Social Networking App Market to grow up to USD 430.2 Billion by 2032, at a CAGR of 26.7%

New York, The global Social Networking App market was valued at USD 40.2Billion in 2022 and it is anticipated to grow up to USD 430.2 Billion by 2032, at a CAGR of 26.7% during the forecast period.

Global Social Networking App Market report from Global Insight Services is the single authoritative source of intelligence on Social Networking App Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Market Trends and Drivers

Growing investment from Meta to provide in-stream ad-free features for global clients is propelling market growth. Rapidly growing demand for free gaming subscription-based social networking apps in the U.S. is bolstering the industry growth over the years. 3D image context with augmented reality-based features of social media is refueling the business needs. The growing demand for big-screen interfaces with dark mode in the U.K. is set to drive the use of these applications. National lockdowns enforced across the globe owing to the effect of coronavirus led to widely affecting the global supply chain of numerous businesses worldwide. Smoother in-app purchasing of social services and the rapid shift of consumers to software as a service-based app had taken a dramatic boost for social networking apps. Discovering online communities for theatre, sports art, music, games, and yoga, had gained traction during the pandemic era. The growing demand for live streaming videos and the surge in the adoption of OTT platforms in India had further propelled the market growth.

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By Device Type
• Smartphone
• Laptop
• Others
By Market Place
• Google Play Store
• Apple iOS Store
• Microsoft Store
• Others
By Revenue Source
• Advertising
• In-App Purchase
• Paid App

Key Player

The key players in the Social Networking App market are Reddit, Snapchat, Twitter, Meet Up, Facebook, Tumblr, Viber, Instagram, Line, and Yubo., among others.

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