Top Social Media Statistics and Trends of 2024
Google I/O has recognized social media as an even greater prominence in the web industry at their recent announcements. To engage with your audience, social media platforms like Instagram, Facebook, TikTok, and YouTube are set to become influential marketing arenas for your brand.
These noticeable changes make it essential for small businesses and marketers to realize current social media evolving user behaviors and trends on these platforms. We have a meticulously curated list of 2024 top social media statistics and trends that offers a crucial snapshot of current social media scenes.
Key Social Media Statistics in 2024
An estimated 5 billion statistics of social media users will be worldwide by 2024.
The number of social media users in the world has reached a record 4.9 billion, and by 2027 it is expected to rise to around 5.85 billion. The average user now interacts with six to seven platforms per month, not just a platform.
Highest-Used Social Media Platform
The price for social media apps was valued at $49.09 billion in 2022. With a projected 26.2% compound annual growth rate (CAGR) from 2023 to 2030, this value is expected to grow. Global adoption of 5G technology is the main force behind this growth. With 2.9 billion monthly users across the world, Facebook is the most used social media platform globally. YouTube trails behind with 2.5 billion users per month.
Highest Social Media Users Country
India has the highest number of Facebook users, about 448.1 million users. More than one fifth of people in India use Facebook; that means 31.8% of the total population. In India, 33.4% is active social media penetration.
The survey shows India will have 399.0 million social media users aged 18 or above by early 2024.
Overall, by January 2024, irrespective of age, at least 69.5% of all Internet users in India used a minimum of one social networking platform.
The power of social media technologies and the enormous impact of social media can be highlighted with these statistics. It’s crucial to use social media management tools to record this traffic.
Social Media Usage Statistics
A person spends approximately 145 minutes daily on social media on average. It’s fair to say that worldwide people spend about 145 minutes per day on social media, though time is valuable. Astonishingly, India has 141.6 minutes daily.
If this daily usage statistic continues over a 73-year lifespan, about 5.7 years of the whole life will be spent on social media platforms. These numbers also highlight the power of social media technologies with an effective strategy.
Most Engaging Social Media Content Type
Videos with short duration are the most engaging type of content on social media.
Conciseness and authenticity both are common on social media; short videos are typically less than a minute. Short videos hold the attention of 66% of consumers and are highly shareable. The bite-sized videos are 2.5x more engaging than longer videos, and 34% of consumers are more real.
The Most Common Methods of Accessing Social Media
The most common method that people use to access social media is using mobile phones. But the numbers are staggering: 99% of people use tablets and smartphones, and 78% use only phones. Only 1.32% outnumber mobile users who use desktops to access social media. The importance of mobile-focused social media strategies can be highlighted by this.
Highest Average Hours Spent Country
Nigerian people spend the highest average hours on social media. They lead the world in social media usage, spending more than four hours a day on social platforms. Next come the young people of the Philippines and India; they also exhibit higher participation rates.
This highlights the importance of the region in social media campaign planning and considering demographics.
Social Media Platforms Statistics
74.70% of internet users will use Instagram and make it the most popular social media network of the country, with about 516.92 million active users just from India, by 2024. A large portion of Instagram’s user base is covered with young people, especially teens. Instagram is dominated by Meta, and it’s acquired for $1 billion and has become an excellent sales platform for businesses and a revenue stream for creators.
The second most popular platform is Facebook, with 71.20% of internet users and 492.70 million active users only from India. Political systems, society alike, and corporations will continue to have a powerful impact in the future. Many well-known fans engage with their fans using Facebook.
Thinking about transportation? The evolution of social media highlights the importance of age-specific approaches in social media campaigns.
Social Media and Mental Health Statistics
Research shows a connection between social media use and depression among adolescents. Among the online activities filled with likes, shares, retweets, and reposts, teen depression and social media engagement recommend a problematic correlation. However, there is a bright side also: Researchers have found that people can build up friendships using social media.
Additionally, social media plays an important role in identifying common symptoms of depression. Overall, there is a clear need for understanding the complex between social media and adolescent mental health.
Negative Effects of Social Media on Adolescents' Mental Health
67% of adolescents confess that they feel worse about their own lives using social media. Navigating social media can be difficult, while 67% feel less self-respect when they compare their lives to the filtered “reality” they face. Additionally, 73% feel comfortable and inspired using these platforms during difficult times. The multifaceted impact of social media on young people’s lives is reflected in this delicate balance.
Social Media Risks for Mental Health
Those teens who spend over three hours daily on social media face an increased risk of mental health struggles. Social media is a dangerous outlet for mental health challenges for many teens. Surveys show that teens spending more than three hours daily on social media are more internalized, suggesting that excessive use of social media can affect mental health in teens.
What's the solution? Balancing time limits on social media use and elevating media literacy.
Social Media Trends for 2024
Instagram is the fastest-growing social media network by 2024. Still, it is the top social media platform worldwide, with 74.70% of internet users registered. About 516.92 million active users; most of them are young people, especially teenagers.
Growth of Social Media Commerce
A survey has predicted that social commerce will supervise a compounded annual growth rate of 55-60% between FY 2020-2025. It will expand the market size to $16-20 billion from $1.5-2 billion.
In 2023, the social media advertising market is expected to reach $1.28 billion. Then the estimated annual growth rate (CAGR 2023-2027) will be 3.76%, culminating in 2027 in terms of market volume estimated at US $1.49 billion.
Estimated Social Media Statistics 2024
By 2024, it is expected to be 5.17 billion social media users worldwide. The average person uses about 6 or 7 different social media networks per month. By 2028, mobile advertising could reach $255.8 billion, and companies plan to spend about $219.8 billion on social media ads by 2024.
Video content is very popular, with 44% of people preferring to learn about new topics by watching short videos, and 87% of marketers confess that using short videos has helped them increase sales.
Conclusion
Of course, social media is a non-avoidable part of our everyday lives. It represents a digital landscape that is impacting the marketing industry so much. Platforms like Instagram, Facebook, TikTok, and YouTube are preferable where brands can truly engage, interact, and treat their audience successfully. Embrace the changing nature of social media by using our social media statistics and trends of 2024 as a guide and monitor your brand story being popular in engaging ways.