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Virtual Meeting Software (3D Virtual Event) Market to Rise at 17% CAGR till 2027; Healthy Market Competition has Encouraged Companies to Focus on Product Innovations

November 02, 2020 | Information & Technology

The global virtual meeting software market size is projected to reach USD 41.58 billion by the end of 2027. The massive investments in the integration of cloud-based platforms will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Virtual Meeting Software (3D Virtual Event) Market Size, Share & COVID-19 Impact Analysis, By Type (VR Headset, Without VR Headset), By Function (Virtual Event, Video Conferencing, Mobile Event App, Event Management, Lead Retrieval, Attendee Management, Gamification, and Others), By Deployment (On-premises and Cloud), By Enterprises Size (Small & Medium Enterprises and Large Enterprises), By Industry (BFSI, IT & Telecommunication, Education and Research, Automotive, HealthCare, Media & Entertainment, Others), and Regional Forecast, 2020-2027” the market was worth USD 12.11 billion and will exhibit a CAGR of 17% during the forecast period, 2020-2027.


Virtual meeting software (3D virtual event) is used to establish seamless video communication network over the internet. The presence of several large-scale companies across the world is consequential to the increasing demand for the product. The rising integration of unified communication as a service (UCaaS) will create several growth opportunities for the companies operating in the market. The increasing investments in the research and development of efficient products will emerge in favor of market growth. The use of concepts such as artificial intelligence has enhanced the applications of 3D virtual events. The recent coronavirus outbreak has played a massive role in the growth of the global virtual meeting software market in the past few months and the changing work patterns will create a massive platform for growth in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/virtual-meeting-software-3d-virtual-event-market-104064


Streampoint’s New Interactive Virtual Platform for Live Streams is a Major Highlight of Recent Times


The report highlights a few of the major industry developments of recent times and discusses their impact on the global market. Accounting to the massive demand for virtual meeting software across the world, there is a healthy market competition. As a result, companies in this sector are focused on product innovations as a way to expanding their businesses across the world. In May 2020, StreamPoint announced the launch of a new product in the virtual meeting software space. The company introduced ‘Streampoint Live,’ a product that customizable to cater to real time applications and user specific requirements. The product offers a customizable virtual platform for meetings and video conferences across major IT applications. Increasing number of such product innovations will have a huge impact on the growth of the overall market in the forthcoming years.


Advances in 5G Networks will Emerge in Favor of Market Growth


The report discusses several factors that have contributed to the growth of the market in recent years. The increasing adoption of concepts such as artificial intelligence and the internet of things will have a huge impact on the growth of the virtual meeting software (3D virtual event) market in the coming years. The ease of availability of low-cost cloud platforms and the rising internet penetration will be pivotal to the growth of the market in the foreseeable future.


Industry Developments:



  • May 2020: - Streampoint solutions launched its new customizable virtual event platform - “StreampointLIVE”. The aim is to offer customizable virtual platform for end-users to perform events and meetings amidst COVID-19 crisis.


The global virtual meeting software is segmented on the basis of:

















































ATTRIBUTES    



DETAILS        



Study Period



  2016 – 2027



Base Year



  2019



Forecast Period



  2020 – 2027



Historical Period



  2016 – 2018



Unit



  Value (USD billion)



 


 


 


 


 


 


 


 


 


 


 


Segmentation



By Type



  • VR Headset

  • Without VR Headset



By Function



  • Virtual Event

  • Video Conferencing

    • Personal Video Meetings

    • Webinars



  • Mobile Event App

  • Event Management

  • Lead Retrieval

  • Attendee Management

  • Gamification

  • Others (Career and Education Fair, etc.)



By Deployment



  • Cloud

  • On-premises



By Enterprises Size



  • Small and Medium Enterprises (SMEs)

  • Large Enterprises



By Industry



  • BFSI

  • IT & Telecommunication

  • Education and Research

  • Automotive

  • Health Care

  • Media & Entertainment

  • Others (Utilities and Manufacturing, etc.)



By Region



  • North America

    • By Type

    • By Function

    • By Deployment

    • By Enterprises Size

    • By Industry

    • By Country

      • U.S.

        • By Industry



      • Canada

        • By Industry



      • Mexico

        • By Industry







  • Europe

    • By Type

    • By Function

    • By Deployment

    • By Enterprises Size

    • By Industry

    • By Country

      • UK

        • By Industry



      • Germany

        • By Industry



      • France

        • By Industry



      • Italy

        • By Industry



      • Spain

        • By Industry



      • Russia

        • By Industry



      • Benelux

        • By Industry



      • Nordics

        • By Industry



      • Rest of Europe







  • Asia Pacific

    • By Type

    • By Function

    • By Deployment

    • By Enterprises Size

    • By Industry

    • By Country

      • China

        • By Industry



      • India

        • By Industry



      • Japan

        • By Industry



      • South Korea

        • By Industry



      • ASEAN

        • By Industry



      • Oceania

        • By Industry



      • Rest of Asia Pacific






 



  • Middle East & Africa

    • By Type

    • By Function

    • By Deployment

    • By Enterprises Size

    • By Industry

    • By Country

      • Turkey

        • By Industry



      • Israel

        • By Industry



      • GCC

        • By Industry



      • North Africa

        • By Industry



      • South Africa

        • By Industry



      • Rest of the Middle East & Africa







  • South America

    • By Type

    • By Function

    • By Deployment

    • By Enterprises Size

    • By Industry

    • By Country

      • Brazil

        • By Industry



      • Argentina

        • By Industry



      • Rest of South America






 Global Virtual Meeting Software (3D Virtual Event) Market
  • PDF
  • 2019
  • 2016-2018
  • 160

    CHOOSE LICENSE TYPE

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