According to the latest report by IMARC Group, titled “Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on virtual events market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global virtual events market reached a value of US$ 114.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 385.1 Billion by 2027, exhibiting a CAGR of 22.8% during 2022-2027.
Virtual events refer to digitally simulated proceedings, such as online meetings and conferences, that provide access to business-critical information that allows individuals to share information while discussing and solving problems using web-based platforms. Some of the different events under this category can be classified into sales meetings, summits, audio/video conferences, job fairs, trade shows, and exhibitions. These events play a decisive role in connecting businesses with the remote workforce and conducting business procedures. As a result, virtual events find extensive applications across the healthcare, banking, financial services and insurance (BFSI), hospitality, and education industries.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Events Market Trends:
The market is primarily driven by the increasing adoption of unified communication as a service (UCaaS)-based solutions in different industry verticals. In line with this, the expansion of remote work environments and the increasing trend of work from home (WFH) act as significant growth-inducing factors for the market. Moreover, the growing popularity of online streaming, the rapid shift of enterprises towards cloud services, and the increasing preference for video conferencing are further providing a boost to the market growth.
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Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players.
- Adobe Inc.
- Alcatel-Lucent
- Atlassian
- Avaya Holdings Corp.
- Broadsoft Inc.
- Cisco Systems Inc.
- Citrix Systems Inc.
- Huawei
- International Business Machines
- Microsoft Corporation
- Mitel Networks
- Toshiba Corporation
- Zoom Video Communications Inc.
Virtual Events Market Segmentation:
Our report has categorized the market based on region, type, solution type, application and end-use.
Market Breakup by Type:
- Video Conferencing and Unified Communications & Collaborations
- Web Conferencing
Market Breakup by Solution Type:
- Webinars and Enterprise Streaming
- Networking and Collaborations
- Content Sharing and Media Development
- Event Marketing
- Others
Market Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
- Others
Market Breakup by End-Use:
- Corporate
- Education
- Healthcare
- Finance and Banking
- Government
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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