Overview and Scope
The virtual event platform refers to a tool which host interactive events such as conferences, trade expos, and workshops over the internet. The purpose of a virtual events platform is to broaden the audience base and create inclusivity. It also provides an efficient means of increasing revenue and tracking crucial data about the audience.
Sizing and Forecast
The virtual event platform market size has grown rapidly in recent years. It will grow from $13.27 billion in 2023 to $14.99 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to digital transformation initiatives, globalization and remote collaboration, covid-19 pandemic acceleration, need for flexibility and scalability, enhanced user engagement features..
The virtual event platform market size is expected to see rapid growth in the next few years. It will grow to $26.53 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to post-event analytics and measurement, integration with social media platforms, competitive landscape and innovation, enhanced accessibility and inclusivity, evolution of virtual trade shows and exhibitions.. Major trends in the forecast period include dynamic content formats, real-time collaboration tools, content distribution and monetization, focus on inclusivity, enhanced security measures, multi-platform accessibility, gamification elements..
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Segmentation & Regional Insights
The virtual event platform market covered in this report is segmented –
1) By Component: Platform, Services, Training and Consulting, Support and Maintenance, Deployment and Integration
2) By Organization Size: Large Enterprises, Medium-Size Enterprises, Small Enterprises
3) By End-User: Non Profit, Government, Education, Healthcare and Lifesciences, Third Party Planner, Associations, Corporations
North America was the largest region in the virtual event platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual event platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increasing number of online meetings, conferences, lectures, and events is expected to propel the growth of the virtual event platform. The emergence of a global pandemic presented new challenges for corporates to conduct meetings and events. When in-person meetings had to be cancelled, businesses had to immediately switch to virtual meetings using cutting-edge technology to facilitate connectivity and reduce the impact of COVID-19 disease. Due to this sudden shift towards virtual conferences and events, the use of virtual event platforms has increased. For instance, according to Kaltura’s The State of Virtual Events 2022 survey report, a global survey of around 1250 organizers and attendees, 92% of organizers shifted to virtual events in 2021, 94% plan for virtual events in 2022, and 48% plan to increase the number of virtual events in 2023. Therefore, the rising number of virtual events, conferences, and lectures will drive the virtual event platform market growth.
Key Industry Players
Major companies operating in the virtual event platform market report are 6Connex Inc., Cvent Inc., Microsoft Corporation, Cisco Systems Inc., Zoom Video Communications Inc., Influitive Corporation, Whova Inc., OneCause Inc., Webex Events (formerly Socio), GoTo Webinar (LogMeIn Inc. ), BlueJeans Events (Verizon Business), ON24 Inc., PheedLoop Inc., vFairs, BigMarker Inc., HeySummit, Remo Inc., EventCube Inc., Tame Inc., Hopin Limited, Airmeet Inc., Accelevents Inc., Attendify Inc., Bizzabo Inc., Brella Productions Oy, Cadence Design Systems Inc., Crowdcast Inc., Intrado Corporation, Swapcard SAS, Hubilo Technologies Inc.
The virtual event platform market report table of contents includes:
1. Executive Summary
2. Virtual Event Platform Market Characteristics
3. Virtual Event Platform Market Trends And Strategies
4. Virtual Event Platform Market – Macro Economic Scenario
5. Global Virtual Event Platform Market Size and Growth
….
31. Global Virtual Event Platform Market Competitive Benchmarking
32. Global Virtual Event Platform Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Virtual Event Platform Market
34. Virtual Event Platform Market Future Outlook and Potential Analysis
35. Appendix
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