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Professional Services in the Web Events Market : Strong Growth in Web Events Creates Opportunities for Professional Services Attachment

  • November 2014
  • -
  • Frost & Sullivan
  • -
  • 52 pages

Summary

Table of Contents

Executive Summary

•Professional services for web events include support and all wraparound services related to planning, customization, management, delivery, and analytics (pre-, in-, and post-event).
•The web event services market is growing at a fast pace. Global revenue, comprised of technology and professional services, reached $ xx million in 2013, an increase of xx percent over 2012. Professional services contributed xx percent or $ xx million of the total market revenue.
•There has been a strong move in the webcasting segment to self-service events. Leading vendors are reporting that more than xx to xx percent of all events are now self-service; up from none two years prior.
•With the big push to self-service, the attach rate for professional services is going down as a percent of total events. However, self-service is leading to greater usage and frequency of web events thereby increasing the absolute revenue opportunity for attached services.
•The market is undergoing significant pricing shifts with the emergence of all-you-can-use licenses for fixed priced webinars as well as subscription-based licenses for webcasts.
•While the web events market holds strong growth potential, factors such as lack of awareness about solution sets, confusing pricing models, and considerable market fragmentation are holding the market back.
•The shift to persistent virtual environments that fully leverage an organization’s rich content, created from live webcasts and interactions, is expected to trigger the growth for attached services in the virtual events market.

Market Definitions

For the Purpose of this Report, Web Events is Defined as an Umbrella Term Encompassing Webcasting, Webinar and Virtual Event Services
Web events are set of services and technologies that enable delivery of web-based content in real time over the Internet to a large number of simultaneous attendees. Web events are differentiated from collaborative web meetings by scale, business behavior, business requirements, and customer expectations. There are four key aspects that differentiate web events from web conferences—planning, promotion, event delivery, and measurement/evaluation of results.

Planned Live Web Events Conducted in Real Time Include:
•Scheduled and pre-planned events with a start/end time; planned agenda.
•Customizable company-branding; promotion and marketing.
•One presenter, or multiple presenters, addressing many participants—Frost & Sullivan considers web events to be live events with more than 50 participants.
•Web browser-based access and Software-as-a-Service (SaaS) delivery model (on-premises events solutions are not included in this research).
•Audio and data sharing capabilities, which include live and recorded video, as well as two-way communications using methods including chat, Q&A, and polling.
•Recording and playback with storage/archiving services include online portals that leverage the web event’s content on-demand.
•Detailed analytics and reporting.
•Content management and distribution

Webinars/Webcasts: These are typically one-to-many live events that are highly scalable and offer streamed live audio/video along with desktop sharing, polling, survey, and chat capabilities. They are structured and prescheduled, offer extensive reporting capabilities (for lead generation, market segmentation), and offer customized identity branding. Web events are targeted at delivering an organization’s messaging to a large global audience.

Virtual Events: Virtual events or virtual shows are multi day events enabling a “many-to-many” environment for multiple interactions over rich media. Virtual events have underlying differences from web events in technology, business goals, as well as user behavior and expectations. Virtual environments are an offshoot of virtual event platforms. They include always-on online spaces to engage users through a combination of interactive locations, live webcasts, web conferences, social networking, and on-demand content typically simulating a physical location in a 3D or a 2D setting.

Professional Services: Professional services for web events are defined to include all support and wraparound services related to planning, customization, management, delivery, and analytics of web events (e.g., pre-, during-, and post-event). These white glove services remove the burden of event production and management from the customer. Professional services includes a range of services such as advanced registration, customization/branding, content services, media channel marketing and promotion, support and event monitoring, recording and archiving, integration with marketing and sales automation tools, real time in- and post event analytics and reporting.

Major Findings

•The global web event services market grew at a healthy xx percent in 2013 to reach $ xx million in revenue. Professional services contributed xx percent or $ xx million of the total market revenue.
•As the largest segment, webcasting contributes the greatest revenue to attached professional services. In 2013, webcasting solutions generated $ xx million in attached professional services. The webinar segment contributed $ xx million in 2013.
•Two sets of vendors that largely define the marketplace include:
oPure play webcasting and virtual event companies that offer highly scalable and robust webcasting services and virtual events.
oWeb conferencing providers, such as Cisco WebEx and Citrix, that offer webinars that can scale up to several hundred attendees. These vendors also offer webcasting through white label partnerships, creating a unique environment for co-opetition.
•Growing demand from end user organizations indicates web events are going mainstream. The number of events grew xx percent in 2013, with utilization growing as more users migrate to lower priced self-service events and buy subscription-based licenses.
•There has been a concerted effort in the webcasting market to promote self-service events, away from episodic sales of higher priced fully managed events. Leading vendors are reporting that more than xx to xx percent of all events are now self-service; up from none two years prior.
•The rise of lower priced self-service events will lead to greater usage and frequency of web events thereby increasing the opportunity for attached services. The five year compound annual growth rate (CAGR) for web events professional services is xx percent, with revenue forecast to reach xx million in 2018.
•Total web events revenue, including the technology platform and professional services, will show a healthy 11 percent compound annual growth rate (CAGR) from 2013 to 2018, reaching $ xx million by 2018.
•North America continues to be the main purchasing hub for web events and attached professional services. Revenue contribution from EMEA climbed while APAC remains an underpenetrated market.
•Use cases for web events remain centered on marketing, training, town hall meetings, education, virtual trade shows and career fairs.
•Large enterprises with highly dispersed workforce, customers, and partners have adopted web events faster than others. Stronger momentum for self-service events as well as emergence of flat rate webinars is expected to open up rapid SMB adoption.
•The overall web events market is highly fragmented and populated by competitors with highly variable profiles and portfolios. The challenge to promote awareness and education about the solutions, use cases, and implementation requirements continues to impact the market.
•Video has gained momentum. Attach rates for live video in web events is estimated in the range of xx to xx percent and growing. However, the changing nature of video conferencing and the shift to software-centric solutions puts a dampener on the growth opportunities for telepresence integration and associated services for web events.
•Virtual events are moving to virtual environments. Multi-day, one-off, single instance virtual events are in decline. While single instance events still exist for certain applications (e.g., virtual job fairs), customers want to maximize the value and lifespan of content in persistent environments wherein they will need services assistance with content organization and workflows.
•Live events are migrating to Simulive and Moc-live to ensure more compelling delivery with cleaner content and the ability to add other elements such as multimedia integration. Simulive and Moc-live create opportunity for add-on services related to content creation and organization, and event production.

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