Virtual Events Platform Market Overview
A virtual event platform is an innovative way that is used to establish new connections for businesses around the world. The virtual event platforms are easy and user-friendly to organize and attend events.
The Virtual Events Platform Market provides high level of privacy and security for video-on-demand sessions with interactive tools such as Livestream Hosting, Multi-Livestream Support, Upvoting and Audience Q A, virtual booths for exhibitors and sponsors, and online events.
The growing adoption of unified communication as a service-based solution (UCAS) based solutions by various institutions and industries, including academia, allows employees and other resources to help engage in virtually all business processes and realize a more efficient and effective workflow, which is good for the growth of the market.
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Attributes |
Details |
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Virtual Events Platform Market Value (2022) |
US$ 138.3 Bn |
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Virtual Events Platform Market Projected Value (2032) |
US$ 1099.5 Bn |
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Virtual Events Platform Market CAGR (2022 – 2032) |
21.7 % |
Virtual Events Platform Market Dynamics
Growing adoption of virtual event platforms in the healthcare industry
The growing adoption of virtual event platforms in the healthcare industry for organising medical conferences and seminars is expected to increase the demand for virtual event platforms. In addition, the healthcare sector has seen its highest ever peak in webinars and digital meetings amid the COVID-19 pandemic, which has fuelled the growth of virtual event platform marketplaces.
Increase in popularity of online streaming to replace the in-person presentation
The global live-streaming market has seen a huge surge since the outbreak of the COVID-19 pandemic. It has proved to be an effective solution to avoid individual presentations and sessions. Many organizations are associated with sellers in the online entertainment marketplace like Netflix, Amazon Prime, Sony Liv, ZEE5, Disney+ Hotstar, Voot and Box. With the introduction of digitisation and video-on-demand services, customers are turning to live streaming services to stream their favourite concerts and events at the time of their choice, whenever and anywhere. Live streaming events can be auto-archived and replayed.
Inclusion of innovative technologies
With the inclusion of innovative technologies like Augmented Reality and Virtual Reality to allow 3D live streaming for digital events, the market demand is increasing. In August 2022, WorkoutLood, the lead provider of community engagement platforms, launched workoutloode venue, a new all-in-one, intuitive virtual event platform.
Restrains:
Lack of technological expertise in integrating virtual event software
The lack of technical expertise in integrating virtual event software, this factor is inhibiting the growth of the market. In addition, although most of the developed countries have highly developed communication infrastructure, some developing and underdeveloped countries lack the necessary communication infrastructure to support high-quality virtual programs. People in such countries rely more on audio-based communication software to avoid the frustration of low-quality video events due to unstable internet connections and switching bandwidth.
Virtual Events Platform Market Segmentation
Virtual Events Platform Market is segmented based on component, service, organization size, end user and region.
Virtual Events Platform Market, By Component
On the basis of Component, the Virtual Events Platform Market is segmented into Platform and Services. The services segment dominates the virtual event platform market. For example, the services section is essential for the easy deployment, integration and appropriate functioning of the virtual event platform.
Virtual Events Platform Market, By Service
On the basis of Service, the Virtual Events Platform Market is segmented into Communication, Recruitment, Sales & Marketing, Training. The revenue share of the communication segment stood at 35.9% in 2021 due to a significant increase in the number of digitally simulated gatherings. Communication solutions and tools are being used for events ranging from small meetings to large conferences.
Virtual Events Platform Market, By Organization Size
On the basis of Organization Size, the Virtual Events Platform Market is segmented into large enterprises, Medium-sized enterprises, small enterprises.
Virtual Events Platform Market, By End User
On the basis of End User, the Virtual Events Platform Market is segmented into BFSI, Corporations, Governments, Education, Healthcare, Third-party Planners, Associations, Non-Profit. The corporation's vertical has the largest market share in the virtual event platform market. The corporation covers aerospace and defence, pharmaceutical, technology, automotive, banking, financial services, insurance, business reference, energy and energy, engineering, food and agriculture, and law and law and legal.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On the basis of region, the Virtual Events Platform Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected hold the largest share in the global market.
