Virtual Events Industry Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
The global virtual events industry size was valued at $57,715.1 million in 2019, and is projected to reach $701,392.4 million by 2028, registering a Compound Annual Growth Rate (CAGR) of 12.6% from 2021 to 2028. The entertainment segment was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 11.2% during the forecast period. North America held a leading position in the global market in 2019, and is expected to maintain its dominance in the future.
Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Manu-2Q73/Virtual_Events_Industry
The COVID -19 pandemic and the imposition of the lockdown and social distancing norm has been very beneficial to the Virtual Events Industry. Businesses all around the globe had been forced to use virtual channels of communication for purposes such as meetings, live showcases, product reveals, and more. As a result, the adoption of virtual events as a go to communication platform has been phenomenal.
Virtual events are digitally simulated proceedings such as meetings and conferences using web-based platforms that allow people to share information & discuss and solve problems virtually. Virtual webinar and conferences are held for the same reasons as that of the live events, for instance, to deliver a company's message to drive leads & revenue and build loyalty lifetime value. The Virtual Events Industry consists of organizers and suppliers that deal in the management and delivery of virtual conference, tradeshow/exhibition, webinar, company meetings, and other related events held to achieve a range of professional & business objectives. Virtual events are less expensive to run as compared to live events. According to the event planner, Wild Apricot, the number of organizations who were planning to run virtual event in 2019 has doubled in 2020, owing to the COVID-19 pandemic.
Get Regional Report: https://reports.valuates.com/request/regional/ALLI-Manu-2Q73/Virtual_Events_Industry
The growth of the Virtual Events Industry can be attributed to such events being very cost-effective. The cost-efficiency makes way to bring in large number of attendees from all over the globe to a purposeful gathering. Thus, increase in popularity of digitally simulated gatherings among event organizers and attendees due to their time efficacy is likely to fuel the market growth during the forecast period. Furthermore, virtual events help organizations reduce the overall cost associated with organizing a physical seminar, conference, or meeting as planners may save on venue, staff, meals, attendee's accommodation, and travel costs. Hence, organizations of all sizes are adopting virtual events instead of preferring physical events, as they are quick to arrange, inexpensive, and bring the relevant people for events. Thus, the abovementioned factors act as the key driving forces of the virtual events sector. However, virtual event is completely dependent on technology use. An event app or website with bad user experience (UX), a malfunctioning camera, or weak internet strength can all ruin the virtual event experience. These factors might lead to failure of virtual events; thereby, hampering the Virtual Events Industry growth.
Virtual Events Industry Segment Review
The Virtual Events Industry has been segmented on the basis of type, source, age group, and region. Based on type, the market is divided into webinar, conference, virtual expo fairs & festivals, entertainment, and others. On the basis of source, it is segmented into ticket sale, sponsorship, and others. Based on the age group, the market is classified into below 20 years, 21 to 40 years, and above 40 years.
Furthermore, it includes the revenue generated from the sales of virtual events across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, Ireland, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa)
Based on the Virtual Events Industry analysis by type, the entertainment segment was the largest segment in 2019, and is expected to remain dominant throughout the forecast period. This is attributed to the fact that virtual entertainment events are responsible for providing the general public with a variety of entertainment possibilities, including musical entertainment, live entertainment, mass media entertainment, and electronic entertainment. Thus, increase in popularity of these entertainment events is one of the key factors driving the entertainment segment growth.
Based on the Virtual Events Industry forecast by source, the sponsorship segment was the largest segment in 2019, and is expected to remain dominant throughout the forecast period as sponsorship serves as a powerful and effective marketing tool to increase and reinforce brand awareness among targeted niche markets. Moreover, it is the key for strong marketing, owing to the fact that most of the events use sponsorship support to offer more exciting programs and to help defray rising costs.
Based on age group, the 21 to 40 years segment was the largest segment in 2019, and is expected to remain dominant throughout the forecast period. This is attributed to the fact that this age group is majorly active in events such as exhibitions, conferences, seminars, and music concerts; thereby, augmenting the market growth.
By region, North America was the largest market in 2019, in terms of revenue generation, garnering almost one-third of the global Virtual Events Industry share. U.S. is further expected to expand at notable growth rate exhibiting the highest share throughout the forecast period. However, Asia-Pacific and LAMEA in the Virtual Events Industry are expected to witness notable growth during the forecast period. The growth in these regions can be attributed to improving business environment in the region.
Key players in the Virtual Events Industry have relied on strategies such as product launch and business expansion to expand their market share and to stay relevant in the global market. The key players in the virtual events industry profiled in the report are American Program Bureau Inc., Pace Digital, Revolution CMES, ShowCase Events, Target Exhibitions, TCJ Management Co. Ltd, The Collaborative Exchange, VietApps Co., Ltd., Morph Digital Solutions Private Limited, and London Filmed.
