Live Streaming Market Size, Share, Development Status, Industry Statistics, Emerging Trends, Global Forecast to 2027
Market Highlights
Global live
streaming market is projected to reach USD 247,275 Million by 2027, growing
continually at 28.1% CAGR throughout the forecast period.
The live
streaming market growth can be attributed to live videos or live streaming
activities that have significantly increased by the mid of 2015. Social
platforms are the key source of live video content, and TV is the most popular
type of live video content accessed. Brands and public figures started actively
interacting with their intended audience through online platforms like YouTube,
Instagram, and Facebook.
Besides, with
the growing popularity of eSports and video games increased among all age
groups, live video game streaming gained further momentum. The Interactive
Advertising Bureau (IAB), in one of its reports in 2018, stated that more than
67% of consumers globally had streamed live video content, and over 52% of that
group preferred free, ad-supported live streaming over subscription-based and à
la carte services.
Additionally,
around 47% of consumers globally have reported having increased their live
streaming time since 2019. Resultantly, the global live streaming market is
growing continually at a rapid pace. Moreover, the expanding population and the
escalating urbanization rate across emerging regions positively impact market
growth. Furthermore, the rapid economic growth is providing impetus to the
growth of the market over the past couple of years.
COVID-19
Analysis
The COVID-19
outbreak has positively impacted the live streaming industry. The full/partial
lockdown imposed worldwide to control the spread of coronavirus increased live
streaming activities by almost 50% compared to the pre-COVID period. In April
2020 alone, several live streaming platforms witnessed a significant increase
in viewership.
The coronavirus
lockdown caused huge revenue losses across the industries and closed down
several manufacturing facilities across the globe, putting a brake on
production, but live video streaming activities have spiked further.
Analyzing the
trend during the COVID-19 crisis, when people are still maintaining social
distancing and avoiding public gatherings, it is seen that live streaming has
increasingly become the preferred option for concerts and other big events.
This scenario is estimated to increase the growth rate of the market during the
forecast period (2020 – 2027).
Market
Dynamics
Drivers
Rising
Preference for Live Streaming over Social Posts to Bolster Growth
Live streaming
attracts more audiences as most people prefer to watch live video over reading
a blog or social posts. Due to the spread of COVID-19, countries across the
globe went under lockdown. Resultantly, various events and shows got canceled,
leading to a significant rise in live streaming activity worldwide. Especially
in April, various OTT platforms, including Twitch, Facebook gaming, and
YouTube, witnessed a massive growth in live viewership globally.
Rising video
streaming activities by users across verticals drive market growth. Besides,
the growing need for greater brand engagement and reach through live videos
boosts the growth of the market. Moreover, the growing viewership of OTT
platforms and live streaming content, alongside the increasing numbers of
Internet and smartphone users, are the other factors expected to influence the
market growth.
Opportunities
Emerging
Nations to Present Robust Opportunities
Emerging markets
across the globe present untapped opportunities for the consumption of live
video content. The emergence of the live streaming platform that enables
potential buyers to connect and interact in real-time to buy and sell the
hottest collectibles & items they want offers significant growth
opportunities. Live-streaming platforms and marketplaces are tapping into the
collectible and enthusiast communities in developing regions to position themselves
to capitalize on live streaming's early success.
Restraints
& Challenges
Fake
traffic on live-streaming sites Challenges Players
Live-streaming
e-commerce is experiencing explosive growth, helping the retail sector
worldwide to recover from the coronavirus impact. However, there is widespread
malpractice of purchasing fake traffic to boost viewer counts. Fake traffic is
a widely known issue that affects the live-streaming sector and the whole
internet industry worldwide. It is proliferating across global social media
platforms.
Cumulative
Growth Analysis
Market
Share to Expand at a Strong Rate
MRFR evaluates
that the live streaming market's growth rate between 2020 and 2027(analysis
period) could be 28.1% in view of the escalating use of several over-the-top
platforms. Additionally, increasing implementation of IT security &
cloud-based solutions, alongside the rapid digitization worldwide, are some of
the key factors providing impetus to the market growth commutatively.
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Segmentation:
The live
streaming market is segmented into component, end-user, and region. Key
components of live streaming include platforms and services. By end-users, the
market is segmented into media & entertainment, eSports, events, education,
retail, government, others. Based on region, the market is segmented into
Americas (US, Canada, Mexico, Rest-of-North America), Europe (Germany, UK,
France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South
Korea, and Rest-of-APAC), and Rest-of-the-World.
Media
& Entertainment to be the Top End-User Industry
By
end-user, media & entertainment is the largest segment. The segment media
& entertainment covers film production, news broadcasting companies, 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. In 2018, the
segment accounted for around 34.3% share of the overall market. The media &
entertainment segment is projected to grow at 28.3% CAGR throughout the
forecast period.
