Clubhouse has thrived by finding a gap in the technology market.

Kanye West

Kanye West

That is the suggestion of Joseph Evans from Enders Analysis, who explained that even though the app is "invite only" and limited to Apple's iOS, it appears to have found a very valuable niche in the market.

Speaking about the increasingly-popular app - which has been used by the likes of Elon Musk, Oprah Winfrey and Kanye West - he said: "It's at the intersection of several hot trends - audio, live and social.

"And it's recreating some of the things we can't do normally because of the coronavirus pandemic restrictions, such as attending a talk or having a group conversation."

Despite its popularity, the app currently doesn't make a profit.

And whereas previously the likes of Facebook and Twitter may have bid for the business, that isn't the case at the moment.

Speaking about the current situation with Clubhouse, he explained: "A few years ago Facebook would probably have already put an offer on the table [for Clubhouse].

"But it's not in the market for another social network because of the competition scrutiny that it's under, so Facebook's only option is to compete with it."

In fact, Facebook - which owns Instagram - recently launched a web-based app of its own called Hotline, which is expected to compete with Clubhouse.