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The social TV sector has been forecast to reach $202 billion by 2018, driven by the growth in internet users, increasing broadband and mobile device penetration and the integration of social networking features into TV programs.
According to a recent market report, 'Social TV: A Global Strategic Business Report,' Europe represents the largest regional market, followed by the United States. Asia-Pacific represents the fastest growing market with a compound annual growth rate (CAGR) of 12.9% forecast over the next five years.
Growth in the region is driven by increased level of Internet access and TV consumption, high broadband penetration, rapid urbanisation, expanding social media presence, and emergence of TVs integrated with Internet, widgets, and applications.
Social television is a general term for technology that supports communication and social interaction in either the context of watching television, or related to TV content. It also includes the study of television-related social behaviour, devices and networks.
Social television systems can for example integrate voice communication, text chat, presence and context awareness, TV recommendations, ratings, or video-conferencing with the TV content either directly on the screen or by using ancillary devices.
The availability of personalised 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 sector.
Future growth in the social TV sector 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.
For more information on the social TV sector, see the latest research: Social TV Sector
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