According to Future Market Insights’ social TV Market analysis report, global sales of the Social TV Market in 2022 were held at US$ 2 billion. With an anticipated growth rate of 12% between 2023 and 2033, the market is expected to reach a valuation of US$ 7 billion.
Increased disposable income and the adoption of OTT services are expected to boost the expansion of the industry. Families are changing as people transition from traditional TVs to social TV sets. The increasing emphasis of broadcasters on increasing audience participation in TV shows or TV content is the primary factor powering the worldwide social TV sector. Entertainment organizations can maximize the content of their broadcasts by incorporating broadcast-focused research approaches globally through social media sites. This factor is driving the worldwide social TV industry.
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The expansion of the social TV sector is aided by an increase in the number of web users and the percentage of interactive TV consumers. Considering a big number of corporations are substantially investing in social TV, the industry has considerable growth potential in the foreseeable future. North America holds a sizable percentage of the global social TV business owing to the swift adoption of cutting-edge technical and digital platform solutions, along with an increase in consumer spending on sophisticated social TV solutions.
Key Takeaways from the Market Study
- Social TV Software is forecast to be the greatest revenue-generating segment, with a CAGR of roughly 11.8% between 2023 and 2033.
- The market grew at an 11.5% CAGR during the last five years.
- With a market size of more than US$ 2 billion, North America is expected to hold the greatest share of the global Social TV Market.
- During the period 2023-2033, Social TV Software is predicted to dominate the market at a CAGR of around 12%.
- By the end of 2033, the United States is assumed to have the largest market, valued at US$ 1.5 billion.
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Competitive Landscape
Owing to the emergence of new start-ups offering a diverse variety of innovative solutions adapting to varied industrial objectives, the social TV industry has been witnessing severe rivalry.
- On February 20, 2022 – Former US President Donald Trump unveiled TRUTH Social, a social networking platform that he states would “stand up to Big Tech” corporations like Twitter and Facebook, which have prohibited him from using their offerings.
In April 2022 – Twitter, Inc. stated that it has reached a definitive agreement to be purchased by a company entirely controlled by Elon Musk for USD 54.20 per stock in cash, in a transaction valued at approximately USD 44 billion. Following the completion of the acquisition, Twitter will function as a privately held firm.
Key Companies Profiled
- Talkwalker Inc.
- Flowics
- SentabTV
- Telescope
- Haier Group
- Hitachi, Ltd.
- iPowow Ltd
- Sharp Corporation
- Snipperwall
- Socialbakers Ltd.
Segmentation Analysis of the Social TV Market
By Solution:
- Social TV Software
- Broadcast Integration
- Audience Engagement
- Content Moderation
- Social TV Analytics
- Social Networking Platform
- Others
- Social TV Service
- Integration and Consulting
- Operation and Intallation
- Maintenance and Repairing
By Application:
- Sports
- News
- TV Shows
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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