The tie-up of social media and television is proving fruitful for a number of reasons. A social TV supports all such applications that connect social interaction and entertainment around television. Increasing television related social behavior and growing popularity of both these mediums is creating great potential for the social TV market in terms of growth and global expanse. Rising adoption and continually evolving technology are expected to play a huge role in the rising demand for these televisions. Influx of investments and key players is also contributing to the changing industry scenario.
Scope of Research – Segmentation
The global social TV market can be analyzed on the basis of the elements including hardware, end-user technologies, platforms, stakeholders, and geographic distribution of these products. The technologies and platforms segment includes the analysis of ad promotion, social TV analytics, ad production and ad serving platforms, meta data supplier, content detection, matching, social media curation, sharing technology, social content discovery, social EPG, and so an. The end-user technologies include social check-ins, rewards, interactions, gaming, TV specific social network and remote control application.
Study of the detailed segmentation of the social TV market is vital in order to understand the current trends, future prospects, growth aspects, and geographic trends in the industry. Major stakeholders in the industry include smart TV manufacturers, social networking companies, ad agencies and content developers, data analytics companies, and middleware and second screen apps providers. Growing applications of this collaboration of social media and television entertainment are contributing to growth in adoption of social TVs.
Rising applications of social televisions across various ecosystems, rapid rate of adoption across developed as well as developing countries and technological advancements in the industry are driving the social TV market. Increasing user adoption of second screens, growth in advertising platforms, growth in the number of social media users and audience are some of the major industry drivers. However, uncertainty of the audience problems in content validation and authentication are the crucial restraints for the market.
During the next few years, the global social TV market is expected to grow at a CAGR of over 11%, at the expected compound annual growth rate (CAGR), the market is poised to become worth $256.44 billion by the end of the year 2017. During the next two to three years, Europe is estimated to dominate the global market. The ability to avail personalized television experience and wide variety of choices are expected to drive more customers towards this market. Growing funding, attractive investments and efforts to become a part of a growing ecosystem are some of the major factors, expected to create business opportunities for the companies.