Global Virtual Event Platform Market by Component (Services, Platform), End User (Government, Corporations, Healthcare, Education, Third Party Planner, Non-Profit, Associations), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

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The Global Virtual Event Platform market is expected to grow from USD 95.92 billion in 2020 to USD 408.53 billion by 2028, at a CAGR of 23% during the forecast period 2021-2028.

A virtual event platform is a software that allows users to easily host virtual conferences, meetings, seminars, online trade exhibits, virtual sports tournaments, and more. Virtual events can be accessed via the web, software applications, or mobile browsers. These platforms demand less capital yet provide higher returns. As a result, low-budget businesses can use these platforms as well. In today's worldwide and networked world, an essential component of connecting clients and companies is considered an important and valuable way of communication. Video and audio conferencing and live streaming and broadcasting are all examples of virtual events. The platform enables virtual communication from faraway locations by incorporating developing technologies such as augmented reality, virtual reality, and 3D simulation to recreate in-person event experiences. Further, thousands of people may share information in real-time thanks to the platform's interactive capabilities, which include a live chat box, live polls, and one-on-one video and audio chats.

The factors driving the market are growing Global Virtual Event Platform across the globe, the rising adaption of digitally simulated platforms in different sectors, demand for intercontinental communication services for information sharing, demand for a communication platform, the growing popularity of Unified Communication as a Service and innovative technologies. The factors restraining the market growth are lack of awareness, increasing threat of cyber-attacks while operating in the virtual environment, Compatibility issues at different business levels, and integrating virtual event software.  The availability of several open-source, accessible solutions for event management, the outbreak of COVID-19, remote work operations, and the importance of virtual event software as a powerful tool is expected to provide market growth opportunities.

This study delivers a comprehensive analysis of Component, End User, and region. The Component segment includes Services and Platforms. The Platform segment held the largest market share, owing to the emerging technologies, interactive features like a live chat box, live polls, one-to-one video, and audio calls, cost-efficient and highly beneficial. The End User segment includes Government, Corporations, Healthcare, Education, Third Party Planner, Non-Profit, Associations. The Third-Party planner segment holds the largest market share, owing to the logistics and vendor management, adoption of the virtual platform, save a lot of time & money, and new advancements in technology.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the largest market share in the U.S., owing to the stable economy, technological enhancements, advanced infrastructure, high awareness among enterprises, investments in various technologies, including Artificial Intelligence, Internet of Thing, big data, Augmented Reality, and Virtual Reality. The Asia-Pacific region is anticipated to grow and holds the largest share in China due to a vast and rising consumer base, growth in the use of digital platforms for communication, massive adoption of the technology, and aided by high-speed 5G network deployment.

Some notable players in the market are Cvent, Hopin, Hubilo, Vfairs, BigMarker, Zoom, Microsoft, Cisco, Accelevents, EventMobi, On24, Vconfex, Samaaro, Airmeet, and SpotMe.

Global Virtual Event Platform Market Analysis and Forecast, Type

  • Services
  •  Flatform

Global Virtual Event Platform Market Analysis and Forecast, Product

  • Government
  • Corporations
  • Healthcare
  • Education
  • Third-Party Planner
  • Non-Profit
  • Associations

Global Virtual Event Platform Market Analysis and Forecast, Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherland
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest Of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest Of APAC
  • South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Rest Of South America
  • Middle East And Africa
    •  UAE
    •  Saudi Arabia
    •  Egypt
    •  Nigeria
    •  South Africa
    • Rest Of Mea

Report Description:

