Virtual Events Market Report by Type (Video Conferencing and Unified Communications & Collaborations, Web Conferencing), Solution Type (Webinars and Enterprise Streaming, Networking and Collaborations, Content Sharing and Media Development, Event Marketing, and Others), Application (Virtual Conferences, Virtual Tradeshows, Online Education Programs, Virtual Reality Exhibitions, and Others), End Use (Corporate, Education, Healthcare, Finance and Banking, Government, and Others), and Region 2024-2032

Virtual Events Market Report by Type (Video Conferencing and Unified Communications & Collaborations, Web Conferencing), Solution Type (Webinars and Enterprise Streaming, Networking and Collaborations, Content Sharing and Media Development, Event Marketing, and Others), Application (Virtual Conferences, Virtual Tradeshows, Online Education Programs, Virtual Reality Exhibitions, and Others), End Use (Corporate, Education, Healthcare, Finance and Banking, Government, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A2094
Buy Now

Global Virtual Events Market:

The global virtual events market size reached US$ 171.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 889.0 Billion by 2032, exhibiting a growth rate (CAGR) of 19.5% during 2024-2032. The increasing number of smartphone users around the world, the emergence of various advanced technologies, and the rising focus among companies on building brand image and engaging more customers represent some of the key factors driving the virtual events market growth.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 171.4 Billion
Market Forecast in 2032
US$ 889.0 Billion
Market Growth Rate 2024-2032 19.5%


Virtual Events Market Analysis:

  • Major Market Drivers: The rapid digitalization is supporting the growth of the market. Additionally, the increasing demand for flexible and remote workplaces to organize business procedures is also acting as another significant growth-inducing factor.
  • Key Market Trends: The emergence of advanced technologies, such as artificial intelligence (AI), augmented reality (AR), virtual reality (VR), etc., that enable enhanced online communication is creating a positive outlook for the market. Besides this, the development of enhanced virtual conference and networking solutions is further strengthening the market.
  • Competitive Landscape: Some of the prominent companies in the market include Adobe Inc., Alcatel-Lucent, Atlassian, Avaya Holdings Corp., Broadsoft Inc., Cisco Systems Inc., Citrix Systems Inc., Huawei, International Business Machines, Microsoft Corporation, Mitel Networks, Toshiba Corporation, and Zoom Video Communications Inc., among many others.
  • Geographical Trends: According to the virtual events market insights, North America currently dominates the overall market, owing to the continuous advancements of streaming capabilities. Additionally, the inflating popularity of digitally simulated platforms in the healthcare industry is bolstering the regional market.
  • Challenges and Opportunities: The growing consumer data privacy and security concerns are among the key challenges hindering the market. However, organizers are emphasizing on differentiating their events, enhancing attendee engagement, and delivering memorable experiences, which is projected to catalyze the market in the coming years.
     

Global Virtual Events Market


Virtual Events Market Trends:

Rising Number of Business Events

The growing number of businesses operating on a more global scale is increasing the need for networking, knowledge sharing, and collaborations, which is bolstering the overall market. For instance, the World Bank estimated there were about 332.99 million small and medium enterprises (SMEs) worldwide in 2021. They represent more than 90% of all business professionals worldwide. Additionally, they offer a convenient alternative to traditional in-person gatherings. With the increasing frequency of business events, professionals may need help to attend every event in person due to time constraints, travel costs, scheduling conflicts, etc. As a result, the increasing expenditure capacities on the conduction of in-person events are also shifting companies towards virtual events. According to an article published by Event Cube, nearly 65% of companies reported an increase in event spending in 2023. Virtual events allow attendees to participate from anywhere with an internet connection, thereby elevating accessibility and attendance rates. Moreover, according to a survey conducted by vFairs, titled "The Future of Virtual Events", roughly about 93.2% of respondents said their virtual event was a success in terms of attendance. Furthermore, 77.2% of those polled favored virtual events, as they are easier to attend. This, in turn, is contributing to the virtual events market share.

Popularity of Online Streaming

The rising popularity of online streaming as a replacement for in-person presentations is stimulating the market. According to an article published by Forbes in February 2024, streaming services are becoming common in households across the U.S. Moreover, Netflix, Amazon Prime Video, and Apple TV+ represent the most popular streaming services in the United States, with 99% of households having at least one subscription. These platforms offer features, such as live streaming, on-demand content access, interactive tools, audience engagement features, etc., catering to the needs of presenters and attendees alike. Apart from this, as more presenters and organizations embrace online streaming for presentations, the scope of virtual events has expanded beyond traditional conferences and seminars. They now encompass a wide range of formats, including webinars, virtual summits, product launches, training sessions, and workshops, according to diverse industries and audience preferences. This is stimulating the virtual events market revenue. For instance, in January 2024, Yamaha Motor India conducted an event, 'Yamaha Virtual Launch,' for its new product range. Additionally, in May 2024, Apple unveiled a virtual event called "Let Loose." The event aimed to showcase refreshed iPad Airs, including a larger 12.9-inch size.

Technological Advancements

Technological advancements in streaming play a crucial role in shaping the landscape of virtual events. They have enabled smoother and higher-quality live video streaming for virtual events. Moreover, dedicated virtual event platforms have emerged, offering comprehensive solutions for hosting and managing virtual events. These platforms provide features, such as customizable event spaces, attendee registration and management, interactive tools, including live chat, polls, and Q&A, integrations with other event management and marketing tools, etc. For instance, in August 2023, Chati, one of the virtual and hybrid event solutions providers, launched a virtual event platform that can alter how businesses, organizations, and communities interact with global audiences in virtual and hybrid environments. In addition, Chati incorporates breakout video chat sessions, enabling attendees to forge connections and engage in discussions. With seamless integration technology, Chati is also compatible with popular webinar solutions, social feeds, CRM systems, and more. Besides this, the widespread integration of AI algorithms helps in analyzing attendee data, such as registration information, browsing history, interactions during the event, etc. For instance, in January 2024, Splash, a worldwide event marketing technology firm that enables businesses to create large-scale live, hybrid, and virtual events, introduced Attendance Insights, the first predictive artificial intelligence tool across the event industry. It anticipates event attendance based on comparable events hosted on Splash. It also offers data-driven recommendations to increase projected attendance. These innovations mentioned above are expected to elevate the virtual events market scope in the coming years.

Global Virtual Events Industry Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on the type, solution type, application, and end-use.

Breakup by Type:

Virtual Events Market Report

Video conferencing and unified communications & collaborations represented the largest segment

The report has provided a detailed breakup and analysis of the market based on the type. This includes video conferencing and unified communications & collaborations and web conferencing. According to the report, video conferencing and unified communications and collaborations represented the largest market segmentation.

According to the virtual events market overview, video conferencing, and unified communications and collaborations provide audio and video-sharing communication facilities in real-time with enhanced connectivity and productivity. In addition, they assist in streamlining interaction methods between employees and customers while reducing travel and information technology (IT) costs. With the rise of remote work and globalized teams, these tools have become essential for maintaining communication, coordination, and productivity across dispersed workforces. For instance, in January 2024, Integrated Systems Europe, Cisco, Microsoft Corp., and Samsung Electronics Co. Ltd. launched new meeting room solutions to improve collaborative experiences for hybrid meetings. With a shared objective of facilitating seamless and inclusive meetings, the businesses revealed integrated video collaboration solutions for the Cisco Room Series.

Breakup by Solution Type: 

  • Webinars and Enterprise Streaming
  • Networking and Collaborations
  • Content Sharing and Media Development
  • Event Marketing
  • Others
     

A detailed breakup and analysis of the market based on the solution type has also been provided in the report. This includes webinars and enterprise streaming, networking and collaborations, content sharing and media development, event marketing, and others.

Webinars and enterprise streaming assist in generating leads and converting audiences into paying customers. In line with this, it provides real-time engagement to customers and employees without any requirement for a suitable physical place and reduces the operational costs of a business. Additionally, networking and collaborations in virtual events encourage interaction and idea-sharing among attendees. Besides this, technological advancements, such as artificial intelligence (AI) and machine learning (ML), in virtual event networking platforms connect audiences with similar interests quickly without wasting time. Moreover, content sharing and media development in virtual events can benefit in generating more revenues for a business. Apart from this, creating sharable online content leads to the growth of a business, thereby increasing the virtual events market dynamics.

Breakup by Application:

  • Virtual Conferences 
  • Virtual Tradeshows
  • Online Education Programs
  • Virtual Reality Exhibitions
  • Others
     

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes virtual conferences, virtual tradeshows, online education programs, virtual reality exhibitions, and others.

Virtual conferences allow participants to access live onsite meetings and events from internet devices remotely. It aids in eliminating logistics involved with in-person events and can include many people in the meetings without any hassle. Moreover, virtual tradeshows are events in which goods and services are exhibited in online mode conveniently. Various organizations display their products and services and provide information that can assist in increasing sales. In addition, they reduce costs, maximize reach, and create enhanced engagement among audiences across the globe. On the other hand, online education programs in virtual mode provide enhanced learning experiences to students around the world. They offer one-on-one training and consulting sessions for those who don’t want to share their details.

Breakup by End-Use:

  • Corporate
  • Education
  • Healthcare
  • Finance and Banking
  • Government
  • Others
     

Corporate accounted for the largest market share

A detailed breakup and analysis of the market based on the end-use has also been provided in the report. This includes corporate, education, healthcare, finance and banking, government, and others. According to the report, corporate represented the largest market segmentation.

