Market research numbers: Social Networking applications to grow 120%

IDC did a report on the market for Social Networking and white label business community software.

The social networking application market
is experiencing significant growth and change this year — setting the
tone for the next three years, according to a market forecast and
analysis by IDC. The social networking application market will grow
from $46.8 million in 2006 to $428.3 million in 2009.
Along the way,
three social networking market segments
will emerge. Social networking
functionality will be built into core communications platforms, and
used for many purposes other than consumer socializing.”