Social media is one of the largest industries in the world because of the fact that this is the sort of thing that could potentially end up helping people to stay connected with each other. There have been numerous roadblocks such as questions surrounding privacy that threatened to make the growth rate of this industry slower than might have been the case otherwise. In spite of the fact that this is the case, it is estimated that there will be around 3.86 billion social media users this year.
With all of that having been said and now out of the way, it is important to note that this represents just under half of the global population, or 48.3% to be precise. Unsurprisingly, 60% of the total internet users around the world hail from the Asia Pacific region.
All of the five countries that will show the highest volume of social media penetration are from this locale, including China, Vietnam, Malaysia and Thailand. The Philippines is a particularly prevalent success story for the industry, since 98.6% of its internet users are on social media with all things having been considered and taken into account.
As for the growth rate for social media users, India is expected to see its numbers rise by a whopping 6.9% in 2023 alone. This growth rate makes the rest of the region pale in comparison. India is shaping up to be an enormous player in this arena which will see an increasing level of prevalence in terms of the level of importance it is given by the companies offering these services. The MENA region is also predicted to see a 5.4% growth rate.
The growth rate in the West is not really reaching these levels. For example, in North America, the number of social media users is projected to increase by 1.9%. Western Europe is faring even worse, with just a 1.8% uptick on the cards.
As influence in social media moves further eastward, the industry may need to pivot in order to cater to its new consumer base. These new consumers will have a different set of requirements.
H/T: Insider Intelligence / eMarketer
Read next: New Survey Shows People Are More Likely to Ask for Financial Advice than Relationship Advice
With all of that having been said and now out of the way, it is important to note that this represents just under half of the global population, or 48.3% to be precise. Unsurprisingly, 60% of the total internet users around the world hail from the Asia Pacific region.
All of the five countries that will show the highest volume of social media penetration are from this locale, including China, Vietnam, Malaysia and Thailand. The Philippines is a particularly prevalent success story for the industry, since 98.6% of its internet users are on social media with all things having been considered and taken into account.
As for the growth rate for social media users, India is expected to see its numbers rise by a whopping 6.9% in 2023 alone. This growth rate makes the rest of the region pale in comparison. India is shaping up to be an enormous player in this arena which will see an increasing level of prevalence in terms of the level of importance it is given by the companies offering these services. The MENA region is also predicted to see a 5.4% growth rate.
The growth rate in the West is not really reaching these levels. For example, in North America, the number of social media users is projected to increase by 1.9%. Western Europe is faring even worse, with just a 1.8% uptick on the cards.
As influence in social media moves further eastward, the industry may need to pivot in order to cater to its new consumer base. These new consumers will have a different set of requirements.
H/T: Insider Intelligence / eMarketer
Read next: New Survey Shows People Are More Likely to Ask for Financial Advice than Relationship Advice
