Virtual Events Market
Virtual Events Market Forecasts to 2030 - Global Analysis By Platform (Web-Based Platforms and Extended Reality Solutions), Component (Software and Services), Deployment Type, Event Type, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $119.1 BN |
|
Projected Year Value (2030) |
US $383.3 BN |
|
CAGR (2024-2030) |
21.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Virtual Events Market is accounted for $119.1 billion in 2024 and is expected to reach $383.3 billion by 2030 growing at a CAGR of 21.5% during the forecast period. Virtual events refer to online activities that enable individuals to participate in a virtual environment through an online platform. The events can resemble in-person ones, like conferences, trade shows, webinars, and meetings. Virtual events can host worldwide participation without one having to travel. With various technologies like live streaming, chat, and virtual reality, engagement, networking, and collaboration will be made relatively easy. Virtual events are cheaper, accessible, and friendly to the environment.
According to the EventMB study, 45% of professionals planned to attend more online conferences and webinars.
Market Dynamics:
Driver:
Increased adoption of digital platforms
The rising adoption of digital platforms is a significant driver for the virtual events market. Businesses, educational institutions, and entertainment providers increasingly rely on virtual platforms to host webinars, conferences, and live-streamed events. This shift is fueled by advancements in internet connectivity, video streaming technologies, and the growing preference for cost-effective, scalable solutions. The flexibility and global reach offered by digital platforms make them indispensable for organizations aiming to engage larger audiences and reduce operational costs.
Restraint:
Lack of personal interaction
The lack of personal interaction in virtual events remains a major restraint for the market. Unlike in-person gatherings, virtual events often fail to replicate the emotional connection and networking opportunities provided by physical events. This limitation can lead to lower engagement levels and reduced attendee satisfaction. Despite technological advancements like virtual reality (VR) and interactive features, the inability to fully mimic face-to-face interactions continues to challenge the widespread adoption of virtual events.
Opportunity:
Increased adoption in developing economies
Developing economies present significant growth opportunities for the virtual events market. With improving internet infrastructure and rising smartphone penetration, countries in Asia-Pacific, Latin America, and Africa are rapidly adopting digital platforms. Governments and businesses in these regions are leveraging virtual events for education, corporate training, and marketing initiatives. The cost-effectiveness and accessibility of virtual platforms make them highly appealing in resource-constrained environments, driving market expansion.
Threat:
Regulatory and compliance issues
Regulatory and compliance issues pose a threat to the virtual events market. Data privacy concerns, cybersecurity risks, and compliance with regional laws such as GDPR in Europe or CCPA in California are critical challenges for platform providers. Failure to address these issues can lead to legal penalties, reputational damage, and loss of customer trust. As the market grows, ensuring robust security measures and regulatory compliance will be essential for sustained success.
Covid-19 Impact:
The COVID-19 pandemic significantly accelerated the growth of the virtual events market as lockdowns and social distancing measures forced businesses to adopt online platforms. Virtual meetings, webinars, and conferences became essential tools for communication during this period. Even post-pandemic, the convenience, cost savings, and global reach offered by virtual events have ensured their continued popularity across industries.
The web-based platforms segment is expected to be the largest during the forecast period
The web-based platforms segment is expected to account for the largest market share during the forecast period due to its widespread availability and user-friendly nature. These platforms provide customizable features such as live streaming, chat options, and analytics tools that cater to diverse event types. Their compatibility with multiple devices makes them accessible to a broader audience. As businesses prioritize cost-effective solutions with global reach, web-based platforms remain a preferred choice for hosting virtual events.
The cloud-based segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the cloud-based segment is expected to witness the highest CAGR due to its scalability, flexibility, and enhanced security features. Cloud-based solutions allow real-time data access and seamless integration with other enterprise tools. Their ability to handle large-scale events with minimal latency makes them ideal for global conferences or hybrid formats. The rising demand for sustainable business practices further drives their adoption across industries.
