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Virtual Event Platform Market Size

Report ID: GMI5779
Published Date: May 2023
Report Format: PDF

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Virtual Event Platform Market Size

Virtual Event Platform Market size was valued at USD 11.9 billion in 2022 and is anticipated to grow at 10% CAGR from 2023 to 2032. The growing adoption of digital media platforms to broaden audiences, shift businesses from onsite to remote operations, and the popularity of transforming online advertising is supporting business growth.

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Virtual events are especially adopted by small and large organizations for many purposes such as merchandising, content & advertising, marketing, travel experience management, event outsourcing, and analytics. Various other interactive tools, such as surveys, discussions, forums, and Questions & Answers (Q&A), are also integrated to increase the effectiveness of the event.

Virtual Event Platform Market Report Attributes
Report Attribute	Details
Base Year:	2022
Virtual Event Platform Market Size in 2022:	USD 11.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10%
2032 Value Projection:	USD 40 Billion
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	220
Segments covered:	Component, Organization Size, End-use and Region
Growth Drivers:	The rise in popularity of online streaming to replace in-person presentation Widespread adoption of virtual infrastructure, tools, and services by organizations Integration of advanced technologies, such as artificial intelligence (AI), virtual reality (VR) Increasing adoption of digital media marketing platforms Increasing adoption of Unified Communication as a Service (UCaaS)-based solutions policies
Pitfalls & Challenges:	Lack of strong internet infrastructure in developing countries

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Lack of strong internet infrastructure in developing countries

One of the restraining factors impacting the virtual event platform market growth is the lack of internet infrastructure in poor countries. Lack of proper internet connectivity results in bad video & sound quality and disturb the virtual events.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of virtual event platform reached USD 11.9 billion in 2022 and will observe over 10% CAGR from 2023 to 2032, due to the rising adoption of digital media platforms to broaden audiences, shift businesses from onsite to remote operations.

The software segment accounted for 80% of the market share in 2022, owing to the growing deployment of technologies, including augmented reality and 3D simulations, to create personalized experiences.

The small enterprise organization segment is estimated to record over 15% CAGR during 2023 to 2032, driven by the increase in marketing and sales challenges with limited budgets.

APAC market size is expected to record over 15% CAGR from 2023-2032 owing to the rising disposable incomes in the region.