Virtual Event Platform Global Market Report 2024

A virtual event platform is a tool designed to host interactive events such as conferences, trade expos, and workshops over the internet. The primary goal of a virtual events platform is to expand the audience base and foster inclusivity. It serves as an efficient means of generating revenue and collecting crucial data about the audience.

The key components of a virtual event platform include the platform itself, along with services such as training and consulting, support and maintenance, and deployment and integration. Deployment and integration involve services related to the installation, configuration, integration, and deployment of technology across complex environments. These components are tailored based on the size of the organization, catering to large enterprises, medium-sized enterprises, and small enterprises. Major end-users of virtual event platforms encompass non-profit organizations, government entities, educational institutions, healthcare and life sciences organizations, third-party planners, associations, and corporations.

The virtual event platform market research report is one of a series of new reports that provides virtual event platform market statistics, including virtual event platform industry global market size, regional shares, competitors with a virtual event platform market share, detailed virtual event platform market segments, market trends and opportunities, and any further data you may need to thrive in the virtual event platform industry. This virtual event platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The virtual event platform market size has grown rapidly in recent years. It will grow from $13.27 billion in 2023 to $14.99 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The expansion observed in the historical period can be attributed to various factors, including digital transformation initiatives, the impact of globalization and the promotion of remote collaboration, the accelerated adoption due to the COVID-19 pandemic, a growing demand for flexibility and scalability in business operations, and the incorporation of enhanced user engagement features.

The virtual event platform market size is expected to see rapid growth in the next few years. It will grow to $26.53 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The anticipated growth in the forecast period can be linked to factors such as the emphasis on post-event analytics and measurement, increased integration with social media platforms, the dynamics of the competitive landscape and innovation, a focus on enhanced accessibility and inclusivity, and the evolving nature of virtual trade shows and exhibitions. Noteworthy trends expected in the forecast period encompass the adoption of dynamic content formats, the integration of real-time collaboration tools, strategies for content distribution and monetization, a heightened focus on inclusivity, the implementation of enhanced security measures, the promotion of multi-platform accessibility, and the incorporation of gamification elements.

The virtual event platform market is anticipated to experience growth due to the increasing prevalence of online meetings, conferences, lectures, and events. The global pandemic prompted a shift towards virtual interactions, with businesses leveraging advanced technology to overcome the challenges posed by canceled in-person events. Virtual event platforms have witnessed a surge in usage, with 92% of organizers transitioning to virtual events in 2021, and 94% planning to continue with virtual events in 2022, with 48% intending to increase the number of virtual events in 2023, as reported by Kaltura's The State of Virtual Events 2022 survey. This trend is expected to drive the growth of the virtual event platform market.

The growth of the virtual event platform market is further fueled by the increasing adoption of the Internet of Things (IoT). The IoT involves interconnected physical objects embedded with sensors and technologies to collect and exchange data. With IoT devices becoming more prevalent, their integration with virtual event platforms offers enhanced connectivity, facilitating smoother incorporation of IoT data and interactions into virtual events. In 2022, global IoT connections increased by 18%, reaching 14.3 billion active endpoints, as reported by IoT Analytics. The anticipated continuous growth in IoT device connections is expected to contribute to the expansion of the virtual event platform market.

A key trend in the virtual event platform market is the technological advancement in augmented reality (AR) and virtual reality (VR). Major companies in the market are prioritizing technological advancements by incorporating next-generation features such as CRM, video API, text API, and AI and ML into their platforms. AR and VR technologies play a pivotal role in providing users with interactive and immersive experiences during virtual events. For example, VRXtream introduced a Metaverse platform for events in January 2022, integrating AR and VR technologies, offering a comprehensive suite of realistic and interactive events with NFT marketplace connectivity.

Major players in the virtual event platform market are focusing on product development through the launch of comprehensive platforms. These platforms offer integrated solutions with a wide range of features for hosting, managing, and enhancing virtual events within a unified system. Zoom Video Communications, Inc., announced Zoom Events, an all-in-one platform that combines Zoom Meetings, Chat, and Video Webinars into a comprehensive solution for producing interactive and engaging virtual experiences. This approach is aimed at meeting the evolving needs of event organizers for both internal and external audiences of any size.

In June 2021, Hopin Ltd., an online events platform company based in the UK, acquired Boomset Inc., a New York-based event service company, to expand its product set with industry-leading onsite event tools, positioning itself as a comprehensive solution provider for event production in both hybrid and in-person settings.

Major companies operating in the in the virtual event platform market report are 6Connex Inc., Cvent Inc., Microsoft Corporation, Cisco Systems Inc., Zoom Video Communications Inc., Influitive Corporation, Whova Inc., OneCause Inc., Webex Events (formerly Socio), GoTo Webinar (LogMeIn Inc. ), BlueJeans Events (Verizon Business), ON24 Inc., PheedLoop Inc., vFairs, BigMarker Inc., HeySummit, Remo Inc., EventCube Inc., Tame Inc., Hopin Limited, Airmeet Inc., Accelevents Inc., Attendify Inc., Bizzabo Inc., Brella Productions Oy, Cadence Design Systems Inc., Crowdcast Inc., Intrado Corporation, Swapcard SAS, Hubilo Technologies Inc.

North America was the largest region in the virtual event platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual event platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the virtual event platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The virtual event platform market includes revenues earned by entities by providing online meeting services, townhalls, conferences and interactive workshops services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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