Facebook has emerged as the largest social networking site. The site serves about 500 million users around the world and has performed much better than any other social networking site that allows sharing of videos. It has beaten even well known sites such as YouTube and Flickr and a month goes with more than three billion photo uploads.
On May this year, 18.7 million users of Facebook were recorded as compared to 15.5 million that visited YouTube. Facebook has entered in the Indian market to replace the previously preferred Orkut. Through facebook, people can share photos and videos in addition to uploading them on their profiles. In fact, about 18 million users are recorded in India every month. This indicates how it is preferred by people to show off photos as well as to network.
ComScore has indicated that Facebook has achieved a growth rate of three times that of specialty photo websites. Microsoft Corporation has invested in Facebook. There is high potential regarding the future of the sites that allow sharing of photos through the Internet. It has been predicted that by 2013, an excess of 124 billion photos will be shared through these sites, indicating that the field is yet to grow to very critical levels.
The arena is competitive, forcing social networking sites to think of strategies to increase their social capabilities. It is possible that such trends as sharing of photos and albums across networking sites (for example as supported by the networking site, Picasa) may expand among the other companies.
For other networking sites such as Google, you are able to share links to single unlisted photos and limit access to the whole album, in order to allow for privacy. This will cater for those customers who do not want to share all their items so publicly yet want to use the service for other purposes. This reveals that the idea of allowing an wholesome sharing of photos is not a complete deal: companies will need to be more innovative to exploit this field to allow more customization that puts into consideration diverse customer needs.
The triumph for Facebook does not mean that the other players do not have special features that you take into consideration other needs. Some may be regarded as more secure than Facebook for sharing things like photos. The idea of privacy and copyright issues may be observed when it comes to the competence of a social networking site.
Social networking sites are competing with each one having features or strategies that allow them to exclusively serve their customers. Facebook has triumphed in terms of getting more customers to use the site, but this does not mean that others are not influential in their areas of business.
The market in the social networking field is set to increase in the next few years with projections that many more people will be sharing photos and videos over the social networking sites. It is the place to watch regarding how the market share changes among the many competitors.