Social Networking Sites in the US - Industry Market Research Report

Making new friends: New sites will continue to enter the industry and exacerbate competition

Since going mainstream over a decade ago, hundreds of millions of Americans have embraced social networking sites, including Meta, Twitter, LinkedIn and dozens more. People use these networks to maintain relationships with friends, follow the news and share photos and videos. By leveraging user data for targeted advertisements, where most revenue is derived, sites have been able to capitalize on the popularity of their platforms. As a result, industry revenue has increased at a CAGR of 16.7% over the past five years, including an increase of 15.0% to total an estimated $95.2 billion in 2023 alone. The industry has benefited from the continual shift of advertising spending to the internet, the proliferation of internet-connected mobile devices and more powerful networks.

This industry includes social networking website publishers and developers. The industry does not include companies that predominantly develop blogs, games, internet content, messaging services, online dating websites, online recruitment websites, online forums or online videos.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.