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Elevating Experiences: The Latest Trends in the Virtual Event Platform Market || 6Connex, Cvent Inc., Microsoft Corporation, Cisco Systems Inc
Virtual Event Platform Market
The Business Research Company's Virtual Event Platform Global Market Report 2023 identifies the increasing number of online meetings, conferences, lectures, and events is the major driver for the virtual event platform market's growth in the forecast period. The emergence of a global pandemic presented new challenges for corporates to conduct meetings and events. When in-person meetings had to be cancelled, businesses had to immediately switch to virtual meetings using cutting-edge technology to facilitate connectivity and reduce the impact of COVID-19 disease. Due to this sudden shift towards virtual conferences and events, the use of virtual event platforms has increased. For instance, according to Kaltura's The State of Virtual Events 2022 survey report, a global survey of around 1250 organizers and attendees, 92% of organizers shifted to virtual events in 2021, 94% plan for virtual events in 2022, and 48% plan to increase the number of virtual events in 2023.
The global virtual event platform market size will grow from $11.99 billion in 2022 to $13.82 billion in 2023 at a compound annual growth rate (CAGR) of 15.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the virtual event platform is expected to grow to $23.57 billion in 2027 at a CAGR of 14.3%.
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Major competitors in the virtual event platform market are 6Connex, Cvent Inc., Microsoft Corporation, Cisco Systems Inc., Zoom Video Communications, Hubilo, Vfairs, BigMarker, Hopin, Remo, Kestone, Accelevents, Whova.
A key trend in the virtual event platform market includes technological advancement in augmented reality (AR) and virtual reality (VR). Major companies operating in the virtual event platform market are focused on providing a technologically advanced platform to strengthen their market position. These companies are implementing next-generation virtual event platform technologies into their platforms, such as CRM, video API, text API, AI and ML, and others. The AR and VR technologies enable users to interact and manipulate 3D models projected into a real-world environment to enhance a fictional reality. For instance, in January 2022, VRXtream, an immersive event platform, introduced the Metaverse platform for events, connected with the NFT marketplace with equipped AR and VR technologies.
Read More On The Global Virtual Event Platform Market Report Here: https://www.thebusinessresearchcompany.com/report/virtual-event-platform-global-market-report
The virtual event platform market is segmented -
1) By Component: Platform, Services, Training and Consulting, Support and Maintenance, Deployment and Integration
2) By Organization Size: Large Enterprises, Medium-Size Enterprises, Small Enterprises
3) By End-User: Non-Profit, Government, Education, Healthcare and Lifesciences, Third Party Planner, Associations, Corporations
4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the virtual event platform market.
The Business Research Company's "Global Virtual Event Platform Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Virtual Event Platform Market Include:
1. Executive Summary
2. Virtual Event Platform Market Characteristic
3. Virtual Event Platform Market Trends And Strategies
4. Virtual Event Platform Market - Macro Economic Scenario
5. Virtual Event Platform Market Size And Growth
……………
27. Virtual Event Platform Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Virtual Event Platform Market
29. Virtual Event Platform Market Future Outlook And Potential Analysis
30. Appendix
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