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TikTok expected to become third largest social media platform

Insider Intelligence said it expects TikTok to reach 755m monthly users in 2022, becoming the world's third largest social media platform behind Facebook (2.1bn) and Instagram (1.3bn), after 40.8% growth in 2021.

TikTok expected to become third largest social media platform

TikTok has seen a massive surge of popularity in the last few years with app intelligence firm Sensor Tower reporting that TikTok’s app had seen over 2 billion downloads across the App Store and Google Play in the first quarter of 2020. Another report from App Annie found that TikTok had grown 325% in 2020 and the monthly time spent on the app by users had grown faster than any other app.

Because of its growth, TikTok’s share of overall social networking users is also surging upwards. Insider Intelligence predicts that TikTok will surpass a 20% share and approach a one-quarter share by 2024.

“The rise of TikTok is especially challenging for Snapchat, with which it competes head-to-head for the youth audience,” said Insider Intelligence principal analyst Debra Aho Williamson. “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,” she added.

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