Virtual Events Global Market Report 2024

Description

A virtual event, also known as an online event, virtual conference, or live-streamed experience, is an occasion where individuals engage in interactions within a digital environment on the internet rather than convening at a physical venue. These events utilize digital platforms and technologies to enable participants to interact, engage, and collaborate remotely.

The primary types of virtual events are internal events, extended events, and external events. An internal event refers to any gathering or activity organized within a company or organization that is intended for its employees, stakeholders, or members. Components of internal events include platforms and services, and they are used in various sectors such as educational institutions, corporate settings, government organizations, conferences, and conventions.

The virtual events market research report is one of a series of new reports from The Business Research Company that provides virtual events market statistics, including virtual events industry global market size, regional shares, competitors with virtual events market share, detailed virtual events market segments, market trends, and opportunities, and any further data you may need to thrive in the virtual events industry. This virtual events market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The virtual events market size has grown exponentially in recent years. It will grow from $156.84 billion in 2023 to $193.45 billion in 2024 at a compound annual growth rate (CAGR) of 22.3%. The growth in the historic period can be attributed to factors such as enhanced attendee experience, revenue generation, focus on return on investment (ROI), competitive landscape, and the ability to reach a global audience with increased accessibility.

The virtual events market size is expected to see exponential growth in the next few years. It will grow to $437.16 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to factors such as the rise of hybrid events, increased global reach and accessibility, revenue generation strategies, emphasis on personalization, and the evolving competitive landscape. Major trends in the forecast period include the diversification of platforms, the integration of hybrid event models, a focus on enhancing attendee experience, the adoption of innovative technologies, and a growing emphasis on sustainability.

The anticipated growth of the virtual events market is closely tied to the increased frequency of business events. Business events, which are substantial gatherings facilitating professional activities such as networking, meetings, and service selling, are being conducted more frequently in virtual environments. This trend is driven by the desire to enhance engagement, networking opportunities, and knowledge sharing within the online professional community. The heightened frequency of virtual business events plays a crucial role in educating attendees about the benefits, features, and best practices of virtual events. This educational aspect contributes to market expansion by addressing potential concerns, dispelling myths, and showcasing success stories. An August 2023 report by Equation Events, a US-based events company, projects a robust 11% growth in the event industry job market, reaching 5.9 million jobs, indicating a healthy demand. Furthermore, concert and event promotion businesses witnessed a notable 9.1% growth in 2022, with 73,414 such companies in the U.S., reinforcing the growth trajectory of the virtual events market.

Leading companies in the virtual events market are at the forefront of developing innovative technologies to enhance the virtual event experience and cater to diverse audiences. Notably, Zoom Video Communications Inc., a prominent US-based communications technology company, introduced "boost virtual events." This concept involves organizing online gatherings, conferences, or meetings in a virtual environment, employing various strategies and technologies to elevate attendee engagement, drive sales, and enhance brand engagement. The launch of virtual booths or exhibition spaces within boost virtual events allows sponsors and exhibitors to showcase products, services, and resources, providing attendees with interactive and immersive experiences.

In July 2021, Bevy Labs Inc., a US-based event technology service company, acquired Eventtus Inc., a virtual events platform company based in Egypt. While the financial details remain undisclosed, this acquisition aligns with Bevy Labs' strategic objectives, which may include gaining access to new markets, expanding product lines, acquiring talent, or generating a return on investment. This move reflects the dynamic landscape of the virtual events market and the commitment of key players to fortify their positions through strategic acquisitions.

Major companies operating in the virtual events market report are Microsoft Corporation, NTT Limited, Cisco Systems Inc., NTT Data Inc., Adobe Systems Inc., Zoom Video Communications Inc., Alcatel-Lucent S.A., Martiz Holdings Inc., Citrix Systems Inc., Avaya LLC, George P. Johnson, Cvent Inc., Kestone Integrated Marketing Services Pvt. Ltd., ALE International SAS, Hubilo Technologies Inc., 6Connex, Aventri Inc., CL Educate Ltd., vFairs, EventX Limited, Veritas Technologies LLC, EventX Limited, uBivent GmbH, Pathable Inc., Alive Events Agency

