Despite troubles with governments, strong growth forecasted for TikTok
The EU Commission, Western governments and companies instruct staff to delete the TikTok app from their business phones but the Chinese-owned social media continues to have strong growth prospects in its home region – Asia-Pacific, marketing research firm Insider Intelligence forecasts.
The background is concern expressed by security people that the Chinese-owned TikTok could collect sensitive data that could be passed on the Chinese authorities. FBI director Christopher Wray recently said that TikTok’s peivacy and data collection policies could allow for the capture of sensitive personally identifiable information and that data could be accessed by the Chinese government.
“In Asia-Pacific, TikTok will be the fastest-growing social platform this year. Its user increase in 2023 will be nearly double that of its much bigger US rival Instagram (13.6% versus 7.3%)” the forecast says..
“Though it’s banned in India, TikTok will have much of its growth in Asia-Pacific driven by Southeast Asia. Indonesia, Malaysia, Singapore, the Philippines, Thailand, and Vietnam together will account for about half of TikTok users in Asia-Pacific, excluding China.”
“And all of those countries except Singapore will see their TikTok user base rise more than 10% this year.”
Insider Intelligence says TikTok’s Asia-Pacific growth will be watched by marketers because that region will account for 67% of the increase in social users globally this year.
“Facebook has a larger user following in Asia-Pacific relative to other social networks, but it will face user declines in several countries as the region’s new social media participants are joining Instagram and Snapchat.”
“Twitter will see declines in user growth in all countries in Asia-Pacific except Japan as new users steer clear of the platform following its purchase by Elon Musk.”
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