Global live game streaming will grow at a compound annual growth rate [CAGR]of over 19% during the forecast period 2019-2025, according to Research and Markets (www.researchandmarkets.com).
The global gaming industry is experiencing a steady growth and is mainly driven by cloud gaming and mobile gaming, adds the research group. With smartphones getting more processing power and 5G network gaining popularity, games are expected to be more interactive and streaming-based. Countries that generated a major part of the revenue in the gaming industry include China, Japan, US, Germany, South Korea, France, Canada, and UK. Also, Esports is gaining huge attention with the events being telecasted on social media and streaming sites including YouTube and Twitch.
Research and Markets says the live game streaming market involves streaming video game content via the internet that includes live game play or pre-recorded game plays. Websites that provide live game streaming such as YouTube Gaming and Twitch are called game streaming platforms that provide free view content and paid subscriptions to view premium content. Game streaming platform generates revenue primarily through merchandising, advertisements, and premium account subscriptions.
Live game streaming market will exhibit strong growth during the forecast period mainly due to an increasing number of revenue streams and the growing popularity of Esports and broadcasting of Esports events, according to Research and Markets. Esports market is expected to cross $1 billion by the end of 2019 with major competitions occurring in games like Dota 2, Fortnite, and League of Legend.
Live game streaming vendors are expanding their revenue-generating streams from traditional sources such as advertisement, subscriptions, sales of badges, and contributions to innovative and unexplored territories including betting that can help the vendors to gain more margin in the gaming market, concludes Research and Markets.