Business
ALTHOUGH far behind the world`s largest social media platforms in terms of revenue and users, Snapchat has seen impressive growth in the past years. The number of people using the photo and video-sharing app has doubled since 2018, outpacing the growth of the top players in the social media space.
According to data presented by OnlyAccounts.io, Snapchat is expected to dethrone TikTok and become the fastest-growing social media platform, with a 13.4% user growth in 2023.
Snapchat Growing Almost 2x Faster Than Instagram
Launched in 2011, Snapchat has quickly climbed the chart of the most popular social media apps. Last year, nearly 550 million people worldwide used the app to share snippets of what they do throughout the day, a massive increase from 245 million users reported in 2018.
The impressive growth followed Snapchat`s efforts to provide its users with a different experience of sharing photos and videos. So far, the platform launched more than a hundred features, including Stories, Spectacles, Spotlight, voice filters, and Bitmoji TV.
Although Snapchat is still far behind Facebook and Instagram in total user count, the app will see the biggest year-over-year growth of all top social media platforms, increasing its user base by 13.4% in 2023.
That means Snapchat`s user base is growing almost two times faster than Instagram, which will see a 7.9% user growth this year. Snapchat`s growth rates are even more impressive when compared to Facebook, the number one platform in the social media space. According to an eMarketer survey, Facebook will see the smallest year-over-year growth among the top social media platforms of only 1%.
TikTok closely follows Snapchat, with a 12.7% user growth in 2023. On the other hand, Twitter is the only platform that will see its user count drop, falling by 2.7% year-over-year.
More than 670 million people to use Snapchat by 2027
Over the past five years, more than 300 million people started using Snapchat to share photos and videos. The app has remained the most popular social network among teens, especially in the United States, where nearly 60% of internet users aged 13 to 24 use it daily.
The surging popularity among younger generations will help Snapchat gain nearly 90 million users in the next four years. According to a Statista survey, after nine years of continuous user growth, the app will hit almost 674 million users and a new peak in 2027.
A.
-September. 05, 2023 @ 12:12 GMT |
Tags: Snapchat TikTok
