TikTok has transformed the way media is consumed; its users are drawn to the platform’s short and engaging videos, AI-driven recommendations, and easy-to-use creative tools. It’s now disrupting social commerce with TikTok Shop, which is especially evident in Southeast Asia.
TikTok has had a tumultuous global ascent. The social platform has been banned in India since mid-2020 and now faces an uncertain future in the US. This year, for the first time, its worldwide user growth rate will fall to single digits, per our forecast. TikTok has now focused its growth strategy in Southeast Asia, and in June 2023, it pledged to invest billions of dollars in the region over the next few years.
In one story, regions like Asia-Pacific, the Middle East and Africa, and Latin America lead in both user numbers and user growth. In the other, North America, Western Europe, and Central and Eastern Europe are all lagging in both of those measures. Asia-Pacific’s potential as a region that will drive growth is rooted in its vast population, speed of growth, and emerging middle class.
Click here to view our full forecast on TikTok users by country.
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First Published on Jun 17, 2024