Live Streaming Market Research Report- Forecast till 2027
Rising consumption of live-streamed video by users across verticals is expected to drive the market growth. The growing need for greater brand engagement and reach through live videos is another factor that is boosting the growth of the market. The huge audience for live streaming content and the increasing number of Internet, as well as smartphone users, are the other factors that are fueling the market growth.
Global Live Streaming Market is expected to reach USD 247,275 Million by 2027, registering a CAGR of 28.1% during the forecast period (2020–2027). In this report, Market Research Future (MRFR) includes the segmentation and market dynamics to offer a better glimpse of the market in the coming years.
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Geographically, the global live streaming market has been categorized into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Asia-Pacific is currently dominating the global live streaming market, mainly due to the high population of youth in the region. Also, the other factors that support market growth include the proliferation of live video-streaming services and the rising consumer preference for live streaming over conventional television channels where users need to wait for their favorite shows to be telecasted. Also, the adoption of digital innovation in the region has been on the rise, increasing Internet penetration in emerging economies such as India, Malaysia, Singapore, and China. The Asia-Pacific market contributed USD 8,882.9 million in 2018 to the global market and is expected to reach USD 93,445.2 million by 2027, recording the highest CAGR of 30.6%.
Live Streaming Market has been segmented based on Component, End-User, and Region.
Based on the component, the live streaming market has been segmented into platforms and services. According to MRFR analysis, the platforms segment accounted for a larger market share of 81.6% in 2018. It is expected to record a CAGR of 28.0% during the forecast period. The services segment is projected to register a higher CAGR of 28.4%.
Based on the end-user, the global live streaming market is divided into esports, retail, events, media & entertainment, education, government, and others. End users have been extensively using live streaming platforms to interact with and entertain the intended audience. Live streaming is more appealing to brand audiences; a significant number of people would prefer to watch live video from a brand over reading a blog and would prefer live video from a brand over social posts. Furthermore, due to the spread of COVID-19, countries are under lockdown, and events and shows have been canceled, which has therefore led to a significant rise in live streaming activity across the globe. In fact, in April, Facebook gaming, Twitch, and YouTube witnessed a massive growth in live viewership globally. Media & entertainment accounted for the largest market share of 34.3% in 2018 and is expected to register a CAGR of 28.3% during the forecast period. The media & entertainment segment covers news broadcasting companies, film production, and event management companies that promote their events and cover various national events for their intended audiences. Several media & entertainment companies are adopting live streaming services to engage their intended audiences, thereby driving the overall market.
The Key Players of the Global Live Streaming Market are Instagram, Inc.(US), Empire Video Productions, LLC (US), Streaming.hr (Croatia), Twitch Interactive, Inc. (US), Vimeo (US), AfreecaTV Co., Ltd. (South Korea), IBM Corporation (US), Dacast (US), Flux Broadcast (UK), Huya, Inc (China), EventStreaming.TV (UK), Periscope (UK), Microsoft Corporation (US), Facebook, Inc. (US), Google, Inc. (US), and Amazon.com, Inc. (US).
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Live Streaming Market Research Report: By Component (Platforms and Services), End-User (Media & Entertainment, Esports, Events, Education, Retail, Government and Others) and by Region (North America [US, Canada and Mexico], Europe [Germany, UK, France, Italy and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea and Rest of Asia-Pacific], Middle East & Africa and South America) – Forecast till 2027
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