According to the virtual events industry overview, the increasing number of client meetings for promoting new products is driving the segment's growth. In line with this, the rising demand for interactive virtual meeting platforms to coordinate and work efficiently in a company is also contributing to the growth of the market. Moreover, virtual events offer cost-saving benefits for corporate organizations. By eliminating expenses associated with venue rentals, travel, accommodation, catering, and logistics, virtual events provide a more budget-friendly option for hosting corporate gatherings. This cost efficiency appeals to organizations looking to optimize their resources and achieve a higher ROI from their events. For example, in January 2024, Microsoft introduced Mesh 3D meetings to enable workers to connect with their colleagues in a variety of three-dimensional situations.

Breakup by Region:

Virtual Events Market Report

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

North America exhibits a clear dominance

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

Some of the factors driving the North America virtual events market include the growing adoption of digitally simulated platforms in the healthcare industry, the rising number of multinational companies, and the increasing demand for business meetings in the government sector. In addition, the region is a hub for technological innovation and advancements in streaming technology, virtual reality (VR), augmented reality (AR), and artificial intelligence (AI). These technologies also enable more interactive, immersive, and engaging virtual experiences for individuals, which is acting as another significant growth-inducing factor. For instance, in June 2023, Remo USA Inc., one of the virtual events platform providers, released two novel AI-powered event planning tools called the Event Idea Generator and the Event Name Generator for free.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • Adobe Inc.
  • Alcatel-Lucent
  • Atlassian
  • Avaya Holdings Corp.
  • Broadsoft Inc.
  • Cisco Systems Inc.
  • Citrix Systems Inc.
  • Huawei
  • International Business Machines
  • Microsoft Corporation
  • Mitel Networks
  • Toshiba Corporation
  • Zoom Video Communications Inc.
     

 (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Virtual Events Market Recent Developments:

  • May 2024: Apple unveiled a virtual event called "Let Loose" to showcase its new range of iPads.
  • January 2024: Yamaha Motor India conducted an event, 'Yamaha Virtual Launch,' for its novel product offerings.
  • January 2024: Splash, one of the worldwide event marketing technology firms that enables businesses to create large-scale live, hybrid, and virtual events, launched Attendance Insights, the first predictive artificial intelligence tool.


Virtual Events Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Type
  • Solution Type
  • Application
  • End-Use
  • Region
Types Covered Video Conferencing and Unified Communications & Collaborations, Web Conferencing
Solution Types Covered Webinars and Enterprise Streaming, Networking and Collaborations, Content Sharing and Media Development, Event Marketing, Others
Applications Covered Virtual Conferences, Virtual Tradeshows, Online Education Programs, Virtual Reality Exhibitions, Others
End-Uses Covered Corporate, Education, Healthcare, Finance and Banking, Government, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adobe Inc., Alcatel-Lucent, Atlassian, Avaya Holdings Corp., Broadsoft Inc., Cisco Systems Inc., Citrix Systems Inc., Huawei, International Business Machines, Microsoft Corporation, Mitel Networks, Toshiba Corporation, Zoom Video Communications Inc., etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the virtual events market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global virtual events market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the virtual events industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global virtual events market was valued at US$ 171.4 Billion in 2023.

We expect the global virtual events market to exhibit a CAGR of 19.5% during 2024-2032.

The increasing adoption of virtual infrastructure, tools, and services over traditional conferencing tools, as they are highly cost-effective and offer a personalized experience, is primarily catalyzing the global virtual events market.

The sudden outbreak of the COVID-19 pandemic has led to the rising demand for virtual events amidst stringent lockdown regulations, enabling organizations to remotely improve the overall sales experience through instant messaging, podcasting, and virtual product experience.

Based on the type, the global virtual events market has been segmented into video conferencing and unified communications & collaborations, and web conferencing. Currently, video conferencing and unified communications & collaborations hold the majority of the total market share.

Based on the end use, the global virtual events market can be divided into corporate, education, healthcare, finance and banking, government, and others. Among these, the corporate sector currently exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global virtual events market include Adobe Inc., Alcatel-Lucent, Atlassian, Avaya Holdings Corp., Broadsoft Inc., Cisco Systems Inc., Citrix Systems Inc., Huawei, International Business Machines, Microsoft Corporation, Mitel Networks, Toshiba Corporation, Zoom Video Communications Inc., etc.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Virtual Events Market Report by Type (Video Conferencing and Unified Communications & Collaborations, Web Conferencing), Solution Type (Webinars and Enterprise Streaming, Networking and Collaborations, Content Sharing and Media Development, Event Marketing, and Others), Application (Virtual Conferences, Virtual Tradeshows, Online Education Programs, Virtual Reality Exhibitions, and Others), End Use (Corporate, Education, Healthcare, Finance and Banking, Government, and Others), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More