  • The base year for the study has been considered 2019, the historic year 2018, and 2019, the forecast period considered is from 2021 to 2028.
  • The study delivers a comprehensive analysis of the global market for all segments and regions.
  • The report offers an in-depth analysis of driving factors, opportunities, and restraints for gaining key insight into the market. The report emphasizes all the key trends that play a vital role in enlarging the market from 2021 to 2028.
  • Porter's Five Forces model is used to recognize the competitive scenario in the market. This report incorporates the industry analysis, which is focused on providing an extensive view of the market.
  • The study also includes attractiveness analysis of all segments and regions, which are benchmarked based on their market size, growth rate, and attractiveness in terms of present and future opportunists for understanding the market's future growth.
  • The report provides company profile of the key players operating in the market and comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological, and legal factors based on our extensive secondary research, primary research, and in-house databases.
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Component
          4.3.2. Market Attractiveness Analysis By End User
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends
5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising adaption of digitally simulated platforms in different sectors
          5.2.2. Demand for intercontinental communication services for information sharing
          5.2.3. Demand for a communication platform
          5.2.4. Growing popularity of Unified Communication as a Service and innovative technologies
    5.3. Restrains
          5.3.1. Lack of awareness
          5.3.2. Increasing threat of cyber-attacks while operating in the virtual environment
          5.3.3. Compatibility issues at different business levels
          5.3.4. Integrating virtual event software
    5.4. Opportunities
          5.4.1. Free solutions for event management
          5.4.2. Outbreak of COVID-19
          5.4.3. Remote work operations
          5.4.4. Importance of virtual event software as a powerful tool
6. Global Virtual Event Platform Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Services
    6.3. Platform
7. Global Virtual Event Platform Market Analysis and Forecast, By End User
    7.1. Segment Overview
    7.2. Government
    7.3. Corporations
    7.4. Healthcare
    7.5. Education
    7.6. Third Party Planner
    7.7. Non-Profit
    7.8. Associations
8. Global Virtual Event Platform Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
9. Global Virtual Event Platform Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Virtual Event Platform Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. End User Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions
10. Company Profiles
    10.1. Cvent
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company End User Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Hopin
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company End User Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Hubilo
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company End User Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Vfairs
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company End User Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. BigMarker
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company End User Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Zoom
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company End User Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Microsoft
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company End User Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Cisco
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company End User Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Accelevents
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company End User Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. EventMobi
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company End User Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. On24
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company End User Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Vconfex
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company End User Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Samaaro
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company End User Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Airmeet
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company End User Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. SpotMe
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company End User Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis

List of Table

1. Global Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

2. Global Services, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion) 

3. Global Platform, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

4. Global Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

5. Global Government, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

6. Global Corporations, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

7. Global Healthcare, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

8. Global Education, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

9. Global Third-Party Planner, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

10. Global Non-Profit, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

11. Global Associations, Virtual Event Platform Market, By Region, 2018-2028 (USD Billion)

12. North America Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

13. North America Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

14. U.S. Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

15. U.S. Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

16. Canada Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

17. Canada Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

18. Mexico Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

19. Mexico Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

20. Europe Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

21. Europe Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

22. Germany Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

23. Germany Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

24. France Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

25. France Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

26. U.K. Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

27. U.K. Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

28. Italy Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

29. Italy Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

30. Spain Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

31. Spain Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

32. Asia Pacific Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

33. Asia Pacific Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

34. Japan Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

35. Japan Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

36. China Virtual Event Platform Market, By Component, 2018-2018 (USD Billion)

37. China Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

38. India Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

39. India Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

40. South America Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

41. South America Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

42. Brazil Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

43. Brazil Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

44. Middle East and Africa Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

45. Middle East and Africa Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

46. UAE Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

47. UAE Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

48. South Africa Virtual Event Platform Market, By Component, 2018-2028 (USD Billion)

49. South Africa Virtual Event Platform Market, By End User, 2018-2028 (USD Billion)

List of Figures 

1. Global Virtual Event Platform Market Segmentation

2. Global Virtual Event Platform Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Virtual Event Platform Market Attractiveness Analysis By Component

9. Global Virtual Event Platform Market Attractiveness Analysis By End User 

10. Global Virtual Event Platform Market Attractiveness Analysis By Region

11. Global Virtual Event Platform Market: Dynamics

12. Global Virtual Event Platform Market Share by Component (2021 & 2028)

13. Global Virtual Event Platform Market Share by End User (2021 & 2028)

14. Global Virtual Event Platform Market Share by Regions (2021 & 2028)

15. Global Virtual Event Platform Market Share by Company (2020)

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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Dear Siddhartha,
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Hello Sapna,
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