For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.
Key stat: With 13.4% YoY user growth in 2023, Snapchat will briefly overtake TikTok (12.7%) as the fastest-growing social media platform worldwide, according to our forecast. TikTok will regain the title come 2024.
Beyond the chart:
Almost half (48.3%) of the world and 81.7% of all internet users are already on social media, according to our forecast. Growth has slowed significantly and is highest in the Middle East, Africa, and Asia-Pacific.
Snapchat is growing in India, with an expected 183.6 million users this year, largely as a result of the country’s TikTok ban.
This year, over a fifth (21.7%) of the world’s population will be users of TikTok or its Chinese counterpart, Douyin. However, a potential ban could hurt future US growth.
Use this chart:
Effectively distribute budgets for social media ad campaigns.
Evaluate ad strategy in the event of a US TikTok ban.