Live Streaming Market to be dominated by Asia Pacific

The global live streaming market is expected to reach USD 534.37 billion by 2030, expanding at a 29.3% CAGR over the forecast period. The growth of the live streaming market can be attributed to an increase in live videos or live streaming activities by the middle of 2015. The primary source of live video content is social platforms, and TV is the most common type of live video content accessed. Brands and public figures began actively engaging with their target audiences via online platforms such as YouTube, Instagram, and Facebook.

Furthermore, as the popularity of eSports and video games grew across all age groups, live video game broadcasting gained traction. In one of its 2018 reports, the Interactive Advertising Bureau (IAB) stated that more than 67% of consumers globally had streamed live video content, and more than 52% of the that group favoured free, ad-supported live streaming over subscription-based and à la carte services.

COVID-19 boosted live streaming market

Live streaming attracts more viewers because most people prefer watching live video to reading a blog or social media posts. Countries around the world were put on lockdown as a result of the spread of COVID-19. As a result, numerous events and shows were cancelled, resulting in a significant increase in live streaming access to foreign. Various OTT platforms, including Twitch, Facebook gaming, and YouTube, saw a massive increase in live viewership globally, particularly in April.

Emerging markets around the world offer untapped opportunities for live video content consumption. The emergence of a live streaming platform that allows potential buyers to connect and interact in real-time to buy and sell the hottest collectibles and items they desire presents significant growth opportunities. To capitalise on live streaming's early success, live-streaming platforms and marketplaces are reaching out to collectible and enthusiast communities in developing regions.

The live streaming market is segmented into end-user, component, and region. Based on components, the market is segmented into platforms and services. By end-users, the market is segmented into eSports, media & entertainment, education, events, government, retail, and others. Based on region, the market is segmented into Americas, Europe, Asia Pacific, and Rest-of-the-World.

With a large user base, the Asia Pacific region currently dominates the global live streaming market. Rising digital innovation adoption and Internet penetration in emerging economies such as China, Malaysia, Singapore, and India accelerate regional market growth. The APAC live streaming market was worth USD 8,882.9 million in 2018, and it is expected to grow to USD 93,445.2 million by 2027, at a 30.6% CAGR.

North America now holds the second-largest share of the global market. Rising live video streaming and significant spending on gaming and entertainment fuel regional market growth. The large number of viewers and high demand for OTT transform the way also drive market expansion in the region. Additionally, the rising demand and inclination towards cloud services are driving collaborations between companies as well as government network are boosting live streaming market in the region.

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