Sunday, June 23

Live Stream Market Could Touch $245 Billion By 2027

PALM BEACH, Fla., 04/09/2021– Live Streaming markets actually fared well recently due to the global pandemic and gained precedence in light of emerging social media platforms and affordable data consumption plans.

Live streaming software allows users to present a live feed of events. It has been recently been used by social media influencers for gaining followers and debate on interesting topics. According to a recent report from Market Research Future (MRFR), the global live streaming market can expand to USD 247,275 million by 2027. 

The report included few very important points that we mentioned below,

The market is deemed to expand owing to the emergence of various social media platforms providing voice to opinions and commentaries on various interests. This is attributed to public figures, celebrities, and government agencies using the software for reaching the masses.

The growing popularity of online gaming and esports tournaments is evidence of the large potential of the industry. The monetization of the content using live streaming sites by channel owners can drive its use over the forecast period.

The establishment of podcasts and preference of ad-supported live streaming casts will be beneficial for the market in the long run. The increasing net-savvy populace, rapid urbanization, and availability of affordable broadband plans can facilitate the live streaming industry.

But the rise of data attribution manipulation for gaining fake clicks and engagement boosts can deter the market growth. Efforts for controlling malicious narratives and fake internet traffic can be lucrative for live streaming developers over the forecast period.  Major end-users of the live streaming market include government, education, media & entertainment, events, esports, retail, and others.

The media & entertainment segment is estimated to exhibit 28.3% CAGR over the forecast period. This is attributed to the consumption of celebrity news and movie updates by customers.

Engagement of audiences seems to be the top priority of channel owners and increasing their customer base.

On the other hand, the esports vertical is likely to generate huge revenues for the global live streaming market. This is attributed to rise of gaming communities and launch of MMORPGs by game developers. Establishment of eSport tournaments and live streaming of events coupled with sponsorship deals can bolster the segment’s rise in the coming years.”