The Business Research Company’s latest report Social Media Market Report 2020 covers Social Media market drivers, Social Media market trends, Social Media market segments, Social Media market growth rate, Social Media market major players, and Social Media market size. The report provides in-depth analysis of the impact of COVID-19 on the Social Media industry, along with revised market numbers due to the effects of the coronavirus.
Social Media Market Report 2020 is the most comprehensive report available on this market and will help gain a truly perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The social media market is expected to grow from $88 billion in 2019 to $104.7 billion in 2020 at a compound annual growth rate (CAGR) of 19%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 31% from 2021 and reach $224.2 billion in 2023.
The report covers the Social Media market’s segments-
1) By Type: Advertisement, Subscription
2) By Service: Social Networking, Micro Blogging and Instant Messaging, Photo Sharing Networks
3) By End-User Industry: Retail and Wholesale, Transportation Manufacturing, Food and Beverages, Financial Services, Information Technology, Electrical And Electronics Manufacturing, Media and Recreation, Transportation Services, Healthcare, Others.
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