Social Networking has Evolved from Being a Mere Platform to Bring Together People

Social Networking Market

Social networking has evolved from being a mere platform to bring together people who share activities, interests, real-life connections, or backgrounds. Companies today are using social networking sites such as Twitter and Facebook to build brand images, expand client base, recruit potential employees, and engage with consumers.

The popularity of social networking sites depends on and varies by the level of usage among different demographics and in different countries. The research report compares the most popular social networking sites, reviews them on the basis of active account usage, number of user accounts, and frequency, and offers a summary on the latest trends that govern the social networking market.

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Details on which is the most popular social networking site worldwide, fastest growing network, and use of social network by different demographics are covered by the report. In addition, the report also offers a look at the leading players in the social networking market, their features, product strengths and weaknesses, business strategies, market size and share, regional breakout, and forecasts through 2017.

Overview of the Social Networking Market

As of October 2014, Facebook had an estimated 1.36 billion active monthly users. Market analysts, however, have indicated that although Facebook continues to be the top-ranking social networking site in 2015, it is no longer growing at the pace it was a couple of years ago. With a figure rounding off at 343 million, Google+ in 2013 became the social networking site with the second highest number of monthly users. Facebook, however, has managed to retain its surging revenues even today thanks to the introduction of video calls and the acquisition of WhatsApp in February last year.

Social networking sites have opened up a world of opportunities for both enterprises and consumers. Vendors in the enterprise social networking space such as Broadvision, Atlassian, Jive, IBM, Salesforce, Microsoft, Telligent, Social Text, and Yammer, and players in the consumer social networking sphere such as Facebook, Badoo, LinkedIn, Google+, Qzone, MySpace, Yelp, and Twitter have not only presented a platform to engage users and expand their services, but also turned out to be one of the most promising methods of revenue generation. Opportunities for content management companies, social media advertizing agencies, social media managers, and social media strategists have received a boost thanks to the global growth of the social networking market.

Growing penetration of internet connectivity, economic growth and rise in disposable incomes in emerging economies, change in lifestyle, proliferation of smartphones, development of the e-commerce industry, and transition from texted-based content to image-centric solutions has fueled the growth of the social networking market.

Companies Mentioned in the Report

The leading players competing in the global social networking market today are Classmates, Tumblr, Inc, Google+, Meetup, Tagged Inc., Facebook, Inc., LinkedIn Corporation, Twitter Inc., MeetMe, Inc., Flickr, VKontakte, Instagram, Pinterest, Vine, and Ask.fm.

Some of these players are profiled in the research report based on parameters such as company and financial overview, recent developments, business strategies, and a SWOT analysis.