Live video streaming connected TV is forecast to grow CAGR 29.30% in 2023 and reach $559.62B by 2032. The market for live video streaming is expected to grow due to an increase in demand for video-on-demand (VoD) services, as consumers spend more time in live media and entertainment spaces.
In addition, the increasing population and preference for online streaming platforms are expected to boost the market in the coming years. The rise of over-the-top (OTT) streaming platforms has resulted in a significant demand for live video streaming content.
Moreover, the launch of new OTT platforms by major broadcasting networks is also expected to contribute to market growth. Furthermore, the ability to stream live content on mobile devices through these platforms is likely to fuel market growth further.
Streaming Video Verticals
The vertical segment encompasses news, current affairs, education/e-learning, healthcare, government, live sports streaming/e-sports, gaming, enterprise and corporate, auction and bidding, fitness & lifestyle, music and entertainment, with the number of e-sport/sports audiences likely to drive market growth.
In May, the Daily Wire announced that “The Matt Walsh Show” would begin live streaming on Twitter. In less than a month, the show had 7.4 million video views 24 million impressions, and the show’s account gained 140,000 followers.
Recently rebranded, X also announced its forthcoming Smart TV app with live sports and news programming with further live stream testing in August, which will include adding support to participate in live audio Spaces from the desktop in the new app.
Twitter X video is coming soon, right?
The highly anticipated new X/Twitter TV app will join other live video-based social networks, like Twitch and TikTok, in the rapidly expanding live streaming video market on smart TVs and connected TV devices. As part of the launch, Elon Musk has announced a charity live-streamed event on X.