Social Networking App Market (2023 - 2030) Size, Share & Trends Analysis Report By Marketplace (Google Play Store, Apple IOS Store, Microsoft Store), By Device Type, By Revenue Source, By Region, And Segment Forecasts

Social Networking App Market Summary

Moreover, the growing demand for encrypted & self-destructive messaging-based social apps in India is refueling the expansion of the business. In addition, the soaring demand for video chat services in Saudi Arabia is supplementing the industry growth. Moreover, the ease of access to in-app purchase-based social networking apps is bolstering the adoption of these applications globally. However, the data security concern may cause a hindrance to the industry growth. At present, key players are focusing to adopt video filter-enabled social networking apps. Hence the market is expected to perform significant market growth during the forecast period.

Growing investment from Meta to provide in-stream ad-free features for global clients is propelling market growth. Rapidly growing demand for free gaming subscription-based social networking apps in the U.S. is bolstering the industry growth over the years. 3D image context with augmented reality-based features of social media is refueling the business needs. The growing demand for big-screen interfaces with dark mode in the U.K. is set to drive the use of these applications. 

National lockdowns enforced across the globe owing to the effect of coronavirus led to widely affecting the global supply chain of numerous businesses worldwide. Smoother in-app purchasing of social services and the rapid shift of consumers to software as a service-based app had taken a dramatic boost for social networking apps. Discovering online communities for theatre, sports art, music, games, and yoga, had gained traction during the pandemic era. The growing demand for live streaming videos and the surge in the adoption of OTT platforms in India had further propelled the market growth.

Native GIF search, social tweets with an AI-based library, and customized photo collages are offered by the key players. The rising concern for better communication tools with influencer marketing is refueling the industry growth. The key players in the market are providing a user-generated content approach for the social networking app with the help of Android & iOS-based platforms. International brands will incorporate the use of social listening.

Market Place Insights

Based on the marketplace, the target market is segmented into the google play store, apple IOS store, Microsoft store, and others. Google play store dominated the global market in 2022 with the market share of 54.9% and is expected to maintain its dominance over the forecasted period. The market dominance of the google based platform is due to the presence of more android devices worldwide compared to the apple IOS store, Microsoft store, and others. The google play store also offers more options regarding the number of applications on the marketplace compared to the apple IOS store, Microsoft store, and other stores. Worldwide connectivity, the best android widgets, an open ecosystem, customizable online marketing for social networking apps, and an intelligent multitasking system are refueling the market growth. The surging number of social networking apps available in the play store will raise their popularity in the forthcoming years.

The others segment is projected to register significant market growth during the forecast timeline. Rising demand for BADA project templates from the consumers of Asia Pacific is propelling market growth. The emergence of multitasking features with flash-based applications is the prime feature of the BADA operating system. BADA shared library and the flexibility of the operating system will contribute to enhancing the market growth.

Device Type Insights

Based on the device type, the target market is segmented into smartphones and others. Smartphones accounted for a highest revenue share of 89.6% in 2022 and are anticipated to continue their dominance in the coming years. The segment's growth is attributed to an increase in the usage of smartphones across the globe. Most of the population considers mobile phones convenient to use for these apps. The rise of smartphones will have a huge impact on social media usage, as most users spend digital media time on social sites and 80% of entertainment apps are accessed through a smart mobile phone. For instance, in the North American region, apps such as Instagram, and Snapchat, which are used for entertainment, are primarily accessed through mobile phones. As per GVR's primary research analysis, 83% of Instagram and 87% of Snapchat usage occurs through smartphones.

The others segment is anticipated to register a significant CAGR over the forecast period. This segment includes laptops, tablets, smart TVs, etc. The usage of applications such as LinkedIn, which is used for professional networking, is dominated by laptops and computers. Previously, professional networking apps such as LinkedIn were accessed via a computer or laptop for 76% of the total time in the North American region. Laptops benefit users through better multitasking, ease of use, more storage and connectivity, better editing tools, and online communication. As per GVR analysis, only 1.32% of the 4.48 billion social media users utilize desktop computers to access websites or applications; most do it via mobile devices.

Revenue Source Insights

Based on revenue source, the market is segmented into advertising, in-app purchase, and paid app. Advertising segment accounted for highest market share of 64.5% in 2022 as compared to rest of the segments. Using social media to reach out to the target audience and offer highly customized ad campaigns on social media apps is known as social media advertising. Advertising is the major source of income for social medial companies. In 2020, Meta registered an average of 2.89 billion active users monthly across the globe and estimates the average revenue per user accounted for USD 32.03 generated through advertising. Also, in 2020, Meta's advertising revenue accounted for USD 84.2 billion. The main types of advertisements include video ads, story ads, messenger ads, and static image ads, among others.

Regional Insights

Asia Pacific made the largest contribution in the global market of 44.5% revenue share in 2022 due to the growing adoption of social media integration in emerging economy such as China and India. The rising trend in China to adopt technologically advanced video reel-based apps with the feature of video editing support is propelling industry growth. The market share of India is driven by the rising demand for AI-based social networking applications for business networking. Customized recommendations in these apps with innovative virtual platforms will contribute to the market growth in the times to come. Moreover, the rising demand for custom camera tools with cool tricks is further anticipated to boost the industry's growth.

Europe is projected to witness a CAGR of 31.4% from 2023 to 2030. This can be attributed to the growing demand for photo and video editing tools from consumers in the U.K. and Germany. The emerging trend in France to adopt push-to-talk features for live messaging. The growing adoption of initiate group conversation and customizable theme-based social networking apps in Germany is estimated to escalate the market growth over the forecast period. Furthermore, the rising demand for live health sessions with cloud-based apps in the U.K. is anticipated to boost the market growth.

Key Companies & Market Share Insights

Companies' main focus is to provide local and online events through social networking apps. The prime key players are blog editing features in social networking apps with graceful templates. Soaring demand for Android and Apple iOS-based devices across the world will create lucrative opportunities for the global key players. Major companies operating in the global social networking app market are as follows:

• Reddit

• Meta

• Twitter

• Meet Up

• Tapebook

• Tumblr

• Viber

• Whisper

• Line

• Yubo

Social Networking App Market Report Scope

Global Social Networking App Market Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Social Networking App Market report based on market place, device type, and region.

• Market Place Outlook (Revenue, USD Billion, 2017 - 2030)

  • Google Play Store

  • Apple IOS Store

  • Microsoft Store

  • Others

• Device Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Smartphones

  • Others

• Revenue Source Outlook (Revenue, USD Billion, 2017 - 2030)

  • Advertising

  • In-App Purchase

  • Paid App

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

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