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Virtual Events Market Size to Hit USD 366450 million by 2028 | Market Share, Growth, Trends, Key Players, Market Segmentation, Challenges, Restraints, Revenue, Recent Developments, Stakeholders and Forecast Research | Market Reports World

Virtual Events Market Size to Hit USD 366450 million by 2028 | Market Share, Growth, Trends, Key Players, Market Segmentation, Challenges, Restraints, Revenue, Recent Developments, Stakeholders and Forecast Research | Market Reports World
Market Reports World

Market Reports World

global Virtual Events market size is projected to reach US$ 366450 million by 2028, from US$ 115610 million in 2021, at a CAGR of 17.3% during 2022-2028.

Pune, May 04, 2022 (GLOBE NEWSWIRE) — Global Virtual Events Market 2022 research report represents a detailed overview of the current market situation and forecast till 2028. The study is perhaps a perfect mixture of qualitative and quantitative information highlighting key market developments, challenges, and competition the industry face alongside gap analysis and new opportunities available and trend within the Virtual Events Market. Further, this report gives Virtual Events Market size, recent trends, growth, share, development status, market dynamics, cost structure, and competitive landscape. The research report also includes the present market and its growth potential in the given period of forecast. An exhaustive and professional study of the global Virtual Events market report has been completed by industry professionals and presented in the most particular manner to present only the details that matter the most. The report mainly focuses on the most dynamic information about the global market.

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Moreover, the research report gives detailed data about the major factors influencing the growth of the Virtual Events market at the national and local level forecast of the market size, in terms of value, market share by region, and segment, regional market positions, segment and country opportunities for growth, Key company profiles, SWOT, product portfolio and growth strategies.

About Virtual Events:

Virtual events are online exhibitions that include breakout sessions, video conferencing, web conferencing, collaboration tools, communication, and social networking. Virtual events can be enabled on smartphones, desktops, laptops, and tablets. They can be used to announce the launch of new products, provide additional information to people, and obtain new vendors. The exhibit below represents the differences between physical events and virtual events.

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This report gives a detailed description of all the factors influencing the growth of these market players as well as profiles of their companies, their product portfolios, marketing strategies, technology integrations, and more information about these market players. Some of the major players are as follows:

The Major Key Players Listed in the Virtual Events Market Report are:

Global Virtual Events Market: Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production in the global market and of each type.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

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On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Virtual Events market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Virtual Events market.

Global Virtual Events Market Segmentation:

The research report includes specific segments by region (country), company, Type, and Application. This study provides information about the sales and revenue during the historic and forecasted period. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

By Type:

  • Online Exhibitions

  • Web Conferencing

  • Others

By Application:

  • Education

  • Healthcare

  • Finance and Banking

  • Others

Geographic Segment Covered in the Report:

The Virtual Events report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region during the estimated period.

  • North America

  • Europe

  • Asia-Pacific

  • South America

  • Middle East and Africa

The study Objectives of this report are:

  • To study and analyze the global Virtual Events market size (value and volume) by company, key regions/countries, products and application, history data and forecast.

  • To understand the structure of the Virtual Events market by identifying its various sub-segments.

  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

  • Focuses on the key global Virtual Events manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in the next few years.

  • To analyze the Virtual Events with respect to individual growth trends, future prospects, and their contribution to the total market.

  • To project the value and volume of Virtual Events submarkets, with respect to key regions (along with their respective key countries).

  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

  • To strategically profile the key players and comprehensively analyze their growth strategies.

This Virtual Events Market Research/Analysis Report Contains Answers to the following Questions

  • What developments are going on in that technology? Which trends are causing these developments?

  • Who are the global key players in this Virtual Events market? What are their company profiles, their product information, and contact information?

  • What was the global market status of the Virtual Events market?

  • What is the current market status of the Virtual Events industry? What’s market competition in this industry, both company, and country-wise? What’s the market analysis of the Virtual Events market by taking applications and types in consideration?

  • What will be the estimation of cost and profit?

