Virtual Event Platform Market is Thriving with Rising Latest Trends by 2025

Posted by aartimurkute on November 11th, 2021

The global virtual event platform market changed drastically as online events became a reality through the pandemic. Local events and major business conferences, the global market for virtual event platform opened up an excellent solution for trappings of COVID-19 outbreak, says Fairfield Market Research. The upcoming report states that the demand for virtual event platforms will grow at a steady pace as the world reopens and corporates adapt themselves to a more hybrid model. The IT sector will lead the change as they have the required know-how to make use of the software and infrastructure. For example, in May 2020, Consensus attracted 22,000 attendees in a span of 5 days for an event related to Bitcoin and digital currencies.

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Hybrid Future to Define Progress for Global Virtual Event Platform Market

The unforeseen uncertainty in the March of 2020 made businesses pivot their business operations to a complete virtual model to keep going. From the point of view of event planning, project management, and coordination, the virtual event platforms offered the best solutions. These platforms became the backbone of virtual B2B events. With low overheads and handsome financial savings, every organization is keenly looking at opting for these platforms for conducting events in the future as well. While physical and face-to-face meetings and events are expected to resume in the post-pandemic world, analysts at Fairfield Market Research state that the hybrid model will be a part of the event strategy to reap long-term benefits.

Potential to Increase Reach Backs Growth of Global Virtual Event Platform Market

The biggest advantage of a virtual event platform is that it enables the end users to increase reach at lower costs. It has eliminated the cost of flying to the destination of conferences or meetings and reduced the costs for organizers as well. This will eventually allow event managers to have affordable pricing, encouraging higher participation. In the long run, this will help brands to have a wider reach with efficient methods and more organized data on attendees via registration details. This will allow virtual event platform service providers to offer real-time analytics to enhance the experience for attendees.

Asia Pacific to be a Sizeable Contributor

With the outbreak of COVID-19, the global virtual event platform market rose exponentially in all parts of the world. However, as North America remains home to some of the leading vendors, it is obvious that the regional market will have an edge over others.

The preliminary study by Fairfield Market Research indicates that Asia Pacific will have an unmatched contribution to the virtual event platform market between the forecast years of 2022 and 2026. This will be a result of start-up culture across India and a huge young workforce that relies on the IT sector for careers. The outsourcing trends in South East are also expected to make the most of virtual event platform for a wide range of corporate activities in the coming years

Some of the key players operating in the global virtual event platform market are Vfairs, Zoom, Connex, Cvent, Hopin, Remo, BigMarker, Hubilo, Samaaro, Vconfex, Microsoft, Cisco, Kestone, Whova, EventMobi, On24, and Accelevents. Companies are constantly trying to upgrade their software to allow end users to scale their events seamlessly.


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