The live streaming market is thriving amid the global lockdown, with the sector expected to reach USD 559.62 billion at a 29.30% CAGR from 2023–2032, as per Market Research Future (MRFR).
Live streaming industry’s growth can be attributed to live videos or live streaming activities that have risen dramatically. Social platforms are the major source for live video content, and TV is the most popular type of live video content accessed. Brands and public figures started to participate directly with their prospective customers through online platforms such as YouTube, Instagram, and Facebook.
In addition, with the increasing popularity of eSports and video games increasing across all age groups, streaming live video games has gained popularity. In one of its 2018 studies, the Interactive Advertising Bureau (IAB) stated that more than 67% of consumers worldwide had streamed live video content, and more than 52% of that group favored free, ad-supported live streaming over subscription-based and à la carte services.
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Key Players:
The key players in the global live streaming market are Flux Broadcast (UK), Huya, Inc. (China), EventStreaming.TV (UK), Periscope (UK), Microsoft Corporation (US), Vimeo (US), AfreecaTV Co., Ltd. (South Korea), IBM Corporation (US), Dacast (US), Instagram, Inc.(US), Empire Video Productions, LLC (US), Streaming.hr (Croatia), Twitch Interactive, Inc. (US), Facebook, Inc. (US), Google, Inc. (US), and Amazon.com, Inc. (US).
Live Streaming Market Segmentation:
Component, end-user, and geographic segments are used to segment the live streaming market. Platforms and services are important elements of live streaming. The market is divided into end-user categories such as media & entertainment, eSports, events, education, retail, government, and others. The market is divided into four geographic segments based on location: Asia Pacific (China, Japan, India, South Korea, and Rest-of-APAC), the Americas (US, Canada, Mexico, and North America), and the Rest of the World.
The top end will be in media and entertainment.
Media & Entertainment is the largest category in terms of end users. The media & entertainment section includes businesses that produce films, transmit news, and manage events for their target customers. These businesses also cover numerous national events.
Live Streaming Market Regional Analysis:
Due to its large user base, the Asia Pacific region now controls the worldwide live streaming industry. Additionally, the industry is growing due to the development of live video streaming services and the growing customer preference for live streaming over traditional television channels. Additionally, the expansion of the regional market is accelerated by the increased acceptance of digital innovation and expanding Internet penetration in developing nations like China, Malaysia, Singapore, and India.
On the worldwide Live streaming market, North America has seized the second-largest stake. Growing live video streaming and significant expenditure on gaming and entertainment support regional market expansion. The sizeable viewership base and robust demand for OTT platform goods further fuel market expansion in the area and accelerate industry growth. The region's live streaming industry is growing as a result of expanding cloud service usage as well as growing government and network company cooperation.
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