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Live Streaming Market Growth Projections and Opportunities
The popularity of live videos and streaming really took off around 2015. Brands and public figures started using platforms like YouTube, Facebook, and Instagram to connect with their audiences. As millennials and Generation Z became more interested in esports and video games, live streaming of video games became a big thing, boosting the global live streaming market. In 2018, a survey found that 67% of people worldwide had watched live video content, and 52% of them preferred free, ad-supported streaming over paid services. Almost half of the respondents said they increased their live streaming compared to the previous year. Social media platforms were the main source of live video, with TV being the most popular type of content.
Then, COVID-19 happened, and with lockdowns in many places, live streaming activity shot up by almost 50% in April 2020 compared to before the pandemic. Platforms like Twitch and YouTube saw a big increase in viewership. Looking ahead, even after the pandemic, live streaming is likely to stay popular because it's a great way to organize events while maintaining social distancing. The global live streaming market is mainly controlled by a few big players like Amazon, Twitch, Vimeo, IBM Corporation, Facebook, and Google.
These companies have seen significant growth in revenue and viewership. Smaller players, such as Huya.com, Periscope, Flux Broadcast, and EventStreaming.tv, have also made a mark in their local markets. For example, Huya.com is a key player in China, offering a platform for streaming video games and esports events. Different groups use live streaming for various purposes. Esports organizers, music concert planners, and educational institutions are among the primary users. With big music concerts being streamed live in June 2020, music fans can watch on various devices. Sports events like the Bundesliga are also being completely viewed online due to lockdowns across the nation. All these factors are expected to contribute to a 28.1% compound annual growth rate in the live streaming market from 2020 to 2027.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 55.4 Billion |
| Market Size Value In 2023 | USD 71.63 Billion |
| Growth Rate | 29.30% (2023-2032) |
Live Streaming Market Highlights:
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