The virtual event platforms market is set for a rapid growth over the forecast period. In terms of revenue, the global virtual event platforms market accounted for USD 21.42 Billion in 2019 and is expected to reach USD 67.54 Billion by 2026, growing at a CAGR of 17.83%
During the period covered by this estimate, it is anticipated that the global market for virtual event platforms will expand at a compound annual growth rate (CAGR) of 17.83 (2021-2026).
The growing need for virtual event solutions across a variety of industries, including business-to-business, business-to-consumer, and internal events, is the primary factor driving this market.
It is anticipated that the spread of COVID-19 will increase the need for virtual events, and the growing demand for collaboration tools will also contribute to the expansion of the market.
It is also anticipated that the growing usage of virtual event platforms by organizations for their own internal events would further support the growth of the industry.
Adobe, Cvent, Eventbrite, Gatherly, Hopin, Microsoft, and Zoom are some of the most important companies competing in the market for virtual event platforms worldwide.
These suppliers provide a wide range of goods and services, including event management services, virtual event solutions, virtual event platforms, and virtual event software.
In addition to this, they offer support and maintenance services for the items they sell. These merchants are putting their attention into growing their customer base by releasing brand-new products and feature onto the market.
Segmentation OF Virtual Event Platforms Market
By Product –
By Application –
Academic Institutions, Enterprise/Corporates, Event Management Agencies, Trade Show Organizers, Others
By Regional Analysis
- North America ( United States)
- Europe ( Germany, France, UK)
- Asia-Pacific ( China, Japan, India)
- Latin America ( Brazil)
- The Middle East & Africa
The findings of the global Virtual Event Platforms research project are presented in a format that is straightforward and simple to comprehend in the global Virtual Event Platforms Market research report.
All new players in the global Virtual Event Platforms Market will find the report to be an invaluable resourceful guide.
It focuses on the synopsis of the global Virtual Event Platforms industry, which includes the application, all-encompassing classifications, and chain structure of the Virtual Event Platforms industry, in addition to the statistical data of the global Virtual Event Platforms industry.
During the process of compiling the global Virtual Event Platforms Market research report, careful consideration was given to the regional analysis, which included all of the region’s segments and subsegments as well.
It emphasizes the market-influencing factors such as drivers, restraints, and the market’s overall framework. The report on the Virtual Event Platforms Market emphasizes the most recent trends, developments, new opportunities, and covert tricks that are associated with the global Virtual Event Platforms Market.
Virtual Event Platforms Market Trends & Forecast
The global virtual event platforms market is expected to grow at a CAGR of 17.83% during the forecast period (2022-2028).
Factors such as the increasing adoption of digital technologies, the growing demand for virtual events, increased efficiency, and cost savings are driving the growth of the virtual event platforms market.
Additionally, the increasing usage of virtual events in corporate sectors due to the COVID-19 pandemic is also expected to contribute to the growth of the market.
The increasing adoption of virtual event platforms has resulted in the emergence of various virtual event platforms with new features and functionalities.
For example, the introduction of AI-powered virtual event platforms enables smart recommendations for event organizers and attendees.
Moreover, the rising demand for virtual events in the gaming sector is also expected to drive the growth of the virtual event platforms market.
However, the lack of technical expertise among users may hamper the growth of the virtual event platforms market. Additionally, the lack of personalization due to the lack of face-to-face interaction may act as a restraint to the growth of the market.
Global Virtual Event Platforms Market: Competitive Players
The major players in the global virtual event platforms market include
Cisco Systems Inc., Cvent Inc., Hubb LLC, Cadence, Livestorm SAS, ubivent GmbH, Whova, vFairs, Planning Pod, Pathable, Inc., Eventxtra, Intrado Corporation, MootUp, ALE International, Adobe Inc., EventsAir, VentureBeat, EventMobi, AIRMEET, and Zoom Video Communications, Inc. among others.