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.
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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.
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.
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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.
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.
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
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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