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At 29.3%% CAGR, Live Streaming Market Size [2021-2030] to Reach USD 534.37 Billion
By: Market Research Future Report
The global live streaming market is expected to reach USD 247,275 million by 2027, registering a CAGR of 28.1% during the forecast period (2020–2027)
Video content streamed online attracts potential customers. As reported, more than 67% of online video streaming consumers are expected to purchase advertised products and services soon after the conclusion of a live video. Also, marketing campaigns from various organizations reported a 79% genuine conversation with potential customers. Marketers are largely focused on videos that are precise and descriptive enough to present the product offerings and explain their benefits. Also, companies are using vloggers for their promotional campaigns and video interviews with their satisfied customers to engage prospective buyers through live video content. With over 95.6% of Internet users in the United States at the end of 2017, about 85% viewed online video content on devices, including smartphones, and laptops, OTT platforms, and so on. Furthermore, consumer brands are focusing on the age group of 25-34, preferably males who tend to watch more video content as compared to the female population. The conversion rate for sales is stronger than other modes of promotion. However, the numbers are increasing exponentially after the outbreak of COVID-19 and are expected to continue growing during the forecast period.
The key players of the global live streaming market are Flux Broadcast (UK), Huya, Inc. (China), EventStreaming.TV (UK), Periscope (UK), Microsoft Corporation (US), Vimeo (US), AfreecaTV Co., Ltd. (South Korea), IBM Corporation (US), Dacast (US), Instagram, Inc.(US), Empire Video Productions, LLC (US), Streaming.hr (Croatia), Twitch Interactive, Inc. (US), Facebook, Inc. (US), Google, Inc. (US), and Amazon.com, Inc. (US).
Based on region, the global live streaming market is divided into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America stands second after the Asia-Pacific region in the global live streaming market. The strong Internet connectivity networks, either through broadband or mobile network services and the availability of numerous live streaming platforms in the region is accelerating the growth of the live streaming market. The preference for live video streaming over the other segments is increasing year on year. Over 44% of the population reported watching fewer television channels since the introduction of live streaming platforms. Furthermore, 86% of the viewers preferred live streaming sports events than any other content streamed in the United States. North America is expected to record a CAGR of 26.7% and reach USD 70918.5 million by the end of 2027.
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Market Research Future Report