Fast Market Research announces the availability of the new TechNavio report, "Global Social Networking Market 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/18/2015 -- Social networking involves groups of people with common interests coming together on a social platform and building relationships with the help of technology. The term social media is defined as a platform, such as websites and applications, that enable users to participate in social networking activities by creating, sharing or exchanging information, ideas, and pictures/videos.
Social media is not limited to Facebook, Twitter, and Google+. Currently there are more than 800 active social networking sites and several platforms, including mobile applications and digital pages for people to interact.
Technavio analysts forecast the global social networking ad-spending market to grow at a CAGR of 23.12% during 2014-2018.
Commenting on the report, an analyst from Technavio's team said: "There has been a shift in how people consume media. Consumers are demanding ubiquitous content access. Along with growing mobile Internet access, this will enable consumers to be connected to social networking all the time. This will provide an opportunity for marketers to reach out to their audiences through mobile devices."
Get More Details on this Report and a Full Table of Contents at Global Social Networking Market 2015-2019
According to the report, Social networking advertising has a higher percentage of return than traditional advertising. This can be understood by the following exhibit. It gives the cost of reaching an audience of one thousand through the given channel. The cost is lower for social networking sites than traditional TV ads.
Further, the report states that most brands have been using traditional marketing channels for decades. It has become their comfort zone, which they are reluctant to leave. They are skeptical about the new medium, which is an unexplored territory. Though most of them give the ineffectiveness of social media as a reason, the truth is fear of failure.
The key players in the Global Social Networking Market are Facebook, Google, Instagram, LinkedIn, Pinterest, Tencent, Tumblr, Twitter
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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