The rising popularity of live streaming technology for better brand engagement and reach to consumers, the surging popularity of e-sports and video games, growing preference for live streaming over social posts, and increasing adoption of smartphones coupled with faster internet are expected to drive the growth of the live streaming market.
Additionally, the growing need to optimize network bandwidth and
increase the consumer base for live streaming content further contributes to market growth. Furthermore, the
incorporation of advanced technologies in the digital media industry is the new
trend in the live streaming market. However, fake traffic on live streaming
sites is creating new challenges for the overall market growth. Also,
connectivity and production issues may restraint the growth of this market in
the approaching years to some extent.
According to a new market research report
titled, “Live Streaming Market by
Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type
(Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports
& Gaming, Government, Fitness), and Geography – Global Forecast to 2028,” published by Meticulous Research®, the live streaming
market is expected to grow at a CAGR of 22.4% from 2021 to 2028 to reach $4.26
billion by 2028.
Download Research
PDF with TOC @ https://www.meticulousresearch.com/download-sample-report/cp_id=5225
Impact of COVID-19 on the Live Streaming Market
The COVID-19 disrupted people’s work lives, fueling significant growth
in people seeking live streaming, particularly in emerging markets. The
pandemic transformed live video technology into nothing short of a necessity.
Healthcare, business continuity, public safety, and mental health all now
depend on it. During the pandemic, live streaming was used as a workaround to isolation
measures in various ways. Religious services, virtual events, and
statewide town halls were all broadcasted over the Internet due to widespread
stay-at-home orders. Many of these are just extensions of traditional
broadcasts that benefited from the ease of use of live streaming.
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.
But, safety concerns have hit the news cycle. Incidents of
‘Zoombombing,’ during which unintended attendees join private meetings, have
revealed why many enterprises choose to deploy streaming infrastructure
in-house. Moreover, AI added value to video apps with voice-to-text
transcription, natural language processing, and balanced sound and computer
vision.
Several organizations that leveraged streaming technology for
telemedicine proved instrumental in efforts to flatten the COVID-19 curve.
Virtual doctor visits finally went mainstream, while live video sharing tools
helped contain the spread. Another company that utilized telemedicine
technology to ease the burden of social distancing was AngelEye Health.
The clinical communication platform allowed families to watch their newborn
baby while being cared for in the neonatal intensive care unit (NICU).
Several organizations focused on digital technologies to build a brand
and showcase new services and products for producing low-cost hardware aimed at
the broadcaster with live streaming at the forefront. For instance, in 2021,
Innovative Systems, Inc. (U.S.) partnered with Midwest Video Solutions (U.S.)
to deliver a fully hosted end‐to‐end streaming video and headend service. Also,
in 2021, FilmMyMatch (U.S.) signed an agreement with JOYMO (Norway) to deliver
live streaming, video management, and production services to clients across the
U.K.
Quick Buy – Live Streaming Market Research Report: https://www.meticulousresearch.com/BuyNowToCheckout/1592
Live Streaming Market Overview
The overall live streaming market is segmented on the basis of component
[(platform, services (subscription services, advertisement, and video
production & content creation services)], offering model
(business-to-business and business-to-consumer), streaming type (audio
streaming, video streaming, and game streaming), vertical (enterprises, media
& entertainment, education & e-learning industry, sports & gaming
industry, government, fitness industry, religious organizations, and others),
and geography. The study also evaluates industry competitors and analyses the
market at the country and region levels.
Based on component, the services segment is estimated to account for the
largest share of the overall live streaming market in 2021. The large share of
this segment is primarily driven by the growing demand for new installation and
integration of live-streaming platforms; the need for professional
post-production support, up-gradation, and maintenance to help deliver content
based on client specifications and provide a personalized experience to
viewers; and surging demand for customer support, content creation services,
and subscription services.
Based on offering model, the business-to-consumer segment is estimated
to account for the largest share of the overall live streaming market in 2021.
