The virtual events global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Virtual Events Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The virtual events market size has grown exponentially in recent years. It will grow from $156.84 billion in 2023 to $193.45 billion in 2024 at a compound annual growth rate (CAGR) of 22.3%. 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 $437.16 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. 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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Scope Of Virtual Events 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.
Virtual Events Market Overview
Market Drivers –
The increased 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 increased frequency of business events is expected to propel the growth of the virtual events market.
Market Trends –
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.
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
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Regional Insights –
North America was the largest region in the virtual events market in 2023. 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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Virtual Events Market Characteristics
3. Virtual Events Market Trends And Strategies
4. Virtual Events Market – Macro Economic Scenario
5. Global Virtual Events Market Size and Growth
…
32. Global Virtual Events Market Competitive Benchmarking
33. Global Virtual Events Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Events Market
35. Virtual Events Market Future Outlook and Potential Analysis
36. Appendix
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