The global social networking app market was valued at usd 49. 09 billion in 2022 and is expected to grow at a compound annual growth rate (cagr) of 26. 2% from 2023 to 2030. The united states is the leading worldwide market for social media advertising, with a total expenditure of 72. 3 billion us dollars in 2023, followed by china and the united kingdom, with. Mar 26, 2024 · social media has exploded in popularity, with a staggering 5. 16 billion users worldwide. Usage is highest in north america and europe where over 80% are active users. Youtube and instagram followed with at least two billion.
In 2024, social media advertising spending worldwide will amount to an estimated 234. 14 billion u. s. It will grow from $219. 06 billion in 2023 to $251. 45 billion in 2024 at a compound annual growth rate (cagr) of 14. 8%. The growth in the historic period can be attributed to internet.
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