Globally, Asia was the largest region for downloads of social media apps during this period, accounting for 60% of the market.
“India is the top market by a factor of 5x, surpassing the US in 2018. US, Indonesia, Brazil and China follow—a mix of mature and emerging markets," the report said.
Social media apps are a global craze with 74 billion of them downloaded till date, according to the report. Of these, 4.7 billion were downloaded in the first half of this year alone.
A total of $22.2 billion has been spent on social media apps till date, of which $3.2 billion was spent in the first half of this year—up 50% over last year. The US, Japan and China accounted for 60% of this spending in this period.
The US, which emerged as the No. 1 market for consumer spending on social media apps, saw 1.7 times the spend of the next largest market and represented 30% of the total market—fuelled by spends in support of content creators and live streamers.
Globally, social media apps commanded 740 billion hours in the first half of 2021. The Asia-Pacific region led in the time spent on social apps with a 60% share.
In India, the time spent on such apps has boomed over the past three-and-a-half years, shrinking the gap between India and China from 115% in 2018 to 7% in the first half of 2021. Pakistan surpassed Mexico in 2020 to become the sixth largest market for time spent on social media apps on Android phones.
The App Annie report revealed that consumers have shifted to a video-first...
Read Full Story: https://www.livemint.com/technology/apps/india-leads-in-downloads-of-social-media-apps-in-h1-2021-11631208395165.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.