ALBANY, New York, March 06, 2017: MarketReseachReports.biz has added a new market study, titled “Global Virtual Events Market 2017-2021,” to its expanding database. The report is a high-level analysis of the various facets that will impact the development of the global virtual events market over the forecast period from 2017 to 2021. The report examines current market trends, past performance, and technological breakthroughs to comprehend the growth trajectory of this industry over the forecast period. Analysts employed primary and secondary research methodologies and received insightful inputs from experts to provide a satisfactory conclusion regarding the market’s future. The report studies the regional markets of the Americas, EMEA, and APAC to present the market size analytics and revenue of the global market over the forecast period.
According to the report, the global virtual events market is expected to rise at a phenomenal CAGR of 21.97% between 2017 and 2021.
The report provides insights into the competitive landscape of the global virtual events market. Key vendors in the market are not only mentioned, but are profiled for their distinguishing business attributes. These are Adobe Systems, Cisco Systems, IBM, Avaya, Citrix Systems, and Microsoft. Some other prominent vendors that operate in this market include 8x8, Alcatel-Lucent, BroadSoft, Huawei Technologies, Zoom Video Communications, Mitel Networks, Atlassian, COREX (PTY), Toshiba, and ubivent.
A virtual event involves interaction of individuals in a virtual environment with the help of technology, rather than meeting at a physical location. Meetings that are conducted in virtual environments are highly interactive and are as effective as meetings conducted in physical environments.
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The report says that increasing number of corporate events is the foremost factor driving the virtual events market. In addition, the rising prominence of social networking sites, wherein individuals meet in virtual environments for leisure and work reasons is further fuelling the growth of this market. The rising trend of convergence of information through the web is stimulating the market’s growth.
However, the growth of this market is impeded due to several factors. This includes lack of knowledge for conducting virtual events, rising threat from open-source virtual events applications, inoperability issues among disparate unified communications and collaborations solutions, and high implementation cost of virtual event solutions.
Nevertheless, the market will gain due to some of the growth trends that are anticipated to come to the fore in the future. This includes growing popularity of virtual events in the education sector, increasing usage of virtual events for recruitment, and increasing use of audio and video conferencing.
The report has been prepared using validated analytical tools and employing standard research methodologies after an extensive research phase. The secondary phase of the study involved collecting data from a multitude of printable and non-printable sources such as search engines, government agencies, white papers, industry portals, trade journals, trade associations, and through paid databases.
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