In 2017, the Asia-Pacific region accounts for approximately half of social media users worldwide.*
In 2017, marketers spend more than $11 billion on advertising on social media in the United States.**
By 2020, over 5 billion people use social networks, about two-thirds of the world’s population.***
In 2020, social networks penetrate all realms of life as individuals and governments explore new ways to tap into the power of the crowd. Location data used in conjunction with social networks create hyper-local social platforms. Niche or specific-interest based social networks allow people to customize and filter content, while privacy concerns drive the growth of temporary social media platforms. Social media provides a vital stream of data used by governments and corporations for advanced analytics and sentiment analysis.
Social media in 2020:
- Social goes hyper local with the interplay between social and geo location technologies, allowing consumers, businesses and governments to connect and share on local issues.
- Temporary social media becomes mainstream where interactions are deleted after a specified time, thus enhancing user privacy.
- Social network enable public safety by offering platforms that track individuals ‘marked’ as possible convicts by national security agencies.
- Niche social networks emerge connecting users with specific interests, leading to market fragmentation.
- Social TV allow content creators and providers to deliver customized content based on social media activity of the users.
*”Social Media Growth 2013 – 2017: Every Forth Person On Planet Use Social Media,” DazeInfo, http://www.dazeinfo.com/2013/06/20/social-media-growth-2013-2017-every-forth-person-on-planet-use-social-media-study/.
**”BIA/Kelsey Forecasts U.S. Social Media Ad Spending to Reach $9.8 Billion by 2016,” BIAKelsey, http://www.biakelsey.com/Company/Press-Releases/120515-U.S.-Social-Media-Ad-Spending-to-Reach-$9.8-Billion-by-2016.asp.
***”What Will Social Media Look Like in 2020?,” WSJDigitalNetwork, http://www.youtube.com/watch?v=k-9bzC8u8NE.