Social Networking - Finland

Finland

The Social Networking market in Finland is expected to see significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €92.73m by 2022.
This indicates a promising future for the industry in the country.
Furthermore, it is anticipated that the Social Networking market will continue to expand at an annual growth rate of 5.12% from 2022 to 2027.
This steady growth trajectory is predicted to result in a market volume of €125.80m by 2027.
In terms of revenue streams, in-app purchases (IAP) are projected to contribute significantly to the overall revenue in the Social Networking market.
It is estimated that in-app purchase revenue will reach €7.94m in 2022.
Additionally, paid app revenue is expected to reach €0.08m in the same year.
Advertising revenue, on the other hand, is projected to reach €84.71m in 2022.
The number of downloads in the Social Networking market is also expected to increase steadily, reaching 4.13m downloads in 2022.
This indicates a growing user base and potential for further revenue growth.
Currently, the average revenue per download in the Social Networking market is estimated to be €22.47.
This metric reflects the average amount of revenue generated from each user download.
In a global comparison, it is worth noting that in China stands out as the market leader in terms of revenue generation in the Social Networking market industry.
In 2022, it is projected that in China will generate a substantial revenue of €47.13bn.
Overall, the Social Networking market in Finland is poised for growth, with increasing revenue and user engagement in the coming years.
The projected figures highlight the potential for further expansion and development in this market segment.

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

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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.