What is the present valuation and projected CAGR of the virtual events market?
The virtual events market size has grown exponentially in recent years. It will grow from $193.45 billion in 2024 to $236.69 billion in 2025 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to enhanced attendee experience, revenue generation, roi focus, competitive landscape, and global reach and accessibility.
The virtual events market size is expected to see exponential growth in the next few years. It will grow to $537.18 billion in 2029 at a compound annual growth rate (CAGR) of 22.7%. The growth in the forecast period can be attributed to hybrid events, global reach and accessibility, revenue generation, personalization, and competitive landscape. Major trends in the forecast period include platform diversity, hybrid events, enhanced attendee experience, innovative technologies, and sustainability.
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What key drivers have fueled the virtual events market’s development over the years?
The increasing frequency of business events is expected to propel the growth of the virtual events market going forward. Business events are large gatherings where professionals engage in business-related activities, such as selling services, networking, or holding meetings. Increasing the frequency of virtual business events enhances engagement, networking opportunities, and knowledge sharing within the online community. Business events provide valuable educational opportunities for attendees to learn about virtual events’ benefits, features, and best practices. This education and awareness-building contribute to expanding the virtual events market by addressing potential concerns, dispelling myths, and showcasing success stories. For instance, in August 2023, according to Equation Events, a US-based events company, the event industry’s job market is projected to grow at 11% and reach 5.9 million jobs, indicating healthy demand. Additionally, concert and event promotion businesses experienced 9.1% growth in 2022, with 73,414 such companies in the U.S. Therefore, the increasing frequency of business events is expected to propel the growth of the virtual events market.
What is the segmentation for the virtual events market?
The virtual events market covered in this report is segmented –
1) By Type: Internal Event, Extended Event, External Event
2) By Component: Platform, Services
3) By Application: Conferences And Conventions, Corporate Meetings And Training, Exhibitions And Trade Shows, Seminars And Workshops
4) By End User: Educational Institution, Corporate, Government
Subsegments:
1) By Internal Event: Corporate Meetings, Training Sessions, Team-Building Activities
2) By Extended Event: Hybrid Events, Multi-Session Conferences, Webinars With Networking Opportunities
3) By External Event: Trade Shows, Product Launches, Public Conferences And Seminars
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Who are the most influential companies in the virtual events market?
Major companies operating in the virtual events market are Microsoft Corporation, NTT Limited, Cisco Systems Inc., NTT Data Inc., Adobe Systems Inc., Zoom Video Communications Inc., Alcatel-Lucent S.A., Martiz Holdings Inc., Citrix Systems Inc., Avaya LLC, George P. Johnson, Cvent Inc., Kestone Integrated Marketing Services Pvt. Ltd., ALE International SAS, Hubilo Technologies Inc., 6Connex, Aventri Inc., CL Educate Ltd., vFairs, EventX Limited, Veritas Technologies LLC, EventX Limited, uBivent GmbH, Pathable Inc., Alive Events Agency
What are the top industry trends projected to impact the virtual events market?
Major companies operating in the virtual events market are developing innovative technology, such as boosting virtual events to better serve audiences with delightful experiences. Boost virtual events refer to online gatherings, conferences, or meetings organized and conducted entirely in a virtual environment. Boosting virtual events involves using various strategies and technologies to increase attendee engagement, drive sales, and enhance brand engagement. For instance, in October 2022, Zoom Video Communications Inc., a US-based communications technology company, launched boost virtual events, virtual booths, or exhibition spaces where sponsors and exhibitors can showcase products, services, and resources. Attendees can explore these spaces, interact with exhibitors, download materials, and schedule meetings.
What are the major regional insights for the virtual events market, and which region holds the top position?
North America was the largest region in the virtual events market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual events market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Virtual Events Market Report 2025 Offer?
The virtual events market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A virtual event, also referred to as an online event, virtual conference, or live-streamed experience, is an occasion where individuals engage in interactions within a digital environment on the internet rather than convening at a physical venue. These events leverage digital platforms and technologies to enable participants to interact, engage, and collaborate remotely.
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