The “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 Region – Global Forecast To 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Live Streaming Market is expected to reach $4.26 million by 2028, growing at a CAGR of 22.4% during the forecast period of 2021 to 2028.
The growth of the market is majorly attributed to the surging popularity of e-sports and video games, growing preference for live streaming over social posts, increasing adoption of smartphones coupled with faster internet, and increasing need for live streaming technology for better brand engagement.
In addition, the growing need for optimizing network bandwidth and increasing consumer base for live streaming content are expected to offer significant growth opportunities for players operating the live streaming market. Apart from this, incorporating advanced technologies in the digital media industry is the new trend in the live streaming market. However, fake traffic on live-streaming sites, connectivity, and production issues can obstruct the growth of this market to some extent.
Based on component, the services segment accounted for the largest share of the global market in 2021. The large share of this segment is primarily driven by the surging demand for video production, advertising, customer support, content creation services, subscription services, rising demand for ensuring seamless delivery of content, and need for professional post-production support to help deliver content based on client specifications & provide a personalized experience to viewers.
Based on offering model, the business-to-consumer (B2C) segment accounted for the largest share of the global market in 2021. The large share of this segment is primarily driven by the increasing need for transmission of live content on the Internet for better brand engagement, growing adoption of smart devices coupled with faster internet penetration, and surging social media platforms.
Based on streaming type, the video streaming segment accounted for the largest share of the global market in 2021. The large share of this segment is primarily driven by the rising customer online data consumption and surfing behavior, growing use of influencers to drive new applications and attract new customers for branding and marketing, and growing adoption of cloud-based solutions to increase the reach of live video content. However, the game streaming segment is slated to grow at the highest CAGR during the forecast period.
Based on vertical, the media & entertainment sector commanded the largest market share in 2021. The large share of this segment is primarily driven by the growing popularity of online live video streaming in the media & entertainment industries and rising technological advancements such as the implementation of blockchain technology in streaming.
The Asia-Pacific region accounted for the largest share and highest CAGR of the overall live streaming market in 2021. The large share of this segment is mainly attributed to the increasing consumer base for the live streaming content, increasing adoption of smartphones coupled with high internet penetration, and surging adoption of live-streaming platforms for better brand engagement in the region. PR Newswire