Regional
Analysis
The
Asia Pacific Market to Maintain its Winning Streak
The Asia Pacific
region is currently dominating the global live streaming market, led by a vast
user base. Besides, the proliferation of live video-streaming services and the
rising consumer preference for live streaming over conventional television
channels drive the market growth.
Moreover, the
rising adoption of digital innovation, increasing Internet penetration in
emerging economies such as China, Malaysia, Singapore, and India, accelerates
the regional market growth. The APAC live streaming market accounted for a
valuation of USD 8,882.9 million in 2018, which is expected to grow further to
USD 93,445.2 million by 2027, recording a 30.6% CAGR.
North
America Seizes Second Highest Share in Global Market
North America
has captured the second biggest share in the global market. Rising live video
streaming and considerable spending on gaming and entertainment foster the
growth of the regional market. The extensive pool of viewers and strong demand
for OTT platform products also induce market expansion in the region escalate
the market growth. Additionally, the rising adoption of cloud-based services
and increasing collaborations between government and network companies boost
the live streaming market size in the region.
Large scale
investments by network and broadcasting companies towards outsourcing video
streaming solutions and services contribute to the growth of the regional
market. Furthermore, technical advances and the proliferation of the internet,
mobiles, tablets, and other smart devices propel regional market
growth.
Competitive
Landscape
Players
Focus on M&A Activities and R&D Investments to Gain Impetus
The live
streaming market is led by a number of global, regional, and local service
providers, churning the competition to maintain their market positions. The
service providers compete based on content quality, cost, efficiency, security,
and reliability to sustain in the market. Moreover, intense competition and
rapid technological advances to cope with security concerns are key factors
that aid market growth.
Amazon Prime
Video/Prime Video is one of the key market players. Based in America, Amazon
Prime offers subscription-based, on-demand over-the-top (OTT) video streaming
and rental service of Amazon.com, Inc as a standalone service or as part of
Amazon's Prime subscription. The service primarily distributes films and
television series produced by Amazon Studios or licensed to Amazon, as Prime Originals/
Amazon Originals or Exclusives. It also hosts content from other providers,
content add-ons, live sporting events, and video rental and purchasing
services.
List of
Key Companies Covered in this Report
The Key Players
of the Global Live Streaming Market are Flux Broadcast (UK), Dacast (US), Huya,
Inc. (China), Periscope (UK), EventStreaming.TV (UK), Microsoft Corporation
(US), Google, Inc. (US), Facebook, Inc. (US), Twitch Interactive, Inc. (US),
AfreecaTV Co., Ltd. (South Korea), Vimeo (US), IBM Corporation (US), Empire
Video Productions, LLC (US), Instagram, Inc.(US), Streaming. Hr (Croatia), and
Amazon.com, Inc. (US), are some of the affluent contenders holding sizeable
live streaming market share.
Recent
Developments
- December 21, 2020 – Clicktivated,
which has offices in Birmingham, New York, and Chicago, launched its new
live-streaming shopping video technology. The technology company provides
a platform to access online links to buy a book, a luxury SUV, or a
kitchen cabinet via interactive videos through which one can learn about
product information, special offers, and future offerings.
The Company
started out providing pre-recorded "clickable" video technology. The
platform targets two sectors, brands that live stream videos and viewers who can
directly click on an image and shop individual products on-screen as they
continue to watch a show.
- December 15, 2020 – Scienjoy
Holding Corporation, a leading live entertainment mobile streaming
platform in China, announced its business strategies, aiming to build the
live streaming full ecosystem. The Company aims to diversify the business
in the full spectrum of the live streaming full ecosystem, including both
upstream and downstream.
The Live
Streaming Full Ecosystem is a strategic layout of the Company's in-depth mobile
live streaming market, covering brand new Entertainment, E-commerce, and
Multi-Channel Network (MCN) sectors.
- December 15, 2020 – Whatnot
(the US), a live-stream shopping platform and marketplace for collectors
and enthusiasts, announced that it has raised USD 4 MN seed funding. The
Company plans to use these funds to increase the team, scale up its
operations, and expand into new categories, including video games,
designer toys, comics books, and vintage fashion.
Report
Overview
Scope
of the Report
Scope of the
report covers extensive details of the live streaming industry, with respect to
type, end-user, and region. Major trends in the live streaming market have also
been studied, focusing on their impact on the growth rate during the forecast
period. The live streaming market growth rate, along with drivers,
opportunities, and challenges, has also been highlighted in the MRFR
report.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/live-streaming-market-10134
Global Live Streaming Market Research Report: By
Component (Platforms and Services), By End-User (Media & Entertainment,
Esports, Events, Education, Retail, Government and Others) - Forecast till 2027
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