According to the latest report by IMARC Group, titled “Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global virtual events market share exhibited strong growth in 2015-2020. Virtual events refer to web-based events that involve individuals interacting in a virtual space via laptops, smartphones, desktop computers, tablets, etc. Some common virtual events include video and web conferencing, breakout sessions, virtual collaborations, social networking, etc. Virtual events offer cost-effective solutions that bring together various attendees in a shared environment for a common purpose or objective. Presently, numerous vendors are providing several sophisticated tools that aid in streamlining the overall virtual experience. Virtual events find extensive applications across various sectors, including healthcare, hospitality, education, etc.
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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 shifting preferences towards virtual infrastructures among organizations are among the primary factors driving the virtual events market. Moreover, the widespread adoption of virtual events by small and large-scale companies for social media development, event marketing, event outsourcing analytics, etc., is further catalyzing the market growth. Besides this, the inflating need for video conferencing and communication platforms across the corporate segment to ensure seamless interactions and business continuation, on account of the sudden outbreak of the COVID-19 pandemic, is augmenting the global market. Additionally, the integration of numerous interactive tools, such as polling, chats, live questions and answers (Q&A), etc., to offer a unique interactive experience to the users is also positively influencing the market growth. Apart from this, the advent of advanced technologies, such as Software-as-a-Service (SaaS)-based virtual events that enable organizations to enhance the efficiency of the events, is anticipated to fuel the virtual events market over the forecasted period. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 25% during the forecast period (2021-2026).
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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.
- Avaya Holdings Corp.
- Broadsoft Inc.
- Cisco Systems Inc.
- Citrix Systems Inc.
- 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
Market Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
Market Breakup by End-Use:
- Finance and Banking
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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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