TikTok’s Rapid U.S. Growth Expected to Slow

TikTok’s rapid growth curve in the U.S. appears to be coming to an end, states Digital News Daily, which added that according to eMarketer, the app’s U.S. user growth is expected to drop from 97.5% in 2019 to 21.6% this year. “Continuing to fade, TikTok’s U.S. growth will then fall to 15.2% in 2021, 6.9% in 2022, 4.5% in 2023, and 3.4% in 2024.

“The Chinese-owned app now controls about 20% of the U.S. social media marketplace, which should increase only marginally through 2024. By then, eMarketer predicts that TikTok will command a 26.7% share of the market.

“On a monthly basis, TikTok now has about 45 million U.S. users, which is up from approximately 37 million in 2019, and about 19 million in 2018.

“What factors curbed what had been the app’s gargantuan U.S. growth? For one, rivals are quickly adapting to TikTok’s presence in the market, and starting to offer similar video sharing features.”