The Global Virtual Event Platforms Market Size valued for USD 111.5 Billion in 2021 and is anticipated to reach USD 629.2 Billion by 2030 with a CAGR of 21.3% from 2022 to 2030.

Virtual events are those that take place online (online). Virtual events offer great benefits and scope for everyone — attendees — regardless of where a person is in the world, what kind of systems they use, or when they are available.

The future of human to human engagement will become increasingly remote participation centric as the technology and the internet become more widely accessible. Event technology will revolutionize the entire event industry due to the shifting nature of digitalization and significant advancements in digital events management.

Webinars, webcasts, and zoom meetings are frequently included in the same category as virtual events. But they are not limited there. Here's the thing: even though webinars and webcasts are essentially subsets of virtual events, they do not even come close to covering the full spectrum of options and formats you have with online events.

Virtual Event Platforms Market Dynamics

The most significant advantage of virtual events is that they do away with the logistics and restrictions of physical events. By holding the event online, people from all over the world can participate, interact, and form connections, increasing the geographic and cultural diversity of attendees, the calibre of presenters, and the reach of sponsors.

Events that take place virtually are not time-bound. A virtual event doesn't have to fit everything into one full day like an actual event does. By spreading out the learning, networking, and other advantages of an event over several days or interactions, it can give attendees more value.

Even though virtual events save both attendees and conference organizers the costs associated with in-person events, speakers, sponsors, and attendees do not always perceive them as being less valuable. In fact, virtual events are becoming more and more beneficial to those who sign up and participate because they can draw attendees from all over the world and aren't time-bound.

Virtual Event Platforms Market Insights

Enterprise, component, and end-user are the three segments of the market for virtual event platforms. Based on the enterprise, the market is segmented into two categories: small & medium enterprise and large enterprise. Due to technological advancements, the introduction of cutting-edge cloud-based solutions, and combative adoption of virtualized infrastructure, the segment of small and medium-sized businesses dominated the virtual events platform market in 2021.

Based on component, the market is bifurcated into software and services. The software also known as platform segment occupied a significant market share in 2021. By incorporating cutting-edge technologies like augmented reality, virtual reality, and 3D simulation to provide virtual communication from remote locations, the platform supports replicating the experiences of attending events in person.

Furthermore, by end-user, the industry is split into BFSI, healthcare, education, hospitality, government, and others. The BFSI market segment is likely to attain significant growth rate during the projected timeframe from 2022 to 2030. If the incumbents in the banking and financial industry verticals wanted to adopt the most recent developments and simplify client interaction, internal communication would be crucial. For the BFSI industry, several top companies are creating virtual platform tools to secure transactions and offer practical banking services.

Global Virtual Event Platforms Market Geographical Competition

The market for virtual event platforms is currently led by North America and its two largest economies, the US and Canada. From 2022 to 2030, the region is expected to continue to dominate the industry. The main factor driving the market's expansion is the presence of significant technology players in the area. The growth is being supported by the major providers of virtual event solutions' ongoing developments.

Global Virtual Event Platforms Industry Segment Analysis

Virtual Event Platforms Market By Enterprise

·         Small & Medium enterprise

·         Large Enterprise

Virtual Event Platforms Market By Component

·         Software

·         Services

Virtual Event Platforms Market By End-User

·         BFSI

·         Healthcare

·         Education

·         Hospitality

·         Government

·         Others

Virtual Event Platforms Market Leading Companies

The players profiled in the report include 6Connex, ubivent GmbH, BigMarker, Cvent Inc., V2, LLC., Planning Pod, Hubilo Softech Private Limited, Livestorm SAS, Intrado Corporation, SKIFT INC., Pathable, Inc., vFairs, and Whova.

Virtual Event Platforms Market Regions