Top 10 Social Media App Development Trends in 2024!

The world spends more than 12 billion hours on social media daily. Yes, you read right. This number equates to 1.35 million years of human existence.?

Do you know there are more than 5 billion social media users worldwide? Interestingly, over 62% of people use social networking sites. This shows how massive the market is.?

According to Statista, the social media market is projected to grow at an annual growth rate of 7.30% between 2024 and 2027. The compound annual growth rate makes the market volume $190 billion in 2027.?

Undoubtedly, social media is a profitable market, but it is daunting to succeed since only 1 out of 10 become successful. Factors like social media marketing, operation, team, tech problems, and choosing the wrong app development company are the reasons for failure.?

Choosing the right social media app development company is an essential step that will determine the future of your business.?

Before examining the trends, let’s get started with the types of social media platforms.?

Different Types of Social Media Platforms

Before deciding which type of social media platform fits your business, it is essential to learn about the types. The types are as follows:?

• ?Social Media Applications?

Apps like Meta and LinkedIn are the biggest examples of social media applications. Meta’s motive is to connect people worldwide through chat, video chat, etc. On the other hand, LinkedIn is a popular networking app. Also a job portal among professionals that connects them through chat, articles, etc.?

• Media Sharing Applications?

Media sharing applications allow users to create and store content. It is primarily used for sharing content such as videos, photos, etc. Instagram, YouTube, and Snapchat are some key examples of media-sharing applications.

• Content Sharing Websites?

On these websites or applications, users can discover, save, organize, and share the contents (website, image, video, etc.). Pinterest and Flipboard are some examples of content-sharing websites, also known as bookmarking apps.?

• Discussion Websites?

These websites allow users to comment, ask questions, and share their opinions and valuable information. Quora (300 million monthly active users) and Reddit (65 million monthly active users) are some of the biggest discussion websites in the world.?

10 Social Media App Development Trends??

The latest trends that need to be examined before developing social media applications are as follows:?

1. eCommerce Integration?

eCommerce integration in social media app development allows users to buy products from the platform itself. Brands use social networking sites for their product marketing, which increases the revenue of the platform.?

2. Artificial Intelligence & Machine Learning?

AI-powered functionality in social media platforms is useful for enhancing technical support, chatbots, and facial recognition. Artificial intelligence with machine learning improves the user experience, security, and customer relationship management. Social media platforms like Instagram, Meta, Linkedin, X, etc all use AI to engage the users.?

3. Augmented Reality and Virtual Reality?

AR/VR in social media applications gives a fascinating user experience. Eventually, it boosts customer engagement and generates more revenue. Applications like Instagram and Snapchat are the biggest examples of augmented reality. Some popular apps that use virtual reality are VRChat, Mozilla Hubs, Rec Room, etc. Creative avenues, virtual environments, and 3D content are now common on social media platforms to enhance the user experience.?

4. Video Content?

Indeed, video content has been one of the biggest trends for a couple of years. The reason behind this is, of course, user engagement and short-form videos. YouTube shorts and Instagram reels are the biggest examples of video content.?

5. Privacy and Transparency?

Handling and securing the data and users' privacy generates trust among users on social media platforms. Protected social media and transparency always attract customers and make them permanent users.?

6. Live Streaming?

22% of global users like real-time interaction; eventually, they watch live content on social networking sites. So almost 1 billion people like watching live streams, which makes this one of the biggest trends in 2024.?

7. Social Audio?

Audio communication in social networking sites is gaining popularity. Social media platforms such as; Discord, Clubhouse, Twitter spaces, etc are some examples that focus on audio communication.?

8. P2P Payment?

The peer-to-peer (P2P) payment option allows a safe and smooth transaction between businesses and consumers. Social media platforms can be used as eCommerce platforms to send or receive money.

9. Internet of Things?

Internet of Things in social media applications leads to user experience with the help of real-time data integration and engagement. The IoT offers a convenient method to access, analyze, and monitor the platform. Integration of IoT in social media platforms offers several advantages including; enhancing service, database informative decisions, and strategies.?

10. Creators Economy?

Undoubtedly, the creators' economy is growing every day because of the popularity of short videos. Understand with an example: Instagram launched an initiative known as “Born on Instagram.” This helps new creators monetize their content and earn money from the platform.?

Social Media App Development Cost?

The cost depends on various factors such as features and functionality, project complexity, technology stack, UI/UX design, etc. Integrating any advanced feature is expensive; eventually, it is a must to discover which features need to be added or which are not. Applications with basic or core features cost you between $25,000 and $60,000. On the other hand, integrating any advanced features, including AI, ML, AR, VR, etc., can cost you between $70,000 and $200,000.?

Wrapping Up?

Social media platforms attract users if they effectively implement the latest trends. Utilizing advanced technology, essential features, captivating design, and user-friendly interfaces empowers applications to captivate customers and drive engagement effectively. Social media app development trends add value to your social media app and help you reach a wider audience.?

Developing a custom social media platform is a big commitment for both entrepreneurs and app development companies. So examining before choosing the best app development company is a must. So follow the top trends before investing in social media app building.?