TikTok is the third largest social network, will it become the world's No.1?

Chatterbox Moo wrote a column · Dec 24, 2021 12:43

TikTok is one of the top social networking apps, and it continues to gain share after surpassing $Snap Inc (SNAP.US)$ and $Twitter (Delisted) (TWTR.US)$.

The social networking app surpassed those competitors in 2020 and grew even larger in 2021, cementing itself as the No. 3 worldwide social platform behind $Meta Platforms (FB.US)$'s Facebook and Instagram, according to the inaugural forecast on TikTok users worldwide by Insider Intelligence.

TikTok is the third largest social network, will it become the world's No.1?

As predicted by Insider Intelligence, there will be 755.0 million monthly TikTok users in 2022. This number grew 59.8% in 2020 and will increase an additional 40.8% in 2021. While that growth will slow, it will remain high at 15.1% in 2022.

TikTok is also gaining share of overall social network users. In 2022, its share will surpass 20% for the first time and approach one-quarter by 2024.

The rise of TikTok is especially challenging for Snapchat, with which it competes head-to-head for the youth audience. Although TikTok does not share much similarity to Twitter, its massive size relative to the more–established platform is a clear reflection of the addictive nature of TikTok's content.”
--- said Debra Aho Williamson, Insider Intelligence principal analyst.

Are you a TikTok user? Do you think TikTok will grow to the wrold's No.1?

Source: Insider Intelligence

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