  • What is the economic impact on the Virtual Events industry? What are global macroeconomic environment analysis results? What are global macroeconomic environment development trends?

  • What are the market dynamics of the Virtual Events market? What are the challenges and opportunities?

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Detailed TOC of Global Virtual Events Market Report 2022

1 Report Business Overview

1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Virtual Events Market Size Growth Rate by Type, 2017 VS 2021 VS 2028
1.2.2 Online Exhibitions
1.2.3 Web Conferencing
1.2.4 Others
1.3 Market by Application
1.3.1 Global Virtual Events Market Size Growth Rate by Application, 2017 VS 2021 VS 2028
1.3.2 Education
1.3.3 Healthcare
1.3.4 Finance and Banking
1.3.5 Others
1.4 Study Objectives
1.5 Years Considered

2 Global Growth Trends

2.1 Global Virtual Events Market Perspective (2017-2028)
2.2 Virtual Events Growth Trends by Region
2.2.1 Virtual Events Market Size by Region: 2017 VS 2021 VS 2028
2.2.2 Virtual Events Historic Market Size by Region (2017-2022)
2.2.3 Virtual Events Forecasted Market Size by Region (2023-2028)
2.3 Virtual Events Market Dynamics
2.3.1 Virtual Events Industry Trends
2.3.2 Virtual Events Market Drivers
2.3.3 Virtual Events Market Challenges
2.3.4 Virtual Events Market Restraints

3 Competition Landscape by Key Players

4 Virtual Events Breakdown Data by Type

5 Virtual Events Breakdown Data by Application

6 North America

7 Europe

8 Asia-Pacific

9 Latin America

10 Middle East & Africa

11 Key Players Profiles

12 Analyst’s Viewpoints/Conclusions

13 Appendix

Continued….

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Four trends driving brand events and experiences in 2022 | Econsultancy

Four trends driving brand events and experiences in 2022 | Econsultancy

Companies are ramping up investment in experiential marketing, as consumers crave in-person experiences. According to AnyRoad, 81% of brands say their event and experiential budgets will “match or exceed” pre-pandemic levels in 2022.

But post-pandemic, is experiential strategy the same? Here’s a look at how companies are attracting people IRL, and some trends driving the industry. 

Hybrid experiences in the metaverse

The limit on ‘live experiences’ during the past two years has already given way to virtual and hybrid experiences, which combine real-life social interaction with digital elements. At the same time, we’ve witnessed the emergence of the ‘metaverse’, or at least a more fleshed-out concept of a new immersive digital environment where these interactions take place. This could create opportunity for new brand experiences, with the fashion industry in particular already taking advantage.

Evidence of this comes from the upcoming Metaverse Fashion Week, which will see global brands including Hugo Boss stage virtual fashion shows, as well as virtual after-parties and other immersive experiences (such as live music performances). Hosted by metaverse platform Decentraland, it’s expected that virtual visitors will be able to buy the digital wearables featured on the catwalk, as well as real-life designs and NFTs.

With more fashion brands expected to invest in the metaverse, and the likes of Gucci already releasing digital items, the virtual fashion week is a way for brands to test the water (and pique consumer interest in digital fashion).

With the lines between online and physical worlds becoming increasingly blurred, we are likely to see more brands take a hybrid approach to experiential in future.

Paid-for experiences that drive positive engagement

With consumers eager for in-person experiences, brands are cashing in on the so-called ‘experience economy’ in more ways than one. While experiential and events activity is typically about brand perception and recall, brands are also generating direct revenue from paid-for experiences.

Hasbro’s ‘Monopoly Lifesized’ is one example – it is an immersive live-action experience that combines elements of the Monopoly board game with escape rooms and challenges. Commenting on the launch, David Hutchinson, CEO of Gamepath, said: “For us, Monopoly Lifesized represents a major entry into a growing and exciting marketplace. Audiences want to consume live performance differently, and what better way than to jump into a lifesized version of the world’s favourite board game?”

