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Hybrid Future to Define Progress for Global Virtual Event Platform Market

The unforeseen uncertainty in the March of 2020 made businesses pivot their business operations to a complete virtual model to keep going. From the point of view of event planning, project management, and coordination, the virtual event platforms offered the best solutions. These platforms became the backbone of virtual B2B events. With low overheads and handsome financial savings, every organization is keenly looking at opting for these platforms for conducting events in the future as well. While physical and face-to-face meetings and events are expected to resume in the post-pandemic world, analysts at Fairfield Market Research state that the hybrid model will be a part of the event strategy to reap long-term benefits.

Potential to Increase Reach Backs Growth of Global Virtual Event Platform Market

The biggest advantage of a virtual event platform is that it enables the end users to increase reach at lower costs. It has eliminated the cost of flying to the destination of conferences or meetings and reduced the costs for organizers as well. This will eventually allow event managers to have affordable pricing, encouraging higher participation. In the long run, this will help brands to have a wider reach with efficient methods and more organized data on attendees via registration details. This will allow virtual event platform service providers to offer real-time analytics to enhance the experience for attendees.

Asia Pacific to be a Sizeable Contributor

With the outbreak of COVID-19, the global virtual event platform market rose exponentially in all parts of the world. However, as North America remains home to some of the leading vendors, it is obvious that the regional market will have an edge over others.

The preliminary study by Fairfield Market Research indicates that Asia Pacific will have an unmatched contribution to the virtual event platform market between the forecast years of 2022 and 2026. This will be a result of start-up culture across India and a huge young workforce that relies on the IT sector for careers. The outsourcing trends in South East are also expected to make the most of virtual event platform for a wide range of corporate activities in the coming years

Some of the key players operating in the global virtual event platform market are Vfairs, Zoom, Connex, Cvent, Hopin, Remo, BigMarker, Hubilo, Samaaro, Vconfex, Microsoft, Cisco, Kestone, Whova, EventMobi, On24, and Accelevents. Companies are constantly trying to upgrade their software to allow end users to scale their events seamlessly.

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