Asian Live Stream Market revenue to reach $71.7 billion by 2023
The live stream platforms are expected to expand their service portfolio in the popular use-cases -Sports, Gameplay, User generated content, Consent, and others.
Infoholic Research LLP, a global market research, and consulting organization, has published a study titled “Asian Live Stream Market: Drivers, Restraints, Opportunities, Trends, and Forecasts, 2017–2023” (July 2017).
According to Infoholic Research, Asian Live Stream Market is changing the manner of communication between brands and user. The live stream market in this region is at a nascent stage and some of the Asian countries are expected to upgrade to this technology only at a later stage owing to their lower internet penetration rates and poor internet speed at present. The live streaming platform is expected to become a main stream communication platform due to changing customer preferences, growing internet penetration and increased demand for Video as a services from the enterprises. Asian Live Stream Market is expected to grow at a CAGR of 46.4% during the forecast period 2017–2023.
The user types segment includes B2C users, B2B users, and P2P users. The companies offering live stream services in Asia are focusing more on B2B and B2C markets as the brands are expanding their customer base by using these modes which have maximum reach and promote transparency. The B2C user's segment is expected to grow at a higher rate during the forecast period as the companies are using live stream platforms as a tool to understand their target audience behavior and to increase their brand equity. There is an increasing trend from companies using B2B and B2C live stream platforms to post the content about product demonstration, brand communication, advertising and others.
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The major deployment modes used are Cloud, on-premises, and hybrid. The wide expansion of cloud technology in the recent years is fuelling several innovative businesses across the globe, live streaming is one such business model which has a huge growth potential in the Asian market. The wide spread of public and private cloud technologies is very popular among P2P and B2C users and on-premises and hybrid technologies are popular in the B2B user segment. Hybrid technologies are the combination of both cloud and on-premises deployment types which are idle for small business units.
The popular devices used for live streaming in Asia are PC/Laptop and Smartphone along with Tablets, smart tv, and others. Several countries in the Asian region offers higher smartphone penetration rates which meet the infrastructure need for the expansion of streaming platforms. The Asian market which is expected to be dominated by the PC/Laptop market share is expected to dominate other device types in terms of growth rate through the forecast period.
The popular use cases for the live stream platforms are sports, gameplay, user generated content, concerts, and others. Asian live stream users are streaming sports content at a faster rate and the region has experienced the entrance of several B2B and B2C sports streaming companies in the past few years and this trend will continue owing to the huge demand for sports content and low barriers to entry. However, the market has become highly competitive owing to the entrance of hundreds of budding live stream platforms aiming at sports, gameplay and concert contents.
China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam are expected to outperform in the Live Stream Market. Among these Japan, Taiwan, South Korea and China are expected to show higher market growth owing to the existence of established live stream companies operating in this region, availability of higher internet speed services and cross border live streaming platforms.
“Growth rate of the Asian Live Stream Market is more than that of the global average and the region is improving its infrastructure capabilities such as high-speed internet, the internet and smartphone penetration rates, to build the technology infrastructure and thereby attract investments in several other sectors as well.” Srujan, Research Analyst at Infoholic Research.
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The report covers the present scenario and the growth prospects of Asian Live stream market during the forecast period 2017–2023. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report is analyzed based on – User type, Deployment type, Device type, Use-case, and Countries
- The report covers the evolution of live stream, features, advantages, and its importance
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth over the forecasting years (2017–2023)
- The report contains analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape, which includes vendor assessment
- The user types analyzed in the report are B2B, B2C, and P2P users
- The report covers the several deployment types, namely: Cloud, On-premises, and Hybrid
- The report covers the several device types used for accessing live streaming platforms such as PC/Laptop and Smartphone, Tablets, Smart tv, and Others.
- The report covers analysis of countries such as China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam