The global live streaming market has continuously been surging. Factors such as the growing demand for live and on-demand video content and increasing smartphone use boost the market size. Also, increasing numbers of mobile applications and professional digital learning sectors influence the market growth. The market is witnessing rising numbers of streamers since the COVID 19 onset.
With the increasing numbers of live streaming service providers delivering high-quality content with flexible payment models, the market value is projected to escalate even higher in the next few years. According to Market Research Future (MRFR), the global live streaming market is expected to reach USD 247,275 MN by 2027, posting a 28.1% CAGR throughout the forecast period (2020–2027).
With the Increasing Popularity of OTT Platforms, Live Streaming is to Witness Higher Growth
Social platforms like YouTube, Instagram, Twitter, and Facebook played a major role in popularizing live video streaming apps. Today, these platforms have become the key source of live video content as major brands, celebrities, and public figures use them extensively to interact with their intended audiences. Besides, the growing popularity of eSports and video games adds to the market growth, speeding up live video game streaming.
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Moreover, technological advances facilitating e-learning, streaming, and more throughout the day bolster the live streaming market shares. Proliferation of smartphones and other connected devices and high-speed internet connectivity accelerate market growth. Additionally, increasing implementation of IT security & cloud-based solutions allows the market to flourish.
Live Streaming Market – Segmentation
The live streamingmarket analysis is segmented into components, end-users, and regions. The component segment is sub-segmented into platforms and services. The end-users segment is sub-segmented into media & entertainment, eSports, events, education, retail, government, and others. Of these, media & entertainment is the largest segment accounting for the higher market shares. By regions, the report is sub-segmented into the Middle East & Africa, Americas, Asia Pacific, Europe, and rest-of-the-world.
Live Streaming Market – Regional Analysis
The Asia Pacific region dominates the global live streaming market. Increasing uses of OTT platforms in recent years and a vast user base of OTT platforms are major live streaming market trends. Besides, the availability of live video-streaming services and the rising consumer preference for live streaming over conventional television channels in the region influence live streaming market share.
Penetration of digital innovation and high-speed data bandwidth in emerging economies such as China, Malaysia, Singapore, and India boosts this region’s live streaming market size. Moreover, increasing collaborations between government, network companies, and OTT platform providers in the region drive the market growth.
Live Streaming Market – Competitive Analysis
Well-established, the live streaming market appears fragmented due to the presence of several key players. Matured players incorporate strategies, such as mergers & acquisitions, collaborations, product launches, and expansion to gain a competitive advantage in this market.
Players leading the live streaming market include Flux Broadcast (UK), Dacast (US), Huya Inc. (China), Periscope (UK), TV (UK), Microsoft Corporation (US), Google Inc. (US), Facebook Inc. (US), Twitch Interactive Inc. (US), AfreecaTV Co. Ltd. (South Korea), Vimeo (US), IBM Corporation (US), Empire Video Productions LLC (US), Instagram Inc.(US), Hr (Croatia), and Com Inc. (US), among others.
Industry/ Innovation/ Related News
Aug.16, 2021 — Streann Media and Blackbird announced their partnership to bring content providers more efficient tools to produce live events remotely. This partnership would bring content providers the state-of-the-art remote live streaming production solutions they need to take their content creation strategy to a whole new level.
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