TikTok becomes the world's third largest social network

According to foreign media Insider Intelligence's forecast of the number of TikTok's global installed users , TikTok will have 755 million monthly users in 2022. The number of platform users increased by 59.8% in 2020 and 40.8 % in 2021 .

By comparison, Facebook has 2.91 billion monthly active users , growing at a 6% annual rate , while Instagram employees recently revealed that it has surpassed 2 billion monthly users, up from the 1 billion monthly users it reported in June 2018 .

Insider Intelligence uses a different measurement method than usual for its 2022 forecasts , as the company has its own definition of monthly active users . For example, it only counts users who log in at least once a month in a calendar year and tries to remove fake accounts from its estimates to provide customers with a more consistent comparison across all platforms .

According to the firm's estimates , Facebook will reach 2.1 billion monthly users in 2022 , followed by Instagram with 1.28 billion users. TikTok will be close behind with 755 million monthly users, ahead of Snap and Twitter.

TikTok has grown rapidly over the past few years .

According to app data statistics agency Sensor Tower, TikTok was downloaded more than 2 billion times on the App Store and Google Play in the first quarter of 2020 .

App Annie's report also found that TikTok's users grew 325% in 2020, and the average monthly time spent per user grew faster than any other app .

In July of this year , Sensor Tower pointed out that TikTok (including its sister app Douyin) has become the first non- Facebook mobile application (excluding games) to reach 3 billion downloads worldwide on the App Store and Google Play .

TikTok 's global consumer spending has exceeded $2.5 billion , putting the app among a handful of companies that have reached that milestone, including Tinder , Netflix, YouTube and Tencent Video .

Other agencies have predicted that TikTok 's monthly active users will exceed 1 billion in 2021, so Insider Intelligence's forecast is obviously more conservative . But it does expect the app to continue to grow, at a slower rate of 15.1% after 2022.

As TikTok grows , its share of overall social network users is also climbing. According to Insider Intelligence, TikTok's market share will exceed 20% for the first time and will account for nearly a quarter of the market by 2024 .

In this regard, Insider Intelligence analyst Debra Aho Williamson said that the rise of TikTok is particularly challenging for Snapchat, as it is competing with Snapchat for young users, and its huge number of users directly reflects the popularity of TikTok's content .

Insider Intelligence also pointed out that TikTok still has a lot of room for development in the future , and next year 3.57 billion people will use the social networking application at least once a month.

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