London, 4 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global social networking market 2015-2019, which is expected to grow at a CAGR of 23.12% during the forecast period of 2014-2019.
Recently, there has been a shift in how people consume media. Many consumers are now demanding universal content access. Due to the growing mobile internet access, consumers will be able to stay connected to social networking sites all the time. This will provide an opportunity for marketers to reach out to their audiences through smart mobile devices.
“In the last decade, there has been a major shift in the consumption of media. People who used to spend most of their time on traditional media have shifted toward the digital platform. This has resulted in the shift in spending from traditional to digital marketing,” says Faisal Ghaus, Vice President of Technavio.
“When digital marketing came into existence, marketers were trying to increase website traffic and improve their presence online. However, that did not result in an increase in ROI. Therefore, the current trend is about creating conversations rather than generating traffic.”
Key Market Drivers:
- Growing Adoption of Smartphones and Tablets
- High Mobile Ad Spending by Major Industries
- Targeted Marketing
- Lower Cost than Standard Marketing
- Engaging Target Audience
- High ROI
- Growth in Start-ups
Key Market Trends:
- Demand for Ubiquitous Content Access
- Evolution of New Economic Models
- Shift in Consumption of Media
- Creating Conversation
- Shift in Spending from Traditional to Digital
- Growing Number of M&A
Key Market Vendors:
- Facebook Inc.
- Google Inc.
- LinkedIn Corporation LAD
- Tencent Holdings Ltd.
- Tumblr
- Twitter Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