As, rising need for an enhanced virtual event platforms and rapid adoption of cloud services boost the demand for visitor management system in this region.
Detailed Segmentation:
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Component - Platform and Services By Service - Communication, Recruitment, Sales & Marketing, Training By Organization Size - Large enterprises, Medium-sized enterprises, small enterprises By End User - BFSI, Corporations, Governments, Education, Healthcare, Third-party Planners, Associations, Non-Profit |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Virtual Events Platform Market report based on component, service, organization size, end user and region:
Virtual Events Platform Market, By Component:
- Platform
- Services
Virtual Events Platform Market, By Service:
- Communication
- Recruitment
- Sales & Marketing
- Training
Virtual Events Platform Market, By Organization Size:
- Large enterprises
- Medium-sized enterprises
- Small enterprises
Virtual Events Platform Market, By End User:
- BFSI
- Corporations
- Governments
- Education
- Healthcare
- Third-party Planners
- Associations
- Non-Profit
Virtual Events Platform Market, By Region:
- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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Virtual Events Platform Market Key Players
The key players operating the Virtual Events Platform Market includes,
- Zoom Video Communications, Inc., Zoom engages in the provision of video communications, inc, video-first communication platforms. The company offers meetings, chats, rooms, and workspaces, phone systems, video webinars, marketplaces, and developer platform products. It serves education, finance, government, and healthcare industries.
- Microsoft Corporation develops, licenses, and supports software, services, and solutions around the world. The company operates in three segments: productivity and business processes, intelligent cloud, and more personal computers. The Productivity and Business Processing Division provides office, exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organization and enterprise segments.
- Cisco system, Inc. is an integrator of purpose-based technologies in networking, security, collaboration, applications, and the cloud. The company's products and technologies help customers manage more users, equipment, and things connected to their networks.
- ALE International Company provides applications, platforms, equipment, management, and security products, as well as provides education, support, technology. Cloud Communication and Managed Services. ALE International serves customers, IT engineers, business operations, and executives around the world.
- XNUMX is a web-based event technology platform that enables businesses to organize virtual, hybrid or personal employment fairs, trade shows, conferences, summits, benefit fairs, elearning programs, and more. The scalable HTML5-based solution supports thousands of attendees who connect from any web-enabled device.
- An arcadin cloud communications provider of collaborative communication services, the company provides SAAS-based audio, internet protocol (IP) and video communication services, allowing organizations to collaborate using customized and cost-effective methods.
- Hubilo Softec Pvt Ltd develops and operates an online event management hub. The company offers digital marketing, ticketing, analytics, social media posts. E-mail campaigning and other services, Hubilo Soft started its business in India.
- Avaya Inc. provides solutions to enhance and simplify communication and cooperation and contact center solutions. The company focuses on cloud communications and multi-cloud application ecosystem to provide digital workplace and customer experience infrastructure for customers in about 191 countries worldwide.
- Livestorm SAS Company offers a browser-based platform that allows teams to organize their online events in one place, Provides all the tools needed to create custom landing pages from any device and to send promotional emails and reminders, host attractive online events with integrated chat, pole and Q&A functionality, and to analyze event performances through advanced analysis dashboards, enables businesses to incorporate videos into any form of communication, attracts, engages and educates their audiences.
- On24, Inc. is a global leader in webinars-based marketing solutions that promote demand creation and customer participation. Its patented cloud-based platform features interactive and immersive user interfaces and industry-leading analytics for events, campaigns, and benchmarking.
Virtual Events Platform Market Company Profile
- Zoom Video Communication*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Microsoft Corporation
- Cisco System Inc.
- ALE International
- XNUMX
- Arcadin Cloud Communications
- Hubilo Softec Pvt Ltd.
- Avaya Inc.
- Livestorm SAS
- On24, Inc.
“*” marked represents similar segmentation in order categories in the respective section
Recent Development:
- In May 2021, Zoom Video Communications, Inc. announced Zoom Events, an all-in-one platform with the power to create interactive and engaging virtual experiences available this summer. Zoom Events combines the reliability and scalability of Zoom meetings, chats and video webinars in a comprehensive solution for event organizers with the ability to create tickets, live events for an internal or external audience of any size.
