According to the latest report of the IMARC group, entitled “Virtual events market: trends, participation, size, growth, opportunity and global industry forecasts 2021-2026“, The global virtual event market trends experienced strong growth in 2015-2020. A virtual event is a web-based event that includes a wide range of activities, such as broadcasts, live broadcasts, and audio / video conferencing. They require people to interact in a virtual space using tablets, laptops, desktops, and smartphones over the Internet. Some of the most common types of virtual events include business conferences, sales meetings, summits, job fairs, and trade shows. They provide a cost-effective solution that brings together a large number of attendees from around the world for an intentional meeting. Today, many vendors offer several sophisticated tools that help streamline the overall virtual experience. As a result, they are widely used as a key tool in many industry verticals, such as the education, business, healthcare, hospitality and banking, financial services and insurance (BFSI) sectors. .
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We regularly follow the direct effect of COVID-19[feminine[feminine in the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
Global Virtual Event Market Trends:
The global market is based primarily on rapid digitization and the growing preference for the use of virtual infrastructures and services by numerous organizations. In addition, there has been a considerable increase in the number of virtual events being held around the world due to mandatory blockades imposed by the governments of numerous countries to curb the spread of coronavirus disease (COVID-19). This has also led many small and large scale organizations to adopt the Work-From-Home (WFH) policy, which has led to the growing need for video conferencing and communication platforms across the corporate segment to ensure perfect business and customer meetings. . In addition, key players now incorporate higher bandwidths with their platforms to ensure a smooth workflow and provide innovative and sophisticated tools that help enhance the overall virtual experience of corporate employees. Apart from this, they also take advantage of advanced technologies, such as artificial intelligence (AI), virtual reality (VR) and augmented reality (RA), to provide unprecedented efficiency and an enhanced user experience, providing thus a boost to market growth. Some of the other factors contributing to the growth of the market include the easy availability of high-speed Internet connection, the emergence of software-based virtual events as a service (SaaS), and the growing demand for audio conferencing and video by education. sector. Due to the above mentioned factors, the market is expected to grow to one CAGR around 25% during the forecast period (2021-2026).
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Competitive landscape with key players:
The report also analyzed the competitive landscape of the market with some of the key players.
- Adobe Inc.
- Avaya Holdings Corp.
- Broadsoft Inc.
- Cisco Systems Inc.
- Citrix Systems Inc.
- International business machines
- Microsoft Corporation
- Mitel Networks
- Toshiba Corporation
- Zoom Video Communications Inc.
Virtual Event Market Segmentation:
Our report has classified the market based on region, type, solution type, application, and end use.
Market breakdown by type:
- Videoconferencing and unified communications and collaborations
- Web conferencing
Market breakdown by type of solution:
- Web and Enterprise Streaming seminars
- Networks and collaborations
- Content sharing and media development
- Event marketing
Market breakdown by application:
- Virtual conferences
- Virtual fairs
- Online education programs
- Virtual reality exhibitions
Breakdown of the market by end use:
- Health care
- Finance and Banking
Market breakdown by regions:
- 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, Others)
Key aspects of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Analysis of the five Porter forces
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete cartography of the competitive landscape
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