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Social Media

Industry Outlook

The outlook for the social media industry is excellent. New technologies are making Internet connections faster and easier, and users are increasingly connecting to the Internet and social media via their smartphones and other digital devices. Interest in social media is expected to increase because social media usage is transitioning from desktop PCs and laptops to mobile devices. Seventy-nine percent of time spent on social media in December 2015 was done via a mobile device, according to Cross-Platform Future in Focus U.S.: 2016, from ComScore. Nearly 80 percent of people in the United States now have smartphones, according to ComScore, with both 18–24 and 25–34-year-olds solidly above 90 percent ownership. The increase in mobile devices has opened new markets for social media companies, since more people in developing countries own smartphones than computers. The Pew Research Center predicts that by 2020 mobile devices will become the primary Internet connection tool for most of the world’s population.

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