Dublin, Aug. 27, 2021 (GLOBE NEWSWIRE) -- The "Social Networking Platforms Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global social networking platforms market is evaluated at US$192.950 billion for the year 2019 and is projected to grow at a CAGR of 25.38% to reach a market size of US$939.679 billion by the year 2026.
The social networking platforms market has been increasing at an exponential rate. The rise in demand is not only just from the millennials but has also risen due to significant adoption by all age groups. Moreover, the application of social networking platforms witnessed a substantial rise owing to the demand coming from the companies which use the platforms for marketing purposes as well. A social networking/messenger site is an online platform that people use to build social networks or social relations with other people who share similar personal or career interests, activities, backgrounds, or real-life connections. In June 2020 alone, one app in the Apple App Store (LINE) had generated $6.78 million in global app revenues. Major factors expected to drive the growth of social media are being increasingly acknowledged as a platform that helps in directing search keywords towards the websites of companies, leading to enhanced website traffic and brand popularity/visibility. The proliferation of smartphones is also playing a vital role in the growth of the market. Social media apps designed for...
Read Full Story: https://www.globenewswire.com/news-release/2021/08/27/2287644/0/en/Global-Social-Networking-Platforms-Market-2021-to-2026-Featuring-Facebook-Pinterest-and-Twitter-Among-Others.html
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