Live Streaming Market Worth $4.26 Billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research® - Yahoo Finance

REDDING, Calif., May 5, 2022 /PRNewswire/ — According to a new market research report titled, "Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), and Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness) – Global Forecast to 2028," 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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Live streaming delivers videos through various streaming protocols over the Internet in real-time and without any video latency. A well-equipped live streaming solution includes an HTML5 video player, easy video embedded options, monetization, production, content creation services, analytics, top-tier security, and reliable content delivery. Several businesses and other organizations use live streaming technology to engage with their audiences. Live streaming became a top priority for many businesses amid the COVID-19 pandemic to promote their products and services and expand their reach with their consumer.
The growth of this market is backed by the surging popularity of esports and video games, the growing preference for live-streamed content, and increasing smartphone adoption and internet penetration. However, connectivity and production issues are expected to restrain the growth of this market. The increasing focus on network bandwidth optimization and the growing scope of live streaming technology is expected to create growth opportunities for the vendors operating in this market. However, fake traffic on live streaming websites is a major challenge for the market's growth. Additionally, the incorporation of advanced technologies is an ongoing trend in this market.
The Impact of COVID-19 on the Live Streaming Market
The COVID-19 pandemic spread across the globe, with governments imposing nationwide lockdowns to ensure social distancing. These lockdowns affected most industries due to restrictions on operations. Enterprises around the globe were severely affected due to operating at limited capacities as per social distancing measures. Most enterprises adopted the remote working model to ensure business continuity. Consequently, there was a notable increase in cloud-based video conferencing applications such as Zoom, Microsoft Teams, Google Meet, and Cisco Webex for employee training, virtual meetings, and facilitating remote working.
According to Dacast (U.S.), approximately 55% of enterprises around the globe used such applications for company/division-wide broadcasts. Also, the COVID-19 pandemic negatively impacted sectors, such as media & entertainment, sports, education, and healthcare. Media & entertainment, sports, and gaming events were either postponed indefinitely or canceled due to lockdown restrictions and social distancing measures, which led to the wide adoption of live-streaming platforms and services to broadcast these events remotely for viewers. Most companies in the media & entertainment space turned to online streaming platforms to enable viewers to watch the released content from the safety of their homes.
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The sports and gaming industries also used live streaming platforms to broadcast major events. For instance, the FIFA 2021 tournament, ICC Men's T20 World Cup (cricket) 2021, and the Tokyo Olympics 2020 were live-streamed for audiences worldwide.
Although the pandemic positively impacted the healthcare sector, there was a heavy burden on hospital infrastructure, doctors, and other healthcare professionals due to the increasing number of COVID-19 cases and the associated hospital admissions. Live streaming technology proved beneficial for the healthcare sector as doctors could offer online consultations, eliminating the need for patients to visit hospitals. Medical experts also used live streaming technology to offer guidance on surgeries and diagnosis. The education sector was also affected severely, with schools, colleges, and other educational institutions shutting down temporarily to comply with government-imposed social distancing restrictions and ensure the safety of students and teachers. In such circumstances, there was a remarkable increase in the adoption of cloud-based video conferencing apps such as Zoom in the education sector for online classes, assessments, seminars, etc.
Religious organizations also adopted live streaming technology for sermons, religious meetings, and reaching out to wider audiences, as people could not visit their houses of worship due to lockdown restrictions. Live streaming technology allowed people to pursue their faith and stay connected with religious communities during the pandemic. Thus, the COVID-19 pandemic positively impacted the live streaming market with a massive increase in the adoption of live streaming services and platforms among various industries.
Surging popularity of e-sports and video games to drive the demand for live streaming
With the surging viewership of live game streams globally, live streaming platforms are setting a new benchmark in the content creation space. Business models in the gaming industry have evolved in tandem with improvements in hardware, processing power, bandwidth, and internet penetration, making high-quality games more accessible across smart devices. Live game streaming involves recording and broadcasting gaming content to a live audience through social platforms. The increasing number of gamers, growth in cloud gaming, and rising investments in gaming and esports are expected to boost the demand for live game streams, driving the market's growth. For instance, in 2021, Kwalee (U.K.), a game developer, announced investments worth approximately USD 30 million over the next five years to expand the company's presence in the Indian market. Also, Hangzhou, the capital of China's Zhejiang province, announced plans to construct around 14 esports facilities before 2022, investing nearly USD 2.22 billion. Such investments in gaming are further expected to drive the market's growth.
