The global gaming industry is in a state of continuous growth, largely propelled by cloud gaming and mobile gaming. The advent of more powerful smartphones and the widespread adoption of 5G networks are poised to transform games into more interactive and streaming-based experiences. Several countries, including China, Japan, the US, Germany, South Korea, France, Canada, and the UK, significantly contribute to the industry’s revenue. Notably, Esports has garnered substantial attention, with events being broadcasted on social media and streaming platforms like YouTube and Twitch.
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The live game streaming market is a subset of the gaming industry that involves streaming video game content over the internet, encompassing live gameplay and pre-recorded sessions. Platforms like YouTube Gaming and Twitch are considered game streaming platforms, offering both free-view content and premium content through subscriptions. These platforms generate revenue through advertising, merchandise sales, and premium account subscriptions. This report focuses exclusively on the revenue generated by game streaming platforms and services, excluding other forms of entertainment media content streaming, such as TV series, movies, vlogs, and reviews.
Key Market Insights
- Esports and Gaming: The live game streaming market is expected to witness substantial growth, driven by the expanding number of revenue streams and the rising popularity of Esports and the broadcasting of Esports events. The Esports market is projected to exceed $1 billion by the end of 2019, with major competitions held in games like Dota 2, Fortnite, and League of Legends.
- Revenue Diversification: Live game streaming providers are diversifying their revenue sources, moving beyond traditional avenues like advertising and subscriptions. They are exploring innovative areas such as betting, which has the potential to enhance their margins in the competitive gaming market.
- Global Geographic Footprint: North America currently dominates the live game streaming market, with a substantial share of the market attributed to the US. However, the Asia Pacific region is emerging as one of the fastest-growing markets, with significant growth observed in China, South Korea, Taiwan, and Japan.
- Market Segmentation: The global live game streaming market is segmented based on offerings, solutions, revenue models, and regions. These segments include game streaming platforms, hardware, services, app-based and web-based solutions, subscription-supported and ad-supported revenue models, and North America, Europe, Asia Pacific, and Rest of the World regions.
Market Forecast
The global live game streaming market is anticipated to maintain strong growth, with a compound annual growth rate (CAGR) of over 19% during the forecast period (2019-2025). The increasing popularity of Esports, the diversification of revenue streams, and the expanding reach of game streaming platforms will be key factors driving this growth.
Conclusion
The live game streaming market presents lucrative opportunities as it evolves alongside the gaming and Esports industry. It is anticipated to remain on an upward trajectory, thanks to the growing interest in Esports events and the continuous expansion of revenue sources. The Asia Pacific region, in particular, will be a significant driver of market growth.
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