Virtual Event Platform Market Size & Analysis Report by Enterprise Size, By End-use and By Region – Global Opportunities & Forecast 2021-2028
Virtual Event Platform Market Size & Analysis Report by Enterprise Size (Small & Medium-Sized Enterprises and Large Enterprises), By End-use (Enterprises, Healthcare, Education and Others) and By Region
The Virtual Event Platform Market is predicted to rise to USD 18,262 million by 2028, witnessing 12.7% CAGR during 2021-2028
Virtual Event Platform Market Overview
A virtual event platform helps the users to host virtual meetings, conferences, seminars, virtual sports events, online trade shows, and much more with relative ease. It provides facilities like one-to-one interactions and one-to-many interactions for the participants, making a virtual event platform unique.
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Major Virtual Event Platform Market Drivers
Digital platforms have made it easy for individuals to participate in any event irrespective of their location. This online platform has reduced the travel time for the individual from one place to another. Moreover, with the integration of Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI), online communication and collaborative activities are boosting the growth of this market. Additionally, companies are also launching new solutions to tackle the rising need for the business that incorporate various networking tools for smooth collaboration and communication between internal teams. For instance, Avaya Inc. entered into partnership with TBI, Inc. to improve and strengthen communication and collaboration solutions for its providers.
Restraint in the Virtual Event Platform Market
However, online platform software subscription is high which acts a restraining factor. Additionally, weak internet connection and lack of awareness regarding the use of online platform also restrain the growth of this market.
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Enterprise Size – Segment Analysis
Based on the Enterprise Size, Small & Medium Enterprise is expected to grow at a higher CAGR rate in the global Virtual Event Platform Market during the forecast period due to the high adoption of cloud services among small and medium enterprises. These companies have limited budget for sales and marketing activities. Thus, adopting virtual event platform technology helps the enterprises to reduce the overall cost for organizing physical conferences, seminars, meetings, etc.
End-use – Segment Analysis
Based on the End-use, the enterprises segment is projected to grow at a higher CAGR rate in the global Virtual Event Platform Market during the forecast period due to the rising adoption of digital platforms by various public and private corporates, boosting the growth of this segment. It uses online platforms to promote its business, collaborate with its customers, and numerous other business purposes.
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Regional – Segment Analysis:
Based on the region, the Asia-Pacific region is expected to grow at a higher CAGR rate in the global Virtual Event Platform Market during the forecast period due to the rising adoption of digital platforms for communication purposes. The growing demand for high-speed internet and 5G network deployment in the region will further boost the growth of this market in this region. Moreover, rising numbers of new start-ups related to, Health care, Education such as BYJU’S, Brainly, Classplus etc. in this region will boost the growth of this market.
Top Market Players
Various notable players operating in the market, include, Microsoft, VFairs, BigMarker, Kestone, Hubilo Technologies Inc., Samaaro, Intrado Corporation, Zoom Video Communications, Inc., Ibentos, Cisco, among others.
Key Developments:
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- In Sep 2020, Microsoft Corporation introduced Azure Communications Services and is the first fully managed communication platform from a leading cloud provider.
- In April 2020, Hubilo, an event management company launched the new Virtual Event Platform to host the events online. This will help in making it easy for event organizers to switch from physical to virtual platforms.
Segments covered in the Report:
The global Virtual Event Platform Market has been segmented on the basis of Enterprise Size, End-use and regions. Based on Enterprise Size, the market is segmented into Small & Medium-Sized Enterprises and Large Enterprises. Based on End-use, the market is segmented into Enterprises, Healthcare, Education and Others.
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|
Report Coverage |
Details |
| Market Base Year |
2020 |
| Market Forecast Period |
2021-2028 |
| Market Revenues (2020) |
USD 18,262 Million |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Enterprise Size, By End-use, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | Microsoft, VFairs, BigMarker, Kestone, Hubilo Technologies Inc., Samaaro, Intrado Corporation, Zoom Video Communications, Inc., Ibentos, Cisco, among others; a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Virtual Event Platform Market by Enterprise Size
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- Small & Medium-Sized Enterprises
- Large Enterprises
Global Virtual Event Platform Market by End-use
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- Enterprises
- Healthcare
- Education
- Others
Global Virtual Event Platform Market by Region
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North America Virtual Event Platform Market (Option 1: As a part of the free 25% customization)
- North America Virtual Event Platform Market by Enterprise Size
- North America Virtual Event Platform Market by End-use
- US Virtual Event Platform Market All-Up
- Canada Virtual Event Platform Market All-Up
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Europe Virtual Event Platform Market (Option 2: As a part of the free 25% customization)
- Europe Virtual Event Platform Market by Enterprise Size
- Europe Virtual Event Platform Market by End-use
- UK Virtual Event Platform Market All-Up
- Germany Virtual Event Platform Market All-Up
- France Virtual Event Platform Market All-Up
- Spain Virtual Event Platform Market All-Up
- Rest of Europe Virtual Event Platform Market All-Up
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Asia-Pacific Virtual Event Platform Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Virtual Event Platform Market by Enterprise Size
- Asia-Pacific Virtual Event Platform Market by End-use
- China Virtual Event Platform Market All-Up
- India Virtual Event Platform Market All-Up
- Japan Virtual Event Platform Market All-Up
- Rest of APAC Virtual Event Platform Market All-Up
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RoW Virtual Event Platform Market (Option 4: As a part of the free 25% customization)
- RoW Virtual Event Platform Market by Enterprise Size
- RoW Virtual Event Platform Market by End-use
- Brazil Virtual Event Platform Market All-Up
- South Africa Virtual Event Platform Market All-Up
- Saudi Arabia Virtual Event Platform Market All-Up
- UAE Virtual Event Platform Market All-Up
- Rest of world (remaining countries of the LAMEA region) Virtual Event Platform Market All-Up
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Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Microsoft
- VFairs
- BigMarker
- Kestone
- Hubilo Technologies Inc.
- Samaaro
- Intrado Corporation
- Zoom Video Communications, Inc.
- Ibentos
- Cisco
Frequently Asked Question About This Report
Virtual Event Platform Market [UP2620-001001]
The growth rate of Virtual Event Platform Market during forecast period is 12.7%.
The top players in the Virtual Event Platform Market are, Microsoft, VFairs, BigMarker, Kestone, Hubilo Technologies Inc., Samaaro, Intrado Corporation, Zoom Video Communications, Inc., Ibentos, Cisco, among others.
The Asia-Pacific region is expected to grow at a higher CAGR rate in the Virtual Event Platform Market during the forecast period due to the rising adoption of digital platforms for communication purposes.
The enterprises segment is projected to grow at a higher CAGR rate in the Virtual Event Platform Market during the forecast period due to the rising adoption of digital platforms by various public and private corporates, boosting the growth of this segment.
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