This indicates that Twitch has the highest recorded audience engagement with the streaming platform to date when compared to Facebook, where only 700 million people play, watch, or hang out in Facebook gaming groups a month. According to Streamlabs, Twitch has reached 6.51 billion hours of viewing in the second quarter of 2021.It will seek to enter partnerships and consolidation to acquire viewers for the long term.

Rising competition in the live game streaming space is expected to create better user experiences to drive growth in downloads, usage, and revenue.

Live game streaming is emerging through the subscription-based or advertisement-based revenue model.AfreecaTV has also cooperated with notable foreign broadcasters for the esports tournaments to make the gaming battles more engaging for overseas spectators. In addition, The Korean video streaming service has hosted various esports events in several countries, using games popular in each region.AfreecaTV, according to the corporation, presently operates six firms in South Korea, Japan, Taiwan, the United States, Thailand, and Hong Kong to supply varied streaming content in many languages so that overseas viewers can watch it without any communication obstacles. For instance, In January 2022, AfreecaTV plans to expand communication with worldwide users through esports content to the Korean video streaming provider. The key players in the market are focusing on expanding their services to remain competitive.

Such trends have led game developers, hardware providers, and game publishers to launch game streaming platforms to provide every option available to ensure high loyalty from their customers.

Moreover, the need to play high-end games without requiring to own a powerful PC or a console has helped the development of these internet-based platforms.

The increased adoption of video streaming apps on mobile devices and television to watch movies, television shows, live events, and on-demand media content has supported the demand for gaming and entertainment streaming.

The game streaming market is expected to register at a CAGR of 9% during the forecast period, 2022 - 2027.

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