The global virtual event platform market size is valued at over USD 10 billion in 2021 and expected to witness a significant CAGR of around 13% during the forecast period 2021 to 2027. The rising adoption of Unified Communication as a Service (UCaaS) in various organizations, the growing popularity of online streaming, and the increasing trend of remote working approaches in various industries are some of the major factors to drive the market growth. Furthermore, the rising adoption of digital media platforms and the gaining popularity of cloud services in small & medium enterprises are further expected to boost the market. Moreover, the technological advancement, cost-effectiveness, and increasing penetration of smartphones are expected to fuel the market growth over the forecast period.
Market Drivers:
COVID-19 Pandemic and Shift to Virtual Events: The COVID-19 pandemic has significantly accelerated the adoption of virtual event platforms. With restrictions on in-person gatherings and travel, organizations across industries have turned to virtual events as an alternative to physical conferences, trade shows, and meetings. The need to maintain business continuity and engage with audiences remotely has led to a surge in demand for virtual event platforms.
Global Reach and Cost Savings: Virtual event platforms offer the advantage of global reach, enabling participants from anywhere in the world to attend events without the need for travel. This accessibility eliminates geographical barriers and expands audience reach. Additionally, virtual events often come at a lower cost compared to physical events, as they eliminate expenses associated with venue rentals, travel, accommodation, and logistics. The cost-saving potential of virtual events is a significant driving factor for the adoption of virtual event platforms.
Enhanced Attendee Engagement and Interaction: Virtual event platforms provide interactive features that enhance attendee engagement and interaction. These platforms offer functionalities such as live chat, Q&A sessions, networking opportunities, virtual exhibitor booths, and gamification elements. Attendees can actively participate, network with peers, and engage with event content in real-time, creating a more immersive and interactive experience compared to traditional events.
Analytics and Data Insights: Virtual event platforms provide valuable analytics and data insights to event organizers. These platforms capture attendee data, engagement metrics, session attendance, and other behavioral insights. Event organizers can leverage this data to understand attendee preferences, measure event success, and optimize future events. The availability of data-driven insights is a driving factor for organizations seeking to improve event planning, marketing strategies, and overall event performance.
Flexibility and Scalability: Virtual event platforms offer flexibility and scalability to accommodate events of various sizes and formats. Whether it’s a small seminar, a large conference, or a series of events, virtual event platforms can be customized and scaled to meet the specific needs of the event. This flexibility allows organizers to adapt and tailor the virtual event experience to suit their goals and audience, driving the adoption of virtual event platforms.
Technological Advancements and Innovation: Advancements in technology, such as improved video streaming, virtual reality (VR), augmented reality (AR), and 3D visualization, have enhanced the capabilities of virtual event platforms. These technologies enable more immersive and engaging virtual event experiences, further driving the demand for virtual event platforms. Continuous innovation in virtual event platforms is expanding the possibilities and driving market growth.
Sustainability and Environmental Considerations: Virtual events have a smaller carbon footprint compared to physical events, as they reduce the need for travel, venue space, and printed materials. Organizations that prioritize sustainability and environmental responsibility are turning to virtual event platforms as a greener alternative. The focus on sustainability and reducing environmental impact is a driving factor for the adoption of virtual event platforms.
Market Snapshot:
| Benchmark Year | 2022 | ||
| Market Size | > USD 10 Billion in 2021 | ||
| Market Growth (CAGR) | ~ 13% (2023-2030) | ||
| Largest Market Share | North America | ||
| Analysis Period | 2020-2030 | ||
| Market Players | 6Connex, ALIVE, ALE International, BIGMARKER, and Avaya Inc. |
Market Insights:
The global virtual event platform market is bifurcated into component, organization size, end-use, and geography. On the basis of organization size, the market is further segmented into large, medium-sized, and small enterprises. The large enterprises segment dominated the global market in 2020 and is estimated to hold the largest revenue share of around half of the market by the end of the analysis period. The increasing demand for digital platforms in large enterprises is one of the key factor to drive the segment growth. Furthermore, the increasing trend of remote working approaches and the rising adoption of local strategies with employees, customers, and other stakeholders across multiple geographies is further expected to boost the segment growth.
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The virtual event platform comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The virtual event platform market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2018-19 – Historical Year
- 2020 – Base Year
- 2021-2027 – Forecast Period
Market Segmentation:
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-Use:
- Enterprise/Corporates
- Event Management Agencies
- Academic Institutions
- Trade Show Organizers
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Geographic Coverage
Geographically, North America dominated the global virtual event platform market in 2020 and is estimated to maintain its dominance over the forecast period. The strong economical position, technological advancement, and advanced digital infrastructure are some of the major factors to drive the market in the region. Furthermore, the early adoption of new technologies, increasing adoption of digital media marketing platforms, and the presence of major market players are further anticipated to fuel the market in North America. On the flip side, the APAC is expected to register the fastest growth rate in the market due to the increasing adoption of virtual event platforms by various industries.
Competitive Assessment
Some of the leading market players operating in the global virtual event platform market are 6Connex, ALIVE, ALE International, BIGMARKER, and Avaya Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- 6Connex
- ALIVE
- ALE International
- BIGMARKER
- Avaya Inc.
- Cvent Inc.
- Cisco Systems, Inc.
- HUBILO
- HOPIN
- ON24
Key Questions Answered by Virtual Event Platform Market Report
- Global virtual event platform market forecasts from 2021-2027
- Regional virtual event platform market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
- Virtual event platform submarket forecasts from 2021-2027 covering the market by component, by organization size, by end-use, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about virtual event platform market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level virtual event platform markets from 2021-2027
- Competitive Landscape and market positioning of top 10 players operating in the virtual event platform market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Virtual Event Platform Market Portraiture
2.2. Global Virtual Event Platform Market, by Component, 2020 (USD Mn)
2.3. Global Virtual Event Platform Market, by Organization Size, 2020 (USD Mn)
2.4. Global Virtual Event Platform Market, by End-Use, 2020 (USD Mn)
2.5. Global Virtual Event Platform Market, by Geography, 2020 (USD Mn)
3. Global Virtual Event Platform Market Analysis
3.1. Virtual Event Platform Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Virtual Event Platform Market By Component, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Platform
4.3. Services
4.3.1. Training and Consulting
4.3.2. Support and Maintenance
4.3.3. Deployment and Integration
5. Global Virtual Event Platform Market By Organization Size, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Large Enterprises
5.3. Medium-size Enterprises
5.4. Small Enterprises
6. Global Virtual Event Platform Market By End-Use, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. Enterprise/Corporates
6.3. Event Management Agencies
6.4. Academic Institutions
6.5. Trade Show Organizers
6.6. Others
7. North America Virtual Event Platform Market Analysis and Forecast, 2018 – 2027 (USD Mn)
7.1.1. Overview
7.1.2. North America Virtual Event Platform Market by Component (2018-2027 USD Mn)
7.1.3. North America Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
7.1.4. North America Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
7.1.5. North America Virtual Event Platform Market by Country (2018-2027 USD Mn)
7.1.5.1. U.S.
7.1.5.1.1. U.S. Virtual Event Platform Market by Component (2018-2027 USD Mn)
7.1.5.1.2. U.S. Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
7.1.5.1.3. U.S. Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
7.1.5.2. Canada
7.1.5.2.1. Canada Virtual Event Platform Market by Component (2018-2027 USD Mn)
7.1.5.2.2. Canada Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
7.1.5.2.3. Canada Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8. Europe Virtual Event Platform Market Analysis and Forecast, 2018 – 2027 (USD Mn)
8.1.1. Overview
8.1.2. Europe Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.3. Europe Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.4. Europe Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8.1.5. Europe Virtual Event Platform Market by Country (2018-2027 USD Mn)
8.1.5.1. Germany
8.1.5.1.1. Germany Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.5.1.2. Germany Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.5.1.3. Germany Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8.1.5.2. U.K.
8.1.5.2.1. U.K. Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.5.2.2. U.K. Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.5.2.3. U.K. Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8.1.5.3. France
8.1.5.3.1. France Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.5.3.2. France Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.5.3.3. France Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8.1.5.4. Italy
8.1.5.4.1. Italy Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.5.4.2. Italy Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.5.4.3. Italy Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
8.1.5.5. Rest of Europe
8.1.5.5.1. Rest of Europe Virtual Event Platform Market by Component (2018-2027 USD Mn)
8.1.5.5.2. Rest of Europe Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
8.1.5.5.3. Rest of Europe Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
9. Asia Pacific Virtual Event Platform Market Analysis and Forecast, 2018 – 2027 (USD Mn)
9.1.1. Overview
9.1.2. Asia Pacific Virtual Event Platform Market by Component (2018-2027 USD Mn)
9.1.3. Asia Pacific Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
9.1.4. Asia Pacific Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
9.1.5. Asia Pacific Virtual Event Platform Market by Country (2018-2027 USD Mn)
9.1.5.1. China
9.1.5.1.1. China Virtual Event Platform Market by Component (2018-2027 USD Mn)
9.1.5.1.2. China Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
9.1.5.1.3. China Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
9.1.5.2. Japan
9.1.5.2.1. Japan Virtual Event Platform Market by Component (2018-2027 USD Mn)
9.1.5.2.2. Japan Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
9.1.5.2.3. Japan Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
9.1.5.3. Rest of Asia Pacific
9.1.5.3.1. Rest of Asia Pacific Virtual Event Platform Market by Component (2018-2027 USD Mn)
9.1.5.3.2. Rest of Asia Pacific Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
9.1.5.3.3. Rest of Asia Pacific Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
10. Latin America (LATAM) Virtual Event Platform Market Analysis and Forecast, 2018 – 2027 (USD Mn)
10.1.1. Overview
10.1.2. Latin America Virtual Event Platform Market by Component (2018-2027 USD Mn)
10.1.3. Latin America Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
10.1.4. Latin America Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
10.1.5. Latin America Virtual Event Platform Market by Country (2018-2027 USD Mn)
10.1.5.1. Brazil
10.1.5.1.1. Brazil Virtual Event Platform Market by Component (2018-2027 USD Mn)
10.1.5.1.2. Brazil Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
10.1.5.1.3. Brazil Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
10.1.5.2. Mexico
10.1.5.2.1. Mexico Virtual Event Platform Market by Component (2018-2027 USD Mn)
10.1.5.2.2. Mexico Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
10.1.5.2.3. Mexico Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
10.1.5.3. Rest of Latin America
10.1.5.3.1. Rest of Latin America Virtual Event Platform Market by Component (2018-2027 USD Mn)
10.1.5.3.2. Rest of Latin America Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
10.1.5.3.3. Rest of Latin America Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
11. Middle East and Africa Virtual Event Platform Market Analysis and Forecast, 2018 – 2027 (USD Mn)
11.1.1. Overview
11.1.2. MEA Virtual Event Platform Market by Component (2018-2027 USD Mn)
11.1.3. MEA Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
11.1.4. MEA Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
11.1.5. Middle East and Africa Virtual Event Platform Market, by Country (2018-2027 USD Mn)
11.1.5.1. GCC
11.1.5.1.1. GCC Virtual Event Platform Market by Component (2018-2027 USD Mn)
11.1.5.1.2. GCC Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
11.1.5.1.3. GCC Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
11.1.5.2. South Africa
11.1.5.2.1. South Africa Virtual Event Platform Market by Component (2018-2027 USD Mn)
11.1.5.2.2. South Africa Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
11.1.5.2.3. South Africa Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
11.1.5.3. Rest of MEA
11.1.5.3.1. Rest of MEA Virtual Event Platform Market by Component (2018-2027 USD Mn)
11.1.5.3.2. Rest of MEA Virtual Event Platform Market by Organization Size (2018-2027 USD Mn)
11.1.5.3.3. Rest of MEA Virtual Event Platform Market by End-Use (2018-2027 USD Mn)
12. Company Profiles
12.1. 6Connex
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. ALIVE
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. ALE International
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. BIGMARKER
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Avaya Inc.
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Cvent Inc.
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. Cisco Systems, Inc.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. HUBILO
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. HOPIN
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. ON24
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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