Live Streaming Platform Market Size, Share, Growth, and Industry Analysis, By Type (B2B and B2C), By Application (Music, Dancing, talk show, Outdoor Activities, Sports, and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 15 April 2024

Live Streaming Platform Market Report Overview

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The global live streaming platform market size was USD 38310 million in 2021 and is projected to touch USD 231485.35 million by 2031, at a CAGR of 19.5% during the forecast period.

The live streaming platform market is anticipated to grow as a result of factors including the growing consumer preference for live streaming over social media posts, the popularity of e-sports and video games, the growing popularity of live streaming technology, and the rising adoption of smartphones combined with faster internet. The expanding demand for network bandwidth optimization and a larger audience for live streaming content both support market expansion. Additionally, a recent development in the live streaming business is the adoption of cutting-edge technologies in the digital media sector.

COVID-19 Impact: Lockdown Restrictions to Foster Market Growth 

The global COVID-19 pandemic has been unprecedented and staggering, with live streaming experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

People started using live streaming more frequently when the COVID-19 interrupted their working lives, especially in developing nations. Live video technology became a need as a result of the pandemic. Now, it is essential to the provision of healthcare, business continuity, public safety, and mental wellness. Live streaming was employed during the pandemic in a number of ways as a workaround for isolation protocols. Due to widespread orders to stay at home, religious services, virtual gatherings, and state-wide town halls were all broadcast online.

LATEST TRENDS

"Increasing Use of Mobile Internet to Bolster Market Growth"

In lower-middle-income economies, which account for around three-quarters of the connected population, mobile internet use is progressively increasing year over year. Additionally, more data-intensive internet activities like video calling, live music streaming, and watching online live videos have become increasingly common, according to a poll in lower-middle income economies. In addition, rising investments in network improvements and extending 3G, 4G, and 5G coverage in a few areas, together with rising demand for real-time video services, are all anticipated to promote market expansion within the anticipated timeframe.

Live Streaming Platform Market Segmentation

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• By Type

Based on type; the market is divided into B2B and B2C.

• By Application

Based on application; the market is divided into Music, Dancing, talk show, Outdoor Activities, Sports, and Others. 

DRIVING FACTORS

"Increasing Popularity of Live Streaming to Foster Market Growth "

Since most people prefer watching live video to reading blogs or social media posts, live streaming draws larger viewers. Lockdowns were imposed in numerous nations because to the COVID-19 outbreak. As a result, a number of events and television programmes were postponed, which greatly increased the amount of live streaming activity worldwide. Numerous OTT sites, like as Twitch, Facebook gaming, and YouTube, saw a sharp increase in live viewership worldwide, particularly in April. Users' increasing video streaming habits across all industries fuel market expansion. Additionally, the market is expanding due to the increased demand for greater brand interaction and reach through live videos.

"Increasing Demand from Education Industry to Boost Market Growth"

Videos can be used efficiently in webinars and courses in the academic and educational industry to improve teaching and learning procedures. Students' capacity to remember knowledge is significantly impacted by visual records. As a result, colleges, universities, and other educational institutions are now producing multimedia information and disseminating it via video presentations. The widespread use of live video streaming services for educational purposes is being favourably influenced by factors like the ease with which educational video content may be accessed, the rising demand for mobile devices, and the expansion of internet accessibility.

RESTRAINING FACTORS

"False Traffic to Affect Market Expansion"

False traffic on live streaming websites, however, is posing fresh difficulties for the expansion of the business as a whole. Additionally, connection and production problems may to some extent limit this market's growth in the years to come.

Live Streaming Platform Market Regional Insights

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"Infrastructural Development to Foster Growth in North America"

Asia Pacific is expected to have the largest live streaming platform market share. Due to its large user base, the Asia Pacific region now controls the worldwide live streaming platform market. Additionally, the industry is growing due to the development of live video streaming services and the growing consumer preference for live streaming over traditional television channels.

On the worldwide market, North America has seized the second-largest stake. Growing live video streaming and significant spending on gaming and entertainment support regional market expansion. The sizeable viewership base and robust demand for OTT platform products further fuel market expansion in the area and accelerate live streaming platform market growth.

KEY INDUSTRY PLAYERS

"Prominent Companies in the Industry to Encourage Market Expansion "

The study offers a thorough overview of the analysis of the main underground facilities maintenance market elements, including sales growth, pricing analysis, and shifting regional market growth drivers, in addition to sales value, sales volume, market revenue, and demand size. The research discusses the market participants and their unique roles within the sector. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information about producers, locations, types, applications, sales channels, and distributors is included in the study on materials.

List of Market Players Profiled

• Kuaishou (China)
• YY (China)
• Twitch (U.S.)
• Tencent Music Entertainment (TME) (China)
• Momo (U.S.)
• Douyu (China)
• ByteDance (China)
• YouTube (U.S.)
• Inke (China)
• Huajiao (China)
• Twitter (Periscope) (U.S.)
• Brightcove (Ooyala)
• Uplive (Dubai)

REPORT COVERAGE 

The report helps in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns and so on. Includes a chapter on the impact of covid-19 pandemic on the market. The data is further compiled & validated through various market estimation & data validation methodologies. The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The report also provides information about the top-winning strategies implemented by industry players.