According to the Market Statsville Group (MSG), the global event streaming platform market size is expected to grow from USD 1,455.6 million in 2022 to USD 12,176.2 million by 2033, at a CAGR of 21.3% from 2023 to 2033.

The current improvement withinside the live-streaming commercial enterprise is the adoption of modern technology withinside the virtual media sector. Innovations, including blockchain and artificial intelligence, to enhance video excellence are predicted to drive the market growth. AI plays a crucial role in editing, cinematography, voice-overs, scriptwriting, and numerous components of video production and upload of products.   An Event Streaming Platform (ESP) is a relatively scalable and sturdy system that constantly consumes gigabytes of events per second from numerous sources. The information gathered is available in milliseconds for smart applications which could react to events as they happen. The event streaming platform market is expected to develop as a result of things inclusive of the developing client desire for live streaming over social media posts, the recognition of e-sports activities and video games, the developing recognition of live streaming technology, and the growing adoption of smartphones along with faster internet. The increasing call for network bandwidth optimization and a bigger audience for live-streaming content material assist marketplace expansion.

COVID-19 Impact on the Global Event Streaming Platform Market

People frequently began using live streaming while COVID-19 interrupted their working lives, particularly in growing nations. The live video era has become a want due to the pandemic. It is crucial to providing healthcare, commercial enterprise continuity, public safety, and intellectual wellness. Live streaming was used during the pandemic in some of the methods as a workaround for isolation protocols. Due to strict orders to live at home, spiritual services, virtual gatherings, and state-wide town halls were broadcast online. The COVID-19 outbreak has impacted the live-streaming industry. The full/partial lockdown imposed globally to govern the unfolding of coronavirus improved live streaming events by nearly 50% compared to the pre-COVID period. In April 2020 alone, several live-streaming platforms witnessed a considerable boom in viewership. The coronavirus lockdown induced huge sales losses throughout the industries and closed down several production centers throughout the globe, placing a brake on production; however, live video streaming events have spiked further. Analyzing the trend during the COVID-19 crisis, while human beings are still keeping social distancing and averting public gatherings, it is visible that live streaming has increasingly ended up being the favored option for concert events and different massive events. This state of affairs is predicted to boom the increased fee of the market during the forecast period.

Global Event Streaming Platform Market Dynamics

Drivers: Growing Demand for Event Streaming Platform in Various Application

Maximum human beings decide on watching stream videos to reading blogs or social media posts, stay streaming attracts large viewers. Lockdowns have been imposed in several countries due to the COVID-19 outbreak. As a result, most of the events and television programs have been postponed. Which substantially multiplied the quantity of event-streaming activity worldwide. Numerous OTT sites, like Twitch, Facebook gaming, and YouTube, noticed a pointy boom in live viewership worldwide, mainly in April. Users' increasing event streaming behavior across all industries fuel market enlargement.

Additionally, the market is increasing due to the multiplied call for more brand interaction attained through live videos. Videos may be used effectively in webinars and publications withinside the instructional and academic enterprise to enhance teaching and gain knowledge of procedures. Visual records drastically impact students' capability to recollect information. As a result, colleges, universities, and different academic establishments are generating multimedia data and disseminating it via video presentations. The effective use of event streaming platforms. Streaming services for academic purposes are being favorably motivated through elements like the ease with which academic video content material can be accessed, the growing call for mobile devices, and the enlargement of internet accessibility. Live streaming draws more audiences as most human beings decide to watch live motion pictures over-reading a weblog or social post. Rising video streaming sports via way of means of customers throughout verticals pressure marketplace increase. Besides, the developing want for more emblem engagement and attain through stay videos boosts the increase of the market. Moreover, the developing viewership of OTT structures and stay streaming content material, along with the growing numbers of Internet and smartphone customers, are the alternative elements predicted to persuade the live streaming market to increase.

Restraints: High Costs May Restrain the Market Growth

The event-streaming platform market is experiencing tremendous growth, supporting the global retail sector to overcome the coronavirus impact. However, buying false visitors is significant malpractice to increase viewer counts. Fake visitors are a widely recognized difficulty influencing the live event-streaming sector and the entire internet enterprise globally. It is increasing throughout international social media systems. Viewership of OTT systems and stay-streaming content material, along with the growing numbers of Internet and telephone users, are the alternative elements anticipated to influence the stay-streaming marketplace growth. The technical improvements and developing range of service carriers in this area pose a risk to the standalone streaming giants of the market. These complimentary services for television and different entertainment content material threaten the marketplace growth. It is expected that developing concerns about content material piracy and safety might obstruct enterprise operations by decreasing consumer interest and consumption of content material.  

