The market for virtual event platform refers to the sector and ecosystem that are oriented on the practice of brands working with influential people, sometimes referred to as influencers, to sell their goods or services to a target audience. Virtual event platform includes utilizing influencer’s followings, authority, and reach across a variety of social media sites, including blogs, YouTube, Instagram, and TikTok. These influencers have a loyal fan base and the power to influence the audience's purchasing choices. Brands, agencies, influencers, and digital platforms that enable influencer partnerships are some of the many stakeholders in the business. It involves tasks including finding influencers, planning and executing campaigns, creating content, managing influencers, measuring results, and tracking performance. Thus, the virtual event platform market has seen substantial growth in recent years due to the growth of social media. Moreover, virtual event platform is gaining significant value by brands as a crucial tool for reaching target audiences, enhancing brand recognition, rising engagement, and boosting revenue. As a result, there are many players offering a variety of services and solutions to satisfy the demands of brands and influencers within the virtual event platform ecosystem, which has led to a highly competitive market.
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 market growth during the forecast period.
The virtual event platform market is segmented on the basis of component, enterprise size, end user, and region. On the basis of component, it is categorized into platform and services. As per enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprises (SMEs). Depending on end user, it is fragmented into government, healthcare and life science, BFSI, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Microsoft, Cisco, 6Connex, Accelevents, Remo Inc., Hubilo, vFair, BigMaker, Hopin, and Stova. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
Top Impacting Factor
Growing acceptance of online streaming
The market for virtual event platforms has expanded dramatically as a result of the growing acceptance of online streaming. The way audiences access and consume events has been completely transformed by online streaming. Virtual event platforms are an effective way to connect participants who are far away from actual events due to the growing need for easy and on-demand information. Participants are able to access live streams, seminars, and interactive sessions from any location in the world with ease owing to these platforms. The effortless deployment and adaptability of virtual event systems have significantly enhanced the accessibility and reach of events, which has raised attendance and engagement. Furthermore, due to the restrictions of COVID-19 pandemic on in-person gatherings, the use of virtual event platforms has accelerated further. Organizations and individuals turned to virtual event platforms to continue holding conferences, trade exhibitions, concerts, and other meetings when many physical events were cancelled or postponed. This sudden change has not only shown how resilient virtual event platforms are, but it additionally brought attention to how well they can provide immersive and interesting events to a worldwide audience.
Increasing significance of the event management sector
Another major factor propelling the market for virtual event platforms is the expanding significance of the event management sector. An increasingly important component of marketing campaigns, corporate strategy, and community engagement initiatives is event management. Innovative solutions that may improve the event experience are in higher demand as businesses realize the importance of events in generating leads, cultivating customer connections, and raising brand awareness. Event managers may create immersive, dynamic, and captivating virtual experiences for guests with the help of virtual event platforms, which come with an array of features and capabilities. These platforms enable event organizers to simplify their processes and produce flawless events by offering tools for networking, ticketing, content management, registration, and analytics, among other things. Additionally, the COVID-19 pandemic highlighted the significance of the event management sector and its flexibility in responding to shifting conditions. Physical events were adversely affected by travel restrictions and bans on mass gatherings. In response, event coordinators started using virtual event platforms to move their gatherings online. In addition to assisting organizations in keeping up with event schedules and connecting with their intended audiences, this change has created new avenues for virtual encounters that are not limited by physical locations.
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 market growth during the forecast period.
The virtual event platform market is segmented on the basis of component, enterprise size, end user, and region. On the basis of component, it is categorized into platform and services. As per enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprises (SMEs). Depending on end user, it is fragmented into government, healthcare and life science, BFSI, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Microsoft, Cisco, 6Connex, Accelevents, Remo Inc., Hubilo, vFair, BigMaker, Hopin, and Stova. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
Top Impacting Factor
Growing acceptance of online streaming
The market for virtual event platforms has expanded dramatically as a result of the growing acceptance of online streaming. The way audiences access and consume events has been completely transformed by online streaming. Virtual event platforms are an effective way to connect participants who are far away from actual events due to the growing need for easy and on-demand information. Participants are able to access live streams, seminars, and interactive sessions from any location in the world with ease owing to these platforms. The effortless deployment and adaptability of virtual event systems have significantly enhanced the accessibility and reach of events, which has raised attendance and engagement. Furthermore, due to the restrictions of COVID-19 pandemic on in-person gatherings, the use of virtual event platforms has accelerated further. Organizations and individuals turned to virtual event platforms to continue holding conferences, trade exhibitions, concerts, and other meetings when many physical events were cancelled or postponed. This sudden change has not only shown how resilient virtual event platforms are, but it additionally brought attention to how well they can provide immersive and interesting events to a worldwide audience.
Increasing significance of the event management sector
Another major factor propelling the market for virtual event platforms is the expanding significance of the event management sector. An increasingly important component of marketing campaigns, corporate strategy, and community engagement initiatives is event management. Innovative solutions that may improve the event experience are in higher demand as businesses realize the importance of events in generating leads, cultivating customer connections, and raising brand awareness. Event managers may create immersive, dynamic, and captivating virtual experiences for guests with the help of virtual event platforms, which come with an array of features and capabilities. These platforms enable event organizers to simplify their processes and produce flawless events by offering tools for networking, ticketing, content management, registration, and analytics, among other things. Additionally, the COVID-19 pandemic highlighted the significance of the event management sector and its flexibility in responding to shifting conditions. Physical events were adversely affected by travel restrictions and bans on mass gatherings. In response, event coordinators started using virtual event platforms to move their gatherings online. In addition to assisting organizations in keeping up with event schedules and connecting with their intended audiences, this change has created new avenues for virtual encounters that are not limited by physical locations.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the virtual event platforms market analysis from 2022 to 2032 to identify the prevailing virtual event platforms market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the virtual event platforms market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global virtual event platforms market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
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- Free Upcoming Version on the Purchase of Five and Enterprise User License.
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- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Upcoming/New Entrant by Regions
- Market share analysis of players by products/segments
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Virtual Event Platforms Component
- Platform
- Services
By Virtual Event Platforms Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise
By Virtual Event Platforms End User
- Healthcare and Life Science
- Government
- BFSI
- Education
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Cisco System Inc
- Microsoft
- Accelevents
- Hubilo
- BigMaker
- Remo Inc.
- Stova
- vFair
- Hopin
- 6connex
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VIRTUAL EVENT PLATFORMS MARKET, BY VIRTUAL EVENT PLATFORMS COMPONENT
CHAPTER 5: VIRTUAL EVENT PLATFORMS MARKET, BY VIRTUAL EVENT PLATFORMS ENTERPRISE SIZE
CHAPTER 6: VIRTUAL EVENT PLATFORMS MARKET, BY VIRTUAL EVENT PLATFORMS END USER
CHAPTER 7: VIRTUAL EVENT PLATFORMS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Cisco System Inc
- Microsoft
- Accelevents
- Hubilo
- BigMaker
- Remo Inc.
- Stova
- vFair
- Hopin
- 6connex
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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