The Virtual Events Market is set to grow at a CAGR of 21.89%, reaching USD 366.5 Billion by 2027, driven by internet usage and COVID-19.
Market Overview:
Virtual Events Market is valued at USD 75.21 Billion in 2020 and expected to reach USD 366.5 Billion by 2027 with a CAGR of 21.89% over the forecast period.
Virtual Events Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Growing numbers of internet users and increasing prevalence of Covid-19 globally are some of the major factors driving the growth of Global Virtual Events Market.
Key Players for Virtual Events Market Report:
Some major key players for Global Virtual Events Market report cover prominent players like Zoom Video Communications Inc., Adobe Systems, Microsoft Corporation, VFairs, Toshiba, Citrix Systems, ALIVE Events, IBM, Alcatel-Lucent, Cisco Systems Inc., Cvent Inc., Mitel Networks, BroadSoft, ALE International, George P Johnson, COREX, Eventxtra, Ubivent and others.
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Scope of Virtual Events Market Report:
Any event that brings people together digitally at the same time is referred to as a virtual event. A virtual event can be anything from a small group conversation to a panel, fireside chat, or direct video broadcast lecture, presentation, or lesson that takes place live over video. Brand recognition, product launch, business networking, knowledge-sharing sessions, community building, and a variety of other objectives can all be accomplished through virtual events. Virtual tradeshows, virtual job fairs, virtual conferences, virtual sales meetings, virtual college open days, and virtual company-wide gatherings are all popular uses of virtual events. Organizations use virtual events for presentations, training, job fairs, expos, internal meetings, and sessions. Associations, professional conference organizers, company executives, marketing managers, product management, human resources, and other essential stakeholders lead virtual events. Alan Saperstein and Randy Selman of Visual Data Corporation (now known as Onstream Media) first publicly defined and presented the “”virtual tradeshow”” as “”ConventionView”” in a presentation to investors at the Waldorf Astoria hotel in New York City in April 1993. The global demand for virtual events is being strengthened by the development of increased use of the internet, innovative ways of virtual events and other factors.
Virtual eventss are the gathering of people from same field and interacting through web environment or virtually through various online platforms. This allow users to meet industry people in their comfort zone. These multi-session eventss provide various features online through webinars and webcasts like one-to-one chats and videoconferencing. The virtual eventss are beneficial for creating similar experience to physical space. The first virtual show as “Convention View” was presented around 1993 and soon in late 2000s virtual eventss got popular as they offer economically effective way to bring attendees from around the globe. As per the report of 2020 by Bizzabo, an events technology company states that 80.2% of events organizers were successful to reach wider audience and around 93% of events professionals are ready to invest in virtual eventss.
Segmentation Analysis:
Global Virtual Events Market is segmented on the basis of types, services, end-user and region & country level. Based upon types, global virtual events market is classified into internal, external and extended. Based on services, the market is classified into communication, training, sales & marketing, recruitment and entertainment. Based on end-user, the global virtual events market is classified into educational institutes, enterprises, healthcare, organizations and others.
Virtual Events Market Segmentation:
By Types:
Internal
External
Extended
By Services:
Communication
Training
Sales and Marketing
Recruitment
Entertainment
By End-user:
Educational Institutes
Enterprises
Healthcare
Organizations
Others
Key Benefits of Virtual Events Market Report:
Virtual Events Market report covers in-depth historical and forecast analysis.
Virtual Events Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Virtual Events Market report helps to identify opportunities in marketplace.
Virtual Events Market report covers extensive analysis of emerging trends and competitive landscape.
There are 15 Chapters to display the Virtual Events market:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Global Virtual Events market, Applications, Market Segment by Types
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Virtual Events Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation[North America (Covered in Chapter 6 and 13), United States, Canada, Mexico, Europe (Covered in Chapter 7 and 13), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 8 and 13), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 9 and 13), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 10 and 13), Brazil, Argentina, Columbia, Chile & Others ], comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Global Virtual Events Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels
Chapter 13 and 14, about vendor landscape (classification and Market Ranking)
Chapter 15, deals with Global Virtual Events Market sales channel, distributors, Research Findings and Conclusion, appendix and data source.
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The article discusses the growth and trends in the Virtual Events Market from 2021 to 2027.
Key players include Adobe Systems, Microsoft Corporation, and Cisco Systems Inc.
Increased internet usage and the prevalence of COVID-19 are major growth drivers.
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