The Live Streaming Market is expected to reach $4.26 billion, at a CAGR of 22.4% during the forecast period of 2021 to 2028. 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 Services Market
The COVID-19 disrupted people’s work lives, fueling significant growth in individuals 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.
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.
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The surging popularity of e-sports and video games to drive the growth of the live streaming market
With the surge in live game stream viewers worldwide, live streaming platforms are setting a new benchmark in the content creation space. Today, the gaming business model has come in tandem with improvements to hardware, processing power, bandwidth, and high internet penetration. This allows high-quality games to be more accessible across smart devices. Thus, live game streaming allows recording and broadcasting content to a live audience through social platforms.
The growing number of gamers, rising cloud gaming, and increasing investments in gaming and e-sports platforms are expected to generate demand for gaming peripherals. For instance, in 2021, Kwalee (U.K.), a game developer, announced investments worth ~USD 30 million over the next five years to expand in the Indian market. Also, Hangzhou, the capital of China’s Zhejiang province, announced plans to construct around 14 e-sports facilities before 2022 and invest nearly $2.22 billion.
Amidst the COVID-19 pandemic, government restrictions and local lockdowns worldwide have boosted user engagement with video games and e-sport. The increased time spent at home during the pandemic boosted interest in streaming across the globe, thus, resulting in high revenue and attentiveness to e-sports from major media companies. According to the Newzoo (Netherlands), between 2019–2020, the number of people watching live game streams grew by approximately 11.7% globally.
Key Findings in the Global Live Streaming Market Study:
The services segment to dominate the overall live streaming market through 2028
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 surging demand for video production, advertising, customer support, content creation services, and subscription services, rising demand for ensuring seamless delivery of content, and growing need for professional post-production support to help deliver content based on client specifications & provide a personalized experience to viewers.
The video streaming segment to dominate the overall live streaming market through 2028
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 rising customer online data consumption and surfing behavior, growing adoption of cloud-based solutions, increasing use of influencers to drive new applications and attract new customers for branding and marketing, and growing popularity of social media platforms and other digital mediums.
Asia-Pacific: The Largest Market
The Asia-Pacific region is estimated to command the largest share and fastest CAGR of the overall live streaming market in 2021, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The is mainly 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, surging adoption of live-streaming platforms for better brand engagement and reach to consumers, increasing consumer base for live streaming content in industry verticals, and increasing adoption of smartphones coupled with high internet penetration.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the live streaming market over the last few years. The key players profiled in the global live streaming market include 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.
Scope of the Report :
Live Streaming Market, by Component
- Platforms
- Streaming Services
- Video Production & 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 & Gaming Industry
- Government
- Fitness Industry
- Religious Organizations
- Others
Live Streaming Market, by Geography:
- North America
- 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
Key questions answered in the report: