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Virtual Events Market size is set to grow by USD 558.9 million from 2024-2028, Rise in number of corporate events boost the market, Technavio

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NEW YORK, June 25, 2024 /PRNewswire/ — The global virtual events market size is estimated to grow by USD 558.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  30.25%  during the forecast period. Rise in number of corporate events is driving market growth, with a trend towards growing popularity of virtual events in education. However, emerging threat from open-source virtual events solutions  poses a challenge. Key market players include 8×8 Inc., Active Network LLC, Adobe Inc., ALE International, Atlassian Corp. Plc, Avaya LLC, Aventri Inc., Bizzabo, Cadence Design Systems Inc., Cisco Systems Inc., Cvent Holding Corp., EventX Ltd., Huawei Technologies Co. Ltd., Hubb, International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Toshiba Corp., Ungerboeck, and Zoom Video Communications Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Virtual Events Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 30.25%

Market growth 2024-2028

USD 558.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

23.32

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 29%

Key countries

US, China, Germany, Japan, and UK

Key companies profiled

8×8 Inc., Active Network LLC, Adobe Inc., ALE International, Atlassian Corp. Plc, Avaya LLC, Aventri Inc., Bizzabo, Cadence Design Systems Inc., Cisco Systems Inc., Cvent Holding Corp., EventX Ltd., Huawei Technologies Co. Ltd., Hubb, International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Toshiba Corp., Ungerboeck, and Zoom Video Communications Inc.

Market Driver

Virtual events are gaining popularity in traditional educational institutions, offering students flexible learning opportunities. These events provide access to qualified instructors, reducing expenses and enhancing knowledge. Virtual events employ game dynamics to boost student engagement and develop time management skills. Conferencing facilitates real-time interactions between students and faculty, while social media integration fosters connections. Online classes, such as those offered by Cisco WebEx Training Center, offer high-definition video for face-to-face interaction and collaborative learning experiences. These factors are expected to fuel the growth of the global virtual events market. 

The virtual events market is experiencing significant growth with the adoption of technology for conferencing and networking. Advanced video conferencing platforms enable interactive sessions, live polls, and virtual exhibitions. The trend towards remote work and social distancing measures have accelerated this shift. Companies are investing in customizable event solutions, providing engaging experiences for attendees. Decision-making tools and analytics help event organizers measure success and optimize future events. The convenience and cost savings of virtual events make them an attractive alternative to traditional in-person events. The future of events is digital, with continued innovation and improvement in technology driving the market forward. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

Open-source virtual events pose a significant challenge to the commercial virtual events market. Micro and small-scale enterprises and individual users prefer these freely available solutions due to their cost-effectiveness. Basic features of proprietary virtual events are replicated in most open-source alternatives. This trend is hindering the growth of the global virtual events market, particularly for small-scale events. Open-source software’s accessibility across all platforms further intensifies the competition.The virtual events market has seen significant growth due to the ongoing pandemic. However, it presents unique challenges. Real-time interaction and engagement are crucial for success. Augmented reality and virtual reality technologies can enhance the experience but require considerable investment. Technical issues, such as connectivity and bandwidth, can disrupt events. The lack of physical presence limits networking opportunities. Sponsorships and advertising revenues are also uncertain. Collaboration and innovation are essential to overcome these challenges and provide valuable experiences for attendees.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This virtual events market report extensively covers market segmentation by  

Application 1.1 UC and C and video conferencing1.2 Web conferencingType 2.1 Webinar2.2 Conference2.3 Virtual expo fairs and festivals2.4 EntertainmentGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 UC and C and video conferencing-  The virtual events market is experiencing significant growth as businesses adapt to the new normal. Companies are turning to virtual platforms to host conferences, product launches, and training sessions. This shift offers cost savings, increased accessibility, and the ability to reach a global audience. Virtual events provide a professional and engaging experience, allowing attendees to network and interact with each other in real-time. Companies can measure attendance, engagement, and ROI through analytics tools, making virtual events an effective marketing strategy.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Virtual Events Market has experienced significant growth in various sectors, including Retail & e-commerce, Healthcare, Manufacturing, Construction, Academic institutions, and the Virtual events industry itself. With the implementation of Work-From-Home (WFH) policies and lockdowns due to Coronavirus, digitally simulated events have become the new norm for Sales meetings, Job fairs, Summits, Exhibitions, and Trade shows. Modern technologies, such as artificial intelligence (AI) and networking solutions, have played a crucial role in facilitating seamless business proceedings and maintaining connectivity networks for employees and resources. However, the shift to virtual events has also brought new challenges, including cyberattacks and ensuring secure and reliable workflows. Despite these hurdles, the adoption of virtual events is here to stay, transforming the way we conduct business in the post-pandemic world.

Market Research Overview

The Virtual Events Market has experienced significant growth due to the ongoing global health crisis. This shift towards virtual events is driven by the need for social distancing and the convenience they offer. Virtual events encompass a wide range of activities, including conferences, seminars, product launches, and networking events. They offer various features such as live streaming, on-demand access, interactive sessions, and virtual exhibitions. The market is expected to continue growing as technology advances and businesses recognize the benefits of virtual events. Virtual events provide cost savings, increased accessibility, and the ability to reach a global audience. They also offer valuable data and analytics, enabling organizations to measure engagement and ROI. The market is segmented based on type, application, and region. Types include webinars, virtual conferences, and hybrid events. Applications include corporate training, product launches, and educational events. Regions include North America, Europe, Asia-Pacific, and the Middle East and Africa.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationUC And C And Video ConferencingWeb ConferencingTypeWebinarConferenceVirtual Expo Fairs And FestivalsEntertainmentGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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SecurityGen and NEC Team Up to Strengthen Cybersecurity Operations for Indonesian Telcos

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Harnessing future-ready solutions and expertise to safeguard Telecom networks against emerging threats

JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — In a significant development for telecom cybersecurity, SecurityGen, an award-winning global leader in telecom cybersecurity, and PT NEC Indonesia, a leader in IT, network and AI technologies and a multi-vendor system integrator, have announced a partnership to strengthen telecom network defences across Indonesia. This alliance brings together SecurityGen’s cutting-edge security solutions and NEC’s extensive expertise in telecom infrastructure in a bid to combat a spectrum of increasingly advanced cyber threats.

The partnership aims to enhance the performance, reliability, and security of telecom networks throughout the region with SecurityGen providing future-ready threat-informed defence platform, comprising its Breach Attack platform and Monitoring system, and NEC offering crucial professional services to support and optimize these advanced security solutions. SecurityGen will also ensure rapid, effective deployments through comprehensive training and onboarding. By focusing on future-proofed solutions and fostering local talent, this partnership supports NEC’s vision of bolstering its security-as-a-service offering and solidifying its position as a trusted partner for Indonesian telcos.

This collaboration becomes even more vital given the speed with which telecom networks are evolving – making them increasingly complex and vulnerable. Unfortunately, traditional security measures are not effective enough anymore. By integrating advanced, AI-powered threat intelligence with automated security systems, this partnership aims to provide telco SOCs with unprecedented visibility into signalling traffic and robust validation against real-world attacks. This proactive approach, with in-built remediation, will not only mitigate breach risks but also equip security teams with the essential tools and expertise to counteract sophisticated cyber threats and maintain business resilience.

Amit Nath, Co-Founder & CEO of SecurityGen, said, “Our partnership with NEC is a crucial step towards fortifying Indonesia’s telecom sector with the expertise and tools essential for securing modern networks and operations. Together, we’re committed to building local competencies and implementing advanced, research-driven strategies to ensure the long-term security and resilience of the telecom infrastructure.”

Joji Yamamoto, President Director of NEC Indonesia said, “”In Indonesia, we have seen rapidly increasing growth of cloud services, and connected devices and subscribers for IoT use cases. NEC Indonesia welcomes the partnership with SecurityGen to join forces in advancing network security in Indonesia to protect information assets through the introduction and operation of measures against cyber-attacks.”

***

About SecurityGen
Founded in 2022, SecurityGen is a global leader in telecom security. We provide a solid security foundation to drive secure telecom digital transformations and ensure safe and robust network operations. Our extensive product and service portfolio offers complete protection against existing and advanced telecom security threats. www.secgen.com

About PT. NEC Indonesia

NEC first established its Jakarta Representative Office in 1968. Through the years, PT. NEC Indonesia recognized the importance of instituting telecommunications infrastructure for the country and has introduced several NEC technologies and solutions. This has resulted in PT. NEC Indonesia achieving the market leader position of being a total solutions provider for the Indonesian telecommunications industry.

Today, with its headquarters in Jakarta, PT. NEC Indonesia continues to play a significant role in providing total telecommunications and IT business solutions to its customers in the government and enterprise businesses. For more information, please visit http://id.nec.com/ 

 

 

 

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SOURCE PT. NEC Indonesia

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Patricia Calderon, Global Head of Water of CDP: How to drive water action across supply chains

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JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — This is an article from Patricia Calderon, Global Head of Water of CDP:

Supply chains are the knots that tie our global economy together and allow it to operate as it does.

In recent years those knots have become more complex and fragile.

Major trade routes can be held up by conflict, politics, or simply a container ship running aground. The world is deeply dependent on pinch points functioning with high volumes of traffic and little to no barriers. Below that level exist smaller, more intricate threads which have built up over time, across borders and through river basins.

The fragility now baked into the system is, in part, a result of our changing climate and the unsustainable nature of supply chains. Building resilience within supply chains to adapt to frequent extreme weather events is now crucial. Lessening their environmental impact is part of the same equation.

Deep dive

New research from CDP, the global non-profit leading the world’s environmental disclosure system for companies, cities, states, and regions, has examined the problem using data directly from companies.

We looked at 3,163 large companies with an annual revenue of more than EUR/ US$250 million. These companies disclosed to CDP’s annual water security questionnaire. A total of 1,542 companies – 50% – responded that they are engaging their supply chain on water risks. This includes inserting water requirements into supplier contracts, collecting water data, raising awareness of water issues, or collaborating on innovation.

Further analysis provides a unique insight into how some of the world’s largest brands are grappling with water issues. 1 in 5 companies are facing supply chain risks which could have a substantive financial or strategic impact on their business. These risks were estimated to total US$77 billion. And according to 79 businesses, a total of US$7 billion was deemed to be at immediate risk due to urgent water scarcity, food, regulatory and reputational issues.

Stem the tide

The data is clearly telling us our water supplies are becoming ever more fragile and the financial toll is mounting up. It’s down to large companies with the biggest water impacts to take immediate action, working with their suppliers to stem the tide of water risk.

Our research points to some of the tools currently being used by responsible companies – financial incentives, stricter contracts, and closer engagement are key. A group of forward-thinking businesses are already working on the problem. 443 businesses – 14% – offer their senior leaders, including the board, incentives to improve water management across the supply chain. A smaller group provide direct financial incentives to their chief procurement or purchasing officers.

Buyers and suppliers need to collaborate to ensure sustainability is a business norm. Recognizing it as a key differentiator among suppliers will be essential going forward. If we fail to address these issues the mounting financial impact of water risks will become all too apparent.

Going beyond

The report makes a strong case for companies to take immediate action on water issues in their supply chain and offers six key steps for companies. Each one of these indicators follows from the next: assess supply chain risks and impacts; set global targets; incentivize executives to act; include water in supplier requirements; engage with suppliers; and incentivize and support suppliers.

Ensuring supply chains can build resilience, reduce water risks, and keep our economies going is within reach. But to do so quickly and comprehensively we need to go beyond voluntary measures. The bar should be raised much higher in order to close the gap between where we are now and need to be.

Stronger regulation for mandatory disclosure and transparent reporting mechanisms are imperative to drive progress. This requires a combined approach with government policy, industry standards, and stakeholder engagement all playing a role.

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SOURCE CDP

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J-Stories launches special page to report on largest Japan-Taiwan summit bringing together startups and investors in the region

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This year’s event in Tokyo expanded to its largest scale yet amid growing interest in Taiwan’s dominant semiconductor and AI sectors

Japan’s solutions-focused news service J-Stories is an official media partner of the 2024 Japan-Taiwan Innovations Summit. Here’s J-Stories’ special page where summit-related stories are featured in partnership with Startup Island TAIWAN, Taiwan’s national startup brand. J-Stories is run by Tokyo-based media agency Pacific Bridge Media & Consulting.

