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Social Networking Market Revenue, Share, Trends, Competitive Analysis, Demand and Opportunities by 2023
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One of the dominant drivers for the growth of social networking market is free access and availability of majority of social networks (such as Facebook, Linkedin, Twitter and others). Moreover, the ease of use, user friendly interface, and instant information sharing features of the social networks are some of the other drivers of the global social networking market.
The global social networking market offers new marketing and promotional opportunities for businesses, which allows vendors to increase their revenues, by reaching target audiences at low cost. The use of social networking sites on mobile devices is also a major opportunity in the social networking market. With the advent of cheaper handsets and affordable data connections, the social networking market is expected to experience high growth.
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Social networking sites have become a valuable, low cost marketing tool, particularly for consumer-facing organizations appealing to the tech-savvy world. With the advent of many social networking platforms, there has been an increase in the average time spend by user on various social networking sites. This has opened up new opportunities for marketers to promote various brands and products through social networking sites.
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