Live Audio Streaming
The Rising Popularity of Interactive Content and Real-Time Engagement Presents Huge an Opportunity for Global Live Audio Streaming Market; says AMI
HOUSTON, TEXAS, UNITED STATES, July 24, 2023/EINPresswire.com/ — Live audio streaming refers to the real-time broadcasting of audio content over the internet, allowing users to listen to live events, discussions, music performances, or other audio-based content as it streams. It enables people from all around the world to tune in and participate in events, conversations, or presentations in real-time, similar to traditional radio broadcasts but delivered through digital platforms. The concept of live audio streaming has gained significant popularity in recent years, driven by advancements in technology, increased internet connectivity, and the growing popularity of social media and online communities. It allows content creators, speakers, musicians, podcasters, and various other individuals or organizations to share their audio content with a global audience instantaneously. However, many other platforms and various standalone apps, have also entered the live audio streaming market, contributing to its rapid growth and evolution. The global live audio streaming market recorded US$ 765.8 Mn in 2022, growing at an estimated CAGR of 11.7% over the forecast period.
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Due to the pandemic, the frameworks of daily life and how people consume entertainment have changed dramatically. Consumers have drawn towards visual forms of entertainment such as video streaming, gaming, social media, and live streaming as they have more downtime and consistent access to WiFi, whereas audio use has fluctuated. According to recent study on live streaming music performances, musicians are largely optimistic about the efficacy of this strategy for reaching new audiences, and most music lovers are not put off by having to pay for certain live streamed shows. According to a poll, 90% of musicians and 92% of fans felt that live streaming will be an effective tool in the future for reaching audiences that are unable or unable to attend physical venues. Over two-thirds of those polled felt that livestreaming will continue to play an essential role in the landscape after the outbreak. Thus it can be studied that Covid-19 has had a positive impact on the global live audio streaming market and will continue to grow during the forecast period.
Which Application Segment had the Highest Share in the Global Live Audio Streaming Market in 2022?
Business segment had the highest share in the global live audio streaming market in 2022. Almost 90% of individuals worldwide listen to audio-only streaming on a regular basis. Given that large audience size, it’s no wonder that live audio broadcasting is experiencing a revival.
Live audio is being broadcasted by a wide range of enterprises, organisations, and people. For example, full-fledged radio stations with various content, business and entrepreneurial podcasts and recordings, sports broadcasts, religious broadcasts, and many more are taking use of this. The advantage of audio-only streaming is that it uses far less bandwidth than visual streaming. Listeners may also tune into an audio-only broadcast, which is quite convenient. Listeners may listen to audio while driving, working exercise, or doing other everyday tasks without being distracted. The rising popularity of live audio streaming provides an incentive for most businesses and organisations to jump on board and reach their target audience in a new way.
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Based on Region Segment, Which Region is Anticipated to be the Fastest Growing Region in the Live Audio Streaming Market during the Forecast Period?
During the projected period 2023-2031, Asia Pacific is expected to be the fastest growing region. The rapid growth of digital content consumption in Asia has led to a surge in demand for diverse forms of entertainment and information. Live audio streaming offers a unique and engaging way to consume content beyond traditional media formats. Several local and global live audio streaming platforms have entered the Asian market, catering to the region’s diverse preferences and interests. Some platforms have also formed partnerships with local influencers and content creators to enhance their presence in specific Asian countries.
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Some of the players operating in the global live audio streaming market are
o Adobe
o Castr Live Streaming, Inc.
o LiveVoice
o Mixlr Ltd
o Muvi
o NCH Software
o Podbean
o Stream Monster Inc
o uStudio, Inc.
o Other Industry Participants
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Global Live Audio Streaming Market:
By Offerings
o Solutions
o Services
By Deployment
o App based
o Web based
By End Users
o Individuals
o Government Organizations
o Business
o Sports and Gaming
o Media and Entertainment
o Corporate
o Education
o Others
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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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