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The social media space has grown tremendously in recent years, becoming an inevitable part of everyday life for billions worldwide. Today, social media platforms count more users than ever, and their number keeps rising.
RELATED: Internet users to reach six billion in next five years
According to data presented by OnlyAccounts.io, as of October 2023, nearly 95% of all Internet users used social media platforms, or 4% more than last year.
Social Media Users Growing Faster than the Global Internet Population
Although the growth rates in the social media space have significantly slowed down compared to 2020 and 2021, the entire market has still seen a decade of continuous user growth. Since 2019, an average of 350 million people have joined social media platforms each year, pushing the total user count to all-time highs.
According to Data Reportal Digital 2023 Global Statshot Report, as of October 2023, there were 5.3 billion internet users worldwide, or 65.7% of the global population. This means that internet users have grown by 189 million, or 3.7% year-over-year.
Of this total, 4.95 billion, or 61.4% of the world’s population, were social media users. Interestingly, statistics show social media users have grown faster than the global internet population. Since last year, the number of social media users has increased by 4.5%, with around 215 million people joining the social media space.
And while the number of users grows, the time spent using social media has actually dropped. According to a Data Reportal survey, as of October, internet users spent an average of two hours and 24 minutes each day on social media, or four minutes less than last year. At the same time, the average daily time spent using the internet has increased by four minutes and now stands at six hours and 41 minutes.
Social Media Platforms to Hit Over Six Billion Users in the Next Five Years
And while social media platforms have more than 4.9 billion users today, this number is expected to grow by a further 25% in the following years. According to a Statista survey, more than 1.1 billion people will join social media in the next five years, pushing the total user count to a whopping six billion. The user penetration rate will also significantly increase, rising from 63.7% in 2023 to over 75% in 2028.
Over 60% of all social media users in 2028, or roughly 3.6 billion, will come from Asia. Europe and North America will have a much smaller share in total user count, with 700 million and 500 million users by 2028, respectively.
The full story and statistics can be found here: https://onlyaccounts.io/blog/nearly-95-of-all-internet-users-use-social-media-platforms-4-more-than-last-year/
