Global Virtual Events Market 2017-2021
About virtual events
Virtual events are online exhibitions that include breakout sessions, video conferencing, web conferencing, collaboration tools, communication, and social networking. They are used in various sectors such as education, healthcare, hospitality, and finance and banking. Virtual events can be enabled on smartphones, desktops, laptops, and tablets. They can be used to announce the launch of new products, provide additional information to people, and obtain new vendors. The exhibit below represents the differences between physical events and virtual events.
Technavio’s analysts forecast the global virtual events market to grow at a CAGR of 21.97% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global virtual events market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Virtual Events Market 2017-2021
Technavio recognizes the following companies as the key players in the global virtual events market: Adobe Systems, Avaya, Cisco Systems, Citrix Systems, IBM, and Microsoft.
Other Prominent Vendors in the market are: 8x8, Mitel Networks, Alcatel-Lucent, Atlassian, BroadSoft, COREX (PTY), Huawei Technologies, Toshiba, ubivent, and Zoom Video Communications.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing popularity of virtual events in education. The usage of virtual classrooms to impart education is becoming popular, even in traditional educational institutions. This type of training provides study sessions to students anytime and anywhere. In addition, students get free educational sessions that aid in reducing expenses and improving their knowledge.”
According to the report, one of the major drivers for this market is rise in number of corporate events. Organizations hold corporate events for their employees, business partners, and clients. Events are also organized to launch and promote new products and to celebrate the success of the existing products and services. In addition, events are organized to nurture customer relationships and to foster client relations. Delegates expect meetings and events to be organized with efficient time management.
Further, the report states that one of the major factors hindering the growth of this market is emerging threat from open-source virtual events solutions. Open-source solutions are offering solid competition for commercial enterprise event management software. The open-source software can be downloaded and run on all platforms. As the purchasing and licensing costs of the commercial event management software is high, several micro and small-scale enterprises and individual users opt for open-source products, which are freely available on the Internet. The availability of open-source event management software is a major challenge for the propriety event management as a service vendor.
Adobe Systems, Avaya, Cisco Systems, Citrix Systems, IBM, Microsoft, 8x8, Mitel Networks, Alcatel-Lucent, Atlassian, BroadSoft, COREX (PTY), Huawei Technologies, Toshiba, ubivent, Zoom Video Communications.