The global virtual events market is currently witnessing strong growth. A virtual event refers to a web-based event that involves individuals interacting in a virtual space through smartphones, laptops, desktop computers and tablets.Virtual events are web-based events where individuals interact in a virtual space via internet connectivity and smart devices. It incorporates breakout sessions, video and web conferencing, social networking, etc. Virtual events are more personalized and cost-effective than conventional conferencing methods. They are widely used across various sectors, including corporate, healthcare, education, hospitality and banking, financial services, and insurance (BFSI).
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Rapid urbanization, coupled with the growing adoption of interactive tools, has augmented the occurrence of virtual events. Several organizations are adopting virtual conferences for event marketing, content and social media development, access management, event outsourcing, etc. Moreover, the integration of various interactive tools, such as polling, chats, and forums, has also upgraded these events. Furthermore, various technological developments, such as the advent of software-as-a-service (SaaS)-based virtual events, are also impelling the market growth. These tools aid in enhancing the operations through instant messaging, podcasting, and virtual product experience. Additionally, rapid digitization, along with widespread adoption of audio and video conferencing for recruitment purposes, are also augmenting the virtual events market.
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Breakup by Type:
- Video Conferencing and Unified Communications & Collaborations
- Web Conferencing
Breakup by Solution Type:
- Webinars and Enterprise Streaming
- Networking and Collaborations
- Content Sharing and Media Development
- Event Marketing
Breakup by Application:
- Virtual Conferences
- Virtual Tradeshows
- Online Education Programs
- Virtual Reality Exhibitions
Breakup by End-Use:
- Finance and Banking
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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The report has also analysed the competitive landscape of the market with some of the key players being Adobe Inc., Alcatel-Lucent, Atlassian, Avaya Holdings Corp., Broadsoft Inc., Cisco Systems Inc., Citrix Systems Inc., Huawei, International Business Machines, Microsoft Corporation, Mitel Networks, Toshiba Corporation, Zoom Video Communications Inc., etc.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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