The Virtual Event Platform by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Virtual Event Platform , 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..
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.
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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
The technological advancement in augmented reality (AR) and virtual reality (VR) is a key trend gaining popularity in the virtual events platform market. Major companies operating in the virtual event platform market are focused on providing a technologically advanced platform to strengthen their market position. These companies are implementing next-generation virtual event platform technologies into their platforms, such as CRM, video API, text API, AI and ML, and others. The AR and VR technologies enable users to interact and manipulate 3D models projected into a real-world environment to enhance a fictional reality. For instance, in January 2022, VRXtream, an immersive event platform, introduced the Metaverse platform for events, connected with the NFT marketplace with equipped AR and VR technologies. This newly announced platform provides a comprehensive suite of realistic, interactive, and feature-assisted events that can be immediately modified with VR Spaces, NFT characters, and NFT features.
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
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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
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