532 million people are estimated to be using Online Game Streaming services by the end of 2022
Online game streaming services are becoming increasingly popular.
Young people in particular are completely enthralled with gaming and evidence suggests that it will probably continue. In recent years, the amount of live streaming video content in gaming has grown significantly. The craze is still spreading across social media platforms, first on Twitch.tv and then on Facebook, YouTube, and continuing to other platforms. Players can stream their gaming activity to a big audience using these game streaming services. In the first month of 2021, UK gamers reportedly (according to Statista) spent an average of 7.17 hours per week playing video games. 715 million of the 3.24 billion players on the worldwide network in 2021 were from Europe, with the UK having the most users at about 46.7 million.
Online gaming streaming services are easily positioned to become a long-lasting trend as consumers spend more and more time online. These services are no longer only used for amusement; they are also generating opportunities for financial incentives. According to the analysis, the global gaming market might increase in size from $178 billion in 2021 to an anticipated $268.8 billion by 2025.
The growing audience is a significant factor in the popularity of online game streaming, in addition to the online streamers' motivation to make money from this alluring business model. According to a 2019 survey, 44% of internet users globally between the ages of 16 and 24 watch livestreams.
In the meanwhile, the pandemic has helped to fuel a large increase in online game viewership and reach a staggering milestone of 1.2 billion viewers in 2020.
With a CAGR of +8% from 2020 to 2025, the worldwide esports audience is predicted to grow to 532 million viewers by the end of 2022 and 640.8 million by the end of 2025.