Market Definition:
Virtual Eventsis basically involves communicating or interacting with people that shares a common virtual environment. Virtual events are an alternative to the actual physical counterparts with highly interactive means of experience and are gaining traction among the private enterprises across the globe. Various companies participate in events such as trade shows, conferences etc. in order to generate new sales leads and for networking. Physical events can be a hassle for large corporation showcasing their portfolio and technologies and indulges in numerous of other vendors. In addition, small and medium businesses get left out as large corporation gains a premium advertising space and keynote presentation time. Thus leading to a highly competitive and costly affair. Virtual events reduces this complexity and in turn reduces the cost associated with showcasing the product in a physical medium.
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Market Growth and Analysis:
Growing number of SMEs, increasing demand for unified communication and collaboration, increasing adoption of SaaS-based applications, reduced cost associated with the system are some of the factors that would drive the growth of global Virtual Events Market. Integration of the new system onto the existing infrastructure isexpected to hinder the growth of the Virtual Events Market to the certain extent.
Market Segment:
The global Virtual Events Market can be segmented on the basis of type, component type, application and region. On the basis of type, the global Virtual Events Market can be segmented into Virtual conferences, Virtual tradeshows, Online courses & training webinars and Immersive virtual reality exhibitions.On the basis of component type, the global Virtual Events Market can be segmented into Streaming & unified communications, Content & media development, Networking & collaboration tools, Event marketing (contact &email management, social media), Attendance & speaker management, Access management, Learning management system (LMS), Content management system (CMS), Immersive environment hardware, Immersive environment management system, Event planning services, outsourcing, Analytics and VR hardware & software.On the basis ofapplication, the global Virtual Events Market can be segmented into private and public sectors.
Key Players:
Some of the key players in the global Virtual Events Market include Adobe Systems Incorporated, Avaya, Cisco Systems, Inc., Citrix Systems, IBM, Microsoft Corporation, 8x8 Inc., Mitel Networks, Alcatel-Lucent S.A., Huawei Technologies and Atlassian Corporation Plc.
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Regional Analysis:
On the basis of region, the global Virtual Events Market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America. In addition, North America Virtual Events Market accounts for a larger share in the global market.
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