Latest News- Virtual Events Market: UC and C and VC is expected to lead the Application segment during 2025-2029

The Virtual Events Market is being driven by Rise in number of corporate events

The Virtual Events Market is expected to grow at a CAGR of 26.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 539.5 million. In today's digital age, virtual events have revolutionized the education sector by providing accessible and cost-effective learning opportunities. Traditional educational institutions are embracing virtual classrooms, enabling students to attend study sessions anytime, anywhere. This format offers numerous benefits, including reduced expenses and increased knowledge acquisition. Virtual events also provide access to qualified educators, transcending geographical boundaries. To enhance student engagement, virtual events incorporate game dynamics and social media integration. Furthermore, conferencing tools facilitate interactive sessions between students and faculty members, fostering a more engaging learning experience. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • UC and C and VC
  • Web conferencing
• Type
  • Webinar
  • Conference
  • Virtual expo fairs and festivals
  • Entertainment
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in number of corporate events
• Growing prominence of social networking sites
• Increasing need to improve competitive responsiveness

However, the market also witnesses some limitations, which are as follows:

• Emerging threat from open-source virtual events solutions
• Difficulty in selecting the right vendor for event platform and technologies
• Lack of knowledge about conducting virtual events

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Market Scope in Virtual Events Market Research Report

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Research Analysis Overview

The virtual events industry has seen a significant surge in various sectors due to the WFH policy and lockdowns caused by the Coronavirus. Retail & e-commerce, Healthcare, Manufacturing, Construction, Academic institutions, and Hospitality are some industries leveraging digitally simulated events for sales meetings, job fairs, summits, exhibitions, and trade shows. Modern technologies like artificial intelligence (AI) and connectivity networks ensure smooth business proceedings. Morressier provides virtual conference solutions, while networking solutions mitigate the lack of in-person interaction. However, cyberattacks pose a threat to the industry's security.

Market Research Overview

The virtual events industry is a significant segment of the global IT software market, encompassing businesses that develop and produce software for digitally simulated events. This market caters to various sectors such as retail & e-commerce, healthcare, manufacturing, construction, academic institutions, and more. Virtual events include sales meetings, job fairs, summits, and audio/video conferences. Technavio's market analysis covers application and systems software companies, including those offering database management software, application development and management software, cloud computing software, IT management software, mobility software, networking software, security software, and storage software. The market size is determined by the combined revenue generated by these organizations, excluding those involved in home entertainment software production.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/