The study found that the global increase in social media usage since 2017 is around 13%.
A recent study by Absolute Markets Insights highlights how the growing penetration of smartphones and abundantly available internet connectivity has increased the number of global social media users over the years. Around 53% of the total population of North America was present on social media in 2011. By 2018, the percentage had gone up to 80%.
There were around 3.397 billion active social media users as of January 2019. These numbers indicate that the user engagement rate on social platforms is higher than ever before. Additionally, the average adult leading an urban lifestyle spends an average of 116 minutes a day on social media. Interestingly, this increasing number of social media users is expected to drive digital marketing software in the coming years.
In terms of revenue, North American held the highest market share in 2018 and is further projected to witness sustainable growth over the forecast period (2021-2027). Small and medium enterprises are also expected to grow at a CAGR of 18.08% between 2021 and 2027.
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