Expanding Internet User Base and Popularity of Social Media Drive the Global Social TV Market, According to New Report …
San Jose, California (PRWEB) August 29, 2013
Follow us on LinkedIn Social TV offers viewers an opportunity to engage in real-time discussions, content discovery, sharing, and participation in television shows via social media networks through the use of smart TVs and second screens. Evolution of the TV into a new social platform marks the convergence of television and social media networking. Availability of personalized social TV apps for PC and mobile computing devices represents one of the main factors enabling social TV to make rapid inroads into consumer lives across the globe. Proliferation of second screen devices such as iPad, iPhone, ultrabooks, laptop PC and Android devices, which enable users to access Internet while watching TV, is further translating into strong growth for the social TV market.
The integration of video value chain with social networking channels, personalization of electronic devices, and the popularity of P2P networking among various STBs are impacting user viewing experience, thereby driving growth in the market. Growing number of interactive TV subscribers, rising popularity of social media networks, increasing amount of time spent on watching television, especially among women, and developments in Internet communication technologies are also driving market growth. The gamification concept to engage viewers in interactive non-game TV content through the use of game mechanics is driving adoption of Social TV.
Mobile Social TV, the convergence of Internet and mobile platforms, is emerging as a major trend. Technological advancements pertaining to handheld devices such as mobile phones and tablets, robust growth in mobile subscriber base and proliferation of smartphones which provide viewers the option of watching TV anywhere, anytime represent key growth drivers for the mobile social TV market.
Future growth in the social TV market will be driven by service diversity, exclusive content, and the ability to provide a compelling social experience by allowing users to chat on their TVs and share TV information with friends by directly connecting to social network accounts. Chat and Tweet apps in this regard are poised to witness robust growth. Partnerships between television broadcasters, advertising companies, and social networks to provide converged user experience will play an important role in shaping the development of the social TV platform.
As stated by the new market research report on Social TV, Europe represents the largest regional market worldwide, followed by the United States. Asia-Pacific represents the fastest growing market with a CAGR of 12.9% over the analysis period. Growth in the region is driven by increased level of Internet access and TV consumption, high broadband penetration, rapid urbanization, expanding social media presence, and emergence of TVs integrated with Internet, widgets, and applications.
Key players covered in the report include Bluefin Labs, Cablevision Systems Corporation, ClipSync Inc., ConnecTV, Facebook Inc., GetGlue, GoMiso Inc., IntoNow, Miso TV, Netflix, Inc., Networked Insights, Never.no, SecondSync Ltd., SnappyTV, SocialGuide Inc., Starling, Inc., Trendrr, Tunerfish, TVplus, Twitter, Viggle Inc., VLOOP LLC, and Zeebox, among others.
The research report titled Social TV: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities. The report provides market estimates and projections for Social TV in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), and Rest of World.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Social_TV_Market_Report.asp
About Global Industry Analysts, Inc. Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.