Since its launch in 2010, Instagram has been growing steadily as a social media platform. Even 10 years down the road in 2020, it was among the top five most downloaded applications globally, scoring over 500 million downloads in the year.
As of the beginning of 2021, Instagram has a total of 1.15 billion active users and is the fourth most-used mobile application. On average, its users spend an average of 30 minutes on the application per day.
Despite already being amongst the top 10 in the world’s most-used social platforms, Instagram’s growth is expected to continue. This presents as a good opportunity for businesses who engage in social media marketing, as it is a platform with a substantial existing userbase and promising further growth in numbers.
In fact, many businesses have been tapping on Instagram as a digital marketing platform, with Instagram reporting over 25 million businesses as of 2017. Furthermore, about 90% of Instagram users follow at least one business, and more than 83% of Instagram users have discovered a new product or service on the platform.