Surging internet penetration globally and growing demand for digital activities such as social media, online shopping, video and audio streaming, and online learning have created several growth opportunities for internet service providers. According to Statista, among the largest online markets in the world, the United States ranks third with over 311 million internet users nationwide.
The social media market is expected to reach $413.16 billion by 2028, growing at a CAGR of 13.2% during the forecast period (2024-2028). The market growth can be attributed to e-commerce integration, influencer marketing, the proliferation of mobile devices, and the adoption of advanced technologies like augmented reality (AR) and virtual reality (VR).
