PR WEB - Apr 10 - The Social Networking industry is dominated by Facebook, LinkedIn and Twitter. Those major players also face competition from newly funded startups and new products from existing internet leaders (e.g. Google and Microsoft). For these reasons, industry research firm IBISWorld has added a report on the Social Networking Sites industry to its industry report collection. According to the report, the social networking revenue is expected to grow at a 35.8% annualized five-year rate to $4.8 billion in 2012.