As an emerging industry kickstarted by the successful launches of Renren (formerly Xiaonei) and Kaixin, social networking in China has seen significant expansion over the past five years. Revenue for the industry has been increasing at an annualized rate of 34.3% over the period, and is estimated to reach $3.5 billion in 2015.
The Statistics Report on Internet Development in China, released by the China Internet Network Information Center, states that domestic social network users reached 298.5 million in 2013 and accounted for 48.3% of overall internet users over the year.
The Social Networking industry in China is rooted in two aspects: social intercourse and the internet. Enterprises within the industry create online communities with groups of people who share similar interests. Registered users are provided with various methods of communicating with each other.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.