Global Social Television Market to Grow at a CAGR of 9% During 2024-2032, Aided by the Rising Tie-ups Between broadcasters and Social Media Platforms

The growing number of agreements between the television content broadcasters and social networking platforms is driving the market for social television. This is because of the increase in content which will attract increasing number of users. The social television market is being propelled by the growing advertisements. The direct audience interaction in the social television industry allows for better targeting of advertisements. The broadcasters are also able to more accurately understand the viewer feedback and improve their marketing plans. The increasing customization of content for the viewers is also leading to a surge in demand for social television. The new contents suggested are based on the viewer preferences which can further increase the demand. The smart television segment of social television hardware is anticipated to witness rapid growth in demand. This is because of the increasing market penetration of smart television in the global market because of technological improvements. The ad production and serving platforms are also going to have significant growth in the technology segments because of the increase in advertisements in social television market.

The rise in advertisements have been driving the market for social television. Twitter Inc (NYSE: TWTR) is a major player in the social television market. In September 2018, Twitter announced that it will push the live broadcasts from followed accounts on the top of timeline. The video advertisements would thereafter be more visible to its users. The in-stream videos will receive more viewership and will be run from the partners of Amplify, Twitter’s social television platform. This will propel the market to further growth in the forecast period.

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Market Analysis by Solutions, Hardware, Technology, Application, and Regions:

• The kinds of social television solutions are software and professional services. 

• On the basis of hardware, the industry is categorised into smart TV and connected devices.

• The social technology is divided on the basis of technology into social EPG/content discovery, ad production, ad serving platforms. social curation and syndication, general social analytics, content detection matching, meta data suppliers, social tv analytics, and sharing technologies, among others.

• The industry is segmented on the basis of application into social gaming/interaction, social rewards, social discussions, social check-ins, remote control applications and TV-specific social networks, among others.

• The regional markets for social television include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing use of smartphone is propelling the social television market.

• The customization of content for users is boosting the industry demand.

• The rising population, urbanisation, and economic development is providing impetus to growth of the industry.

• The broadcasters are increasingly tying up with the social media platforms which will drive the market demand.

• The rising number of advertisements is boosting the social television industry.

Key Offerings of the report:

• The EMR report gives an overview of the global social television industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the solution, hardware, technology, application, and major regions of social television industry. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global social television market are Telescope Inc., Vizrt Group, Talkwalker Inc., Sprout Social, Inc., and Twitter Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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