By the end of 2017, an estimated 594 million people will be using Instagram, according to a new forecast by research firm eMarketer.
Instagram is predicted to reach 928 million users by 2021.
Whilst the Facebook subsidiary and popular photo app already claims 800 million users, eMarketer’s report accounts for duplicate accounts, business profiles as well as fake profiles.
Instagram’s largest market is the US where an estimated 86 million people will use the app in 2017 on a regular basis.
Cindy Liu, forecasting analyst at eMarketer, explains:
“Instagram’s exponential growth in popularity over the past two years is a direct result of new product updates and features including Instagram Stories, live video, geostickers and face filters that have kept its user base active and engaged.”
Whilst competitor Snapchat has turned to focus on more mature markets with existing WiFi connections and higher smartphone penetration, Instagram has been expanding its engaged user base among younger and mobile-first audiences in emerging markets.
“We see no signs of this slowing down in the near future, and the company’s strategic push toward international markets—in particular Southeast Asia—will continue to fuel growth in the years to come,” adds Liu.
In line with this growth, Instagram advertising revenues are expected to reach $10.9 billion by 2019, up from $4.1 billion in 2017.