Virtual Events Market Size Worth $657.64 Billion By 2030

The global virtual events market size was valued at USD 114.1 billion in 2021 and is expected to reach USD 657.6 billion by 2030, expanding at a CAGR of 21.4% from 2022 to 2030. The predominant deployment of advanced communication solutions in various industries, including retail & e-commerce, education, manufacturing, construction, and healthcare, among others is anticipated to boost market growth during the forecast period. Furthermore, the accentuating adoption of Unified Communication as a Service (UCaaS) solutions allow the employees to partake in business events virtually and support a seamless workflow.

The advent of remote work environments adopted by several companies in retort to the lockdown levied by several government bodies emerged as one of the crucial factors driving the market growth. Events that are organized virtually play a critical role in allowing corporates to connect with employees and organize business proceedings. Platforms including Zoom, Microsoft Teams, and Hangouts are the most preferred UCaaS solutions employed by businesses and educational institutions across the world.

The industry signifies the presence of a large number of local and international players. For thriving in such a fragmented business environment and maintaining a robust foothold, key players in the market adopt various growth strategies, including partnerships, mergers, and acquisitions. The widespread adoption of AI-based virtual events platforms is opportunistic for the growth of the market. Numerous event management companies and software/service providers invest in R&D activities to cater to the latest technologies and formulate solutions with incomparable features to gain a competitive edge in the market. For instance, in January 2022, LinkedIn Corporation proclaimed that the company was testing the latest virtual event platform to support businesses to host events virtually and improve communication capacities.

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Virtual Events Market Report Highlights

• Based on event type, the external segment led the virtual events market, contributing a market share of over 41.8% in 2021. This can be accredited to the increasing adoption of advanced communication tools adopted by businesses for effortlessly communicating with external entities.

• Based on service, the communication segment held the largest market share owing to the significant increase in the number of events that are digitally simulated and the emergence of remote work setups.

• Based on industry vertical, the BFSI industry vertical is anticipated to expand at the fastest CAGR during the forecast period. Several market players are developing advanced tools for virtual platforms to offer secure transactions and a convenient banking experience.

• North America dominated the global virtual events market, accounting for a market share of over 39.7% in 2021, and is expected to maintain its lead during the forecast period. The region is equipped with advanced and speedy networking infrastructure and is a pioneer to adopt the latest communication technologies. 

Virtual Market Report Segments

Virtual Events Type Outlook (Revenue, USD Billion, 2018 - 2030)
    • Internal
    • External
    • Extended

Virtual Events Service Outlook (Revenue, USD Billion, 2018 - 2030)
    • Communication
    • Recruitment
    • Sales & Marketing
    • Training

Virtual Events Establishment Size Outlook (Revenue, USD Billion, 2018 - 2030)
    • SMBs
    • Large Enterprises

Virtual Events End-user Outlook (Revenue, USD Billion, 2018 - 2030)
    • Educational Institutions
    • Enterprises
    • Organizations
    • Others

Virtual Events Application Outlook (Revenue, USD Billion, 2018 - 2030)
    • Conferences
    • Exhibitions/Trade Shows
    • Summits
    • Others

Virtual Events Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)
    • Banking, Financial Services, and Insurance (BFSI)
    • Consumer Electronics
    • Healthcare
    • Information Technology (IT)
    • Manufacturing
    • Media & Entertainment
    • Telecom
    • Others

Virtual Events Use Case Outlook (Revenue, USD Billion, 2018 - 2030)
    • Everyday Events
    • Large-scale Events

Virtual Events Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
        • Mexico
    • MEA

List of Key Players in Virtual Events Market
    • 6Connex
    • ALIVE
    • Avaya Inc.
    • ALE International
    • Arkadin Cloud Communications
    • Cisco Systems, Inc.
    • Cvent Inc.
    • Eventxtra
    • George P. Johnson
    • GES
    • Kestone
    • Martiz Holdings Inc.
    • Microsoft Corporation
    • Pathable, Inc.
    • uBivent GmbH
    • Veritas Events
    • vFairs
    • Zoom Communications, Inc.