List of Top Virtual Events Companies in the Worldwide 2024 | IMARC Group

Virtual Events Market Overview:

Virtual events are online gatherings facilitated by digital platforms, allowing participants to interact, share content, and engage in activities remotely. Unlike traditional in-person events, virtual events transcend geographical boundaries, enabling global participation with just an internet connection. It involves everything from cultural festivals and online workshops to trade shows, webinars, and virtual conferences. Virtual reality (VR), augmented reality (AR), video conferencing (VC) tools, and custom event platforms, which include features like live streaming, chat rooms, polls, and question and answer (Q&A) sessions, are the key technologies underlying virtual events.

How Big is the Virtual Events Market:

• Market Size Value in 2023: US$ 171.4 Billion
• Industry Revenue Forecast in 2032: US$ 889.0 Billion
• Growth Rate: CAGR of 19.5%
• Base Year of Estimation: 2023
• Historical Data: 2018-2023
• Future Forecast Period: 2024-2032

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Virtual Events Trends and Growth:

The key players in the virtual events market are engaging in various strategies to enhance their offerings and expand their market presence. It encompasses partnerships, acquisitions, technological developments, and service diversification to meet the needs of a wider range of users and industries. Moreover, players such as Toshiba Corporation, Huawei Technologies Co., and Microsoft Corporation, Ltd. are at the forefront of advancement and innovation, leveraging their platforms to facilitate seamless virtual interactions that closely mimic the dynamics of in-person events. For instance, Microsoft Corporation has turned its Microsoft Teams; collaboration tool into an all-encompassing platform that adds value to virtual events. Having features such as Together mode that enables users to feel as if they were in a common place even when they are not or its utilization for smaller groups during conferences through breakout rooms has made Microsoft Teams indispensable for event organizers longing for interactive and immersive experiences.

Similarly, Cisco's Webex also uses artificial intelligence (AI) to help in enhancing user engagement, as well as personalization during virtual events via gesture recognition, automatic transcriptions, and live translations. Through integrating augmented reality (AR) and virtual reality (VR) technologies into its sessions, Webex has been able to offer more dynamic and appealing presentations, thus increasing consumer engagement. Apart from this, the launch of new startups and the entry of well-known tech companies have increased competition in this burgeoning virtual events sector. These companies are continually transforming to capture the interest of diverse markets, including education, healthcare, and professional services, which have increasingly relied on virtual events during and post the COVID-19 pandemic.

Top Companies in Virtual Events Market:

• Adobe Inc.
• Alcatel-Lucent
• Atlassian
• Avaya Holdings Corp.
• Broadsoft Inc.
• Cisco Systems Inc.
• Citrix Systems Inc.
• Huawei
• International Business Machines
• Microsoft Corporation
• Mitel Networks
• Toshiba Corporation
• Zoom Video Communications Inc.

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