Live Streaming Market to Grow at a CAGR of 16.14%| Evaluates reports

Bangalore, India, November 23, 2022 /PRNewswire/ — live streaming market is segmented by type (B2B, B2C), by application (music, dance and talk shows, gaming, dating shows, outdoor activities and sports, other): Opportunity Analysis and Industry Forecast, 2022-2028. It is published in Evaluates reports under the online media Category.

live streaming market was appreciated 38310 million USD in 2021 and is expected to grow at a CAGR of 16.14% between 2022 and 2028.

Key factors behind the growth of the live streaming market

The live streaming market is expected to evolve due to the rising popularity of e-sports and video games, the growing preference for live streaming over social media posts, and the increasing use of smartphones combined with faster internet. Additionally, a recent development in the live streaming market is the introduction of cutting-edge technologies in the digital media space.

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The global live streaming gaming audience is set to keep growing during the forecast period as it allows people to follow the action as it happens. Social live streaming has emerged as one of the most engaging communities in recent years, enabling live content production and instant engagement. It was inspired by the technical advances of the hypermodern era. Live streaming of video games is therefore expected to create a new and unprecedented upsurge in the digital landscape, especially with the emergence of online platforms such as Twitch.TV, YouTube Gaming, Facebook Gaming, etc. that enable the distribution and consumption of video games content in real time.

Additionally, during the pandemic, more time was being spent at home and social isolation became necessary, sparking interest in streaming across the board. This view has been significantly influenced by the function of live streaming platforms as social groups where individuals can spend time together in a time of greater isolation. Just because a video is shorter doesn’t entice social media users to watch it. You want interesting and amusing live videos. This factor is expected to drive the live streaming market.

The way brands communicate with their customers is changing with live video marketing and live streaming. A live video catches and grabs viewers’ interest immediately as it is more real and instantaneous. The consumer experience is being drastically changed by live shopping. Brands can partner with influencers directing their loyal audience to explore, rate and buy products during a single live session. This factor is expected to further boost the growth of the live streaming market.

Traditional radio stations are quickly being replaced by live-streamed DJ sets and musical performances. The pandemic spurred online concerts, leading to an explosion in live music streaming. The popularity of live streaming performances will increase in 2022 as viewers enjoy the up close, high quality experience they offer.

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North America is expected to be the most lucrative region. The expansion of the live streaming market in the region would be further supported by an increase in live video streaming and significant spending on gaming and entertainment throughout the forecast period.

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