The increasing internet penetration, the rising number of smartphone users in different countries, and the growing popularity of social media platforms are driving the global live streaming market demand.
According to TechSci Research report, “Live Streaming Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”. The global live streaming market is witnessing high demand, owing to the increasing penetration of broadband in households, along with the rise in smartphone users, and social media platforms.
The market for live streaming is expanding significantly due to the increasing use of smartphones and the ease of internet connection. Users are choosing online streaming services due to the introduction of high-end smartphones and the accessibility to the internet. Users now have easier mobile access to video and audio content because of the rise in smartphone sales. In addition, several online streaming service providers are looking at mobile platforms to offer online streaming services Mobile devices with large screens and sharp displays give users a better viewing experience.
The appetite for smartphones in developing nations like India, Russia, and Mexico has been spurred by improved internet connectivity and inexpensive smartphones. Internet accessibility has risen due to the cheap cost expansion of 4G and 5G technology. In the long run, this is driving companies to introduce online streaming services, particularly for mobile devices. As a result, the global live streaming market is expanding due to the increasing use of smartphones and convenient access to the internet. Due to the COVID-19 pandemic and subsequent lockdowns, consumers worldwide spent more time online in 2020, driving up mobile engagement. As a result, the expansion of mobile advertising is likely to impact the market’s revenue inflow, which will help the global live streaming market, develop throughout the period.
According to streaming type, it is predicted that in 2021, the video streaming market will hold the most significant market share. The large share of this market is primarily fueled by the growing online data consumption and browsing behaviors of consumers, the increasing adoption of cloud-based solutions, the growing use of influencers in branding and marketing campaigns, and the growing use of social media platforms and other digital mediums.
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The live streaming market is segmented into streaming types, , and applications. Based on streaming type, the market is divided into audio and video. Based on streaming platforms, the market can be segmented into gaming consoles, laptops & desktops, smartphones & tablets. Further, based on application, the market is fragmented into media & entertainment, esports, events, and education. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
North America is expected to dominate the market in the anticipated years, owing to the accessibility of high-speed data due to the launch of 4G and 5G, the growth of broadband networks, and the rising popularity of live streaming on various social media platforms. Online streaming services are becoming more popular, motivating foreign service providers to improve their service offerings in North America.
Key market players in the global live streaming market include:
- Google LLC
- Meta Platforms, Inc.
- Twitch Interactive, Inc.
- Discord Inc.
- Vimeo, Inc.
- International Business Machines Corp.
- Empire Video Productions, LLC
- Huya Inc.
- Vidizmo LLC
- AfreecaTV Co., Ltd.
High-speed internet connectivity is required for audio and video streaming. The demand for live streaming services is anticipated to overgrow during the projected period due to the rising expenditures in building reliable communication network infrastructure in APAC. Therefore, to obtain a competitive edge, expand their geographic presence, and maintain their market positions, regional service providers are concentrating on techniques like partnering with technology providers or acquiring rival companies. For instance, in 2021, Sherpa Digital Media, Inc., a platform for hosting and distributing live events, was acquired by Telestream, LLC, a provider of digital media tools and workflow solutions. Sherpa Digital Media has designed its platform to successfully handle virtual events of any scale with a high level of security. Telestream aims to boost its market share with this, by entering new segments.
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“The increasing internet penetration and a broadband connection, which provide high-speed internet to households, and the increasing number of smartphone users in different countries are driving the demand for the global live streaming market. Moreover, brands are using live streaming to launch new products and services to grab a more extensive customer base. In addition, the increasing popularity of esports is further boosting the global live streaming market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Live Streaming Market By Segmented By Streaming Type (Audio, Video), , By Application (Media & Entertainment, Esports, Events, Education) By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of live streaming market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in live streaming market, globally.
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