Amid the COVID-19 pandemic, government restrictions and nationwide lockdowns boosted users' engagement with video games and esports. The increased time spent in isolation during the pandemic boosted consumers' interest in streaming games globally, drawing the attention of major media companies. According to Newzoo (Netherlands), between 2019–2020, the number of people watching live game streams increased by approximately 11.7% globally, indicating a positive outlook for the overall market in the post-COVID-19 period.
To provide efficient analysis, Meticulous Research® has segmented this market based on component {(platform, services (subscription services, advertisement, and video production & content creation services)}, offering model (business-to-business (B2B) and business-to-consumer (B2C)), 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 other verticals), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).
Based on component, the live streaming market is segmented into services and software/solutions. In 2021, the services segment accounted for the largest share of the overall live streaming market. This segment is also slated to register the highest CAGR during the forecast period. This is mainly attributed to the growing demand for new installation and integration of live-streaming platforms and the need for professional post-production support, upgradation, and maintenance to help deliver content based on client specifications and provide a personalized experience to viewers. Also, surging demand for customer support, content creation services, and subscription services are boosting the market growth.
Based on offering, the live streaming market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2021, the business-to-consumer (B2C) segment accounted for the largest share of the overall live streaming market. This segment is also slated to register the highest CAGR during the forecast period. This is mainly attributed to the increasing need to transmit live content on the Internet for better brand engagement and reach, growing adoption of smart devices, and faster internet penetration. In addition, surging social media platform or established s-commerce sites and rising adoption of live-streaming platforms by retail and media & entertainment industry are further contributing to the fastest growth of the overall market in the region.
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Based on streaming type, the live streaming market is segmented into audio streaming, video streaming, and game streaming. In 2021, the video streaming segment accounted for the largest share of the overall live streaming market. The large share of this segment is mainly attributed to the changing online data consumption and surfing behavior of consumers, growing use of new applications to attract new customers for branding and marketing by influencers, growing adoption of cloud-based solutions to increase the reach of live video content, and growing popularity of social media platforms and other digital mediums. However, the game streaming segment is expected to grow at the highest CAGR during the forecast period. This is mainly attributed to the proliferation of smartphones with high processing power, high internet penetration, an increasing number of online game players, and the rising popularity of esports gaming among youth.
Based on vertical, the live streaming market is segmented into media & entertainment, enterprises, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals. In 2021, the media & entertainment segment accounted for the largest share of the live streaming market. This segment is also slated to register the highest CAGR during the forecast period. This is mainly attributed to the growing popularity of online live video streaming in the media & entertainment industry, rising technological advancements such as the implementation of block-chain technology in streaming, growing adoption of cloud-based video streaming solutions, and the use of artificial intelligence for increasing the reach of video content, improve video quality, and provide security.
Geographically, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, the Asia-Pacific region accounted for the largest share of the live streaming market. The large share of this region is primarily attributed to the factors such as the rising focus on digitalization with technological advancement, including cloud computing, AI, 5G technology in the digital media industry, and the surging adoption of live-streaming platforms for better brand engagement and reach. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This growth is attributed to an increasing consumer base for live streaming content and smartphone adoption coupled with high internet penetration.
The key players operating in the global live streaming market are Meta (Instagram) (U.S.), HUYA Inc. (China), YouTube (Alphabet Inc.) (U.S.), DouYu International Holdings Limited (China), Vimeo.com, Inc. (U.S.), UpLynk (Apollo Global Management, Inc.) (U.S.), IBM Corporation (U.S.), Twitch Interactive, Inc. (Amazon.com, Inc.) (U.S.), Stream Hatchet SLU (Spain), TikTok (U.S.), Flux Broadcast (U.S.), AfreecaTV Corp. (South Korea), Dacast (U.S.), StreamShark (Australia), Pluto, Inc. (U.S.), Boxcast (U.S), VosCast (U.S.), and Wowza Media Systems, LLC (U.S.), among others.
Browse in-depth TOC on "Live Streaming Market – Global Opportunity Analysis And Industry Forecast (2021-2028)"
188 – Tables
36 – Figures
207 – Pages
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Scope of the Report:
Live Streaming Market, by Component
Platforms
Services
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
Europe
Asia-Pacific
Latin America
Middle East & Africa
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