Social networking on mobile terminals will lead to a new round of user growth.
San Francisco, CA (PRWEB) August 21, 2013
The Social Networking industry in China has been growing at the phenomenal annualized rate of 68.6% over the past five years and is estimated to generate $2.2 billion in 2013, says IBISWorld.
The majority of social networks are local and small in size; therefore, the industry is subject to a low concentration level. The top four enterprises – China InterActive Corporation, Tencent Holdings Limited, SINA Corporation, and Beijing Kaixinren Information Technology – contribute a third of total industry revenue. Market share concentration has decreased over the past five years as more enterprises entered the Social Networking industry, attracted by the success stories of networks like Renren and Kaixin.
According to the Statistics Report on Internet Development in China, released by the China Internet Network Information Center, domestic social network users reached 298.5 million in 2012 and accounted for 52.9% of overall internet users. IBISWorld expects further growth in users in 2013, contributed by newly established networks and increased social networking on mobile terminals.
Online games will continue to be a major revenue source for social networks, and in-game advertising will grow in popularity, says IBISWorld. Integration with e-commerce will be another significant trend over the next few years. Early trials of e-commerce within social networks include Tuangou and Nuomi, which was introduced by the China InterActive Corporation.
For more information, visit IBISWorld’s Social Networking industry in China industry report page.
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IBISWorld Industry Report Key Topics
The Social Networking industry in China is rooted in two aspects: social intercourse and the internet. Enterprises within the industry create online communities with a group of people who share similar interests. Registered users are provided with various methods of communicating with each other.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.