The global live
streaming market is witnessing significant growth during the forecasted period,
owing to the increasing number of smartphone users in different countries.
Moreover, the rising penetration of internet through a fast broadband
connection and the growing connectivity without any physical presence is
driving the global live streaming market demand.
As per the data provided
by Data Report, there are approximately 5.31 billion smartphone users, which is
about 67.1% of the total global population. Moreover, there are about 4.95
billion internet users with 4.62 billion active social media users. Thus, the
rise in the increasing number of smartphone users and internet, is
significantly boosting the demand for live streaming in several countries.
Live streaming is a
social media tool that allows businesses and consumers to post unedited, live videos
in real-time on websites such as Facebook and Instagram. Live streaming can
teach an online lesson, launch and market new goods and services, and share
important company news. Through live streaming, brands can connect with and
engage with millions of people worldwide.
Live streams can help brands and influencers
reach a large audience base on social media platforms and are more similar to
crowd-pullers. These live broadcasts allow viewers to witness the event in its
authentic setting, which obtains additional interest.
Previously due to
lockdown, this video format has also become an essential component of brand
social media marketing. People now prefer to watch live sessions online from
the comfort of their homes, instead of going on outings. Brands now have the
chance to experiment with their content strategy. Nowadays, brands engage
experts and influencers for live video since it improves the quality of the
content and attracts more viewers. Moreover, live streaming is being utilized
for various ranges, including tutorials and Q&A sessions.
Expansion of E-Sports
and Video Games Propelling the Market's Expansion
The main factors
anticipated to drive the growth of the live streaming market during the
forecast period include the rising popularity of video games, increasing
awareness of eSports among children, large-scale investments, and adoption of
advanced gaming technologies, thanks to the growing number of gamers. There
have been around 22,987 e-sports players in the United States, with a 29.6
million monthly viewership in 2022. Thus, with the increase in players,
tournaments, and viewership, the live streaming market is expected to grow
significantly in the forecasted years.
Rising Broadband
Penetration is Driving the Market Growth
As per the data provided
by Organization for Economic Co-operation and Development (OECD), in the
year December 2021, fiber subscriptions
grew by 18.6%, surpassing cable, which currently accounts for 32.4% of fixed
broadband connections in OECD countries. Moreover, according to the report “US Telecom
Industry Metrics & Trends 2020,” around 85% of households in the United
States have a fixed broadband connection. Thus, the increasing penetration of
broadband connections in different countries that provide high-speed internet,
will significantly drive the live streaming market in other countries.