Region with largest share:
The North America region is anticipated to account for the largest market share during the forecast period due to its advanced technological infrastructure and early adoption of digital solutions. The presence of major tech companies like Zoom Video Communications Inc., along with high internet penetration rates in countries like the U.S. and Canada, supports this dominance. Additionally, strong corporate demand for webinars and virtual conferences drives consistent growth in this region.
Region with highest CAGR:
The Asia Pacific region is anticipated to register the highest growth rate over the forecast period owing to rapid digital transformation in countries like China, India, and Japan. High smartphone penetration rates combined with increasing investments in cloud technologies make this region a hotspot for virtual event adoption. Growing awareness about cost-efficient marketing strategies among small- and medium-sized enterprises (SMEs) further propels market expansion in Asia Pacific.
Key players in the market
Some of the key players in Virtual Events Market include Zoom Video Communications, Inc., Microsoft Corporation, Google LLC, Cisco Systems, Inc., vFairs LLC, Livestorm, Inc., Hubilo Technologies Inc., Airmeet Inc., RingCentral, Inc., Cvent, Inc., BigMarker LLC, Whova, Inc., Kaltura, Inc., ON24, Inc., Hopin Ltd., Brella Oy, InEvent, Inc. and Bizzabo Ltd.
Key Developments:
In April 2024, Kaltura Events has won Best Virtual Event Platform in North America at the 2024 Innovation in Business MarTech Awards and Best Virtual and Hybrid Event Platform at the 2024 Event Technology Awards.
In November 2023, RingCentral, Inc., a leading provider of AI-first global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced the global availability of RingCentral Events™, an all-in-one solution for virtual, onsite, and hybrid event needs. Formerly Hopin Events, RingCentral Events is designed to be immersive and personalized, enabling businesses to provide engaging experiences that take events to the next level.
In September 2022, Bizzabo has announced a 724% increase in in-person events hosted on its platform between January and September 2022, along with a 20% overall increase in events compared to the previous year.
Platforms Covered:
• Web-Based Platforms
• Extended Reality (XR) Solutions
Components Covered:
• Software
• Services
Deployment Types Covered:
• On-Premise
• Cloud-Based
Event Types Covered:
• Internal Events
• External Events
End Users Covered:
• Corporate Sector
• Educational Institutions
• Healthcare Organizations
• Government & Public Sector
• Non-Profit Organizations
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Virtual Events Market, By Platform