Virtual Events Industry Market by Type (Webinar, Virtual expo fairs and festivals, Entertainment, Conference, Others), by Source (Ticket Sale, Sponsorship, Others), by Age group (Below 20 years, 21 to 40 years, Above 40 years), by Platform (Web based software, XR Platform): Global Opportunity Analysis and Industry Forecast, 2021-2031
View Full Report: https://reports.valuates.com/reports/ALLI-Manu-2Q73/virtual-events-industry
U.S. (TOLL FREE) : +1 (315) 215-3225
India: +91 8040957137
Please reach us at email@example.com
Valuates offers an extensive collection of market research reports that helps companies to take intelligent strategical decisions based on current and forecasted Market trends.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Virtual Events Industry Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports here
News-ID: 3302729 • Views: …
More Releases from Valuates Reports
Desktop Humidor Market Research Report | Valuates Reports
The global Desktop Humidor market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Netherlands-Ukraine War were considered while estimating market sizes. Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-6E14235/Global_Desktop_Humidor_Market_Research_Report_2023 North American market for Desktop Humidor is estimated to increase from $ million in 2023 to reach $ million by 2029, at a
Augmentative and Alternative Communication (AAC) Devices Market: Size, Share, Gr …
Augmentative and Alternative Communication (AAC) Devices Market The global Augmentative and Alternative Communication (AAC) Devices market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes. View sample report https://reports.valuates.com/request/sample/QYRE-Auto-16C10001/Global_Augmentative_and_Alternative_Communication_AAC_Devices_Market_Insights_Forecast_to_2028 North American market for Augmentative and Alternative Communication (AAC) Devices is estimated to increase
Purpose Engines Market: Size, Share, Growth, Analysis, Key Players, Revenue, Gro …
General Purpose Engines Market According to new survey, global General Purpose Engines market is projected to reach US$ million in 2029, increasing from US$ million in 2022, with the CAGR of % during the period of 2023 to 2029. Key manufacturers engaged in the General Purpose Engines industry include Kawasaki, YAMAHA, KOHLER, Briggs & Stratton, GENERAC and HONDA, etc. Among those manufacturers, the top 3 players guaranteed % supply worldwide in
Exhaust Throttle Valve Market: Size, Share, Growth, Analysis, Key Players, Reven …
Exhaust Throttle Valve Market Exhaust throttle valve is a valve that controls fluid flow by changing the throttle section or throttle length. It can not only adjust the movement speed of the actuator, but also reduce the exhaust noise. According to QYResearch's new survey, global Exhaust Throttle Valve market is projected to reach US$ million in 2029, increasing from US$ million in 2022, with the CAGR of % during the period of
More Releases for Virtual
A Virtual Globe: stunning virtual events platform for every business .
Ultimately, the world as we know it has changed. Whether we accept it or not, the reality is that the way we work, regardless of your profession, has already shifted to a digital presence and is only a matter of time before this becomes the new norm. A Virtual Globe has launched its stunning virtual events platform that includes some really cool features such as Hybrid Mixed Reality and bespoke
Virtual Schools Market 2019 Analysis By Connections Education K12 Inc Mosaica Ed …
With the slowdown in world economic growth, the Virtual Schools industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Virtual Schools market size to maintain the average annual growth rate of X% from XXXX million $ in 2014 to XXXX million $ in 2017, BisReport analysts believe that in the next few years, Virtual Schools market size will be further expanded,
Alliance For Virtual Businesses Launches Virtual Assistants Chapter In Australia
On Friday 20 May 2011, International Virtual Assistants Day, Sharon Williams, founder of the Alliance for Virtual Businesses (A4VB) located in the USA, announced the opening of its Australian Chapter, A4VBAU. On Friday, 20 May 2011, Virtual Assistants from around the globe celebrated International Virtual Assistants Day, the annual day of recognition of the VA industry. During the celebration, Sharon Williams, founder of The Alliance for Virtual Businesses (A4VB), a US-based
Virtual Internet launches “On-Demand” Virtual Data Centers
LONDON, England Feb. 21, 2011 | Virtual Internet – Virtual Internet has announced a new cloud package called Virtual Data Centers which allow IT managers to virtualize their infrastructure “on-demand” via the Internet. The new self-service package allows managers to slice and dice a minimum of 10GB (or more) of physical disk space and/or physical memory into multiple configurations at will. Incorporating the best features of a private cloud and Infrastructure-as-a-Service (IaaS),
Caribbean Association Of Virtual Assistants Open Virtual Assistant Directory To …
CAVA Seeks Outside Assistance In Order To Meet Increased Demands For Virtual Assistants The Caribbean Association Of Virtual Assistants, the Caribbean’s leading association for virtual assistants is set to accept listings from virtual assistants the world over. The industry is still fairly new in the Caribbean and due to ever-increasing demands for the services provided by members of the association, the directors have made the decision to seek outside assistance. Virtual assistants
Virtual Assistants Become a Little Less Virtual
Toronto, Canada … North American Virtual Assistants and particularly Canadian VA’s have never before had the opportunity to meet and exchange views in this kind of forum and on Canadian soil. Barb Lang, a Toronto based Virtual Assistant specializing in Event Planning, saw a need for new and seasoned VA’s to meet in person in order to exchange ideas and business expertise in a mastermind / workshop type event.