Social Networking Market 2024 Business Analysis Report by Current Industry Size and the Future Potential of the Sector

The revolution of smartphones and increasing penetration of internet connectivity play a major role in driving the growth of social networking market. With social websites and applications being among the most used features on mobile, the coming years is certainly expected to see social media sites and optimized web becoming the norm, and contextualized real-time and geo-targeted content, a necessary component in every digital marketing strategy. Integrated social advertising, social video and agile marketing are some of the other important drivers of the ****** social networking market.

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Amongst all the social networking sites, in terms of driving the social networking traffic, Facebook Inc. dominates the ****** social networking market followed by Pinterest and Twitter. In February 2014, the market for Facebook witnessed drastic change with the acquisition of Whatsapp by Facebook, which has led Facebook to maintain its increasing profits. Some of the other social networking sites driving the social networking traffic are LinkedIn, Google+, Flickr, Meetup, Instagram, Tumblr and Vine among others.

One of the dominant drivers for the growth of social networking market is free access and availability of majority of social networks (such as Facebook, Linkedin, Twitter and others). Moreover, the ease of use, user friendly interface, and instant information sharing features of the social networks are some of the other drivers of the ****** social networking market.

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However, concern over the identity thefts and security of personal information are the major challenges for social networks around the globe. Criminal gangs target social networking sites, as they offer an effective way of propagating malware to a wide, unsuspecting audience. The Orkut worm (2007), MySpace trojan (2006), and the secret crush Facebook widget (2008) are some examples of illegal groups that have used social networking sites in past for their advantage. It is very easy for people to get carried away and post too much information about themselves on social networking sites, which leads to identity theft or phishing attacks and assist the growth of cybercrime.

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