The U.S. TV app market will grow to...
The U.S. TV app market will grow to $14 billion by 2017, from $4.5 billion in 2012, said a study from market research firm NextMarket Insights (http://bit.ly/16JzaPf). “One reason the market will see such strong growth is the rising tide…
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of demand from consumers for connected devices and associated app and service frameworks,” said the study that was released Thursday. However, it also said the high number of TV software platforms could be a problem for the TV app market. “There are at least 8-10 major connected TV software platforms in the market today, each with their own respective SDKs [software development kits], marketplaces, supported advertising networks and commerce engines,” said NextMarket Insights. The lack of “dominant players” could hinder growth of the market, said the study. The market growth in TV apps will be accompanied by growth in ads for connected TVs, it said. “Just as the advertising market for mobile matured significantly as the smartphone and app revolution was ushered in from 2008-2012, NextMarket Insights expects the same for the connected TV advertising market over the next five years.”