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Social Media

Industry Outlook

The outlook for the social media industry is excellent. New technologies are making Internet connections faster and easier, and users are increasingly connecting to the Internet and social media via their smartphones and other digital devices. Interest in social media is expected to increase because social media usage is transitioning from desktop PCs and laptops to mobile devices. In 2023, 90 percent of people in the United States had smartphones, according to the Pew Research Center, with 18–29-year-olds solidly at 97 percent ownership. By 2025, 72.6 percent of Internet users will access the web solely via their smartphones, according to a report from the World Advertising Research Center. The increase in mobile devices has opened new markets for social media companies, since more people in developing countries own smartphones than computers.

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