 2030Posted by Neha Bora on June 28th, 2024 San Francisco, 28 June 2024: The Report Social Networking App Market Size, Share & Trends Analysis Report By Market Place (Google Play Store, Apple IOS Store, Microsoft Store), By Device Type, By Revenue Source, By Region, And Segment Forecasts, 2023 - 2030 The global social networking app market is expected to reach USD 310.37 billion by 2030, growing at a CAGR of 26.2% from 2023 to 2030, according to the new report by Grand View Research, Inc. The market growth is attributable to the growing demand for digital marketing services across the globe. Rapidly growing demand for inbound marketing strategies in emerging economies such as China and India is bolstering business growth. Additionally, the digital revolution across the world is supplementing market growth. Moreover, the surge in the adoption of live streaming-based content apps in North America is propelling market growth. According to Pew Research Center, 68% of U.S. users are accessing Facebook through their mobiles. Rising demand for paid advertising services in the U.K. is anticipated to boost market growth. Social media is an excessive catalyst to drive the website of personal business. Key players are focusing to provide text-to-speech features for social networking apps. The prime key players are offering multiple language support with an advanced user interface. Multiple companies are providing biometric traits to improve security concerns. Low-latency modes with near-field communication are propelling the market growth. Apple iOS Store segment will register the highest growth in the forecast period. This can be attributed to the growing demand for virtual social platforms from the consumers of the U.S. and U.K. Additional security concerns and real-time threat notifications features are refueling the business growth. Easy video management, portraits with studio light, and automatic updates are reflecting the significant market growth during the forecast period. The smartphone segment will register the highest growth in the forecast period, which can be attributed to the growing use of smartphones across the globe. The most popular mobile device worldwide is a smartphone that can run apps and connect to the internet. Social networking apps like Instagram, Facebook, Snapchat, and WhatsApp, among others, are popularly used on smartphones. As internet access and smartphone use expand worldwide, which in turn is boosting the social networking app market growth. Asia Pacific made the largest contribution in the global social networking app of over 44% share in 2022 due to the rising demand for high-quality snap filters from the consumer the China and India. The rising trend in China to adopt hyperlapse integrations is propelling market growth. The market share of India is driven by the rising demand for voice navigation-based social networking apps. Access Research Report of Social Networking App Market @ https://www.grandviewresearch.com/industry-analysis/social-networking-app-market-report Social Networking App Market Report Highlights
Social Networking App Market Report Scope
List of Key Players in Social Networking App Market
Access Press Release of Social Networking App Market @ https://www.grandviewresearch.com/press-release/global-social-networking-app-market About Grand View Research Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. For More Information: https://www.grandviewresearch.com/horizon Like it? Share it! More by this author |