Global Virtual Event Industry Trends, Share, Size, Growth, Opportunity, and Forecast.
The global virtual market is currently growing fast. The global virtual events market will grow steadily during the next four years and post a CAGR of almost 23.2% yearly growth from 2020 to 2027.
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SaaS(Unified Communication as a Service) Growing fast among organizations, educational Institutes, and across industries during this period. Rising trends of globalization, several enterprises have started expanding their operation & development centers to several countries across the globe.
Virtual Platform witnessing the higher demands as most of the organization adopted the Work from home policy. Virtual platforms that include an online exhibition, videos, chat, web conferencing, information exchange tools, and social networking. Virtual event platform enabled on the smartphone, tablet, laptop, and desktop. Most of the platform provides responsive design as the life cycle of the event is shorter.
Online Job fairs will be bigger in India in the day to come, but yes offline events won’t completely go off. That’s the reason the hybrid concept of the event is growing faster. Indian organizations adopt virtual platforms to help the talent acquisition team to stay connected with the candidates through the entire interview process by video & chat and still can connect on a real-time basis with the candidate’s interview process. The usage of online assessment has been increased as part of the hiring process especially for the IT and Tech roles, to quickly filter and move candidates to the next level of interview round, scheduling is easy and fasts with new calendar tools.
Cloud-based solutions are advanced and virtualized infrastructure, Due to digitally virtual events were playing an important part in contributing to the SMBs’ agility in areas, innovation, productivity, and decision making.
Virtual event platform companies and solution providers are investing significantly in new technology and R&D activities to integrate and develop products for the future, to gain a competitive advantage over others.
