MarketResearchReports.Biz has announced addition of new report "Global Social Networking Market 2016-2020" to its database.
Market outlook of the global social networking market
Technavios research analyst predicts the global social networking market to grow at a CAGR of around 18% during the forecast period. Social media advertising has gained popularity over the past decade, mainly due to the active participation of social media users. Social media advertising offers a solid platform for advertisers to exhibit their brands/products, especially during global events, which are actively followed across the world.
One of the reasons for the growth of advertisement spending on social media is the fact that social media acts as a platform that helps in directing search keywords toward the companys website, leading to increased website traffic and brand popularity/visibility. Besides, social media allows brands to interact with people by offering an effective platform for communication, thereby leading to higher conversion rate and improved brand loyalty.
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Segmentation by device and analysis of the social networking market
Social network advertisement spending on desktop computers
Social network advertisement spending on mobile devices
Although desktop computers accounted for around 51% of the total social media advertisement spending during 2015, the market is expected to shift significantly toward advertisement spending on mobile devices during the forecast period. This is mainly due to the growing usage of smartphones and tablets. Mobile devices help in effectively targeting potential audience as most personal and professional interactions take place in these devices. Social media apps designed for mobile devices regularly track these interactions and further increase the relevance of advertisements.
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Geographical segmentation and analysis of the social networking market
The market in the Americas is mature as North America accounts for around 93% of the market share in the region. It has a social media penetration of around 58%, which is the highest globally. Though this existing high penetration makes it difficult to attract new users toward social media, it offers brands a broad base of target audience, resulting in greater chances of monetizing their advertisement efforts.