Social television supports social communication and interaction, keeping television content as a medium. It also helps the analysis of the TV related social behavior, networks and devices. Involvement of voice chat, text, context awareness, and presence awareness has given added advantage to this powerful medium. As a result of all these factors, the global Social TV Market is showing stronger trends of growth across various parts of the world. According to the expert researchers, social television is poised to take the global television sector by storm, thanks to hefty investments from key players and shareholders in the industry.
Services offered by the Social TV Market are truly emerging as the perfect amalgamation of social media and television technology. Growth in demand for both these mediums separately, is driving the united forces like social television. Large media houses and television manufacturers are now interested in investing large money in this market, hoping for major boost in their revenue and presence on global platform. In order to estimate the current state of the industry, researchers use various methods of market research, which also include segmentation. Analysis of all the segments of the industry gives thorough knowledge about the growth factors, challenges, and future opportunities for the existing as well as potential customers and investors.
The global social TV market is categorized based on the types of hardware, technology and platform, end user technologies, stakeholders, and geographic regions. Following are the details of the sub-segments in this industry:
- Platform: Ad production, social EPG, content discovery, content matching, content detection, ad service platforms, social curation and syndication, meta data supplier, sharing technology, general social analytics, and social TV analytics
- End User: Social discussion, social gaming, interaction, check-ins, rewards, remote control application, TV specific social network, and so on
- Stakeholders: Smart TV manufacturers, social networking companies, ad agencies, content developers, middleware developers, data analytics companies, and second screen app providers
- Geography: Europe, North America, Asia Pacific, Latin America, and Middle East and Africa
According to the analysis of all the aforementioned segments and the current trends, drivers, growth factors, challenges, key players and trends in geographic demands the Social Television Market is set to make healthy growth. As per the recent reports, the social TV market is poised to grow at an anticipated CAGR of over 11% to reach $256.44 billion by the end of the year 2017. In 2012, the industry recorded an estimated growth of $151.14 billion. During the same span, Europe witnessed maximum growth in terms of market shares and adoption. The hardware and smart TV segment is expected to maintain healthy growth rate during the forecasting period of the next four to five years.