Global Live Streaming Market Expected to Grow and Reach a Revenue of USD 4.29 Billion in 2028
The way media is being consumed by people has changed rapidly over 100 years. The Global Live Streaming Market is majorly driven by the rising popularity of live streaming technology for better brand engagement and reach to consumers, and increasing government initiatives. Additionally, the surging popularity of e-sports and video games along with a growing preference for live streaming over social posts and increasing adoption of smartphones coupled with faster internet are some other factors driving the market growth over the forecast period.
Moreover, the need to optimize network bandwidth is increasing in addition to increasing the consumer base. Thus, flourishing the Live Streaming market growth over the forecast period. In addition to this, the incorporation of advanced technologies in the digital media industry is the new trend in the live streaming market, thus, are some factors offering lucrative opportunities to key players engaged in live streaming. Thus, further propelling the market growth over the forecast period. However, fake traffic on live streaming sites is one of the factors that may act as restrain and hinder the market growth over the forecast period.
COVID-19 has led to serious implications and affected almost all industries. Owing to the lockdown government had to announce strict lockdown in several countries. Owing to this, manufacturing plants were temporarily shut down, whereas people were stuck in their places. Thus, during the lockdown, internet usage has been increased drastically, especially with live streaming applications such as YouTube, Facebook, Instagram, Hotstar, Netflix. Additionally, Live streaming platforms, such as Zoom, Skype, Amazon Chime, BlueJeans, and Cisco WebEx, were popular in business settings. Google Hangouts, Facetime, and Houseparty were also common for personal communications during this pandemic.
Asia Pacific holds the major share in the market owing to the rapid growth of cloud-based streaming services. Asia Pacific is anticipated to be at the fastest Compound Annual Growth Rate (CAGR) over the forecast period. The market growth in the region is attributed to greater technological infrastructure in developing countries such as India and China. Additionally, the highly competitive environment in the region is expected to trigger the growth of video streaming software solutions and services which is anticipated to augment the market growth over the forecast period.
Some of key players in Live Streaming Market include, Meta (U.S.), YouTube (US), Flux Broadcast (U.K.), Twitch Interactive, Inc. (U.S.), Dacast (U.S.), IBM Corporation (U.S.), Stream Hatchet SLU (Spain), Huya Inc. (China), Afreecatv Corp. (South Korea), Empire Video Productions, LLC (US), Dailymotion (France), Streamshark (Australia), Tiktok (U.S.), Vimeo, Inc. (U.S.), Pluto Inc. (U.S.), EventStreaming.TV (WaveFX Ltd.) (U.K.), VosCast (U.S.), Boxcast (U.S.), Uplynk (U.S.), and Wowza (U.S.)..
Browse the full Report - Live Streaming Market Size, Share & Trends Analysis Report by Component (Platform, Services), by Offering Model (B2B, B2C), by Streaming Type (Audio, Video, Game), by Vertical (Media & Entertainment, Education, Sports & Gaming, Government), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)