The large share of this segment is primarily driven by the rising adoption of
smart devices coupled with faster internet penetration, increasing need for
transmission of live content on the Internet for better brand engagement, and a
surging number of social media platforms & s-commerce sites.
Based on streaming type, the video streaming segment is estimated to
account for the largest share of the overall live streaming market in 2021. The
large share of this segment is primarily driven by the growing use of
influencers to drive new applications and attract new customers for branding
and marketing, growing adoption of cloud-based solutions to increase the reach
of live video content, and rising customer online data consumption and surfing
behavior. However, the game streaming segment is slated to grow at the highest
CAGR during the forecast period.
Based on vertical, the media & entertainment sector is estimated to
account for the largest share of the overall live streaming market in 2021. The
large share of this segment is primarily driven by the growing popularity of
online live video streaming, rising technological advancements, increasing
consumer base for live streaming content, growing adoption of cloud-based video
streaming solutions, and use of AI for increasing the reach of video content.
Based on geography, the Asia-Pacific region is estimated to account for
the largest share of the overall live streaming market in 2021. The large share
of this region is primarily attributed to the presence of major live streaming
players along with several emerging startups in the region, surging adoption of
live-streaming platforms for better brand engagement, increasing consumer base
for the live streaming, and rising focus on digitalization with technological
advancement in cloud computing, AI, and 5G.
The report also includes an extensive assessment of key strategies
adopted by leading market participants over the past four years. The live
streaming market witnessed a surge in the number of partnerships &
agreements in recent years, enabling companies to broaden their product
portfolios in live streaming. For instance, in 2021, Tiktok (U.S.) partnered
with UFC (U.S.) to deliver exclusive live-stream content on its platform. In
2021, Scienjoy Holding Corporation (China) partnered with the Global Friendship
Exchange Foundation to establish a live streaming studio and non-fungible token
(NFT) art gallery in New York.
The global live streaming market is fragmented in nature. The major
players operating in this market are Flux Broadcast (U.K.), Facebook Inc.
(Instagram) (U.S.), Dacast (U.S.), Twitch Interactive, Inc. (U.S.), IBM
Corporation (U.S.), Huya Inc. (China), Stream Hatchet SLU (Spain), Empire Video
Productions, LLC (Florida), Afreecatv Corp. (South Korea), Streamshark
(Australia), Dailymotion (France), Vimeo, Inc. (U.S.), Tiktok (U.S.),
EventStreaming.TV (WaveFX Ltd.) (U.K.), Pluto Inc. (U.S.), Boxcast (U.S.),
VosCast (U.S.), Uplynk (U.S.), and Wowza (U.S.), among others.
To gain more insights into the market with a detailed table of content
and figures, click here: https://www.meticulousresearch.com/product/live-streaming-market-5225?utm_source=Blog&utm_medium=Social&utm_campaign=Product&utm_content=15-12-2021
Scope of the Report:
Live Streaming Market, by
Component
- Platforms
- Services
- Video
Production and Content Creation Services
- Subscription
Services
- Advertisement
Live Streaming Market, by Offering
Model
- Business-to-Business
(B2B)
- Business-to-Consumer
(B2C)
Live Streaming Market, by Streaming
Type
- Audio
Streaming
- Video
Streaming
- Game
Streaming
Live Streaming Market, by
Vertical
- Enterprises
- Media
& Entertainment
- Education
& E-learning Industry
- Sports
& Game Industry
- Government
- Fitness
Industry
- Religious
Organizations
- Others
Live Streaming Market, by Geography
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Switzerland
- Sweden
- Rest
of Europe
- Asia-Pacific
- Japan
- China
- India
- South
Korea
- Australia
& New Zealand
- Indonesia
- Thailand
- Rest
of Asia-Pacific
- Latin
America
- Mexico
- Brazil
- Rest
of Latin America
- Middle
East & Africa
- South
Africa
- Saudi
Arabia
- UAE
- Israel
- Rest
of the Middle East & Africa
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