Press release
Global Virtual Event Platform Market: Accelerated Growth, Key Players, Market Size, CAGR and Trends towards 2029
Virtual Event Platform Market
What Is The Projected Market Size Of The Global Virtual Event Platform Market And Its Growth Rate?
The virtual event platform market holds immense potential, with significant growth anticipated:
• Market Size in 2024: $14.67 billion
• Market Size in 2025: $16.39 billion with 11.8% CAGR
• Projected Market Size in 2029: $31.79 billion with 18.0% CAGR
This growth can be attributed to factors such as digital transformation initiatives, the impact of COVID-19 pandemic, flexibility and scalability demand, and user engagement amongst others.
What Is Driving The Growth In The Virtual Event Platform Market?
The surge in online conferences, lectures, and events due to the global pandemic exigency substantially bolsters the growth of the virtual event platform. When terrestrial meetings were annulled, businesses pivoted to virtual meets using avant-garde technology to maintain connectivity and mitigate the impact of COVID-19. With increase in virtual conferences and events, platforms facilitating such engagements have gained traction. According to Kaltura's The State of Virtual Events 2022 survey, 92% organizers shifted to virtual events in 2021, 94% plan to continue the trend in 2022, and 48% plan to further increase the frequency of such events in 2023.
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Who Are the Key Players Driving Virtual Event Platform Market Growth?
Major players contributing to the dynamic growth of the virtual event platform market include:
• 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.)
• ON24 Inc.
• PheedLoop Inc.
• vFairs
• BigMarker Inc.
• Hopin Limited
• Airmeet Inc.
• Bizzabo Inc
• Intrado Corporation
• Swapcard SAS
• Hubilo Technologies Inc.
What Are The Key Trends In The Virtual Event Platform Market?
Key trends influencing the market include:
• Dynamic content formats
• Integration with social media platforms
• Improvements in accessibility and inclusivity
• Real-time collaboration tools
• Content distribution and monetization
• Enhanced security measures and multi-platform accessibility
• Incorporation of gamification elements
What Are The Segments Of The Global Virtual Event Platform Market?
The virtual event platform market incorporates various segments:
• By Component: Platform, Services, Training And Consulting, Support And Maintenance, Deployment And Integration
• By Organization Size: Large Enterprises, Medium-Size Enterprises, Small Enterprises
• By End-User: Non Profit, Government, Education, Healthcare And Lifesciences, Third Party Planner, Associations, Corporations
Which Region Leads The Virtual Event Platform Market?
In 2024, North America emerged as the dominant region in the virtual event platform market. Asia-Pacific, however, is projected to be the fastest-growing region, with Western Europe, Eastern Europe, South America, Middle East, and Africa also contributing to market growth.
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What Is Covered In The Virtual Event Platform Market Global Market Report?
- Market Size Analysis: Analyze the Virtual Event Platform Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Virtual Event Platform Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Virtual Event Platform Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Virtual Event Platform Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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