The Social TV Market revenues were estimated at US$ 1.8 Bn in 2021 and is anticipated to grow at a CAGR of 11.1% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 5.9 Bn. Revenue through Social TV Software is projected to grow at a CAGR of 11.8% during 2022 – 2032.
The industry is being pushed by the increasing global popularity of social media platforms. Over the previous decade, social media platforms have emerged as the world’s most disruptive trend. It has drastically altered the way people interact, obtain information, and enjoy themselves.
The overall frequency of social media consumers reached 3.5 Bn in 2019, representing around 33% of the worldwide population, which is further expected to rise in the future.
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As social media platforms become more popular, enterprises are exploiting their capabilities to obtain insights on customer behavior to create a better customer experience. The television and entertainment industries are also cooperating with social media businesses to improve client engagement and experience.
The integration of social media sites into television allows for the convergence of social layers into entertainment and allows users to engage with other viewers while watching television.
Key Takeaways from the Market Study
- Global Social TV Market is estimated to reach a market size of US$ 2.1 Bn by 2022.
- In terms of Solution, the Software segment is expected to have the highest CAGR rate of 11.8% during the forecast period.
- In terms of Application, the TV Shows segment is expected to have the highest CAGR rate of 10.9% during the forecast period.
- United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 1.2 Bn during 2022 – 2032.
- The market in U.S is set to experience the highest CAGR of 8.3% during the 2022-2032 forecast period.
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Competitive Analysis
The social TV market has been experiencing fierce competition due to the introduction of new start-ups offering a diversified variety of creative solutions catering to different industrial requirements. Some of the key social TV players include Talkwalker Inc., Flowics, SentabTV, Telescope, Haier Group, Hitachi, Ltd., iPowow Ltd, Sharp Corporation, Snipperwall, and Socialbakers Ltd.
Some of the recent market developments are as follows:
- In July 2020, Talkwalker, a provider of social monitoring and audience insights software announced the purchase of Nielsen Social. Talkwalker’s AI-enabled translational intelligence platform will benefit from Nielsen Social’s revolutionary Social Content Ratings solution.
- The purchase would strengthen Talkwalker’s existing position in servicing global brands while also expanding its footprint in the US enterprise market. Talkwalker has achieved another milestone with this purchase.
- In April 2021, Panasonic Corporation has agreed to take over Blue Yonder, a prominent end-to-end digital fulfilment platform provider. Later, Panasonic acquired the remaining 80% of Blue Yonder’s shares for US$ 5.6 Bn, adding to the 20% it bought in July 2020. The extra investment, including debt repayment, totaled US$ 7.1 Bn, pricing Blue Yonder around US$ 8.5 Bn.
- Bringing together Panasonic’s strengths in industrial engineering, IoT and edge technologies alongside Blue Yonder’s AI/ML-driven supply chain as well as commerce solutions significantly increases the consumer value of Blue Yonder’s premier digital fulfilment platform. Panasonic and Blue Yonder will work together to provide clients with a competitive edge by driving more automation and actionable, real-time business analytics that cut waste and enhance operations while building a more sustainable world.
- In March 2021, Hitachi, Ltd. announced the acquisition of GlobalLogic Inc., a prominent digital engineering services firm located in the United States. The transaction is based on a formal agreement between Hitachi’s Global Holdings Corporation, a subsidiary in the United States.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Social TV Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Social TV Market by Solution (Software, Services), Application (Sports, News, TV shows, Others), across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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Market Segments Covered in Social TV Market Analysis
By Solution:
- Social TV Software
- Broadcast Integration
- Audience Engagement
- Content Moderation
- Social TV Analytics
- Social Networking Platform
- Others
- Social TV Services
- Integration and Consulting
- Operation & Installation
- Maintenance & Repairing
By Application:
- Sports
- News
- TV shows
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Related Links –
https://s30481987968.whotrades.com/blog/43358374659?nrac=1
https://pressreader.com/article/6755524011971716
https://homment.com/8hDRtAPG6HkmjYLMGvvY
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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