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Global Market Trends 2024: Web Content, Search Portals, and Social Media Platforms
web content, search portals and social media market size
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According to The Business Research Company's, The web content, search portals and social media market size has grown rapidly in recent years. It will grow from $739.6 billion in 2023 to $848.3 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to internet penetration, mobile adoption, social media adoption, content creation and sharing.
The web content, search portals and social media market size is expected to see rapid growth in the next few years. It will grow to $1427.81 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to e-commerce integration, emerging markets, environmental and ethical considerations, content personalization, video content. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Market Drivers and Trends:
Rising penetration of mobile, tablet and other electronics and rising data consumption will drive the web content, search portals, SEO services, and social media market. An increase in sales of internet-accessible electronic devices such as smartphones and tablets lead to an increase in the consumption of digital content For instance, in November 2022, according to the International Telecommunication Union, a Switzerland-based UN body in charge of a multitude of areas, including communication and technological advancements, 73% of people aged 10 and above possess a smartphone in 2022, which is 7% greater than the share of the population that uses the Internet, eventually driving the revenues of web content, search portals and social media companies. This increasing use of smartphones is expected to increase internet usage, hence driving the web content, search portals, SEO services, and social media market.
Companies in the digital publishing and content streaming market are developing progressive web applications (PWAs) to drive user engagement and revenues. PWAs are applications within a web browser, displayed as a website. PWAs enable developers to develop a single app that can work across all platforms and devices, leading to significant savings in the time and effort taken for app development. PWAs help web content publishing companies to maximize reach, increase the level of user engagement, and provide a unified customer experience. For example, Flutter, supported and developed by Google, is the latest framework used for developing mobile applications for operating systems such as iOS and Android. PWAs developed by Washington Post, an American news publishing company, have resulted in increasing the rate of user engagement by as much as five times.
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Major Key Players of the Market:
Google LLC, Facebook Inc., Tencent Holdings Limited, Baidu Inc., Netflix Inc., Twitter Inc., LinkedIn Corporation, Reddit Inc., Pinterest Inc., Snap Inc., TikTok Inc., YouTube LLC, Instagram LLC, WhatsApp Inc., Tencent Holdings Limited, LINE Corporation, Viber Media S.à r.l., Telegram Messenger LLP, Tumblr Inc., Flickr Inc., Vimeo LLC, SoundCloud Limited, Spotify AB, Pandora Media LLC, iHeartMedia Inc., Apple Inc., Amazon.com Inc., Tidal Music AS, Deezer SA, Shazam Entertainment Limited.
Web Content, Search Portals And Social Media Market 2024 Key Insights:
• The web content, search portals and social media market size is expected to see rapid growth in the next few years. It will grow to $1427.81 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%.
• Mobile Revolution How Increased Device Penetration And Data Consumption Fuel The Web Content, Search Portals, Seo Services, And Social Media Market
• Elevating User Engagement The Impact Of Progressive Web Applications (PWAS) In The Digital Publishing And Content Streaming Market
• Asia-Pacific was the largest region in the web content, search portals, and social media market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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