Virtual Events Market Size to Grow by USD 269.2 billion |29% of Market Growth to Originate from North America | Technavio
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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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.
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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.
Contacts
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Jesse Maida
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Website: www.technavio.com/
SOURCE Technavio
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