In terms of revenue, the Global Live Streaming Market is expected to reach USD 4290 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 23.40% from 2022 to 2028.
In recent years, the demand for lifestreaming is increasing owing to the increasing use of IoT and the majority of youngsters prone to video games and E-Sports. The increasing availability of mobile phones and smart tablets has increased the demand for Live Streaming Market.
- The solution sub-segment from the component segment is anticipated to dominate the Live Streaming Market. The growth in this segment is attributed owing to the increasing use of video streaming solution-based components which is enabling users to manage and securely deliver videos.
- The deployment model segment is accounted for the largest market share in 2021. Cloud is considered to be the most appropriate factor for the growth of the market thus accounting for the segment to grow. A cloud platform is the most appropriate and user-friendly platform that helps live games to run smoothly and error-free.
- Asia Pacific is the largest regional segment. This surge is attributed to the rising demand for live streaming games in developing economies such as China and India.
Some of key players in Live Streaming Market includes, 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.)..
The Global COVID-19 pandemic has disrupted the workflow in the gaming and IT industry. The virus has forced a number of information technology & IoT companies to shut down and various sub-segments of the sector to slow down thus creating an impact on the revenue cycles.
Digital format is increasing significantly across the globe. The rise in the number of devices capable of supporting digital media, along with the growing access to high internet speed, provides consumers with an option to access the media content of their choice, be it information, entertainment, or social activity, anytime and anywhere. Among all the digital devices used, mobile devices have taken over as the preferred medium of consuming online media. The smartphone market has witnessed unprecedented growth in the last five years. The use of smartphones is growing across the globe. As per the 2019 data, 2.71 billion people in the world own a smartphone. The online video trend is exploding the amount of internet traffic generated at a high rate. It is expected to account for nearly 60% of the total internet traffic by 2021. With improved networks, better access to the internet, multimedia service-capable mobile devices, and an application development ecosystem, more and more media consumption is taking place via digital platforms.
Asia Pacific is expected to dominate the global Live Streaming Market in 2021 and is likely to continue the same trend during the forecast period. Developing countries are gradually advancing toward using video streaming platforms to improve and streamline their business processes. Densely populated countries, such as India and China, are now advancing progressively toward live streaming monetization models to improve and streamline their business processes. An increase in R&D for developing new projects in live streaming in countries such as China & India is further adding spotlight. Significant improvements in the manufacturing and processing infrastructure, especially in the developing economies, are providing a thrust to the Live Streaming Market growth.
- In March 2021, IBM introduced a replace video feature for its video streaming and enterprise video platforms. This allows organizations to update outdated videos with newer versions while not worrying about the logistics around URL links or instances where the video was embedded.
- In April 2020, Degreed, a workforce upskilling platform, is partnered with video cloud Kaltura to enable quick and simple use of video in talent development. The partnership will facilitate learning and talent teams to create, unify, curate, and protect videos and insert them seamlessly into both self-directed learning and structured training experiences.
- In February 2021, Brightcove launched Brightcove Cloud Playout, a new feature that enhances Brightcove’s end-to-end video platform and makes it one of the few online video providers to offer this capability.