Global social TV market: $202 billion industry for

Global social TV market: $202 billion industry forecast by 2018

Global social TV market: $202 billion industry forecast by 2018 Global Social TV market is projected to reach US$202 billion by 2018, driven by growing Internet users, increasing broadband and mobile device penetration and integration of social networking features into TV programs. 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. 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. 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. Global Industry Analyst

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