A recent forecast has ranked TikTok as the third largest social network behind Instagram and Facebook. TikTok’s global install base was the primary concern of the inaugural estimates, which predicted that an increase in users of TikTok in 2022 would reach 755 million. The assumption was made based on the 59.8% growth in 2020 and 40.8% growth in 2021 of the favourite social app.
At the same time, global spending surpassed $2.5 billion for TikTok consumers. The app's current spending factors made it reach the success milestone as Tinder, Youtube, Netflix, and Tencent Video.
Various firms made distinctive predictions for monthly active users of TikTok. The forecast suggests that in 2021, the active user number will reach 1 billion. At the same time, some studies indicate the app will grow at a slower rate in 2022, with only 15% growth.
For this reason, the overall social networking users share for TikTok is found to increase over time. Moreover, it is predicted that the 20% share will be surpassed for the first time by TikTok by a one-quarter share in 2024.
Why is TikTok preferable over other social media platforms?
The full-screen feed is what makes TikTok preferable over other platforms. This suggests that each action made by users in their on-screen video is indicative of the response to a specified clip. The video content that is not of the user’s interest can be easily swiped past. The fully watched video strongly signals the algorithm about the user’s preference and provides matching response data.
However, Instagram’s algorithm is not as good for detecting users’ interest even when it has various on-screen posts and specific reels options. This is due to the overly sensitive nature of reels, which are only based on trending content and show only a limited content category instead of a broader context.
TikTok’s system matches the response to the user’s actions and determines better matches and choices for the users. This is why current users are addicted to it, and new users constantly join the platform even when other apps offer similar features.
Why TikTok is a potential marketing platform?
It would be best if you put some thought into considering TikTok as a potential social media platform for marketing efforts in 2022. However, not every brand is suitable to market its services on TikTok, and the organic approach on this platform does require constant effort. Therefore, we suggest you remain aware of the current trends and connect with creators linked with such trends. But if your brand uses the right marketing approach on TikTok, this app is quite helpful as per the 2022 growth predictions and results.
So based on the current and future forecasting of the famous platform, individuals and businesses need to understand the app better.
