The Global Market for Social TV is Projected to Reach US$262 Billion by 2020

Rapid Penetration of Second Screen Devices Drives the Global Social TV Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Social TV. The global market for Social TV is projected to reach US$262 billion by 2020, driven by surging penetration of second screen devices such as smartphones and tablets and rapid integration of social networking features in TV programs.

The social TV experience takes television viewing one step ahead by allowing users to interact with other viewers while watching a regular broadcast program. Opening up traditional television to the intriguing world of the Internet, social TV provides a new definition to the concept of socializing over TV. Social TVs enables technological convergence between television sets and second screens thereby generating wide range of possibilities for the average TV viewer. Social TV offers viewers an opportunity to engage in real-time discussions, content discovery, sharing, and participation in television shows through smart TVs, social media networks, and second screens such as computers, tablets, and smartphones.

Future growth in the 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. Mobile messaging, Chat and Tweet apps in this regard are also poised to benefit market growth in the coming years. 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. Technological advancements pertaining to handheld devices such as mobile phones and tablets, robust growth in mobile subscriber base and rapid proliferation of smartphones and tablets that provide viewers the option of watching TV anywhere anytime represent key growth drivers for the mobile social TV market.

As stated by the new market research report on Social TV, Europe represents the largest market worldwide. Asia-Pacific represents the fastest growing market with a CAGR of 13.1% over the analysis period. Growth in the region is driven by increasing level of Internet access, high broadband penetration, rapid urbanization, growing middle class population, expanding social media presence, rising popularity of mobile messaging apps, and emergence of TVs integrated with Internet, widgets, and applications.

Key players covered in the report include Bluefin Labs, Networked Insights, SecondSync Ltd., SocialGuide, Inc., Trendrr, Beamly, BuzzFeed, ConnecTV, Ex Machina, Facebook, Inc., iPowow Ltd., i.TV, tvtag, Instagram, Netflix, Inc., Pinterest, Shazam, SnappyTV, Spredfast, Starling, Inc., Tumblr, Tunerfish, TVplus, Twitter,Viggle, Inc., and VLOOP LLC, among others.

The research report titled “Social TV: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry trends, growth drivers, restraints, market share, market size, product launches, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections 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.

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