The number of active TikTok users around the world is growing exponentially, even though it has been banned in India, previously one of the most rapidly growing markets. Thus, according to data from AppAnnie research, the app is significantly outpacing its competitors.
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According to analysts, TikTok will have more than 1.5 billion monthly active users in 2021. TikTok can achieve this result in just 34 quarters. In comparison, it took WhatsApp 41 quarters from its launch.
Experts predict that TikTok will break two more records in 2022, with global downloads of the app exceeding 3 billion. Users will spend $9 billion on the social network on iOS and Google Play, driven by in-app purchases.
TikTok’s global growth could gain time away from streaming video providers and attract significant advertising resources through its wide reach and deep user engagement.
Overall, the entertainment app market is expected to grow to $12 billion by 2022. Subscriptions will double that growth from 2020. Moreover, the market for social apps on mobile devices is projected to grow to $9 billion in 2022 (82% more than in 2020). In doing so, TikTok, Twitch and BIGO LIVE will rank in the top 3 in terms of global consumer spending.
Let us remind you that other researchers – platform Disqo – previously found that older and wealthy people spend as much time on TikTok as younger and less affluent people. 53% of those surveyed with incomes of $150,000 or more visit the platform daily. Almost one in three respondents (29%) believe that there are interesting projects in TikTok.