Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
The global virtual events market is expected to exhibit strong growth during 2021-2026. A virtual event refers to a web-based event that involves individuals interacting in a virtual space through smartphones, laptops, desktop computers and tablets. It consists of breakout sessions, video and web conferencing, virtual collaboration and social networking. In this kind of set-up, the participants are not physically present at one location but are connected in a common environment through the internet. In comparison to the traditionally used conferencing tools, virtual events offer a personalized experience, are highly cost-effective and enhance the audience reach of an organization. Owing to this, it finds extensive applications across various sectors, including corporate, healthcare, education, hospitality and banking, financial services and insurance (BFSI).
Rapid urbanization and increasing adoption of virtual infrastructure, tools and services by organizations across the globe, is one of the key factors driving the growth of the market. There has been widespread adoption of virtual events, especially by small and large-scale organizations, for various purposes, including event marketing, content and social media development, access management, event outsourcing and analytics. There is also an integration of various other interactive tools, such as polling, chats, forums and live questions and answers (Q&A), to enhance the efficiency of the events. Furthermore, various technological advancements, such as the emergence of software-as-a-service (SaaS)-based virtual events, are creating a positive impact on the market. These tools enable organizations to offer a unique interactive experience to their users and improve the overall sales experience through instant messaging, podcasting and virtual product experience. Other factors, including the emerging trend of digitization, along with the widespread utilization of audio and video conferencing for recruitment purposes, are projected to drive the market further. Looking forward, IMARC Group expects the global virtual events market to grow at a CAGR of around 25% during the forecast period (2021-2026).
Breakup by Type:
Video Conferencing and Unified Communications & Collaborations
Breakup by Solution Type:
Webinars and Enterprise Streaming
Networking and Collaborations
Content Sharing and Media Development
Breakup by Application:
Online Education Programs
Virtual Reality Exhibitions
Breakup by End-Use:
Finance and Banking
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 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., etc.
Key Questions Answered in This Report:
How has the global virtual events market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global virtual events market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the solution type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global virtual events market and who are the key players?
What is the degree of competition in the industry?
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