For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

Key stat: With 13.4% YoY user growth in 2023, Snapchat will briefly overtake TikTok (12.7%) as the fastest-growing social media platform worldwide, according to our forecast. TikTok will regain the title come 2024.

Beyond the chart:

• Almost half (48.3%) of the world and 81.7% of all internet users are already on social media, according to our forecast. Growth has slowed significantly and is highest in the Middle East, Africa, and Asia-Pacific.
• Snapchat is growing in India, with an expected 183.6 million users this year, largely as a result of the country’s TikTok ban.
• This year, over a fifth (21.7%) of the world’s population will be users of TikTok or its Chinese counterpart, Douyin. However, a potential ban could hurt future US growth.

Use this chart:

• Effectively distribute budgets for social media ad campaigns.
• Evaluate ad strategy in the event of a US TikTok ban.

More like this:

• Global Social Media Update 2023 (Insider Intelligence subscription required)
• What's next for Threads after its initial surge in sign-ups?
• How Abercrombie & Fitch and e.l.f. Beauty stay relevant when marketing to Gen Z
• The beauty industry booms because its customers are headstrong, loyal, and social

More Chart of the Day:

• 7/19 - Social B2Butterfly
• 7/18 - Top 10 countries on Threads
• 7/17 - $600 billion ad question
• 7/14 - AI and market analysis
• 7/13 - Don’t fear the AI