Virtual Events Market Report 2024: Market Insights And Future Outlook
Virtual Events Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Virtual Events Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 10, 2024 /EINPresswire.com/ -- The global virtual events market is projected to grow from $156.84 billion in 2023 to $193.45 billion in 2024, at a compound annual growth rate (CAGR) of 22.3%. The market is anticipated to reach $437.16 billion by 2028, driven by the increased frequency of business events and the growing adoption of hybrid events.
Increased Frequency of Business Events Drives Market Growth
The rising frequency of business events is a significant factor contributing to the growth of the virtual events market. Business events, which include large gatherings where professionals engage in activities such as selling services, networking, or holding meetings, are increasingly being held virtually. These events enhance engagement, networking opportunities, and knowledge sharing within the online community. For instance, Equation Events, a US-based events company, projected in August 2023 that the event industry's job market would grow at 11%, reaching 5.9 million jobs, indicating healthy demand. Additionally, concert and event promotion businesses experienced 9.1% growth in 2022, with 73,414 such companies in the U.S. This increased frequency of business events is expected to propel the growth of the virtual events market.
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Major Players and Market Trends
Key players in the virtual events market include Microsoft Corporation, NTT Limited, Cisco Systems Inc., NTT Data Inc., Adobe Systems Inc., Zoom Video Communications Inc., and others. These companies focus on developing innovative technologies to enhance the virtual event experience. For instance, Zoom Video Communications Inc. launched boost virtual events in October 2022, providing virtual booths or exhibition spaces for sponsors and exhibitors to showcase products, services, and resources. This innovation allows attendees to explore these spaces, interact with exhibitors, download materials, and schedule meetings.
Market Segments:
• Type: Internal Event, Extended Event, External Event
• Component: Platform, Services
• Application: Conferences And Conventions, Corporate Meetings And Training, Exhibitions And Trade Shows, Seminars And Workshops
• End User: Educational Institution, Corporate, Government
Geographical Insights: North America Leading the Market
North America was the largest region in the virtual events market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Virtual Events Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Virtual Events Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual events market size, virtual events market drivers and trends, virtual events market major players, competitors' revenues, market positioning, and market growth across geographies. The virtual events market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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