Live Streaming Market Expected to Reach $756.5 Billion by 2031
REDDING, Calif., June 10, 2024 – A recent market research report has revealed that the live streaming market is projected to be worth $756.5 billion by 2031, with a compound annual growth rate of 20.9% from 2024 to 2031.
Live streaming involves the real-time broadcasting of video or audio content over the internet, allowing viewers to watch events as they happen without the need for downloading beforehand. Viewers can engage with content creators through interactive features such as live chat, comments, and polls. The market’s growth is driven by factors like the popularity of esports and video games, increasing smartphone adoption, and internet penetration.
The market is segmented based on components, offering models, streaming types, verticals, and geography. Services make up a significant portion of the market, with the services segment projected to witness the highest growth rate. Business-to-consumer (B2C) offerings are expected to dominate the market, driven by the need for brand engagement and the integration of live-streaming platforms.
Video streaming is the largest segment within the market, followed by audio streaming and game streaming. The media & entertainment sector is the largest end user of live streaming services, with Asia-Pacific leading the global market share.
Key players in the live streaming market include Flux Broadcast, Facebook Inc., Dacast, Twitch Interactive, and IBM Corporation, among others. The report also assesses growth strategies adopted by these market participants.
In conclusion, the live streaming market is poised for significant growth, driven by technological advancements and changing consumer behavior. The increasing demand for live-streamed content across various industries presents lucrative opportunities for market players to innovate and expand their offerings.
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