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Social Networking Market to grow by USD 238.4 Billion (2024-2028), driven by increased internet penetration, Report on AI driving market transformation – Technavio

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NEW YORK, Dec. 17, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global social networking market size is estimated to grow by USD 238.billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 19.96% during the forecast period. Increased internet penetration is driving market growth, with a trend towards social media advertisements gaining traction. However, privacy concerns obstruct market growth poses a challenge. Key market players include Alphabet Inc., Automattic Inc., ByteDance Ltd., Discord Inc., LinkedIn Corp., MediaLab.Ai, Meetup, Meta Platforms Inc., Myspace LLC, Nextdoor Holdings Inc., Pinterest Inc., Quora Inc., Rakuten Group Inc., Reddit Inc., Snap Inc., Telegram Messenger Inc., Tencent Holdings Ltd., Twitter Inc., Yelp Inc., and Z Holdings Group.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Social Networking Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 19.96%

Market growth 2024-2028

USD 238.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

17.25

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key countries

US, China, UK, Japan, and Germany

Key companies profiled

Alphabet Inc., Automattic Inc., ByteDance Ltd., Discord Inc., LinkedIn Corp., MediaLab.Ai, Meetup, Meta Platforms Inc., Myspace LLC, Nextdoor Holdings Inc., Pinterest Inc., Quora Inc., Rakuten Group Inc., Reddit Inc., Snap Inc., Telegram Messenger Inc., Tencent Holdings Ltd., Twitter Inc., Yelp Inc., and Z Holdings Group

Market Driver

Social media advertising due to its ability to reach vast audiences through advanced targeting. Influencer marketing and partnerships amplify this reach. Key platforms include Google Play Store, Apple IOS store, Microsoft store, and social networks like LinkedIn and Facebook. Devices like smartphones, laptops, tablets, and smart TVs are common targets. Performance indicators include in-app purchases, app sales, and user engagement. B2C enterprises leverage these channels using a bottom-up approach, focusing on independent databases and consumer attitudes. Exchange rates and messaging sites also impact the business of apps. 

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Market Challenges

Social networking markets face privacy challenges as platforms collect and share user data without consent, leading to identity theft and cybercrimes. B2C enterprises use this data for targeted advertising and sales to third parties. Tracking technologies monitor user activities across devices and websites. Key players include Facebook, WhatsApp, Telegram, Signal, and e-commerce platforms like Instagram and Facebook Shops. Data security concerns persist with the rise of Big Tech, 5G technology, and AI-based libraries. User behaviors and preferences shape this market, with interests in music, games, yoga, and live streaming videos.

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Segment Overview 

This social networking market report extensively covers market segmentation by

Type 1.1 Advertising1.2 In-app purchase1.3 Paid appsDistribution Channel2.1 Google2.2 AppleGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Advertising- The global social networking market experienced significant growth in 2022, with advertising holding the largest market share. This trend is driven by the increasing use of social media for brand promotion and product awareness. Key developments include the integration of 5G technology for faster connectivity, data security concerns leading to advanced encryption methods, and Meta’s foray into the metaverse with 3D image context. National lockdowns accelerated the shift to online communities, leading to increased engagement in areas such as theatre, sports, art, music, games, and yoga. Live streaming videos and OTT platforms gained popularity, while AI-based libraries and customized photo collages enhanced user experience. Influencer marketing thrived on Android & iOS-based platforms like Google Play Store and Apple IOS store. Smart devices, including smartphones, laptops, tablets, and smart TVs, facilitated this growth. LinkedIn continued to dominate professional networking, while in-app purchases and cloud-based apps boosted revenue.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

In the dynamic world of B2C enterprises, the Business of Apps has witnessed significant growth, particularly in the realm of social networking. With the proliferation of smartphone users, messaging sites like Facebook, WhatsApp, Telegram, Signal, and Facebook Messenger, as well as e-commerce platforms and social media giants such as Instagram, have adopted a bottom-up approach to engage users through in-app purchases and the monetization of independent databases. The S-curve function illustrates this trend, with user adoption following a steady growth pattern. However, with the increasing use of these platforms, data security concerns have emerged as a major challenge. The advent of 5G technology and Meta’s foray into 3D image context further underscores the importance of this market. National lockdowns have accelerated the shift towards online communities, with users turning to social networking sites for entertainment, including theatre, sports, art, music, and games.

