Virtual Events Market Overview 2022-2027:
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 trends. 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.
A virtual event is a web-based event that includes a vast range of activities, such as broadcasting, live streaming and audio/video conferencing. They require individuals to interact in a virtual space via tablets, laptops, desktops and smartphones using the internet. Some of the most common types of virtual events include company conferences, sales meetings, summits, job fairs and trade shows. They provide a cost-effective solution that brings together a large number of attendees from across the globe for a purposeful gathering.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Events Market Trends:
The global market is primarily driven by rapid digitization and the growing preference towards the utilization of virtual infrastructures and services by numerous organizations. Additionally, there has been a considerable increase in the number of virtual events being held across the globe due to the mandatory lockdowns imposed by the governments of numerous countries to curb the spread of the coronavirus disease (COVID-19).
This has also prompted numerous small and large-scale organizations to adopt Work-From-Home (WFH) policy, which has led to the rising need for video conferencing and communication platforms across the corporate segment to ensure seamless business and client meetings.
Apart from this, they are also leveraging advanced technologies, such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR), to provide unparalleled efficacy and improved user experience, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the easy availability of high-speed internet connection, the advent of software-as-a-service (SaaS)-based virtual events and the increasing demand for audio and video conferencing from the education sector.
The market is primarily driven by the increasing adoption of unified communication as a service (UCaaS)-based solutions in different industry verticals. In line with this, the expansion of remote work environments and the increasing trend of work from home (WFH) act as significant growth-inducing factors for the market.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/virtual-events-market
Competitive Landscape with Key Players:
- 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.
Market Breakup by Type:
- Video Conferencing and Unified Communications & Collaborations
- Web Conferencing
Market Breakup by Solution Type:
- Webinars and Enterprise Streaming
- Networking and Collaborations
- Content Sharing and Media Development
- Event Marketing
Market Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
Market Breakup by End-Use:
- Finance and Banking
Market 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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