As well as the live-action experience, the 22,000 square foot space (which is located in the former Paperchase on London’s Tottenham Court Road) also includes a Hasbro retail outlet and Monopoly-themed bar and restaurant called Top Hat, a good example of the evolution of retail space in the past two years.

But is this type of paid-for experience a commercially viable business, or actually another strategic type of experiential marketing? Interestingly, research suggests that by being ticketed, paid-for events can have a positive effect on consumer’s perception and engagement.

A study undertaken by creative agency Imagination – which looked at 40 paid-for experiences and 30,000 data points – found that paid-for experiences achieved double the rate of brand and product mentions compared with free experiences. What’s more, the study also found that 17% of conversations around paid-for experiences were recommendations compared with just 1% for a free experience.

Overall, the study found that paid-for experiences drive deeper engagement, higher quality leads, are more valued by customers, and brings customers closer to the product (driving more mentions of a brand or product). This is because, as the study concludes, by paying for an experience “people are shifted into a different mindset – they have invested in the experience and are more willing and open to engage, to be entertained, to learn something new.”

Social media IRL

Social media continues to influence buying behaviour. According to 2021 research from Bazaarvoice, 23% of UK shoppers use social media to discover and purchase new products. At the same time, 40% of shoppers say they won’t make a purchase if there isn’t user generated content on the brand or retailer’s product page, again highlighting the extent to which social content can drive ecommerce.

This also demonstrates how intertwined the two worlds of social and retail have become, which has led to an increasing number of partnerships between social platforms and retail brands. These are usually online, of course, but we are seeing brands partner with social media companies on experiential marketing. One recent example of this is Argos, which has partnered with Pinterest to launch ‘The Argos Mood Hotel’ – an initiative it describes as “a world-first concept hotel curated using interior design products from the high street brand, based on the hottest interiors trends emerging from Pinterest’s annual trends report.” As well as visiting in real life, the hotel can also be experienced virtually via 360-degree video and shoppable digital formats, which can be accessed on Pinterest as well as Argos’ social media channels. 

Speaking about the partnership, Sibylle Tretera, Head of Creative Strategy for Pinterest explained how the brand experience aims to transform passive social browsers into active shoppers. “This innovative approach from Argos explores the ways people are using the platform and brings to life the very trends people are searching for, making it easy for home decor fans to take action on their creative ideas,” she said. Indeed, by giving shoppers a real-life version of an online mood board, the idea is that they are more likely to be inspired to buy – and continue using Pinterest as a source of product discovery.

Another social media platform to move offline is TikTok, which also made an appearance ‘IRL’ last year with its TikTok For You House – an experiential pop-up in Westfield London shopping centre. Designed in a house-style format, the TikTok experience enabled visitors to interact and learn from popular TikTok creators, re-creating viral recipes in the kitchen and showcasing fashion in the dressing room. While there was no shopping element involved, the experience was designed to drive footfall to Westfield post-pandemic, while also enabling TikTok to engage with existing users and attract new ones to its platform. 

OOH becomes more interactive than ever

OOH advertising is designed to stop people in their tracks with big, bold, and powerful creative. With consumers often bombarded with messages, however, it can be difficult to cut through the noise and truly grab attention. Consequently, more brands are incorporating experiential strategies into OOH advertising, combining immersive elements with clever marketing to generate engagement and create memorable experiences. 

In December 2021, Bombay Sapphire took over three window displays in New York’s Soho district, using them to showcase holiday-inspired fashion, art, and live dance performances. Additionally, each window included a QR code that enabled passers-by to redeem a free drink at a nearby participating restaurant, ensuring that those who engaged with the billboard felt surprised and rewarded, and most importantly, received an experience that they would remember.

3D billboards also enable brands to drive similar engagement, transforming otherwise passive or humdrum everyday experiences into something more memorable. One example of this comes from Balenciaga, which teamed up with Fornite last year to create immersive 3D billboards in London, New York, Tokyo, and Seoul.