Users prefer online videos over traditional means of watching video content, and most organizations are increasing their expenditure on online video commercials, which is propelling the online video platform in media and entertainment forward
Covid-19 Impact & Market Status
Most people prefer watching live videos over reading a blog or social updates, therefore live streaming gets a larger audience. Countries all across the world have been placed on lockdown as a result of the outbreak of COVID-19. As a result, a number of events and concerts were cancelled, resulting in a significant rise in global live streaming activity. OTT platforms such as Twitch, Facebook gaming, and YouTube saw a tremendous increase in live viewership internationally, especially in April.
Users' increased video streaming activities across verticals are driving market expansion. The market's growth is fueled by the increased demand for greater brand interaction and reach through live videos.
The impact on upstream, downstream, and midstream businesses has been devastating since the start of the global crisis. The study provides a ready-to-use strategy for dealing with such crises and guiding the worldwide live streaming video platform market toward sustainable growth and orderly advancement.
Inquisitive business operators will find adequate business transformation suggestions in this study, which are critical to maintaining strong rivalry in the pandemic and post-pandemic period worldwide Food traceability market.
Media & Entertainment segment is anticipated to Boom in the forecast period.
Media and entertainment will see the largest growth in the end-user segment. Film production firms, news broadcasting organizations, and event management companies that advertise their events and cover numerous national events for their target audiences are included in the media & entertainment section.
Several media and entertainment companies are using live streaming services to engage their target audiences, which is propelling the market forward. During the forecast period, the media & entertainment category is expected to increase at a 28.3 percent compound annual growth rate (CAGR).
In the near future, there will be a growing preference for live streaming over social posts, which will help to boost growth. Because most individuals prefer viewing live videos than reading blogs or checking social media in their spare time, live streaming attracts a wider audience. The availability of open-source and free internet video platforms, on the other hand, stifles growth.
The E-Sports segment is predicted to rise at a faster CAGR during the projection period
During the forecast period, the E-sports segment is expected to grow at a faster rate. In games like Dota, a live streaming platform is employed to offer gameplay while also allowing users to communicate with other members of their community. Gamers of many genres, such as action, adventure, sports, and others, have become accustomed to using live streaming sites. Users can use Live Streaming Platforms at a cheap cost or even for free, allowing anyone who wants to stream to do so using technology they already own. This helps to enhance user engagement by allowing people to create content they want without any prior knowledge. Because most people prefer viewing live videos than reading blogs or checking social media, live streaming attracts a wider audience. Countries all across the world have been placed on lockdown as a result of the outbreak of COVID-19. As a result, a number of events and concerts were cancelled, resulting in a significant rise in global live streaming activity.
The APAC Region is Expected to Hold the Largest Market Share
Due to its high population density, the Asia Pacific (APAC) region is predicted to be the fastest-growing market. With a large user base, the Asia Pacific region now dominates the worldwide live streaming business. The industry is being driven by the proliferation of live video-streaming services and the increased customer preference for live streaming over traditional television channels. The rising Internet penetration and adoption of digital innovation in emerging economies like China, Malaysia, Singapore, and India has accelerated regional market growth. The APAC live streaming market was worth USD 8,882.9 million in 2018, and is expected to increase at a 30.6 percent compound yearly growth rate to USD 93,445.2 million by 2027.
During the projected period, the North American market is predicted to increase significantly. Increased live video streaming and considerable expenditure on gaming and entertainment are driving growth in the regional industry. The region's market rise is further aided by a huge number of viewers and strong demand for OTT platform goods. The growing use of cloud-based technologies and enhanced collaboration between government and network providers are boosting the region's live streaming business. In 2020, North America had a revenue share of 39% and is predicted to increase even more. Cloud-based streaming services' rapid growth and popularity had a significant part in this. The European region accounted for a considerable portion of the market. It is predicted to develop steadily due to the large number of people who view internet material. This is owing to an increase in the use of smartphones and tablets, as well as rapid technology improvements and the popularity of internet streaming.
The growth of the regional market is encouraged by large-scale investments in outsourced video streaming solutions and services by network and broadcasting companies. Furthermore, technical improvements and the spread of the internet, tablets, mobile phones, and other smart gadgets are fueling regional market expansion.
New innovative technology such as artificial intelligence, blockchain technology, and cloud-based solutions in video quality is driving the market forward and is expected to grow exponentially.
Streaming is a data transfer mechanism used when someone watches a video on the internet. Live streaming is defined as the transmission of a streaming video over the internet in real-time without being stored or preserved. It allows people to watch, produce, and share real-time videos. On social networking and other platforms, everything from celebrity events, marketing, and live streaming to user-to-user streaming is streamed. With a suitably fast internet connection, any compatible smartphone, tablet, TV, computer, or game console can live stream.
