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Virtual Events Market Trends

Report ID: GMI7371
Published Date: Nov 2023
Report Format: PDF

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Virtual Events Market Trends

Enhanced interactivity and engagement will pave a healthy growth trajectory for the virtual events industry. Virtual event platforms are increasingly focusing on enhancing interactivity and engagement. This includes incorporating features like gamification, virtual reality (VR), and augmented reality (AR) to make virtual events more immersive and enjoyable for participants. In a recent turn of events, ENGAGE XR Holdings Plc, a VR technology company specializing in virtual communication solutions within the metaverse, has revealed a strategic partnership with Kia Germany.

This collaboration marks the introduction of Kia's inaugural flagship dealership in the metaverse. To celebrate this milestone, Kia will host an immersive, interactive reveal event on the ENGAGE platform in February 2023. The initiative highlights the metaverse's versatility and showcases how the automotive sector can extend its virtual presence, emphasizing the evolving landscape of digital experiences. More innovative efforts in this direction will boost the market development.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of virtual events was worth USD 118.9 billion in 2022 and is expected to register over 19.5% CAGR through 2032, due to the rapid shift from in-person to virtual events for maintaining business continuity and ensuring public safety worldwide.

The large enterprises segment registered 66% share of the virtual events industry in 2022 and is expected to register appreciable CAGR from 2023 to 2032, due to the rising need for cost-effective solutions to substantially reduce expenses associated with physical gatherings.

North America held 36% share of the virtual events market in 2022 and is expected to register commendable CAGR till 2032, due to the rapid technological advancements and the growing corporate landscape in the region.

6Connex, Accelevents, Cisco Systems Inc., Cvent Inc., Hopin, Microsoft Corporation, Remo, WHOVA, and Zoom Communications Inc. are some of the major virtual events companies worldwide.