Market Size –
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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Scope Of Virtual Event Platform Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
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
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Virtual Event Platform Market Report Structure
3. Virtual Event Platform Market Trends And Strategies
4. Virtual Event Platform Market – Macro Economic Scenario
5. Virtual Event Platform Market Size And Growth
…..
27. Virtual Event Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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