- In November 2021, Mauritius, virtual and hybrid conference providers launched virtual conferences and networking solutions designed to enhance customer experience. The company is keen to build its network and community capabilities to help students around the world make the necessary connections and engage with conference content.
Virtual Events Platform Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Cell and Gene Therapy Strategies
- Key Questions this Study will Answer
- Market Snippet, By-Component
- Market Snippet, By Service
- Market Snippet, By Organization Size
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Virtual Events Platform Market, By Component, 2022-2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
- Y-o-Y Growth Analysis (%), 2022-2032
- Segment Trends
- Platform
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Overview
- Virtual Events Platform Market, Service, 2022-2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
- Y-o-Y Growth Analysis (%), 2022-2032
- Segment Trends
- Communication
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Recruitment
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Sale & Marketing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Training
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Overview
- Virtual Events Platform Market, Organization Size, 2022-2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
- Y-o-Y Growth Analysis (%), 2022-2032
- Segment Trends
- Large Enterprises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Medium-Sized Enterprises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Small enterprises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Overview
- Virtual Events Platform Market, End User, 2022-2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
- Y-o-Y Growth Analysis (%), 2022-2032
- Segment Trends
- BFSI
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Corporation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Governments
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Education
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Healthcare
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Third-party Planners
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Associations
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Non-Profit
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
- Overview
- Virtual Events Platform Market, By Region, 2022-2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
- Y-o-Y Growth Analysis (%), 2022-2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Component, 2022-2032
- Market Size and Forecast (US$ Bn), By Service, 2022-2032
- Market Size and Forecast (US$ Bn), By Organization Size, 2022-2032
- Market Size and Forecast (US$ Bn), By End User, 2022-2032
- Market Size and Forecast (US$ Bn), By Country, 2022-2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Component, 2022-2032
- Market Size and Forecast (US$ Bn), By Service, 2022-2032
- Market Size and Forecast (US$ Bn), By Organization Size, 2022-2032
- Market Size and Forecast (US$ Bn), By End User, 2022-2032
- Market Size and Forecast (US$ Bn), By Country, 2022-2032
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Component, 2022-2032
- Market Size and Forecast (US$ Bn), By Service, 2022-2032
- Market Size and Forecast (US$ Bn), By Organization Size, 2022-2032
- Market Size and Forecast (US$ Bn), By End User, 2022-2032
- Market Size and Forecast (US$ Bn), By Country, 2022-2032
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Component, 2022-2032
- Market Size and Forecast (US$ Bn), By Service, 2022-2032
- Market Size and Forecast (US$ Bn), By Organization Size, 2022-2032
- Market Size and Forecast (US$ Bn), By End User, 2022-2032
- Market Size and Forecast (US$ Bn), By Country, 2022-2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Component, 2022-2032
- Market Size and Forecast (US$ Bn), By Service, 2022-2032
- Market Size and Forecast (US$ Bn), By Organization Size, 2022-2032
- Market Size and Forecast (US$ Bn), By End User, 2022-2032
- Market Size and Forecast (US$ Bn), By Country, 2022-2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Zoom Video Communication
- Company Overview
- Product and Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Microsoft Corporation
- Cisco System Inc.
- ALE International
- XNUMX
- Arcadin Cloud Communication
- Hubilo Softtec Pvt Ltd
- Avaya Inc.
- Livestorm SAS
- On24, Inc.
- Zoom Video Communication
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Virtual Events Platform Market accounted for US$ 138.3 billion in 2022 and is estimated to be US$ 1099.5 billion by 2032 and is anticipated to register a CAGR of 21.7%.
The Virtual Events Platform Market is segmented based on component, service, organization size, end user and region.
The growing adoption of virtual event platforms in the healthcare industry for organising medical conferences and seminars is expected to increase the demand for virtual event platforms.
North America is expected hold the largest share in the global market.
The Key players operating in the Virtual Events Platform Market includes Zoom Vedio Communication., Microsoft Corporation, Cisco System Inc., ALE International, XNUMX, Arcadin Cloud Communications, Hubilo Softec Pvt Ltd., Avaya Inc., Livestorm SAS, On24, Inc.