PUBLISHER: The Business Research Company | PRODUCT CODE: 1657074
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657074
A virtual event platform is a tool designed to host interactive events such as conferences, trade expos, and workshops over the internet. The primary goal of a virtual events platform is to expand the audience base and foster inclusivity. It serves as an efficient means of generating revenue and collecting crucial data about the audience.
The key components of a virtual event platform include the platform itself, along with services such as training and consulting, support and maintenance, and deployment and integration. Deployment and integration involve services related to the installation, configuration, integration, and deployment of technology across complex environments. These components are tailored based on the size of the organization, catering to large enterprises, medium-sized enterprises, and small enterprises. Major end-users of virtual event platforms encompass non-profit organizations, government entities, educational institutions, healthcare and life sciences organizations, third-party planners, associations, and corporations.
The virtual event platform market research report is one of a series of new reports from The Business Research Company that provides virtual event platform market statistics, including virtual event platform industry global market size, regional shares, competitors with a virtual event platform market share, detailed virtual event platform market segments, market trends and opportunities, and any further data you may need to thrive in the virtual event platform industry. This virtual event platform 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 event platform market size has grown rapidly in recent years. It will grow from $14.67 billion in 2024 to $16.39 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to digital transformation initiatives, globalization and remote collaboration, COVID-19 pandemic acceleration, need for flexibility and scalability, enhanced user engagement features.
The virtual event platform market size is expected to see rapid growth in the next few years. It will grow to $31.79 billion in 2029 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to post-event analytics and measurement, integration with social media platforms, competitive landscape and innovation, enhanced accessibility and inclusivity, evolution of virtual trade shows and exhibitions. Major trends in the forecast period include dynamic content formats, real-time collaboration tools, content distribution and monetization, focus on inclusivity, enhanced security measures, multi-platform accessibility, gamification elements.
The growing frequency of online meetings, conferences, lectures, and events is anticipated to drive the expansion of the virtual event platform market. The onset of the global pandemic introduced new challenges for corporations in conducting meetings and events. With the need to cancel in-person meetings, businesses were compelled to quickly transition to virtual meetings using advanced technology to ensure connectivity and mitigate the impact of COVID-19. This sudden shift toward virtual conferences and events has led to an increase in the use of virtual event platforms. For instance, according to Kaltura's The State of Virtual Events 2022 survey report, which surveyed around 1,250 organizers and attendees globally, 92% of organizers moved to virtual events in 2021, 94% planned for virtual events in 2022, and 48% intended to increase the number of virtual events in 2023. Therefore, the rising number of virtual events, conferences, and lectures is expected to propel the growth of the virtual event platform market.
The growing adoption of the Internet of Things (IoT) is anticipated to drive the expansion of the virtual event platform market in the future. The Internet of Things (IoT) refers to a network of physical objects or "things" embedded with sensors, software, and other technologies that enable them to collect and exchange data with other devices and systems over the internet. IoT devices are typically connected to the internet, allowing them to communicate with each other and with external systems. This connectivity can facilitate smoother integration between IoT devices and virtual event platforms, making it easier to incorporate IoT data and interactions into virtual events. For instance, in September 2024, IoT Analytics GmbH, a Germany-based non-governmental organization, reported that by the end of 2023, there were 16.6 billion connected IoT devices, representing a 15% increase from 2022. IoT Analytics also projected a further 13% growth to 18.8 billion devices by the end of 2024. Furthermore, the number of connected IoT devices is expected to reach 40 billion by 2030, marking a substantial increase from the last market update in 2023. Therefore, the rising adoption of the Internet of Things (IoT) is expected to propel the growth of the virtual event platform market.
A key trend in the virtual event platform market is the technological advancement in augmented reality (AR) and virtual reality (VR). Major companies in the market are prioritizing technological advancements by incorporating next-generation features such as CRM, video API, text API, and AI and ML into their platforms. AR and VR technologies play a pivotal role in providing users with interactive and immersive experiences during virtual events. For example, VRXtream introduced a Metaverse platform for events in January 2022, integrating AR and VR technologies, offering a comprehensive suite of realistic and interactive events with NFT marketplace connectivity.
Major players in the virtual event platform market are focusing on product development through the launch of comprehensive platforms. These platforms offer integrated solutions with a wide range of features for hosting, managing, and enhancing virtual events within a unified system. Zoom Video Communications, Inc., announced Zoom Events, an all-in-one platform that combines Zoom Meetings, Chat, and Video Webinars into a comprehensive solution for producing interactive and engaging virtual experiences. This approach is aimed at meeting the evolving needs of event organizers for both internal and external audiences of any size.
In August 2023, EventMobi, a Canada-based company specializing in comprehensive event management software and tools aimed at enhancing attendee engagement and streamlining event planning, acquired Run The World for an undisclosed amount. This acquisition allows EventMobi to expand its offerings, enabling a focus on various event formats and reinforcing its position as an industry leader. In the upcoming months, customers of Run The World will transition to EventMobi's platform, with support from its customer success teams, as the future of events blends in-person and virtual experiences to better engage communities. Run The World is a US-based company dedicated to providing a virtual event platform that facilitates interactive online gatherings, including conferences, meetups, and social events.
Major companies operating in the virtual event platform market include 6Connex Inc., Cvent Inc., Microsoft Corporation, Cisco Systems Inc., Zoom Video Communications Inc., Influitive Corporation, Whova Inc., OneCause Inc., Webex Events (formerly Socio), GoTo Webinar (LogMeIn Inc. ), BlueJeans Events (Verizon Business), ON24 Inc., PheedLoop Inc., vFairs, BigMarker Inc., HeySummit, Remo Inc., EventCube Inc., Tame Inc., Hopin Limited, Airmeet Inc., Accelevents Inc., Attendify Inc., Bizzabo Inc., Brella Productions Oy, Cadence Design Systems Inc., Crowdcast Inc., Intrado Corporation, Swapcard SAS, Hubilo Technologies Inc.
North America was the largest region in the virtual event platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual event platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the virtual event platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The virtual event platform market includes revenues earned by entities by providing online meeting services, townhalls, conferences and interactive workshops services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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 Event Platform Global Market Report 2025 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 event platform 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.
Where is the largest and fastest growing market for virtual event platform ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virtual event platform 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.