The global social media market size is expected to grow from $159.68 billion in 2021 to $223.11 billion in 2022 at a compound annual growth rate (CAGR) of 39.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $833.50 billion in 2026 at a CAGR of 39%.
What is the Global Social Media Market?
The social media market consists of sales by entities (organizations, sole traders or partnerships) that enable customers to interact, create and share content and information. Social media enables users to share pictures, videos, and audio files. This market includes revenues from sales from advertisements and other services offered on social media platforms.
Get a Sample of the global social media market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2190&&type=smp
What drives the Global Social Media Market?
Rising penetration of mobile, tablet, and other electronics and rising data consumption will drive the social media market. An increase in sales of internet-accessible electronic devices such as smartphones and tablets leads to an increase in time spent on social media websites. For example, the total number of smartphone devices across the world reached 6 billion in 2020, that is eight people out of 10 owned a smartphone in 2020, eventually driving the revenues of social media companies. This increasing use of smartphones is expected to increase internet usage, hence driving the social media market.
Get the full global social media industry report here:
https://www.thebusinessresearchcompany.com/report/social-media-global-market-report
Global Social Media Market Segments
The global social media market is segmented:
By Type: Social Media Advertisement, Social Media Subscription
By Service: Social Networking, Micro Blogging and Instant Messaging, Photo Sharing Networks
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, Others
By Geography: The regions covered in the social media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Social Media Global Market Report 2022provides market size and growth forecasts for the global social media market, global social media market share, social media market segments and geographies, social media market competitive landscape including leading competitors’ revenues, profiles and market shares. The social media market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Social Media Industry Playersinclude Facebook, YouTube, Instagram, Twitter, and LinkedIn. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
