According to the latest report by IMARC Group, titled "Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on virtual events market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global virtual events market size reached US$ 140.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 468.9 Billion by 2028, exhibiting a growth rate (CAGR) of 22.6% during 2023-2028.
What are virtual events?
Virtual events are organized over web-based platforms that enable the interaction of individuals in a virtual environment through connected devices, such as smartphones, laptops, computers, and tablets. They allow the masses to communicate, share feedback and ideas in meetings, and enjoy a shared experience through online mode. They offer live chat options, multi-live stream support, video-on-demand sessions, question and answer sessions, and up-voting sections that help in enhancing work efficiency. Some of the popular virtual events include business conferences, sales meetings, summits, academic classes, job fairs, and trade shows. They are gaining traction across the corporate sector as they assist the organization in minimizing the overall cost associated with organizing a physical seminar, conference, and meeting.
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What are the growth prospects and trends in the virtual events industry?
The global market is primarily driven by the widespread adoption of virtual services by organizations. Moreover, the rising adoption of the work-from-home (WFH) model during the onset of the pandemic is contributing to the market across the globe. Along with this, the emergence of innovative technologies, such as augmented reality (AR) and virtual reality (VR), that allow three-dimensional (3D) live streaming for digital events is acting as a growth-inducing factor. Besides this, the penetration of high-speed internet connectivity and smart devices, including smartphones, tablets, and laptops, are favorably impacting the market. Other factors, such as the advent of a wide variety of digital media platforms and continuous improvement in the networking infrastructure, are also influencing the market.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
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Virtual Events Market Segmentation:
Our report has categorized the market based on region, type, solution type, application and end-use.
Breakup by Type:
- Video Conferencing and Unified Communications Collaborations
- Web Conferencing
Breakup by Solution Type:
- Webinars and Enterprise Streaming
- Networking and Collaborations
- Content Sharing and Media Development
- Event Marketing
- Others
Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
- Others
Breakup by End-Use:
- Corporate
- Education
- Healthcare
- Finance and Banking
- Government
- Others
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 (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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