Virtual Event Platform Market Size

Virtual Event Platform Market size was valued at USD 17.34 billion in 2024 and is likely to exceed USD 115.66 billion by the end of 2037, registering over 15.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of virtual event platform is evaluated at USD 19.52 billion.

The growth of the market can be attributed to the increased adoption of virtual event platforms owing to rapid digitization across private and public organizations. For instance, over 90% of companies are involved in digital initiatives and 88% are implementing digital-first strategies. From 2020 to 2023, companies are expected to invest USD 6 trillion in direct digital transformation as they build on prevalent investments and strategies and become digital enterprises. Digital transformation of organizations has enabled them to shift major operations and activities to the digital space. This has created a demand for virtual event platforms that provide features such as live streaming, virtual conferencing, and interactive features that allow users to have an engaging experience.

In addition to these, factors that are believed to fuel the market growth of virtual event platforms include the rising demand for cost-effective and secure communication solutions and the rapid adoption of digital technologies such as AI, cloud, and analytics. Furthermore, the availability of better internet infrastructure and the growing number of 5G subscriptions are also expected to drive the market growth. As of the year 2021, there were approximately 660 million subscriptions to the 5G network in use. The world is projected to have 5 billion subscriptions to 5G by 2028. 5G networks offer faster data speeds, which allow for more reliable streaming and higher-quality video for virtual events. This improved experience and increased reliability can help to drive more people to subscribe to virtual events platforms.