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Over the past five years, 1.8 billion people have started using social media, helping platforms like Facebook, Instagram, and TikTok reach more users than ever. Although the growth rates in the social media space have significantly slowed down compared to 2020 and 2021, the number of users continues to rise.
RELATED: 95% of Internet users use social media platforms, 4% more than last year
According to data presented by OnlyAccounts.io, more than 215 million people have joined the social media space in the last year, pushing the total number of users to 4.95 billion, or 61% of the global population.
The Number of Users to Grow by 20% and Hit Over Six Billion by 2028
The social media landscape has marked a decade of continuous user growth, adding an average of 350 million new users per year. COVID-19 undoubtedly had a massive role in that growth. But even two years after the lockdowns, hundreds of millions of people join social media platforms each year for entertainment and to connect with others.
According to Data Reportal Digital 2023 Global Statshot Report, as of October 2023, there were 4.95 billion social media users worldwide, or 61.4% of the global population. That means around 215 million people joined the social media space in the past year, showing a 4.5% increase year-over-year.
The Statista survey showed the following years will see similar growth rates. By 2025, more than half a billion people will join social media, pushing the total user count to a whopping 5.41 billion. Statista expects another 600 million people to start using social media platforms in the following years, with the total number of users climbing to over six billion by 2028. The user penetration rate will also significantly increase, rising from 63.7% in 2023 to over 75% in 2028.
Statistics show more than 60% of all social media users in 2028, or 3.6 billion, will come from Asia. Europe and North America will have a much smaller share in total user count, with 700 million and 500 million users in 2028, respectively.
Instagram to Grow Faster than Facebook and TikTok
And while all major social media platforms will see double-digit user growth in the coming years, none can compete with Instagram. The photo and video-sharing app hit 1.32 billion users in 2023, 6% more than a year ago. However, this figure is expected to jump by another 22% and hit 1.6 billion by 2028.
According to Statista, Facebook will see an 18% user growth in this period, with the number of users growing from 2.7 billion to almost 3.2 billion. TikTok will see similar growth rates, increasing its user base by 19% to 2.3 billion in the next five years. LinkedIn and Snapchat follow with 13% and 17% growth rates and 845 million and 691 million users by 2028.
The Statista survey also showed that X, formerly Twitter, will see the smallest user growth of all major social media platforms, rising by 12% to 465 million.
The full story and statistics can be found here: https://onlyaccounts.io/blog/social-media-platforms-hit-4-95-billion-users-in-october-61-of-the-global-population/
