Virtual Events Market Size Worth US$ 468.9 Billion By 2028 | Industry CAGR of 22.6%

A virtual event is a web-based event that includes a vast range of activities, such as broadcasting, live streaming and audio/video conferencing.

BROOKLYN, NY, UNITED STATES, July 18, 2023/EINPresswire.com/ -- According to the latest report by IMARC Group, titled "Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global virtual events market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global virtual events market size reached US$ 140.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 468.9 Billion by 2028, exhibiting a growth rate (CAGR) of 22.6% during 2023-2028.

What are virtual events?

Virtual events refer to online events that offer a wide array of activities, such as broadcasting, live streaming, audio or video conferencing, etc., via connected devices, including laptops, desktop computers, smartphones, tablets, etc. They provide flexibility and scalability at remote locations and allow real-time language translation in several languages. Virtual events assist in data tracking of attendees, improving accessibility, generating more revenue in a business, enhancing the brand image of a company, etc. They also aid in building trust among customers, increasing business sales, minimizing traveling costs, etc. Consequently, virtual events are extensively utilized to efficiently conduct webinars, trade shows, online classes, live streams, product launches, corporate meetings, etc.

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What are the growth prospects and trends in the virtual events industry?

The inflating need for flexible and remote workplaces for organizing business procedures among employees is primarily driving the virtual events market. Additionally, the increasing number of smartphone users and the introduction of enhanced networking solutions for improved customer experience are further bolstering the market growth. Besides this, the rising utilization of virtual events, as they are highly interactive and provide live chat and download options during meetings, is acting as another significant growth-inducing factor. Moreover, these events are gaining extensive traction among enterprises for content and social media management and event marketing. Apart from this, they effectively manage time and resources as compared to physical events, thereby positively influencing the global market. Furthermore, the development of advanced technologies, such as Artificial Intelligence (AI) and Augmented Reality (AR), that allow enhanced online communication is anticipated to fuel the virtual events market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Adobe Inc.
• Alcatel-Lucent
• Atlassian
• Avaya Holdings Corp.
• Broadsoft Inc.
• Cisco Systems Inc.
• Citrix Systems Inc.
• Huawei
• International Business Machines
• Microsoft Corporation
• Mitel Networks
• Toshiba Corporation
• Zoom Video Communications Inc.

Explore Top Companies Blog by IMARC Group: https://www.imarcgroup.com/virtual-events-companies

Virtual Events Market Segmentation:

Our report has categorized the market based on region, type, solution type, application and end-use.

Breakup by Type:
• Video Conferencing and Unified Communications & Collaborations
• Web Conferencing

Breakup by Solution Type:
• Webinars and Enterprise Streaming
• Networking and Collaborations
• Content Sharing and Media Development
• Event Marketing
• Others

Breakup by Application:
• Virtual Conferences
• Virtual Tradeshows
• Online Education Programs
• Virtual Reality Exhibitions
• Others

Breakup by End-Use:
• Corporate
• Education
• Healthcare
• Finance and Banking
• Government
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Anand Ranjan
IMARC Services Private Limited
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