Virtual Events Market Overview:
According to the latest report by IMARC Group, titled “Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on virtual events market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global virtual events market reached a value of US$ 114.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 385.1 Billion by 2027, exhibiting a CAGR of 22.8% during 2022-2027.
Virtual events refer to web-based solutions that allow individuals who are not physically present at one location to interact in a virtual space through laptops, smartphones, desktop computers, and tablets. They consist of webinars and enterprise streaming, networking and collaborations, content sharing, media development, event marketing, etc. Virtual events facilitate a personalized experience, enhance the audience reach of an organization, and prove to be highly cost-effective as compared to the traditionally used conferencing tools. Consequently, they find extensive applications across numerous sectors, such as education, hospitality, banking, corporate, government, etc.
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The expanding urbanization and the increasing adoption of virtual tools, infrastructure, and services by large- and small-scale enterprises across countries are primarily driving the virtual events market. In addition to this, the elevating integration of other interactive tools, which include polling, forums, chats, live questions and answers (Q&A), etc., to improve the efficiency of the events is acting as another significant growth-inducing factor.
Furthermore, the development of advanced software-as-a-service (SaaS) based virtual events that enable organizations to provide unique interactive experiences is also positively influencing the global market. Apart from this, the shifting preferences toward audio and video conferencing procedures for recruitment purposes are further augmenting the market growth. Moreover, the growing deployment of Unified Communication as a Service (UCaaS), the emerging trend of work-from-home policy, owing to the sudden spread of the Covid-19 pandemic, and the escalating need from the healthcare establishments to conduct medical seminars and conferences are expected to propel the virtual events market in the coming years.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Adobe Inc.
- Avaya Holdings Corp.
- Broadsoft Inc.
- Cisco Systems Inc.
- Citrix Systems Inc.
- International Business Machines
- Microsoft Corporation
- Mitel Networks
- Toshiba Corporation
- Zoom Video Communications Inc.
Virtual Events Market Segmentation:
Our report has categorized the market based on region, type, solution type, application and end-use.
Breakup by Type:
- Video Conferencing and Unified Communications & Collaborations
- Web Conferencing
Breakup by Solution Type:
- Webinars and Enterprise Streaming
- Networking and Collaborations
- Content Sharing and Media Development
- Event Marketing
Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
Breakup by End-Use:
- Finance and Banking
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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