Social Networking - New Zealand

New Zealand

The Social Networking market in New Zealand is expected to experience significant growth in the coming years.
By 2022, the total revenue in this market is projected to reach NZD US$143.50m.
This is just the beginning, as the market is anticipated to show a steady annual growth rate of 6.40% from 2022 to 2027.
By the end of this period, the market volume is estimated to reach NZD US$206.10m.
When it comes to revenue streams within the Social Networking market, in-app purchases (IAP) are expected to contribute NZD US$23.82m in 2022.
Additionally, paid app revenue is projected to reach NZD US$0.10m in the same year.
Advertising revenue, on the other hand, is anticipated to reach NZD US$119.60m.
In terms of user engagement, the number of downloads in the Social Networking market is projected to reach 7.86m downloads in 2022.
This signifies the popularity and widespread adoption of social networking platforms in New Zealand.
Furthermore, the average revenue per download is expected to amount to NZD US$18.27.
It is worth noting that despite the growth anticipated in New Zealand, a global comparison reveals that the majority of revenue in the Social Networking market is generated in China.
In 2022 alone, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is projected to generate a staggering revenue of CNY US$49.67bn.
This highlights the dominance and influence of the Chinese market in the social networking industry.

Key regions: China, Europe, Asia, South Korea, India

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.