It has been a while that TikTok has surpassed Snapchat and Twitter in global user numbers.
The short video platform app outgrown both Snapchat and Twitter in 2020 and grew even larger in 2021, placing itself comfortably as the 3rd largest social platform behind Facebook and Instagram.
Insider Intelligence, formerly known as eMarketer, forecasted that TikTok will reach 755 million monthly users in 2022.
This is after seeing a 59.8% growth in 2020, which will be followed by a 40.8% growth in 2021.
TikTok Putting Pressure On its Competitors
Snapchat has been facing stiff competition from the rise of TikTok, which Snapchat competes for "the youth audience", mentioned Debra Aho Williamson, Insider Intelligence principal analyst.
“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,” Debra Aho Williamson added.
Forecast Uses Slightly Different Calculations
Insider Intelligence’s calculation of the forecast is based on an analysis of quantitative and qualitative data from research firms, government agencies, media firms, and public companies, as well as from interviews with top executives at publishers, ad buyers, and agencies.
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The analyzed data is weighted based on methodology and soundness with the same assumptions and general framework used to project figures in a variety of areas.
Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends, and economic changes to provide a more accurate prediction.
More Room of Growth for TikTok
With 3.57 billion people using a social network at least once a month by 2022, TikTok definitely has room for improvement in terms of market share.
