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According to a new market research report, “Social TV Market: Global Advancements Forecasts & Analysis (2012 – 2017)” the total Social TV market is expected to reach $256.44 billion by 2017 with a CAGR of 11.2%.
To make television a more active and interactive experience, Social Television came into existence. Television viewers are currently looking for something interesting to watch and get opinions from their friends and family. The social layer on television makes television interactive. Internet and social networking acts as a medium for the convergence of the social layer with television and to enable viewers to communicate electronically with their friends watching the same program.
Television viewers are able to personalize the television experience by analyzing the various statistics provided by Social TV. Viewers are provided with a wide variety of choices from content discovery applications, check-in applications, and social programming application. Many social television tools and applications have given a customized television experience based on the viewer’s choice of interest. Many companies have developed second screen applications to engage more viewers and to increase the targeted audience.
The future for the television is social through integration of social interaction on the television. Broadcasters are developing and enriching social TV integration; they are targeting the tune-in customer, engagement and their loyalty to boost the rating and they are also discovering the social TV challenges.
The global Social TV market revenue is expected to grow from $151.14 billion in 2012 to $256.44 billion by 2017, at an estimated CAGR of 11.2% from 2012 to 2017.
Europe commanded the largest share of the Social TV market revenue in 2012 at $55.48 billion; and is expected to reach $77.74 billion by 2017, at a CAGR of 7.0% from 2012 to 2017.
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the Social TV market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The report draws the competitive landscape of the Social TV market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
Social TV Market is set to take the television industry by storm as television manufacturers are betting big money in this technology. There exists a diversity of players in the Social TV ecosystem, as the industry is open to experiments and is witnessing many a tie-ups between broadcasters and social networking companies. While some broadcasters are amalgamating Social TV within their own platforms; there are many, who are integrating Twitter into their Social TV platforms for enhanced custom experience and participation. Industry players such as BBC and CNN, on the other hand have signed deals with social networking players such as Facebook, as social networking companies are aggressively trying to venture into this space.
Social is truly emerging as a coalition of television and social media, wherein newer formats are being developed to enhance viewer engagement and encourage paid transactions. Many media and tech companies such as Hearst, Time Warner, BSkyB, and Google are backing several Social TV startups, with huge investments. This report provides insights on the social TV market, key market players, future scope, drivers, restraints and challenges of the market. The report also analyzes global adoption trends and future growth potential across different geographies.
This study estimates the global market of Social TV by the end of 2017. This market research study provides detailed qualitative and quantitative analysis of the global Social TV market. The report provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the enterprise mobility market. The market is further segmented and forecasted for major geographic regions, North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America. The competitive scenario and market share of the top players in the Social TV market is discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities.