Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The Global Social Media Market Research Report provides an industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the Social Media market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This report presents a comprehensive overview, market size and share, regional and country-level analysis of the Social Media market. The segmental analysis focuses on forecast by Type, Application in terms of revenue and forecast for the period 2020-2030.
The global social media market is expected to grow from $88 billion in 2019 to $104.7 billion in 2020 at a compound annual growth rate (CAGR) of 19%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 31% from 2021 and reach $224.2 billion in 2023.
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Top Key Players in the Global Social Media Market: Facebook; Youtube; Instagram; Twitter; LinkedIn
The Asia Pacific was the largest region in the global social media market, accounting for 46% of the market in 2019. North America was the second largest region accounting for 32% of the global social media market. South America was the smallest region in the global social media market.
Companies in the social media market have been heavily investing in the online video market such as digital hangouts. Digital hangouts include apps that let the user video chat with multiple people simultaneously, and possibly engage in a number of activities such as watching movies or shopping together. A number of apps have started offering this service and have attracted a large user base. For instance, Google launched Hangouts Meet, a digital hangout platform for businesses. Hangouts Meet gives the users an option to participate in video meetings with their colleagues. Hangouts Meet allows the user to create and share links to videoconferences that other users can join without creating accounts or installing plugins.
The social media market consists of sales by entities (organizations, sole traders or partnerships) that enable customers to interact, create and share content and information. Social media enables users to share pictures, video and audio files. This market includes revenues from sales from advertisement and other services offered on social media platforms.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Social Media market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Table of Contents:
Executive Summary: It includes key trends of the Social Media market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the Social Media market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Social Media market.
Market Segments: This part of the report discusses product type and application segments of the Social Media market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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