Opportunities: Surging Adoption of Cloud Based Solution

The high penetration of the live streaming platform that allows potential shoppers to contact and engage in real-time to buy and promote the freshest collectibles & objects they need gives enormous boom opportunities. Event-streaming platforms market is tapping into the collectible and enthusiast communities in growing areas to position themselves to capitalize on live streaming's early success. The developing requirement for high-bandwidth internet access has inspired the event streaming platform market boom. Additionally, there have been quick adjustments in the education sector, such as Microsoft acquiring Affirmed Networks in 2020. Affirmed Networks is a cloud-native networking solutions company for telecom companies with headquarters in the United States. Microsoft expects that this collaboration will assist with the introduction of 5G and edge computing technologies. Further, the new alliances and technical improvements will power the marketplace for event streaming offerings, eventually opening opportunities for the event streaming platforms market.

Scope of the Global Event Streaming Platform Market

The study categorizes the event streaming platform market based on type, and application, at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Data Firehose & Storage
• IT Application
• Website

By Application Outlook (Sales, USD Million, 2019-2033)

• IoT Device Data Analysis
• Social Media
• Security
• Application Event Processing

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Website segment accounts for the largest market share in 2021 by Type

Based on the type, the market is segmented into data firehose & storage, IT applications, and websites. The website segment accounts for the largest revenue share in 2022. platform market owing to the increasing population and internet access for people. The access to smartphones and wide availability of cyber café. Since websites can be accessed from anywhere and through any device with an internet connection, it has a strong market. The wide range of options available on the websites and the features they provide foster the market’s growth. Moreover, since there is no download involved in streaming from this platform, there is no specific disk space. All these factors are making the website segmental growth a boom. Thus it also seemed to grow during the forecast period.

Asia-Pacific is projected to account for the highest market share by region

Based on the regions, the global event streaming platform market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia-pacific is expected to witness the highest market share in 2022, owing to the high adoption of event streaming platforms in Asian countries. The growing population, better internet access through the rapid boost of cloud-based streaming services, and the growing demand due to the vast user base have played important roles in promoting growth in the region. The vast pool of visitors and strong call for OTT platform products also result in marketplace growth in the region increase the market growth. Additionally, the growing adoption of cloud-based services and collaborations among authorities and network corporations improve the event streaming market size in the region. Large-scale investments through network and broadcasting businesses toward outsourcing event streaming solutions and services contribute to regional market growth. Furthermore, technical advances and the high adoption of the internet, mobiles, tablets, and other smart devices propel the regional market increase.

Key Market Players in the Global Event Streaming Platform Market

The event streaming platform market is extremely cutthroat, and significant competitors in the sector are using tactics including product development, collaborations, acquisitions, agreements, and growth to bolster their market positions. Most sector businesses focus on growing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global event streaming platform market are:

• IBM
• Amazon
• Google
• SAS Institute Inc.
• VMware Inc.
• Oracle
• Crosser Technologies
• Hazelcast
• Confluent
• Instaclustr

Recent Developments

• In March 2022, Y2k Solutions Inc. debuted a current Beta 1.0 video streaming platform for academic video courses. The platform presents loose internet hosting, cloud hosting, video hosting, and streaming solutions and services.
• In December 2020, Whatnot (the US), a live-stream purchasing platform and market for collectors and enthusiasts introduced that it raised USD 4 milliion in seed funding. The company planned to apply those finances to boom the team, scale up its operations, and enlarge into new categories, together with video games, clothier toys, comic books, and antique fashion.
• In December 2020, Scienjoy Holding Corporation, a main live entertainment mobile streaming platform in China, introduced its enterprise strategies, aiming to construct a live streaming full ecosystem. The company focused to diversify the enterprise withinside the complete spectrum of the live streaming complete ecosystem, together with each upstream and downstream
• In July 2020, Tencent Holdings Ltd. released a video streaming provider in Thailand to enlarge its effect outside of China. The corporation grew throughout Thailand through WeTV, Tencent's JOOX music and streaming service, and its cellular PUBG game.

Key Issues Addressed

• What is the market size by various segmentation of the event streaming platform by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the event streaming platform market?
• What are the key opportunities and trends for manufacturers involved in the event streaming platform supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of event streaming platforms in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.