GVR Report cover Social Networking App Market Size, Share & Trends Report

Social Networking App Market Size, Share & Trends Analysis Report By Marketplace (Google Play Store, Apple iOS Store), By Region, And Segment Forecasts, 2022 - 2028

  • Report ID: GVR-4-68039-931-3
  • Number of Pages: 80
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Technology

Report Overview 

The global social networking app market size was valued at USD 39.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.4% from 2022 to 2028. This can be credited to the rising demand for 5G technology across the globe.The surge in adoption of personalized feed-based app in Europe is expected to boost the industry growth. Moreover, the growing demand for encrypted & self-destructive messaging-based social apps in India is refueling the expansion in the business.

U.S. social networking app market size, by marketplace, 2019 - 2028 (USD Billion)

In addition to above, soaring demand for video chat services in Saudi Arabia is supplemnting the industry growth. Moreover, ease of access of in-app purchase-based social networking app is bolstering the adoption of these applications globally. However, the data security concern of social media app may cause a hindrance to the industry growth. At present, key players are focusing to adopt video filter enabled social networking app. Hence the social networking app 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 the 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 are refueling the business needs. The growing demand for big-screen interface with dark mode in the U.K. is set to drive the use of social networking applications.  

National lockdown 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 the social service and the rapid shift of consumers on software as a service- based app had taken a dramatic boost for social networking app. 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 surge in 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 of the market are providing a user-generated content approach for the social networking app with the help of the Android & iOS-based platforms. International brands will incorporate with the use of social listening. Higher adoption of social commerce across the globe will turn to refuel the market growth.

Marketplace Insights

Google play store segment contributed to the highest share of 55% in the global market revenue in 2021. Worldwide connectivity, best android widgets, open ecosystem, customizable online marketing for social networking apps, and intelligent multitasking system are refueling the market growth. android platform is providing the supporting noble deeds. The surging number of social networking apps available in the play store will raise the popularity in the forthcoming years.

Global social networking app market share, by marketplace, 2021, (%)

Other 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 the market growth. Multitasking feature with flash-based application are the prime feature of the BADA operating system. BADA shared library and the flexibility of the operating system will contribute to enhance the market growth.

Regional Insights

Asia Pacific made the largest contribution in the global social networking app of over 50% share in 2021 due to the growing adoption of social media integration in emerging economy such as China and India. Rising trend in China to adopt technologically advanced video reels- based app with feature of video editing support is propelling the industry growth. The market share of India is driven by the rising demand for AI-based social networking applications for business networking. Customized recommendations of social networking app with innovative virtual platform 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 growth.

Europe is projected to witness a CAGR of 26.5% from 2022 to 2028. This can be attributed to the growing demand for photo and video editing tools from the consumers of U.K. and Germany. The emerging trend in France to adopt push-to–talk feature forlive messaging. The growing adoption of initiate group conversation and customizable theme based social networking app in Germany is estimated to escalate the market growth over the forecast period. Furthermore, the rising demand for the live health sessions with cloud based app in 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 the social networking app.The prime key players are blog editing features in social networking apps with graceful templates.Multiple companies are providing live news broadcast features in social networking app. 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

Report Attribute

Details

Market size value in 2022

USD 50.4 billion

Revenue forecast in 2028

USD 173.2 billion

Growth Rate

CAGR of 23.4% from 2022 to 2028

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Marketplace, region

Regional scope

North America; Europe; Asia Pacific; Central & Central & South America; Middle East & Africa

Country scope

U.S.; Canada; U.K., Germany; France; China; India; Japan;Brazil; Argentina; Saudi Arabia; South Africa

Key companies profiled

Reddit;Meta;Twitter;Meet Up;Tapebook;Tumblr;Viber;Whisper;Line;Yubo.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segment from 2017 to 2028. For this study, Grand View Research has segmented the global Social Networking App Market report based on marketplace and region.

  • Social Networking App Marketplace Outlook (Revenue, USD Million, 2017 - 2028)

    • Google Play Store

    • Apple iOS Store

    • Others

  • Social Networking App Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Rest of Europe

    • Asia Pacific

      • China

      • India

      • Japan

      • Rest of Asia Pacific

    • Central & South America

      • Brazil

      • Argentina

      • Rest of Central & South America

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • Rest of Middle East & Africa

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