North America was the largest region in the virtual events market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual events market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the virtual events market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The virtual events market consist of revenues earned by entities by providing event management services, technical support and AV services, analytics and reporting, translation and interpretation, content creation and design software. The market value includes the value of related goods sold by the service provider or included within the service offering. The virtual events market also includes of sales of audience engagement tools, virtual reality (VR) and augmented reality (AR) sets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Virtual Events Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on virtual events market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for virtual events ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virtual events market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Internal Event; Extended Event; External Event
2) By Component: Platform; Services
3) By Application: Conferences And Conventions; Corporate Meetings And Training; Exhibitions And Trade Shows; Seminars And Workshops
4) By End User: Educational Institution; Corporate; Government
Companies Mentioned: Microsoft Corporation; NTT Limited; Cisco Systems Inc.; NTT Data Inc.; Adobe Systems Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r16946

1. Executive Summary

2. Virtual Events Market Characteristics

3. Virtual Events Market Trends And Strategies

4. Virtual Events Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Virtual Events Market Size and Growth

5.1. Global Virtual Events Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Virtual Events Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Virtual Events Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Virtual Events Market Segmentation

6.1. Global Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Internal Event
Extended Event
External Event
6.2. Global Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Platform
Services
6.3. Global Virtual Events Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Conferences And Conventions
Corporate Meetings And Training
Exhibitions And Trade Shows
Seminars And Workshops
6.4. Global Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Educational Institution
Corporate
Government

7. Virtual Events Market Regional And Country Analysis

7.1. Global Virtual Events Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Virtual Events Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Virtual Events Market

8.1. Asia-Pacific Virtual Events Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Virtual Events Market

9.1. China Virtual Events Market Overview
9.2. China Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Virtual Events Market

10.1. India Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Virtual Events Market

11.1. Japan Virtual Events Market Overview
11.2. Japan Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Virtual Events Market

12.1. Australia Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Virtual Events Market

13.1. Indonesia Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Virtual Events Market

14.1. South Korea Virtual Events Market Overview
14.2. South Korea Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Virtual Events Market

15.1. Western Europe Virtual Events Market Overview
15.2. Western Europe Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Virtual Events Market

16.1. UK Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Virtual Events Market

17.1. Germany Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Virtual Events Market

18.1. France Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Virtual Events Market

19.1. Italy Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Virtual Events Market

20.1. Spain Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Virtual Events Market

21.1. Eastern Europe Virtual Events Market Overview
21.2. Eastern Europe Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Virtual Events Market

22.1. Russia Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Virtual Events Market

23.1. North America Virtual Events Market Overview
23.2. North America Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Virtual Events Market

24.1. USA Virtual Events Market Overview
24.2. USA Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Virtual Events Market

25.1. Canada Virtual Events Market Overview
25.2. Canada Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Virtual Events Market

26.1. South America Virtual Events Market Overview
26.2. South America Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Virtual Events Market

27.1. Brazil Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Virtual Events Market

28.1. Middle East Virtual Events Market Overview
28.2. Middle East Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Virtual Events Market

29.1. Africa Virtual Events Market Overview
29.2. Africa Virtual Events Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Virtual Events Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Virtual Events Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Virtual Events Market Competitive Landscape And Company Profiles

30.1. Virtual Events Market Competitive Landscape
30.2. Virtual Events Market Company Profiles
- 30.2.1. Microsoft Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. NTT Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Cisco Systems Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. NTT Data Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Adobe Systems Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Virtual Events Market Other Major And Innovative Companies

31.1. Zoom Video Communications Inc.
31.2. Alcatel-Lucent S.A.
31.3. Martiz Holdings Inc.
31.4. Citrix Systems Inc.
31.5. Avaya LLC
31.6. George P. Johnson
31.7. Cvent Inc.
31.8. Kestone Integrated Marketing Services Pvt. Ltd.
31.9. ALE International SAS
31.10. Hubilo Technologies Inc.
31.11. 6Connex
31.12. Aventri Inc.
31.13. CL Educate Ltd.
31.14. vFairs
31.15. EventX Limited

32. Global Virtual Events Market Competitive Benchmarking

33. Global Virtual Events Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Virtual Events Market

35. Virtual Events Market Future Outlook and Potential Analysis

35.1 Virtual Events Market In 2028 - Countries Offering Most New Opportunities
35.2 Virtual Events Market In 2028 - Segments Offering Most New Opportunities
35.3 Virtual Events Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer