Social Networking - Australia

Australia

The Social Networking market in Australia is poised for substantial growth in the coming years.
By 2022, the total revenue in this market is projected to reach €2.14bn.
This revenue is expected to increase at an annual growth rate of 4.72% between 2022 and 2027, resulting in a projected market volume of €2.71bn by 2027.
Within the Social Networking market, revenue from in-app purchases (IAP) is projected to reach €191.30m in 2022.
Similarly, revenue from paid apps is expected to reach €0.30m in the same year.
Additionally, advertising revenue in the Social Networking market is projected to reach €1,947.00m in 2022.
In terms of user engagement, the number of downloads in the Social Networking market is projected to reach 25.49m downloads in 2022.
Furthermore, the average revenue per download is currently estimated to be €83.91.
When comparing the global landscape, it is noteworthy that in China generates the highest revenue in the Social Networking market.
In 2022, in China's revenue is projected to reach a staggering €47.13bn.
These numbers highlight the immense potential of the Social Networking market in Australia.
As technology continues to evolve and user engagement increases, the market is expected to witness significant growth and opportunities for businesses in the country.

Key regions: China, Europe, Asia, South Korea, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.