Snapchat
META
Snapchat
SNAP
Instagram (META) vs Snapchat (SNAP) apps
Instagram and Snapchat compete closely, with similar product utility to follow friends' photos and videos. As the competition for attention and advertisers went on, Instagram adopted more product features that imitate Snapchat, such as the ephermeral user "stories" that disappear after 24 hours and therefore drive continual engagement.
Instagram vs Snapchat: cross-app usage

Percent of Instagram users using Snapchat
Percent of Snapchat users using Instagram
Percent of Instagram users that use Snapchat
Percent of Snapchat users that use Instagram
Instagram vs Snapchat app relative size analysis (Monthly users, US)

Snapchat
Notes
Instagram was 2.5x the size of Snapchat in the most recent month, compared to 2.6x its size a year ago.
Additional app insights
Competitive intensity among top Social Media apps
Explore Social Media market dynamics and user engagement levels of top apps in the category.