Market Research Overview

In today’s digital world, social networking apps have become an integral part of our lives. With an estimated 3.6 billion users worldwide, the social networking market is a powerful platform for businesses and individuals alike. Apps like Facebook, Instagram, Twitter, and LinkedIn offer unique features that cater to various needs. For instance, Facebook and Instagram focus on personal connections and visual content, while LinkedIn is geared towards professional networking. Purcheses, ads, and sponsorships are common in this market, with companies using targeted marketing strategies to reach their audience. Consumer behavior is influenced by factors such as location, interests, and online activity. The use of data analytics and artificial intelligence enables businesses to tailor their offerings and engage with their audience effectively. The social networking market is a dynamic and ever-evolving space, with new trends and technologies shaping the way we connect and communicate.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeAdvertisingIn-app PurchasePaid AppsDistribution ChannelGoogleAppleGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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24/7 Software Expands Global Success with Strong Growth in Europe and the Middle East

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Expanding Adoption Across Europe and Beyond

BOCA RATON, Fla., Dec. 18, 2024 /PRNewswire/ — 24/7 Software, a global leader in operations management technology, continues to achieve remarkable growth as it strengthens its presence in Europe and expands into the Middle East. The company’s platform is being embraced by organizations across EMEA, demonstrating its value in delivering real-time, data-driven solutions that optimize operations, improve safety, and elevate the overall experience for users.

Health and Safety Teams Leading the Charge

Health and safety teams are increasingly turning to 24/7 Software to digitize and streamline their processes. Prestigious venues such as Co-op Live, The O2, and Chester Race Company utilize the platform to enhance safety, compliance, and operational efficiency. This adoption highlights the growing recognition of 24/7 Software’s ability to address critical organizational needs with ease and precision.

Unlocking the Power of Analytics

European customers are reaping the benefits of 24/7 Software’s powerful analytics tools, enabling better decision-making and operational insight. Chester Race Company is an example of an organization leveraging these advanced analytics to optimize performance and ensure a seamless experience for staff and patrons alike.

Revolutionizing Facilities Management in Premier League Football

Facilities management teams in the world of Premier League football are harnessing 24/7 Software to manage match-day operations, centralize communication, and enhance the fan experience, proving its value as an essential tool for some of the most demanding organizations.

A Growing Presence in the Middle East

In addition to its success in Europe, 24/7 Software is making significant inroads into the Middle East. The region’s organizations are adopting the platform to enhance operations and drive innovation, further solidifying 24/7 Software’s position as a global leader in operations management technology.

“24/7 Software is dedicated to empowering organizations around the world with cutting-edge solutions that improve efficiency and safety,” said Justin King, Executive Vice President at 24/7 Software. “Our expansion into Europe and the Middle East reflects the growing demand for reliable, versatile tools that transform the way businesses operate.”

About 24/7 Software

24/7 Software is a global leader in operations management software, serving the world’s top venues, sports leagues, and entertainment organizations. Its innovative technology helps these organizations improve safety, security, facilities management, and the guest experience, backed by unparalleled support.

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Finsulate One of Business Worldwide Magazine’s Top 20 Most Innovative Companies to Watch in 2024

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Recognised for its groundbreaking work in the maritime industry, Finsulate has been named as one of the Top 20 Innovative Companies to Watch in 2024 by Business Worldwide Magazine.

LONDON, Dec. 18, 2024 /PRNewswire/ — The list recognises trailblazing organisations redefining industries through groundbreaking technologies and transformative business practices. These companies define the future through innovation and disruption, from healthcare to energy.

Finsulate’s toxin-free antifouling wrap is reshaping its sector by offering an eco-friendly, cost-effective alternative to traditional antifouling paints. Biofouling, the buildup of marine organisms like barnacles and algae on ship hulls, has long been a costly and environmentally damaging issue. It increases drag, driving up fuel consumption, carbon emissions, and maintenance costs. Traditional antifouling paints, reliant on biocides, address the problem but at the cost of leaching harmful toxins into marine ecosystems.

