Combined market will grow ten-fold to $2.4 billion in 2015, according to Frost & Sullivan
The market for mobile social networks in Latin America and Africa is set to increase ten-fold to 527 million users and $2.4 billion in revenue by 2015, according to research from Frost & Sullivan and Colibria.
The bullish forecast is based on the fact that mobile connections exceed fixed line connections ten to one in Africa, while in Latin America 80 per cent of the population have a mobile phone compared to just 25 per cent with regular fixed internet access.
Jon Stephansen a Senior Consultant with Frost & Sullivan said: "Social networks are an emerging trend in these regions, and due to the lack of fixed infrastructure, the mobile phone is often the only point of access for internet-based services such as social networks. The availability of affordable mobile data service packages is necessary to drive the growing social networking market to the mobile space."
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