One of the primary factors contributing to the growth of the global social networking market is the fact that social media is being increasingly acknowledged as a platform that helps in directing search keywords towards the websites of companies, leading to enhanced website traffic and brand popularity/visibility. The proliferation of smartphones is also playing a vital role in the growth of the market. A large number of active users access social media through mobile phones. Social media apps designed for smartphones regularly track activities and further increase the relevance of social media marketing. The growing transition from texted-based content to image-centric solutions is likely to provide a significant boost to the growth of the global social networking market in the near future.
The regional markets methodically examined in the report are North America, Asia Pacific, Europe, and Rest of the World. North America is estimated to command a large share in the market owing to the high penetration of social media and domicile of a large number of key players. However, the market in this region is mature in nature. The Asia Pacific is estimated to emerge as a lucrative market over the forecast horizon. The growth of the region can be primarily attributed to the rising penetration of smartphones and expanding the base of internet subscribers.
Most of the players in the global social networking market are focusing on innovating and updating their platforms/solutions to consolidate their presence in the market.
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