Virtual Event Platforms Market Growing at a CAGR of 21.2% 2032 | Hubilo, BigMaker, 6connex, Stova, Cisco System Inc

Increasing significance of event management drives the growth of the global virtual event platform market.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 7, 2025 /EINPresswire.com/ -- The global 𝐕𝐢𝐫𝐭𝐮𝐚𝐥 𝐄𝐯𝐞𝐧𝐭 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at $12.6 billion in 2022, and is projected to reach $83.8 billion by 2032, growing at a CAGR of 21.2% from 2023 to 2032. Surge in growing acceptance of online streaming drive the market growth. In addition, increasing significance of event management drives the growth of the market. However, insufficient technological expertise to integrate virtual event software and lack of infrastructure for communication and inconsistent networks are primarily expected to hamper the growth of the market. Furthermore, increasing reliance on CYOD and BYOD solutions is expected to create lucrative growth opportunities for the market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 313 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A204076

Virtual event platforms are a cutting-edge technology adopted by companies all over the world to build new relationships remotely. Hosting and attending events is made easy and user-friendly with the aid of virtual event platforms. Events and functions are considered as a significant and practical means of business-to-client communication. A major factor driving the expansion of the virtual event platform market is the regular organization of functions and events by governments, agencies, colleges, businesses, the hospitality industry, and public and private associations. Additionally, deploying a virtual event platform improves the ease of hosting and participating in online meetings for an organization. Demand for these platforms is rising as a result of the integration of cutting-edge technologies like virtual reality and augmented reality to enable 3D live broadcasting for digital events.

By enterprise size, the large enterprise segment accounted for nearly half of the global virtual event platforms market share in 2022, and is expected to dominate the market by 2032, owing to economical and effective means of establishing connections and developing engagement with a wide-ranging audience. Virtual event platform presents opportunity for brands to interact more meaningfully and be relatable with their target market, boosting brand loyalty. The small and medium-sized enterprise segment would also display the fastest CAGR of 23.1% throughout the forecast period, owing to providing small and medium-sized businesses immense opportunities to advance their development and prosperity. It also offer features like customizable layouts, choices for registration and ticketing, and smooth connection with well-known marketing and CRM programs.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/virtual-event-platforms-market/purchase-options

Furthermore, surge in growing acceptance of online streaming and increasing significance of the event management sector primarily drive the growth of the virtual event platform market. However, insufficient technological expertise to integrate virtual event software and lack of infrastructure for communication and inconsistent networks hamper market growth to some extent. Moreover, increasing reliance on CYOD and BYOD solutions is expected to provide lucrative opportunities for online event platforms market growth during the forecast period.

By component, the platform segment held the major share in 2022, garnering nearly half of the global virtual event platforms market revenue, owing to help with different parts of virtual events, including ticketing and registration, content delivery, live streaming, networking, engagement, analytics, and reporting, as well as connectivity with other event management propels the market growth significantly. The services segment would also showcase the fastest CAGR of 24.0% during the forecast period, owing to setup and planning to execution and analysis after the fact. Virtual exhibitor booths, networking and matching features, live streaming and broadcasting capabilities, interactive tools for audience interaction, technical assistance, analytics, and reporting are some of the services that virtual event platform providers often offer.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐇𝐨𝐩𝐢𝐧,
𝐁𝐢𝐠𝐌𝐚𝐤𝐞𝐫,
𝐀𝐜𝐜𝐞𝐥𝐞𝐯𝐞𝐧𝐭𝐬,
𝐇𝐮𝐛𝐢𝐥𝐨,
𝐯𝐅𝐚𝐢𝐫,
𝐒𝐭𝐨𝐯𝐚,
𝐌𝐢𝐜𝐫𝐨𝐬𝐨𝐟𝐭,
𝟔𝐜𝐨𝐧𝐧𝐞𝐱,
𝐑𝐞𝐦𝐨 𝐈𝐧𝐜.,
𝐂𝐢𝐬𝐜𝐨 𝐒𝐲𝐬𝐭𝐞𝐦 𝐈𝐧𝐜

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A204076

Region-wise, the virtual event platforms market size was dominated by North America in 2022 and is expected to retain its position during the forecast period, owing to the growing popularity of virtual events and the requirement for remote participation and collaboration, companies in this region are actively looking for dependable and strong platforms for their major events aiding the growth of the virtual event platform market. However, Asia Pacific is expected to witness significant growth during the virtual event platforms market forecast period, owing to the rapid digital transformation of many industries, the growing popularity of remote work and virtual collaboration technologies, and the demand for affordable and effective event management systems which is expected to fuel the online event platforms market growth in this region.

By end user, the healthcare and life science segment accounted for nearly one-fourth of the global virtual event platforms market share in 2022, and is expected to dominate by 2032, owing to features like networking possibilities, secure and compliant data management, and interactive sessions. The education segment would also display the fastest CAGR of 32.8% throughout the forecast period, owing to webinars, virtual conferences, and other forms of remote learning.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A204076

The industry for virtual event platforms has been significantly impacted by the COVID-19 pandemic. Many physical events, conferences, and meetings were cancelled or postponed due to the global health crisis, which has caused organizations to seek out other ways to engage their audiences. Due to the rising needs of businesses to find online venues for their events, there was a sharp increase in demand for virtual event platforms. Additionally, the deployment of virtual event platforms increased across industries as a result of the pandemic. Businesses that had previously placed a high priority on in-person events have had to quickly switch to virtual platforms in order to maintain stakeholder engagement and business continuity. In addition to this, virtual event platform providers offered an excellent opportunity to satisfy the rising demand and develop solutions that accurately simulate the in-person event experience in a virtual setting. Furthermore, the COVID-19 pandemic forced vendors of virtual event platforms to improve and innovate their products. To improve the interactivity and engagement of virtual events, additional features and functionalities were included.

By region, North America garnered the highest share in 2022, holding nearly one-third of the global virtual event platform market revenue in 2022, and is projected to retain its dominance by 2032, owing to the factors such as the increasing use of smartphones and enhanced internet connectivity aiding the growth of the virtual event platform market. The Asia-Pacific region would also portray the fastest CAGR of 24.8% during the forecast period, owing to increasing availability of high-speed mobile data. More people in Asia-Pacific have access to the internet which is expected to fuel the market growth in Asia-Pacific.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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