The 5G Network Services to bolster the B2C Live Streaming Video Platforms
The rising internet penetration is making live streaming technology popular among customers. The creation, sharing, and wating of the video content in real-time are known as live streaming. Live streaming enables the video creator to share the content with the audience in real-time. This technology is widely being used by mobile users and other consumer electronics like tablets and laptops and desktops. Live streaming enhances customer engagement with the users.
The prevailing online streaming services like amazon prime, Netflix, and Hotstar are changing the media habits of the consumers. The low data traffic and upsurge in the number of mobile users are majorly driving the demand for live streaming services. The rise in technological investments and up-gradation of the broadcast systems are propelling the market. The customer preference towards video streaming platforms and increased consumer engagement are fuelling the B2C live streaming technology market.
B2C Live Streaming Video Platforms Market Dynamics
The COVID-19 outbreak has bolstered the market growth. The lockdown made people sit at their homes which created a higher demand for the B2C live streaming technology. Live video streaming gained popularity due to rising demand. The social media platforms like Snapchat, Instagram, Facebook, and others are heavily investing in live streaming technology to enhance the user experience.
The B2C live streaming video platforms market is broadly classified on the basis of the type of device used for live streaming and its application. The type segment is further divided as the mobile and PC. The application segment is divided into entertainment, shopping, network education, and marketing. Among these, the entertainment segment holds the largest market share it is expected to grow at a phenomenal rate.
The prominent players in the B2C live streaming video platforms are YouTube, Instagram, Huya, Douyu, Twitch, Bigo (YY), MixerSnapchat, Uplive, Vimeo (Livestream), Twitter, YouNow, and Facebook. Regionally, North America is dominating the B2C live streaming platforms market owing to rising penetration of 5th generation networks and higher spending on the technology. The Asia-Pacific region is estimated to provide opportunities for the B2C live streaming platforms owing to the rise in technology users and techno-savvy population.