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Research Outline

Prepared for Alex L. | Delivered January 15, 2021

Virtual Events Platform Market Overview

Goals

To determine the market size of public virtual events in the US (such as virtual parties and open conferences)and identify the top players in the market and their current revenue.

Early Findings

Virtual Event Market Size & Growth Rate (Global and Regional Data)

  • According to an industry report by Grand View Research, corroborated by a Mena FN, the global virtual events industry was valued at $77.98 billion in 2019.
  • The industry is expected to grow at a CAGR of 23.2% from 2020 to 2027.
  • Using a reverse CAGR calculator, the size of the market in 2020 and 2021 is calculated to be $96.07 billion and $118.36, respectively.
  • The external (public) event segment accounted for the largest revenue share of over 40.0% in 2019. This is expected to continue over the forecast period.
  • With respect to the end-users, the market is fragmented into four segments, namely enterprises, organizations, educational institutions, and the others segment that includes informal groups of students, individuals, and teams sharing a common interest.
  • In terms of region, the North American region accounted for the largest (40.0%) share of the market by revenue. The region is expected to maintain its lead over the forecast period.
  • The United States accounted for a significant share in 2019 as the region is the corporate hub and observes higher deployment due to the early adoption of new technologies.

Online Ticketing Platforms: Market Size & Growth Rate (Global and Regional Data)

  • The global online event ticketing market is expected to reach $67.99 billion by 2025.
  • The market is expected to grow with a CAGR of 4.8% from 2014 to 2025.
  • Using a CAGR calculator, the size of the market in 2020 and 2021 is calculated to be $96.07 billion and $118.36, respectively.
  • According to IBISWorld, the United States online event ticket industry is worth $14.3 billion in 2021.
  • The market size of the online event ticket sales is expected to increase by 8.7% in 2021.
  • The industry is poised to grow with a CAGR of 10.8% between 2016 and 2021.

Summary

Our initial research about the virtual events industry revealed the market size of the global industry and that of the North American region. Unfortunately, we were unable to find any open source containing the United States virtual event platform's market size. Most reliable sources (industry analysis experts) identified with such information such as Grand View Research, Transparency Market Research, Mena FN, Future Market Insight, and Alchemy Market Research are all behind a paywall. As a result, we have to attempt triangulating (calculating) the market size for the United States industry, which can not be done during the first hour of research due to time constraints. We recommend selecting one or more of the below Proposed Next Steps (PNS) to allow us to continue with the Research.