5.1 Introduction
5.2 Web-Based Platforms
5.2.1 Event Management Platforms
5.2.2 Live Streaming Platforms
5.3 Extended Reality (XR) Solutions
5.3.1 Virtual Reality Platforms
5.3.2 Augmented Reality Solutions
6 Global Virtual Events Market, By Component
6.1 Introduction
6.2 Software
6.2.1 Content Management
6.2.2 Analytics & Reporting
6.2.3 Registration & Ticketing
6.3 Services
6.3.1 Professional Services
6.3.2 Managed Services
6.3.3 Support & Maintenance
7 Global Virtual Events Market, By Deployment Type
7.1 Introduction
7.2 On-Premise
7.3 Cloud-Based
8 Global Virtual Events Market, By Event Type
8.1 Introduction
8.2 Internal Events
8.2.1 Corporate Training
8.2.2 Team Building
8.2.3 Company Meetings
8.3 External Events
8.3.1 Conferences & Conventions
8.3.2 Trade Shows & Exhibitions
8.3.3 Product Launches
8.3.4 Educational Seminars
8.3.5 Marketing Events
9 Global Virtual Events Market, By End User
9.1 Introduction
9.2 Corporate Sector
9.3 Educational Institutions
9.4 Healthcare Organizations
9.5 Government & Public Sector
9.6 Non-Profit Organizations
10 Global Virtual Events Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Zoom Video Communications, Inc.
12.2 Microsoft Corporation
12.3 Google LLC
12.4 Cisco Systems, Inc.
12.5 vFairs LLC
12.6 Livestorm, Inc.
12.7 Hubilo Technologies Inc.
12.8 Airmeet Inc.
12.9 RingCentral, Inc.
12.10 Cvent, Inc.
12.11 BigMarker LLC
12.12 Whova, Inc.
12.13 Kaltura, Inc.
12.14 ON24, Inc.
12.15 Hopin Ltd.
12.16 Brella Oy
12.17 InEvent, Inc.
12.18 Bizzabo Ltd.
List of Tables
1 Global Virtual Events Market Outlook, By Region (2022-2030) ($MN)
2 Global Virtual Events Market Outlook, By Platform (2022-2030) ($MN)
3 Global Virtual Events Market Outlook, By Web-Based Platforms (2022-2030) ($MN)
4 Global Virtual Events Market Outlook, By Event Management Platforms (2022-2030) ($MN)
5 Global Virtual Events Market Outlook, By Live Streaming Platforms (2022-2030) ($MN)
6 Global Virtual Events Market Outlook, By Extended Reality (XR) Solutions (2022-2030) ($MN)
7 Global Virtual Events Market Outlook, By Virtual Reality Platforms (2022-2030) ($MN)
8 Global Virtual Events Market Outlook, By Augmented Reality Solutions (2022-2030) ($MN)
9 Global Virtual Events Market Outlook, By Component (2022-2030) ($MN)
10 Global Virtual Events Market Outlook, By Software (2022-2030) ($MN)
11 Global Virtual Events Market Outlook, By Content Management (2022-2030) ($MN)
12 Global Virtual Events Market Outlook, By Analytics & Reporting (2022-2030) ($MN)
13 Global Virtual Events Market Outlook, By Registration & Ticketing (2022-2030) ($MN)
14 Global Virtual Events Market Outlook, By Services (2022-2030) ($MN)
15 Global Virtual Events Market Outlook, By Professional Services (2022-2030) ($MN)
16 Global Virtual Events Market Outlook, By Managed Services (2022-2030) ($MN)
17 Global Virtual Events Market Outlook, By Support & Maintenance (2022-2030) ($MN)
18 Global Virtual Events Market Outlook, By Deployment Type (2022-2030) ($MN)
19 Global Virtual Events Market Outlook, By On-Premise (2022-2030) ($MN)
20 Global Virtual Events Market Outlook, By Cloud-Based (2022-2030) ($MN)
21 Global Virtual Events Market Outlook, By Event Type (2022-2030) ($MN)
22 Global Virtual Events Market Outlook, By Internal Events (2022-2030) ($MN)
23 Global Virtual Events Market Outlook, By Corporate Training (2022-2030) ($MN)
24 Global Virtual Events Market Outlook, By Team Building (2022-2030) ($MN)
25 Global Virtual Events Market Outlook, By Company Meetings (2022-2030) ($MN)
26 Global Virtual Events Market Outlook, By External Events (2022-2030) ($MN)
27 Global Virtual Events Market Outlook, By Conferences & Conventions (2022-2030) ($MN)
28 Global Virtual Events Market Outlook, By Trade Shows & Exhibitions (2022-2030) ($MN)
29 Global Virtual Events Market Outlook, By Product Launches (2022-2030) ($MN)
30 Global Virtual Events Market Outlook, By Educational Seminars (2022-2030) ($MN)
31 Global Virtual Events Market Outlook, By Marketing Events (2022-2030) ($MN)
32 Global Virtual Events Market Outlook, By End User (2022-2030) ($MN)
33 Global Virtual Events Market Outlook, By Corporate Sector (2022-2030) ($MN)
34 Global Virtual Events Market Outlook, By Educational Institutions (2022-2030) ($MN)
35 Global Virtual Events Market Outlook, By Healthcare Organizations (2022-2030) ($MN)
36 Global Virtual Events Market Outlook, By Government & Public Sector (2022-2030) ($MN)
37 Global Virtual Events Market Outlook, By Non-Profit Organizations (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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