Social Media Messaging Market - Industry, Growth, Trends, Size, Share, Forecast by 2023

Social Media Messaging Market: Overview

Social media messaging is a communication medium integrated with social networking platforms. Social media offers a platform to share information, news, and trends with your connections across the globe. Social media messaging is an instant messaging service which helps to connect with the people including friends, colleagues, and others in a better way than conventional messaging. In social media messaging services, message can be presented in multiple formats including, text, voice, photos, and videos.

Currently, companies are primarily focused on social media messaging services to advertise their products and increase brand awareness. In addition, social media messaging provides a platform for lifelogging, payments, gaming, media, and other services.

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Social Media Messaging Market: Trends and Growth Propellers

In the past decade, communication has changed from conventional text to multimedia messaging. The increasing internet penetration plays a key role in the rapid growth of social media messaging. The penetration of various messaging services is increasing over the time due to advancement in mobile data network technologies such as 4G, and 5G provided by internet service providers.

Furthermore, the cost of social media messaging is much lower than conventional messaging services provided by mobile operators. Thus, a consumer prefers social media messaging service over conventional messaging. In addition, companies are using social media messaging services to increase brand awareness about their products and services.

Governments across the world focus on monitoring social media messaging services to keep track of erupting political movements, crises, and epidemics in unlawful activities. Likewise, social media messaging companies are introducing innovative design, and transformation in messaging platforms to increase the adoption. These factors are expected to drive social media messaging market over the forecast period. However, increasing inappropriate messages, and false informations are affecting the transparency of the social media messaging. Furthermore, lack of internet penetration and unavailability of technology in a number of developing regions is expected to impede the growth of social media messaging.

Social Media Messaging Market: Segmentation

The social media messaging market is segmented by platform, message type, age group, and geography. By platform type, the social media messaging market is segmented into web application based, and mobile application based messaging. By message type, this market is segmented into instant messaging, and non-instant messaging. Based on the use of social messaging, social media messaging market is segmented by age group into 18 – 29, 30 – 49, and above 50.

On the basis of geography, the social media messaging market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, North America and Europe have been witnessing high growth in the social media messaging due to high internet penetration, improved mobile technologies such as 5G, and adoption of social media platforms.

However, Asia Pacific and Middle East & Africa are expected to see large scale adoption of social media messaging in the coming years. This is primarily due to increasing awareness of social media messaging applications, and adoption of social networking platforms and services led by slow but steady growth in internet penetration.

Social Media Messaging Market: Key Companies

In this rapidly changing social lifestyle, multiple messaging platforms are launched by different companies. These companies include Facebook, Inc., Tencent, Inc., Twitter, Inc., LINE Corporation, VNG Corporation, Microsoft Corporation, Kakao Corporation, BlackBerry Ltd., Kik Interactive, Inc., and Telegram Messenger LLP.

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