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Virtual Event Platforms Market Witnessing a COVID-19 Induced Spike, concludes Future Market Insights
With the pandemic showing limited signs of relenting, adoption of smart devices such as tablets, laptops and smartphones for various virtual events is pushing manufacturers to design integrated, state-of-the-art and user-friendly applications and extract massive financial gains.
Virtual event platforms are designed to emulate real-time activities such as registrations, certifications and participations, making them an indispensable element of business entities. Based on all these factors, the market will surge healthily in the coming years.
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The virtual event platforms market is characterized by a high degree of competition, attributed to the presence of a multitude of players. Collaborations & partnerships, development of customized solutions and enhancing in-house research capabilities constitute some key expansion strategies.
For instance, in April 2020 , Hubilo developed a cloud-based event management platform to facilitate virtual events amid the pandemic. Also, leading companies such as Microsoft are streamlining their research capacities to develop innovative technologies.
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FMI's research on the virtual event platform market is segmented into two major segments. By component, the global virtual event platform market is segmented into solutions and services. The solutions sub-segment is further segmented into integrated virtual event platforms and standalone software, while the services sub-segment is further segregated into live event support, post event processing services, event consulting services and support services. With respect to end-user, the global virtual event platform market is segregated into enterprises/corporates, event management agencies, academic institutions, and trade show organizers, among others. The extensive segregation of the market helps readers evaluate lucrative opportunities in the global virtual event platform market.
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