By mimicking the textured surface of a sea urchin, Finsulate’s antifouling wrap prevents marine organisms from attaching to vessels without relying on harmful chemicals, resulting in superior performance:

Eco-Friendly Design: 100% free of biocides and toxins, safeguarding marine habitats.Longevity: Lasts 8–10 years, vastly outliving traditional antifouling paints.Cost Efficiency: Reduces the need for frequent maintenance and significantly lowers fuel consumption.Convenient Maintenance: Minor fouling can be removed easily while the vessel remains in water, minimising downtime.

Since its debut, Finsulate has been applied to over 800 vessels worldwide, from leisure yachts to large commercial ships and offshore wind installations. Early adopters have reported transformative results, including a steel sailing yacht treated in 2013 that remains largely biofouling-free over a decade later.

Finsulate is driving success stories whilst championing a broader shift towards sustainability within the maritime industry. Key impacts include:

Reduced Carbon Emissions: Improved fuel efficiency supports global climate goals.Preserved Marine Ecosystems: Biocide-free solutions protect biodiversity and minimise microplastic pollution.A Circular Economy: At the end of its lifecycle, Finsulate’s wrap is recyclable, aligning with cradle-to-cradle principles.

Founder Rik Breur encapsulates the company’s mission: “Sustainability is more than a trend; it’s our responsibility. Together, we can create a better future for our oceans.”

For more information about Finsulate and its transformative technology, visit finsulate.com.

Further information about the 2024 Business Worldwide Magazine Awards, including the Top 20 Most Innovative Companies to Watch list, can be found at https://www.bwmonline.com/20-most-innovative-companies-to-watch-2024-winners/

About Business Worldwide Magazine

Business Worldwide Magazine is the leading source of business and dealmaker intelligence throughout the world. Our quarterly magazine and online news portal enable an established audience of corporate dealmakers to track the latest news, stories and developments affecting the international markets, corporate finance, business strategy and changes in legislation. This readership includes CEO/CFO – Banks, Corporate Lawyers and Venture Capital/Private Equity Companies to name a few.

Contact
David Jones
Awards Department
E: david@bwmonline.com 
W:  www.bwmonline.com 

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Hisense to Showcase Future of Smart Living with “AI Your Life” at CES 2025

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QINGDAO, China, Dec. 18, 2024 /PRNewswire/ — Hisense, a leading brand in global consumer electronics and home appliances, is set to redefine smarter living with the debut of its AI ambition powered by a showcase of its latest innovations at CES 2025.

Recognized as the world No.1 in the 100”+ TV market, Hisense has set the global trend in large-screen with ever richer experiences. While product specifications are important, Hisense is constantly pushing boundaries to elevate every experience, connecting with people where they spend their time, and creating products that enhance life’s most meaningful moments and inclusive for all.

For Hisense, AI isn’t just a vision of the feature, but the backbone of product innovations, designed to simplify life and make every moment memorable. By integrating AI technology with cutting-edge Hi-View AI Engine, Hisense is enabled to deliver a more authentic, highly detailed, and vibrant viewing experience for everyone, integrated seamlessly to improve daily experiences and delivering unmatched energy efficiency.

From January 7-10, Hisense will be showcasing the very latest technological breakthroughs at the Central Hall, Booth 16625 at the Las Vegas Convention Center, offering a glimpse into the future of unparalleled AI-driven lifestyle experiences.

A key theme of Hisense’s booth is the scenario-based application of AI technology, reinforcing its leadership in TV and expertise in delivering outstanding picture quality, whilst providing visitors a first-hand experience of the integration of AI in transforming modern lifestyles. Featuring 17 immersive experiences and 59 technical highlights, Hisense will unveil a veritable suite of premium products, including ULED MiniLED TVs, Laser TVs and other smart home appliances, along with advanced applications in automative, commercial displays, healthcare and energy systems.

To kick-off CES 2025, Hisense will host an exclusive press conference on January 6 from 9:00 AM to 9:45 AM PST in the Jasmine Room at Mandalay Bay, the day prior to the official CES opening.

Hisense at CES 2025
Event Dates: January 7-10, 2025
Location: Las Vegas Convention Center, Central Hall
Booth Details: Hisense at Booth 16625

About Hisense

Hisense is a leading global home appliance and consumer electronics brand. According to Omdia, Hisense ranked No. 2 globally for total TV shipments and No. 1 in 100″+ TVs. The company has expanded quickly to operate in more than 160 countries and specializes in multi-media goods, home appliances, and intelligent IT information.

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