Future Market Insights’ (FMI) recent study opines global virtual event platforms market to witness staggering growth, on account o As organizations switch to cloud computing and augmented reality in the wake of Industry 4.0, various virtual platforms have come into existence. Their scope has further increased in the past few months, with businesses transitioning to remote working approaches in light of the pandemic crisis.
COVID-19 to Skyrocket Virtual Event Platforms Market
The novel coronavirus pandemic has induced a drastic reshaping of the global economy. Government mandated lockdowns have compelled organizations to accommodate work from home practices, thereby shifting businesses to the virtual platform.
Throughout the pandemic’s duration, the global virtual event platforms is expected to remain on a high growth trajectory. Large, medium and small enterprises have increased spending on cloud and virtual event management platforms, with meetings and conferences being conducted online.
According to Future Market Insights’ (FMI) estimates, the demand for virtual event platforms will surge exponentially, with maximum uptake likely to be across the education and healthcare industries. These network-based platforms have enabled people to schedule appointments with exhibitors, sponsors and performers.
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Virtual Event Platforms Market: Prominent Vendors
The global virtual event platforms market report has profiled the following prominent players*:
- Microsoft Corporation
- Cisco Systems
- Zoom Video Communications
- Cvent Inc.
- 6Connex Inc.
- Hubb LLC
*This list is indicative- full details about virtual event platforms players is available upon request.
Virtual event platform market: Segmentation
- Integrated Virtual Event Platforms
- Standalone Software
- Live Event Support
- Post Event Processing Services
- Event Consulting Services
- Support Services
- Event Management Agencies
- Academic Institutions
- Trade Show Organizers
- Large Enterprises
- North America (U.S & Canada)
- Latin America (Brazil, Mexico & Rest of Latin America)
- Europe (Germany, France, Italy, Spain, U.K, BENELUX, Russia & Rest of Europe)
- East Asia (China, Japan & South Korea)
- South Asia & Pacific (India, Thailand, Malaysia, Indonesia, Australia & New Zealand)
- Middle East & Africa (GCC, South Africa, Turkey & Rest of MEA)
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Key Questions Answered in the Report
- How will virtual event platforms market expand from 2020-2030?
The global virtual event platforms market is expected to grow staggeringly between 2020 and 2030. An impressive 16.3% CAGR is forecasted for the market throughout the said assessment period
2. What factors propel the virtual event platforms market?
The global virtual event platforms market is impelled by a proliferation of advanced networking technologies and increased frequency of live-streaming virtual events in the wake of the COVID-19 pandemic. Additionally, increasing scope of virtual platforms across the healthcare domain is likely to accelerate growth
3. What are the possible impediments to the market?
Difficulties in integrating virtual platforms into various levels of business operations is proving to be a significant hindrance to the virtual event platforms market growth. Companies need to ensure consistency at every tier, which increases their overall spending
4. Which is the largest virtual event platforms market?
As per Future Market Insights’ (FMI) projections, North America is likely to retain market dominance, owing to the presence of various global and regional organizations across various end-use industries. However, South Asia & Pacific is expected to emerge as the fastest growing market, attributed to flourishing education and healthcare sectors
5. Which domain is an extensive virtual event platform user?
Academic institutions are effectively leveraging virtual event platforms due to extensive usage of live-streaming interfaces to deliver lectures and conduct classes in light of the pandemic crisis. Additionally, demand for quality education delivery is also increasing adoption across the educational sphere.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.