Market Research Report
Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945248|
|Published||Content info||111 Pages
Delivery time: 2-3 business days
|Virtual Events Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 111 Pages||
The global virtual events market is currently witnessing strong growth. A virtual event refers to a web-based event that involves individuals interacting in a virtual space through smartphones, laptops, desktop computers and tablets. It consists of breakout sessions, video and web conferencing, virtual collaboration and social networking. In this kind of set-up, the participants are not physically present at one location but are connected in a common environment through the internet. In comparison to the traditionally used conferencing tools, virtual events offer a personalized experience, are highly cost-effective and enhance the audience reach of an organization. Owing to this, it finds extensive applications across various sectors, including corporate, healthcare, education, hospitality and banking, financial services and insurance (BFSI).
Rapid urbanization and increasing adoption of virtual infrastructure, tools and services by organizations across the globe, is one of the key factors driving the growth of the market. There has been widespread adoption of virtual events, especially by small and large-scale organizations, for various purposes, including event marketing, content and social media development, access management, event outsourcing and analytics. There is also an integration of various other interactive tools, such as polling, chats, forums and live questions and answers (Q&A), to enhance the efficiency of the events. Furthermore, various technological advancements, such as the emergence of software-as-a-service (SaaS)-based virtual events, are creating a positive impact on the market. These tools enable organizations to offer a unique interactive experience to their users and improve the overall sales experience through instant messaging, podcasting and virtual product experience. Other factors, including the emerging trend of digitization, along with the widespread utilization of audio and video conferencing for recruitment purposes, are projected to drive the market further. Looking forward, IMARC Group expects the market to witness double-digit growth during 2020-2025.