Social TV Market Poised for US$ 7 Billion by 2033, Boasting 12% CAGR

The future of the social TV market appears to be incredibly promising, with a forecasted (CAGR) of 12%, propelling the industry towards a substantial market value of US$ 7 billion. This anticipated growth underscores the dynamic nature of the social TV market, driven by the convergence of television and social media.

As viewers increasingly seek interactive and engaging content experiences, social TV represents a powerful platform for bridging the gap between traditional broadcasting and the digital age. This growth trajectory is indicative of the ongoing transformation in how we consume and interact with television content, promising a vibrant and lucrative future for the social TV market.

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As social media platforms become more popular, enterprises are exploiting their capabilities to obtain insights into 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 Social TV Market Report:

• Global Social TV Market is estimated to reach a market size of US$ 2.1 Billion by 2022.  
• In terms of Solutions, 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 Billion during 2022 – 2032. 

• The market in the U.S. is set to experience the highest CAGR of 8.3% during the 2022-2032 forecast period. 

Leading Key Players:

• Talkwalker Inc.
• Flowics
• SentabTV
• Telescope
• Haier Group
• Hitachi, Ltd.
• iPowow Ltd
• Sharp Corporation
• Snipperwall
• Socialbakers Ltd.

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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 agreed to take over Blue Yonder, a prominent end-to-end digital fulfillment platform provider. Later, Panasonic acquired the remaining 80% of Blue Yonder’s shares for US$ 5.6 Billion, adding to the 20% it bought in July 2020. The extra investment, including debt repayment, totaled US$ 7.1 Billion, pricing Blue Yonder around US$ 8.5 Billion.  
• 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 fulfillment 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 the Social TV Market by Solution (Software, Services) and application (Sports, News, TV shows, Others), across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

Social TV Market Segmentation: