One of the defining phenomena of the present times reshaping the world as we know it is the worldwide accessibility to the internet. The lovechild of the World Wide Web is social media. This comes in many forms, including blogs, forums, business networks, photo-sharing platforms, social gaming, microblogs, chat apps, and last but not least social networking sites. The power of social networking is such that, the number of worldwide users is expected to reach some 2.95 billion by 2020, around a third of Earth’s entire population. An estimated 650 million of these users are expected to be from India alone and approximately a third of a million from China. The region with the highest penetration rate of social networks is North America, where around 60 percent of the population has at least one social account. As of 2016, 78 percent of the United States population had a social networking profile.
Leading social networks usually, boast a high number of user accounts or strong user engagement metrics. For example, Facebook is the only social network having surpassed the 1 billion monthly active user mark and has, as of 2016, more than 1.7 billion MAU worldwide. Shortly after its launch, relative newcomer Pinterest was the fastest independent website in history to reach more than 10 million monthly unique visitors. But it still lags behind other strong players, such as photo-sharing social network Instagram or microblogging platform Tumblr.
Recently, social networking has demonstrated a clear shift towards mobile platforms. Smartphone and tablet apps, as well as mobile web access, have facilitated the constant presence of mobile-first or mobile-only platforms such as Twitter, Instagram, or Snapchat. Furthermore, they have heightened the profile of location-based services like Foursquare and enabled users to comfortably access visual blogging sites including Tumblr and Pinterest via tablet. But the undeniable leader of mobile social networking is, once again, Facebook. As of the second quarter of 2016, almost one billion Facebook users accessed the social network exclusively via mobile devices, up from 655 million users in the corresponding quarter of the previous year. Furthermore, according to industry experts, in a few years most interactions on Facebook will be conducted from a mobile device
It is not that if Facebook is gaining then there is no more space to start something similar. We have worked with ventures that have much potential and would succeed growingly. Facebook just falls in one category of Social Networking Industry. There are many more categories and even Facebook, Instagram, Snapchat, etc all fall in one category but still are very different from each other. So, we suggest you to make your mind and let’s have a word about your vision. If you have already categorized your venture, you must look at the information about your category among following: