Digital Disruptors: The Global Competitive Landscape of Social media

Key Findings

There is still plenty of market for social media to reach

With 45% of the global population still without access to the internet in 2020, there are still billions of consumers offline. Most of these are positioned within emerging markets which have been striving for higher investments in both fixed and mobile broadband in recent years. Further development will result in billions of potential new users within markets with traditionally high social media engagement levels, such as India and Indonesia.

COVID-19 accelerates the digital curve

The COVID-19 outbreak inevitably led to a strong acceleration of what was expected years ahead, meaning that more people are shifting their activities towards online channels. Both businesses and consumers have had to rapidly adapt to the reality and long-term shifts are expected. This enhanced digital mindset will likely benefit the social media industry.

Opportunity for social media to become the new super apps

The transformation of mobile apps and the increase in smartphone usage indicates that consumers are increasingly looking for a single app that can deliver multiple functionalities, which has become known as a super app. As API integration becomes more feasible, Western social platforms are striving to trace in their Asian peers’ footsteps and increase their service portfolios.

Increasing concerns around privacy will become a significant issue

Consumers are evermore aware of the amount of data shared online and are becoming more sceptical about how and for what social media uses their information. With government regulations becoming harsher to ensure privacy, and personal and unique experiences depending on data, platforms will become increasingly cornered between giving what consumers expect while respecting compliance rules.