North America Virtual Event Software Market Overview and Growth by 2028

The virtual event software market in North America is expected to grow from US$ 4,267.32 million in 2021 to US$ 9,269.20 million by 2028; it is estimated to grow at a CAGR of 11.7% from 2021 to 2028.

Virtual congresses, events, and conferences are crucial economic factors for event industry; however, such events comprise of huge expenditure and long travels for hosts and audiences/attendees. Therefore, to come up with beneficial, ecologically friendly, and cost-efficient alternatives, virtual events, fairs, and online conferences are coming into picture. The factors attributing towards the growth of virtual event includes rapid urbanization and high inclination toward using virtual infrastructure, products, and services by event companies. For purposes such as event marketing, event outsourcing & analytics, and content & social media development, huge adoption of virtual event is witnessed among small and large-scale organizations. Therefore, to manage virtual events efficiently and interact with attendees, virtual event software is gaining a high momentum. Lively interaction in virtual events is guaranteed via inclusion of live chats for public and private communication. Also, the virtual events are utilized to pass-on information and to answer individual questions through live chats. There is also an integration of different interactive tools, including attendee polls, forums, one-on-one or small group networking, and live questions and answers which helps in improving efficiency of events. The above-mentioned features of virtual event software will continue to drive the future growth of virtual event software market

Moreover, virtual events have gained popularity majorly since COVID-19 pandemic outbreak. Spurred by lockdowns, organizations who planned on conducting virtual events got doubled in 2020. It has also been noticed that during COVID-19 pandemic outbreak, even after live events are getting permitted again, 90% of companies are still considering hosting virtual events. Below mentioned are some of the facts about virtual events during COIVD-19 pandemic outbreak:

•    91% companies want to keep attendees connected.

•    Around 2/3rd wants to maintain normalcy in amid of COVID-19

•    Nearly 55-60% wants to attract new members and increase awareness

All aspects mentioned above related to COVID-19 will continue to drive the adoption of virtual event software globally.

North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation and strengthen the networking infrastructure capabilities. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. The dramatic shift to virtual events created all sorts of new challenges for planners.  From rethinking agenda, design and managing remote speakers to dealing with new tech and finding interesting ways of keeping people engaged. Moreover, due to the falling GDP, the market will have negative impact on the growth rate of virtual event software market. The COVID-19 crisis has drastically forced the planner to switch from in-person meetings to virtual meetings. The COVID-19 outbreak has not much affected the event platform provider. However, in the coming years, the virtual event software market is expected to foresee significant growth opportunities owing to the rising demand for digital content and live streaming. Thus, the overall impact of COVID-19 on the North American region is low to moderate.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America virtual event software market. The North America virtual event software market is expected to grow at a good CAGR during the forecast period.

North America Virtual Event Software Market Segmentation

North America Virtual Event Software Market – By Solution

• Software
• Services

North America Virtual Event Software Market – By Enterprise Size

• SMEs
• Large Enterprises

North America Virtual Event Software Market – By End-User

• Trade Show Organizers
• Event Management Agencies
• Corporates
• Academic Organizations
• Others

North America Virtual Event Software Market – By Country

• US
• Canada  
• Mexico     

North America Virtual Event Software Market – Companies Mentioned

• Hopin         
• InEvent Inc.                        
• Pathable, Inc.                      
• Hubilo Technologies Inc.  
• ubivent   
• Cvent Inc.                           
• vFairs LLC                             
• Whova Inc                          
• EventMobi          
• Remo.Co          

North America Virtual Event Software Report Scope