Global social network surpassed 2 billion users for the first time in 2014, said Strategy Analytics in its latest research report.
According to the report, global spend on social media advertising rose 41 percent in 2014 to $15.3 billion and 11 percent of global digital ad spent went to social networks.
Facebook extracted approximately 75 percent of global social network ad spend, while Twitter accounted for just 8 percent.
The report, Global Social Network Forecast, says 46 percent of social network users reside in the Asia Pacific region and China have almost 25 percent of global social network users with 495 million users in 2014.
The US is the largest market for the social network ad spend in the world with 41 percent followed by the UK with 8.2 percent of global social network ad spend in 2014.
China came the third with 8 percent despite having the largest number of social network users.
The US had the highest social network ad spend per social network user at $31.37 in 2014 and this is expected to grow 27 percent to $39.84 in 2015.
The report says that ad spend on social networks will grow by 29 percent to $24.2 billion by 2015.
“The social network market continues to show strong growth across all regions as the major social network platforms drive usage and engagement via improved integration of digital media content,” said Leika Kawasaki, author of the report.