TOKYO, Sept. 23, 2024 /PRNewswire/ — The 2024 Japan-Taiwan Innovation Summit, the largest startup event to date featuring Japanese and Taiwanese aspiring to expand overseas, was held this month (Sept.17-18) in central Tokyo. Over 1,000 participants from various sectors – including politics, academia, large business and media – engaged with approximately 70 innovative startups over the two days.

The annual summit, which started two years ago, expanded further from previous years, incorporating cutting-edge industries, including AI, biomedical science, cybersecurity, digital services, fintech, defense and aerospace.

The two-day event was co-hosted by Taiwan’s National Development Council (NDC), a government body of Taiwan, and the Tokyo Metropolitan Government. Tokyo-based media agency Pacific Bridge Media & Consulting also supported the event as the official media partner, featuring various reports and videos about the event on a special online page, bridging the gap between Taiwan’s top entrepreneurs and the startup community in Japan.

Discussed among the main topics were Taiwan’s booming semiconductor supply chain and its uninhibited growth potential within the next decade. Taiwan’s leading chipmaker, TSMC, was launched as a startup more than three decades ago with the support of the Taiwanese government. Now, the international company is building factories in southern Japan, giving those in Tokyo high hopes for Taiwan’s investments in bumping up semiconductor production capabilities and building more factories in Japan.

At this year’s summit, it was not only Taiwanese entrepreneurs who took the floor, but also Japanese startups. The summit featured a significant number of Japanese participants from financial institutions, venture capitalists, and trading companies. This increased Japanese involvement is expected to strengthen the JapanTaiwan network and contribute to the development of a thriving international ecosystem.

To start Day 1, Taiwan’s NDC Minister Liu Chin-Ching (Paul Liu), the Taiwanese delegation leader for this summit, took the stage. Minister Liu stated: “We are implementing the ‘Bridge Plan’ to expand innovation internationally. While we have been advancing innovation domestically in Taiwan, our future goal is to pursue international collaboration, with Japan being our first partner.” He emphasized the significance of Japan and Taiwan’s collaborative efforts. 

A video message from Tokyo Gov. Yuriko Koike was shown following Liu’s speech. She emphasized, “Taiwan and Japan have built a strong cooperative relationship. Let’s join forces between Tokyo and Taiwan to launch significant innovation.”

Among the speakers was Kei Furukawa, an Investment Partner at UTokyo IPC, who gave a lecture titled “Innovation and Startup Development Systems at the University of Tokyo VC,” discussing the advancement of innovation and entrepreneurship through collaboration between government and universities in Japan.

Additionally, there were presentations from Japanese and Taiwanese startups and innovation companies, speeches by notable guests, and more. The summit concluded with an invitation-only opening ceremony for the Taiwan Startup Tokyo office and a gala dinner with investors.

Visit J-Stories’ special page here:
https://jstories.media/jp/specials/jtis

Event Overview:

Name: 2024 Japan-Taiwan Innovation SummitDate: September 17 (Tuesday) – 18 (Wednesday), 2024, 10:00 AM – 5:00 PMVenue: Tokyo Innovation Base (TiB) 2nd Floor (3-8-3 Marunouchi, Chiyoda-ku, Tokyo, in front of Yurakucho Station)Format: On-site participationLanguages: Chinese, Japanese, and English (with simultaneous interpretation)Organizer: Startup Island TAIWAN

For more information on the Japan-Taiwan Innovation Summit 2024, please click here:

https://togethergobig.jp/en-summit

About J-Stories:

J-Stories is an online news platform that communicates innovative ideas, products, and technologies from Japan that address global issues to audiences and investors worldwide in Japanese, English, and Chinese. As the media partner for the “2024 Japan-Taiwan Innovation Summit,” J-Stories will be publishing articles about the summit before and after the event. J-Stories is run by Tokyo-based multilingual media agency Pacific Bridge Media & Consulting.

To receive the latest articles from J-Stories, please subscribe to our newsletter by emailing: jstories@pacificbridge.jp

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SOURCE PACIFIC BRIDGE MEDIA AND CONSULTING

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