The growing use of cloud-based technologies to extend the reach of live video content is propelling the business forward. Because of the increased usage of digital media across a variety of business verticals, the general public has developed a desire for different live streaming solutions and services. These elements are propelling the market forward.
Children and teenagers, particularly those in primary school, find live streaming appealing. It allows individuals to express themselves as creators, presenters, and speakers in front of an audience, as well as connect with their favorite celebrities. These reasons are also increasing the market's need for live streaming. Market growth is expected to be fueled by the growing gaming community and game creators' acceptance of live streaming. Over the forecast period, live broadcasting of events, as well as the formation and sponsorship of E-sports tournaments, are likely to fuel market expansion.
New innovative technology such as blockchain technology and artificial intelligence in video quality, are some factors that can drive the market forward. Editing, voice-overs, scriptwriting, and a variety of other components of video production and product uploading all rely on Artificial Intelligence. To improve the quality of video material, AI is employed as a video streaming solution. As a result of significant consumer usage, platforms like YouTube and Netflix have exploded in popularity in recent years. Future growth is likely to be fueled by the increased adoption of mobile phones as a result of the growing popularity of social media platforms for marketing and branding. The market is growing because to the increased usage of cloud-based solutions to extend the reach of video content. This tendency is most noticeable in North America and Europe, and continued innovations and technological improvements are projected to match users' increased expectations for excellent quality, performance, and security growth.
In recent years, the Live Streaming Video Platform Market has been expanding at a steady rate. The market for live streaming video platforms is projected to increase at a CAGR of 27.5 percent from 2021 to 2028.
COVID-19's pandemic has caused a global economic slump. On the other side, it has provided the worldwide online video platform industry with great development potential. Following the implementation of nationwide lockdowns, the demand for high-quality video content via digital devices skyrocketed. As a result, demand for online video platforms increased dramatically, propelling the total market forward. The demand for academic information from the student audience, as well as the usage of online videos by corporations to teach their personnel, are two important factors driving the rise of these platforms.
Furthermore, the increased demand for better brand interaction and reach via live videos fuels the expansion. The rising popularity of live streaming content and OTT platforms, as well as the growing number of Internet and smartphone users, are all contributing to the market's growth. The availability of open-source and free internet video platforms, on the other hand, stifles growth.
Some of the key players in the market are ByteDance, YouTuve, Tencent Music Entertainment, Facebook, Snapchat, Twitter, Uplive, Twitch, Kuaishou, Vimeo, IBM Cloud Video, Innke
This market will develop as the number of people using live streaming platforms grows. The rising popularity of social media platforms will boost this market's growth. The worldwide live streaming platform market is also being driven by growing internet penetration and an increasing number of smartphones. Users will see the in this market if they use the live streaming platform. An increase in this industry has also been attributed to the increased demand for enhanced and new technology. Government support for investments in items such as digital signage, audio-visual equipment, software licencing, and other products that help improve the experience of utilizing these platforms is likely to drive the global Live Streaming Platform Market even higher.
Latest Innovation in the Live Streaming Video Market: A snapshot
- Airtel IQ Video, a video platform as a service that allows businesses to develop video streaming solutions for both large and small screens, was introduced by Bharti Airtel, one of India's leading telecom providers, in October 2021.
- Velocix Analytics, a cloud-native video analytics platform that delivers greater insights into streaming efficiency, audience behaviour, and experience quality, will be released in October 2021 by Velocix, a Content Delivery Network (CDN) solutions provider.
- Clicktivated, a Birmingham, Revolutionary York, and Chicago-based company, introduced its new live-streaming retail video technology in December 2020. Users may utilize the platform to access online links to buy a book, a luxury SUV, or a kitchen cabinet through interactive movies that provide product information, special offers, and future chances.
- In December 2020, Whatnot (the United States), a live-streaming shopping platform and marketplace for collectors and enthusiasts has acquired USD 4 million in preliminary funding. The revenue will be used to expand the company's personnel, scale up operations, and enter new markets, such as video games, designer toys, comic books, and vintage fashion.
Live Streaming Video Market Scope
|Forecast Unit||Value (USD)|
|Growth Rate||CAGR of 27.5% during 2021-2028|
|Segment Covered||Type, Application, End- User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa|
|Key Players Profiled||ByteDance, YouTuve, Tencent Music Entertainment, Facebook, Snapchat, Twitter, Uplive, Twitch, Kuaishou, Vimeo, IBM Cloud Video, Innke|
Key Segments of the Live Streaming Video Platform Market
- Market Type Overview, 2018-2028 (USD Million)
- Video Hosting Management
- Video Analytics
- Video Content
- Live Streaming
- Mobile Video
- Market by Application Overview, 2018-2028 (USD Million)
- Commercial Video Platforms
- Academic and education
- Video Sharing
- End- User Overview 2018-2028 (USD Million)
- Brand and Enterprises
- Media and Entertainment
- Content Creator
- Regional Overview, 2018-2028 (USD Million)
- North America
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa