The social network market - Germany

Social networks are online platforms that allow to connect and communicate with other users, but also to share opinions, photo or video content. Social networks can be differentiated according to their main use (video on youtube, photo on pinterest, instant messaging on whatsapp, etc.), but also according to the users they are aimed at (professionals, teenagers, young adults, etc.). On a global level, the social networking market emerged with the advent of Facebook in the U.S. and has grown exponentially since then. Its great strength lies in its control over "data", which then allows brands or companies to target their population with great accuracy (age, location, interests, etc.) in order to market products. Furthermore, the value of a social network lies in the existing network of users; the connection between individuals makes up the whole value of the network, which explains why it is so difficult for new entrants to break into this market. However,more "specialized" social networks have successfully emerged in recent years, capitalizing on new forms of communication. Globally, the number of social network users has tripled to about 4.76 billion users in 2023[Datareportal]. The countries with the highest average usage time are nigeria, Philippines, Ghana, Colombia, and South Africa. From the company reports of the market leaders of social media platforms Meta and Twitter, the annual revenue growth (CAGR) between 2010 and 2021 is 40.61% and 54.11% , respectively. This shows a huge growth in demand with an upward trend. 89% of German Internet users aged 16 and over have used social networks in the last 12 months. This puts Germany in 45th place in a global comparison[Datareportal]. This market study examines demand trends, typology, and market structure and competitive analysis to offer insightful information.