Virtual Events Market 2023-2027: Descriptive Analysis of Parent Market, Five Forces Model, Market Dynamics and Segmentation | Jobs Reply


NEW YORK, December 16, 2022 /PRNewswire/ — According to Technavio, the global marketplace for virtual events is estimated to grow in size 273.82 million USD From 2022 to 2027. The market is expected to grow at a CAGR of 21.34% during the forecast period. Moreover, the growth momentum will accelerate. North America it will have a share of 29% of the global market in the forecast period.

Technavio has announced its latest market research report titled Global Virtual Events Market 2023-2027.

Technavio has announced its latest market research report titled Global Virtual Events Market 2023-2027.

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Global Virtual Events Market – Parent Market Analysis

Technavio has classified the global virtual event market as part of the global market systems software a market that includes companies involved in the development and production of applications and systems software. It also includes companies that provide database management software. Technavio estimates the global size of the system software market based on the revenue generated by companies engaged in the provision of all types of system software, including cloud-based software. It also includes the annual revenue generated by the company through the running and resale of system software.

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Global Virtual Events Market – Five Forces
The global virtual events market is fragmented and is covered by the analysis of five forces:

  • Bargaining power of buyers

  • Threat of new entrants

  • The threat of competition

  • Bargaining power of suppliers

  • The threat of substitutes

  • To interpret Porter’s five forces model – buy the report!

Global Virtual Events Market – Client Overview

The report covers the adoption lifecycle of the market, from the innovator stage to the laggard stage. It focuses on adoption rates in different regions based on penetration. Additionally, the report also includes key purchasing criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Virtual Events Market – Segmentation Assessment

Segment overview

Technavio has segmented the market by type (webinar, conference, virtual trade show and festivals and entertainment), deployment (UC and C, video conferencing, web conferencing) and geography (North AmericaAPAC, Europe, Middle East and Africaand south america).

  • The UC and C segment will account for a significant share of the market growth during the forecast period. This technology has a number of benefits, such as improved employee productivity, improved communication, increased use of collaboration tools and software, improved business process optimization, faster decision-making, and increased employee availability. These factors will drive the segment’s growth over the forecast period.

Overview of geography

Based on geography, the global virtual events market is segmented North AmericaAPAC, Europe, Middle East and Africaand south america. The report provides actionable insights and estimates the contribution of all regions to the growth of the global virtual events market.

  • North America It will be 29% depending on the global market growth during the forecast period. The region has many world-class IT and retail organizations. These organizations often hold virtual events such as global conferences and online product launches and exhibitions, which drives regional market growth. Therefore, the regional market is expected to grow during the forecast period due to the rise in the use of virtual event platforms for organizing global conferences, summits, and sports events.

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The global marketplace for virtual events Market dynamics

A key factor driving the growth of the market

  • The increase in the number of corporate events is driving the growth of the global virtual events market.

  • Corporate events are held by organizations for employees, business partners and customers. Companies also use events to launch and promote new products.

  • In addition, virtual events ensure efficiency, save advertising costs and allow a wider audience reach.

  • Thus, organizations use virtual events as an effective and cost-effective way to save on advertising costs and reach the maximum audience.

Major trends affecting the market

  • The growing popularity of virtual events in education is a key trend in the market.

  • The use of virtual classrooms is becoming more and more popular, as these classrooms offer sessions to students anytime and anywhere.

  • Conferencing also enhances interactions between students and faculty in real time.

  • These factors will have a positive impact on the growth of the market during the forecast period.

Major challenges hindering the growth of the market

  • The emerging threat from open source virtual event solutions is a major challenge to the growth of the global virtual event market.

  • Open source solutions can be downloaded and run on all platforms. Because of the low cost, many small businesses and individual users prefer open source products.

  • This poses a major threat to event management, as the basic features offered in virtual events are available in open source virtual events. Individual users, who plan to organize small-scale events, prefer open source virtual events because of their cost-effectiveness. Therefore, the presence of open source virtual event solutions poses a threat to the market.

Drivers, trends and challenges influence market dynamics, which can impact business. Find some insights from a sample report!

What are the key facts covered in this Virtual Events market report?

  • Market CAGR during the forecast period

  • Detailed information on factors that will drive the growth of the virtual events market between 2023 and 2027

  • A detailed estimation of the virtual events market size and market contribution, looking at the main market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • The growth of the virtual events market North AmericaAPAC, Europe, Middle East and Africaand south america

  • In-depth competitive landscape of the market and detailed information on vendors

  • A comprehensive analysis of the factors that will challenge the growth of the vendors in the Virtual Events market

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Related reports:

  • The The consumer virtual reality marketplace size is expected to increase to USD 52.77 billion from 2021 to 2026, and the market growth momentum will accelerate at a CAGR of 60.80%. Market segmentation by component (hardware and software) and geography (APAC, North America, EuropeMEA and south america).

  • The augmented reality and virtual reality market It is estimated to grow at a CAGR of 52.37% between 2022 and 2027. The market size is expected to grow to USD 364557.67 million. This report expands market segmentation by application (consumer and enterprise), technology (AR and VR), and geography (APAC, North America, Europe, Middle Eastand Africaand south america).

Scope of the virtual events market

Report Coverage

The details

Page number

161

Base year

2022

Historical period

2017-2021

Announcement period

2023-2027

Growth momentum and CAGR

Accelerate at a CAGR of 21.34%

Market growth 2023-2027

273.82 million USD

Market structure

fragmented

Growth between 2022-2023 (%)

21.11

Analysis of the regions

North America, APAC, Europe, Middle East and Africa, and South America

Market contribution

North America at 29%

Key countries

USA, China, Japan, Germany and UK

Competitive landscape

Key vendors, vendor market positioning, competitive strategies and industry risks

Key business profiles

8×8 Inc., Adobe Inc., ALE International, Atlassian Corp. Plc, Avaya Holdings Corp., Aventri Inc., Bizzabo, Cadence Design Systems Inc, Cvent Inc., EventX Ltd., Hubb, International Business Machines Corp., Microsoft Corp. ., Mitel Networks Corp., Ungerboeck, Zoom Video Communications Inc., Huawei Technologies Co . Ltd., Cisco Systems Inc., Active Network LLC and TOSHIBA CORP

Market dynamics

Parent Market Analysis, Market Growth Drivers and Restraints, Fast and Slow Growing Segments Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the Forecast Period.

Personalization framework

If our report doesn’t include the data you’re looking for, you can contact our analysts and customize your segments.

Personalization framework

If our report doesn’t include the data you’re looking for, you can contact our analysts and customize your segments.

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Table of Contents

1 Executive summary

2 Market Landscape

3 Market Size

4 Historical Market Size

5 Five forces analysis

6 Market Segmentation by Application

7 Market segmentation by type

8 Customer landscape

9 Geographical Landscape

10 drivers, challenges and trends

11 Vendor Landscape

12 Vendor analysis

13 Annex

About us
Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialized analysts, Technavio’s report library contains more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within the changing market scenario.

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Global Virtual Events Market 2023-2027

Global Virtual Events Market 2023-2027

The split

The split

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