Virtual Events Market Size to Grow by USD 269.2 billion |29% of Market Growth to Originate from North America | Technavio

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May 25, 2022, 09:20 ET

NEW YORK, May 25, 2022 /PRNewswire/ -- The virtual events market size is expected to grow by USD 7.41 billion from 2020 to 2025. However, the growth momentum of the market will decelerate at a CAGR of 32.74%. The growth will be driven by factors such as a rise in the number of corporate events, according to an analyst at Technavio.

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Technavio has announced its latest market research report titled Virtual Events Market by Application, End-user, and Geography - Forecast and Analysis 2021-2025

Market Driver and Challenge

The rise in the number of corporate events is driving the global virtual events market growth. On average, organizations host five to seven events per year. Organizations hold corporate events for their employees, business partners, and clients. Events are organized to launch and promote new products and to celebrate the success of the existing products and services. In addition, events are organized to nurture customer relationships and foster client relations.

Emerging threats from open-source virtual events solutions will challenge the global virtual events market growth. Open-source software can be downloaded and run on all platforms. Hence, several micro and small-scale enterprises and individual users are opting for open-source products. The basic and common features provided in propriety virtual events are available in most of the open-source virtual events. Moreover, individual users prefer open-source virtual events for their cost-effectiveness.

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Virtual Events Market: Segmentation Analysis

Segmentation by Application:

Based on application, the UC segment led the market in 2020.
The primary role of a UC solution is to facilitate communication using different modes, media, and devices anywhere and anytime.
Some of the benefits of the UC&C technology include improved employee productivity, enhanced communication among employees across the globe, increased use of collaboration tools and software, better optimization of business processes, faster decision-making capabilities, and increased availability of employees.
The market is expected to experience rapid growth during the forecast period due to the rise in adoption of UC&C by small- and mid-sized enterprises (SMEs).

Segmentation by Geography:

North America will have significant market share growth during the forecast period.
North America has a large number of global IT and retail organizations. Virtual events such as global conferences and online product launches and exhibitions organized by IT companies will drive market growth in this region during the forecast period.
Market growth in this region will be faster than the growth of the market in Europe.
The US is a key country for the virtual events market in North America.

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Virtual Events Market: Major Vendors

The virtual events market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The virtual events market report offers information on several market vendors, including Adobe Inc., Avaya Holdings Corp., Aventri Inc., Cisco Systems Inc., Cvent Inc., Huawei Investment & Holding Co. Ltd., International Business Machines Corp., Microsoft Corp., Ungerboeck, and Zoom Video Communications Inc. among others.

For more details about market vendors, View our Report Snapshot

Research and Development Outsourcing Services Market by End-user and Geography - Forecast and Analysis 2022-2026

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Virtual Events Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Decelerate at a CAGR of 32.74%
Market growth 2021-2025	USD 269.2 billion
Market structure	Fragmented
YoY growth (%)	40.37
Regional analysis	North America, APAC, Europe, MEA, and South America
Performing market contribution	North America at 29%
Key consumer countries	US, China, Germany, UK, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Adobe Inc., Avaya Holdings Corp., Aventri Inc., Cisco Systems Inc., Cvent Inc., Huawei Investment & Holding Co. Ltd., International Business Machines Corp., Microsoft Corp., Ungerboeck, and Zoom Video Communications Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

2.1 Market ecosystem

Exhibit 01: Parent market

2.2 Market characteristics

Exhibit 02: Market characteristics

2.3 Value chain analysis

Exhibit 03: Value Chain Analysis : Systems software market

3 Market Sizing

3.1 Market definition

Exhibit 05: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 06: Market segments

3.3 Market size 2020

3.4 Market outlook: Forecast for 2020 - 2025

Exhibit 07: Global - Market size and forecast 2020 - 2025 ($ billion)
Exhibit 08: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

4.1 Bargaining power of buyers

Exhibit 10: Bargaining power of buyers

4.2 Bargaining power of suppliers

Exhibit 11: Bargaining power of suppliers

4.3 Threat of new entrants

Exhibit 12: Threat of new entrants

4.4 Threat of substitutes

Exhibit 13: Threat of substitutes

4.5 Threat of rivalry

Exhibit 14: Threat of rivalry

4.6 Market condition

Exhibit 15: Market condition - Five forces 2020

5 Market Segmentation by Application

5.1 Market segments

Exhibit 16: Application - Market share 2020-2025 (%)

5.2 Comparison by Application

Exhibit 17: Comparison by Application

5.3 UC and C and video conferencing - Market size and forecast 2020-2025

Exhibit 18: UC and C and video conferencing - Market size and forecast 2020-2025 ($ billion)
Exhibit 19: UC and C and video conferencing - Year-over-year growth 2020-2025 (%)

5.4 Web conferencing - Market size and forecast 2020-2025

Exhibit 20: Web conferencing - Market size and forecast 2020-2025 ($ billion)
Exhibit 21: Web conferencing - Year-over-year growth 2020-2025 (%)

5.5 Market opportunity by Application

Exhibit 22: Market opportunity by Application

6 Market segmentation by end-users

6.1 Virtual events for educational institutions

6.2 Virtual events for trade shows

6.3 Virtual events for enterprises

7 Customer landscape

8 Geographic Landscape

8.1 Geographic segmentation

8.2 Geographic comparison

8.3 North America - Market size and forecast 2020-2025

8.4 APAC - Market size and forecast 2020-2025

8.5 Europe - Market size and forecast 2020-2025

8.6 MEA - Market size and forecast 2020-2025

8.7 South America - Market size and forecast 2020-2025

8.8 Key leading countries

8.9 Market opportunity by geography

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Market trends

10 Vendor Landscape

10.1 Vendor landscape

10.2 Landscape disruption

10.3 Competitive scenario

11 Vendor Analysis

11.1 Vendors covered

11.2 Market positioning of vendors

11.3 Adobe Inc.

11.4 Avaya Holdings Corp.

11.5 Aventri Inc.

11.6 Cisco Systems Inc.

11.7 Cvent Inc.

11.8 Huawei Investment & Holding Co. Ltd.

11.9 International Business Machines Corp.

11.10 Microsoft Corp.

11.11 Ungerboeck

11.12 Zoom Video Communications Inc.

12 Appendix

12.1 Scope of the report

12.2 Currency conversion rates for US$

12.3 Research methodology

12.4 List of abbreviations

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio