The Asia-Pacific (APAC) video streaming market is poised for explosive growth, with projections showing the market will reach $112.89 billion by 2030, driven by a robust compound annual growth rate (CAGR) of 22.5% from 2023. The surge in demand for mobile-first streaming services, particularly in key markets like Indonesia and Malaysia, where mobile content consumption dominates, is fuelling this expansion. In Indonesia, 69% of users stream on smartphones, while in Malaysia, the figure stands at 86%. Amidst this boom, Agora, Inc. (NASDAQ: API), a global leader in Real-Time Communication (RTC) technology, is positioning itself to capitalise on these trends, offering innovative communication solutions to meet the evolving needs of this rapidly expanding market.
The video streaming landscape in the APAC region is increasingly defined by a mobile-first approach, which necessitates high-performance, low-latency communication solutions to ensure seamless and real-time user experiences. Agora’s cutting-edge real-time engagement technology allows developers to integrate voice, video, and interactive features effortlessly, making it possible for businesses to deliver high-quality, instantaneous interactions that users now expect.
Tony Wang, Co-Founder and Chief Revenue Officer at Agora, remarked, “We are seeing unparalleled growth in the video streaming market, and Agora’s technology is at the forefront of this revolution. Our commitment to innovation ensures we meet current demands while anticipating future trends like AI integration, multimodal communication, and immersive AR and VR experiences. The key is enabling businesses to deliver real-time, interactive experiences that keep users engaged, no matter where they are.”
Agora’s Real-Time Engagement Platform supports over 60 billion minutes of live voice and video each month, serving more than 1,700 clients across 200 countries. This represents a 14% year-on-year increase, underscoring the platform’s growing significance in powering critical communication services across various industries. Agora’s technology plays a pivotal role in the success of 60% of the top one-on-one video apps by revenue, 45% of leading dating apps in Southeast Asia, and 65% of the top 20 voice chat rooms in the region. Agora also holds a dominant 40% share among leading live-streaming apps, the highest among third-party RTC providers.
Shaping the Future with AI and Multimodal Communication
Agora’s vision extends beyond traditional RTC technology. The company aims to revolutionise the AI landscape with multimodal solutions combining voice, video, and chat to enable real-time, AI-powered experiences with ultra-low latency, even under varying network conditions.
Multimodal AI is set to transform business operations by fostering human-AI collaboration. For instance, in telehealth, Agora’s AI solutions could streamline diagnoses and make healthcare more accessible. Similarly, sectors like education, entertainment, and customer service are expected to benefit from these AI-driven systems, which offer real-time insights, generate creative content, and provide user-based recommendations.
Innovations such as AI-based noise suppression and real-time transcription (RTT) are already integrated into Agora’s platform, ensuring superior communication experiences even in noisy or low-bandwidth environments. “Agora is actively responding to the rapid shifts in the APAC video streaming landscape,” added Effie Fang, Director of Agora’s APAC Sales Team. “Our technology not only supports but also drives innovation in how businesses interact with their audiences. Leveraging our advanced real-time communication solutions, companies can enhance user engagement and capitalise on the market’s explosive growth.”
In Indonesia, Everywhere.id has utilised Agora’s real-time communication technology to drive a 71% increase in user interactions, achieving 13 million minutes of peak monthly engagement. Fastwork, a leading freelancing platform, doubled its chat-to-payment conversions after integrating Agora’s real-time calling API, highlighting the transformative impact of seamless communication on business performance.
Addressing Industry Trends and Challenges
As the RTC industry evolves, Agora is tackling key trends and challenges, including the rise of 5G, the integration of AI, IoT, and machine learning, and the growing importance of AR/VR and metaverse applications. Agora is not only keeping pace but actively driving these developments. By optimising its solutions for 5G networks, Agora ensures its platform delivers top-tier audio and video quality, regardless of location.
Security and privacy are critical concerns in the RTC space. Agora has introduced industry-leading safeguards to protect its users, focusing strongly on compliance and data security, positioning itself as a leader in a market that prioritises trust and safety.
Looking Ahead: Agora’s Strategic Roadmap
As the APAC video streaming market continues to grow, Agora is focused on staying ahead by pushing the boundaries of AI and multimodal communication. These advancements set the standard for real-time, AI-powered solutions in broadcasting, customer service, and healthcare.
Agora is also expanding into high-growth markets such as South Korea, Japan, Vietnam, and Thailand, particularly in sectors like media, entertainment, and live commerce. Through targeted marketing initiatives, the company is enhancing its brand visibility and reinforcing its leadership position in real-time communication technology.
