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.
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.
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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.
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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.
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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.
TOP
10 COMPANIES IN LIVE STREAMING MARKET
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