Social Media - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Social Media market is accounted for $41.31 billion in 2018 and is expected to reach $171.03 billion by 2027 growing at a CAGR of 17.1% during the forecast period. Some of the key factors such as growing mobile users in all ages and narrowing prices of internet packs are driving the market growth in the forecast period. However, growing awareness on harmful effects of social media is the restraining factor for the growth of the market.
Social media are interactive technologies that help in the creation or sharing of information through virtual communities and networks. Users engage with social media by means of computer, tablet or smart phone through web-based software or web application, often utilizing it for messaging.
By type, advertisement segment is having huge demand as the brands can promote themselves easily and get more attraction towards their product, especially from the young population. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the increasing number of smart phone users and rapid urbanization.
Some of the key players in Social Media Market include Facebook, Instagram, LinkedIn, Youtube, Twitter, HubSpot, Digimind, HootSuite Media, Salesforce, SharpSpring, Sprinklr, and Critical Mention.
• Small and Midsize Business (SMBs)
• Large Enterprise
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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