Published Date: 26-Sep-2021
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According to a new report Global Virtual Event Platform Market, published by KBV research, The Global Virtual Event Platform Market size is expected to reach $20 billion by 2027, rising at a market growth of 11.3% CAGR during the forecast period.
Small enterprises segment would grow at a promising rate during the forecast period. Small enterprises are aiming to acquire the market by incorporating different kinds of growth strategies and fulfilling the demands of the consumers, resulting in the massive adoption of cloud services among small enterprises. Small enterprises face higher challenges due to limited availability of funds for marketing and sales activities in comparison to large enterprises due to which they require better ways to solve complexities for developing cost-effective ways for their business processes.
The third-party planner segment is expected to witness a major growth rate during the forecast period. The virtual platform has allowed these planners to increase their audience and inclusivity. In comparison to a live event, they often save a lot of time on logistics when holding a virtual event. Virtual events are often less costly as compared to an in-person gatherings because event planners save money on employees, venue, setup and takedown, lodging, food, travel fees, and other expenses.
North America would acquire the maximum revenue share in the overall virtual event platform market during the forecast period. The presence of many virtual event platform vendors in the United States, as well as a high level of awareness among businesses regarding the advantages of scheduled events as part of effective marketing plans is expected to boost the regional market. The market in North America is likely to be driven by investments in various technologies such as AI, IoT, big data, AR, and VR, as well as the growing rate of use of cloud services.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Cisco Systems, Inc., Zoom Video Communications, Inc., EventMobi (5Touch Solutions, Inc.), Cvent, Inc., Kestone, Accelevents, Inc., Bizzabo, Aventri, Inc., and Samaaro
By Enterprise Size
By End User
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