Live video streaming has proven a game-changer for most online business communities. It’s interactive, exclusive, live, and, most importantly, demanding. Live streaming brings a new set of benefits that other content forms cannot deliver. However, live-streaming technology is a new strategy that brands can utilize for branding.
The global video streaming market size is predicted to grow at 17.5% CAGR between 2024 and 2026. It is forecasted to grow and reach around USD 29.7 billion in 2029, increasing from USD 13.3 billion in 2024. The primary aspects that drive the growth are the increasing penetration of smart devices and internet users, increasing the demand for VoD streaming, technological advancements, and resulting in increasing requirements for transcoding to deliver videos to more and more users.
Image: (Source)
Live streaming enables brands to stay connected with their ideal customers in real time. It makes it easier for them to offer exclusive content instead of intrusive ads, this type of video can help you take brands’ inbound marketing to a new level of success.
Live streaming technology and software enable viewers to view events through the eyes of the broadcasters. This provides a full interaction online that also without worrying about geographical boundaries. “Go Live” is one of the success mantras for most businesses these days.
Top Business Ventures Leveraging Live Streaming
The live streaming market globally is valued at around US$ 28 billion, while the total revenue is predicted to increase by 27% between 2021 and 2027, estimated to reach around US$ 156.73 Bn. The technological advancements and growing number of service providers pose a threat to the standalone streaming players in the market. These complimentary services for television and other entertainment content are threatening market growth.
Live streaming has become a critical tool or digital marketing strategy for different business verticals. This is why most businesses these days are trying to create a live-streaming website for their brand. Live streaming is the best way to take a business to new capabilities; you must invest in feature-rich video streaming software that ensures to cater to all your business needs. Let’s explore how different business sectors can benefit from live streaming.
Education
This sector uses live video to stream activities and lessons from the classroom for the students. The education industry can offer the opportunity to watch the experts and learn in real time by choosing to go live. Live streaming platforms have transformed the methodology of teaching as it’s a conducive way of learning. Many platforms come with tools that enable admin to automatically identify the requirements and preferences of students.
Health
The healthcare industry is also benefiting from live streaming. There are lots of software that makes it easier for professionals to offer patients real-time support and provide them with real-time test results. Live streaming can be beneficial, especially when it comes to conducting training sessions, executing a conference with other colleagues, and more.
Logistics
The logistics are just about on-time and safe delivery of cargo shipments. Customers want their shipments to get delivered on time and in good condition, and live streaming can help solve this issue.
Drivers can stream to show what are the issues with the shipment where there is breakage, and specialists on the other side can help fix the damages in real time. Web cameras installed make it easier for customers to know the real-time location of cargo as well as its condition.
Media and Entertainment
The dramatic growth of live streaming introduced a great shift in the latest trends in the entertainment and media industry. Now activities like watching movies, TV shows, and more have shifted from traditional TV to smart apps like Amazon Prime, Hulu, Netflix, and more.
Video and live streaming apps have transformed the viewer’s experience; innovative technology and apps have made it easier for the entertainment and media industry to connect with audiences and effectively deliver their message.
Retail Business
Most retail businesses these days are utilizing mobile apps for their business. Retailers can use live streaming solutions for increasing their business sales and also for marketing purposes. Retail businesses can use live streaming to educate remote teams, train associates, motivate distributors, engage employees, improve social engagement, etc.
Real Estate
Real Estate is one industry that can benefit the most from live streaming. They can use live streaming for auctions, communicate with customers, and more. As customers depend on visual components, live streaming can help you communicate using visual details in real-time with customers. With the right approach, live streaming can help to grow business and achieve success in a short time.
Ending Note
We live in a global world with increasing connections. Most brands are using live streaming to revolutionize their communication strategy. Besides improving communication, different brands are using live streaming to engage customers and employees. It’s found that this trend is here to stay, and failing to reap its benefits can make you lose various opportunities. Having live streaming can help you grow your business and achieve success in a short time.
About Post Author
More Stories
How to plan the best trading approach?
Top 10 Benefits of Augmented Reality You Need to Consider For your Business