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OverviewAPI
The global social networking market is projected to reach USD 49.09 billion in 2022 with a CAGR of 26.2% from 2023 to 2030, driven by increasing internet penetration, smartphone adoption, and virtual connectivity. The market is projected to reach USD 179.22 billion by 2029, with a CAGR of 17.09%, influenced by the growing influence of social media on purchasing behaviors and the rise of platforms like TikTok. Additionally, the market is projected to reach USD 163.6 billion by 2027, with a CAGR of 16.9%, fueled by increased demand from various age groups, marketing purposes, and business use of social media analytics. The COVID-19 pandemic has had a mixed impact on the market, with some sectors negatively affected but others experiencing increased usage.

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