Virtual Event Platform Market Report 2024-2033 | Size, Share, Trends, Growth Analysis

The virtual event platform market size has grown rapidly in recent years. It will grow from $13.27 billion in 2023 to $14.99 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to digital transformation initiatives, globalization and remote collaboration, covid-19 pandemic acceleration, need for flexibility and scalability, enhanced user engagement features..

The virtual event platform market size is expected to see rapid growth in the next few years. It will grow to $26.53 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to post-event analytics and measurement, integration with social media platforms, competitive landscape and innovation, enhanced accessibility and inclusivity, evolution of virtual trade shows and exhibitions.. Major trends in the forecast period include dynamic content formats, real-time collaboration tools, content distribution and monetization, focus on inclusivity, enhanced security measures, multi-platform accessibility, gamification elements..

Market Overview -
The virtual event platform refers to a tool which host interactive events such as conferences, trade expos, and workshops over the internet. The purpose of a virtual events platform is to broaden the audience base and create inclusivity. It also provides an efficient means of increasing revenue and tracking crucial data about the audience.

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Increasing Number Of Virtual Events Driving Growth Of Virtual Event Platform Market
An increasing number of online meetings, conferences, lectures, and events is expected to propel the growth of the virtual event platform. 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. Therefore, the rising number of virtual events, conferences, and lectures will drive the virtual event platform market growth.

Competitive Landscape -
Major companies operating in the virtual event platform market report are 6Connex Inc., Cvent Inc., Microsoft Corporation, Cisco Systems Inc., Zoom Video Communications Inc., Influitive Corporation, Whova Inc., OneCause Inc., Webex Events (formerly Socio), GoTo Webinar (LogMeIn Inc. ), BlueJeans Events (Verizon Business), ON24 Inc., PheedLoop Inc., vFairs, BigMarker Inc., HeySummit, Remo Inc., EventCube Inc., Tame Inc., Hopin Limited, Airmeet Inc., Accelevents Inc., Attendify Inc., Bizzabo Inc., Brella Productions Oy, Cadence Design Systems Inc., Crowdcast Inc., Intrado Corporation, Swapcard SAS, Hubilo Technologies Inc.

Ar And Vr Driving Growth Of Virtual Event Platform Market
The technological advancement in augmented reality (AR) and virtual reality (VR) is a key trend gaining popularity in the virtual events platform market. 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. This newly announced platform provides a comprehensive suite of realistic, interactive, and feature-assisted events that can be immediately modified with VR Spaces, NFT characters, and NFT features.

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Key Segments -

The virtual event platform market covered in this report 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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