Live Streaming Market Overview:
The growing use of smartphones as well as the introduction of VOLTE and 5G networks has driven the growth of the Global Live Streaming Market. Livestreaming refers to the process of simultaneous recording and broadcasting in real-time. Livestream services provide live streaming on various platforms. Also, social media platforms like Facebook and Instagram provide live streaming options.
Live streaming technology is helpful in creating brand awareness and attracting consumers. The rising popularity of video games and e-sports have helped develop the Global Live Streaming Market.
Recent research on Global Live Streaming shows that the market has undergone a remarkable development in the past few years and it will grow significantly in the projected period of 2022-2029.
Impact of Covid 19 on the Market
Covid 19 Pandemic has adversely impacted the global market scenario but in the case of the Global Live Streaming Industry, the situation is a bit different. Nowadays, live streaming is not only used for amusement but it has become a necessity during the pandemic lockdowns when there were restrictions on travel and physical meetings.
Many live streaming platforms were used by people all over the world as mediums of communication during the pandemic like Google meeting and Hangouts, Zoom meeting, Skype, FaceTime, Cisco WebEx and others.
The Global Live Streaming Market revenue is anticipated to reach USD 534.37 billion with a CAGR of 29.3% within the projected period.
The Global Live Streaming Technology is segmented depending on component, streaming type, offering model, application and region.
Based on the component, the market is divided into platform and services that have further sub-divisions. Smartphones and tablets help in live streaming through high-speed internet. Smart TVs also help in livestreaming with video streaming services like Netflix and Amazon prime. On the basis of end use, the market is divided into media, entertainment, communication, video streaming and many more. Video streaming segment dominates the market revenue.
Based on region, the market North America, Asia Pacific, Europe, South America, Middle East and Africa.
North America holds the largest Global Live Streaming Market share and is expected to witness steady growth in the market during the projected period. And the Asia Pacific will be the fastest growing market and will occupy a significant share of the Global Live Streaming Technology during the projected period.
The Global Live Streaming Market is highly competitive, and many key players dominate the global market. Some of the major market players are Google LLC; Kaltura, Inc.; Netflix, Inc.; Akamai Technologies; Amazon Web Services, Inc.; Apple Inc.; Cisco Systems, Inc.; International Business Machine Corporation (IBM Cloud Video) and Wowza Media Systems.
The growing use of smartphones and tablets with fast internet connections has helped the Global Live Streaming Market to flourish. And the market will find more growth in the projected period as now it is a necessity for regular communication and media. Also, the presence of key players all over the world will help in the development of the market.
These players concentrate on launching new products, engaging with consumers, entering new markets, and entering into strategic mergers and contracts to maintain their stronghold over the market.