Live video streaming is driving internet and social media users crazy. The industry is expected to clock a revenue of US $ 184 billion by 2027. It is also expected to capture nearly 17% of internet traffic by the end of 2022, so the use of streaming tools will be extremely important.
The future of live video streaming is bright, as people make it a part of their lives. Live video allows people to be a part of the process and not mere spectators. No wonder their association with the brand and the speaker grows when they see originality in the delivered content.
The year 2020 has been massive for brands and speakers. Unlike other times, 2020 brought them a captive audience who were forced to stay glued to their digital devices due to the pandemic-driven lockdown.
Since viewers have got used to live videos, content creators are experimenting more than they could. Knowing the future trends can help you stay ahead in the race. And, to keep you motivated, here is the ultimate stat you need to know – the live streaming industry grew 99% on a YoY basis in 2020.
Scroll down to discover the top-7 trends of live video streaming that will create the maximum buzz in 2021.
Trend #1 – Telehealth and Telemedicine Will Churn ‘Never-Seen-Before’ Revenue
Telemedicine and tele doctor consultations have undoubtedly been the biggest contributor to the growth of the live streaming industry. Live streaming simplified healthcare during troubled times and will continue to do so in 2021. Research conducted by Acumen Research and Consulting discovered that, by 2026, the global telehealth market might become a US$ 20 billion market.
Telehealth live streaming will play an instrumental role in controlling the spread of diseases in the future. Be it virtual visits or remote monitoring of patients and treatment of patients using robots, 2021 will carry forward the innovative ideas that 2020 brought along.
Not only doctors but hospitals are also depending on integrated technology, such as live streaming, to carry out surgery and enhance the quality of patient care. Complex medical procedures like laparoscopies, endoscopies, or robotic surgery are being made easy with live streaming, reducing patients’ recovery time.
Telehealth live streaming is here to stay and will drive the future. With the arrival of 5G, the telehealth sector is bound to witness significant growth.
Trend #2 – Machine Learning And Artificial Intelligence Will Become Bigger And Better
Artificial Intelligence (AI) and Machine Learning (ML) have been consistent trendsetters for the past few years.
However, the year 2020 has been a roller coaster ride for AI and ML-driven live streaming. While Facebook and Google created a storm with their new privacy clauses and regulations, User Generated Content (UGS) on intuitive platforms like TikTok kept users hooked. Established brands are now focusing their attention on developing an app that allows users to play a decision-making role in framing the content and not merely being passive players.
If you want to see your business scale up and create a live streaming app using AI and ML, 2021 can be the best year for experimenting. You can make the things that were under experiment a part of the core product feature. You can also expect features like automatic encoding of content, automatic metadata extraction, translation, and context-dependent advertising.
Trend #3 – H.264 Encoding Will Make the Cut
When we talk about futuristic trends, it is naive to assume that H.264 encoding will give way to something better. However, the statistics do not seem to go in favor of the proposition.
H.264 encoding scores high marks in cost-effectiveness and processing power. Moreover, replacing the vast number of H.264 supportive devices, such as set-top boxes, IP cameras, and mobile devices, with a newer encoding technology seems challenging. Additionally, content archiving is an area where H.264 has an immense contribution, and re-encoding the entire content may be impossible.
In 2021, you can expect High-Efficiency Video Coding (HEVC/H.265) to shoot into prominence. HEVC offers at least 50% higher data compression than H.264. With the rampant use of HEVC, sending 4K or HDR videos through prevailing delivery channels may be a cakewalk.
2021 can also witness a quick adoption of the Versatile Video Coding or VVC technology. VVC may reduce 50% bitrate expenditure over HEVC and yet provide optimal video quality.
Trend #4 – User-Generated Content Will Take The Centrestage
The live streaming audience went ga ga over User Generated Content or UGC in 2020. UGC passes the ownership of the content on the user. It reduces the liability of the app owner as the community takes care of the app’s growth.
UGC is authentic, natural, and hence, addictive. In 2021, you can expect app marketers to focus more on UGC.
For instance, Instagram launched ‘Reels’ recently, where users can upload short 15-second clips to entertain users. The format has received appreciation from users, and they are leaving no stones unturned to contribute in their best way.
Hence, UGC is the future, and creativity and inclusivity will remain the theme in 2021.
Trend #5 – Personal Fitness Will Go Remote
For most of 2020, people had to find alternative ways to exercise. Gyms were closed, and fitness studios were out of bounds. The compulsion to exercise at home made them turn towards live streaming to get their daily fitness dose.
With things returning to normalcy, it is natural to assume that people will return to studios and gyms. But, the reality is something different. Fitness enthusiasts are recognizing the benefits of home-based exercise and are gradually moving to live streaming.
For instance, Apple Fitness+, Mirror, and BeachBody are adding massive subscribers to their pages. Hence, you can expect personal fitness to remain accessible in the times to come.
Trend #6 – Brick and Mortar Stores Will Move to Live Commerce
Big eCommerce brands have been experimenting with live commerce for quite some time now. And they are getting enormous responses from consumers.
You can expect the live commerce wave to hit brick and mortar stores in 2021, as stores reduce their capacity by a big margin. They are experimenting with ‘shoppable media,’ including live streams, virtual chat sessions, etc. It will not be an exaggeration to state that live commerce will change the face of advertising and make it more targeted.
Hence, live commerce will generate more sales in 2021 than it ever did.
Trend #7 – Security Will Reinvent Itself
Live streaming has no doubt made life more comfortable. In 2021, we expect the live streaming industry to be more secure than it has ever been.
Knowingly or unknowingly, customers provide a lot of data to the content provider. Content providers are now treating this data as a high priority from the security perspective.
Hence, you can expect complete encryption of user data in 2021. Moreover, security adoption will be rampant, and organizations that stayed away from the security net to date will come under it. And, cloud security can finally be a reality.
Conclusion
If you want to create a futuristic live streaming app, you need to choose the right mobile app hosting service. Catch the trend early, and your business can witness significant gains. Keep an eye on the upcoming trends to stay ahead in the race.