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.
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Virtual Event Software – Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Virtual Event Software Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing inclination toward virtual events
5.1.2 Increased application of virtual events by planners
5.2 Key Market Restraints
5.2.1 Raising threat of data protection
5.3 Key Market Opportunities
5.3.1 Occurrence of live streaming feature and rising concept of hybrid events
5.4 Future Trends
5.4.1 Commencement of advanced technologies
5.5 Impact Analysis of Drivers and Restraints
6. North America Virtual Event Software – Market Analysis
6.1 North America Virtual Event Software Market Overview
6.1.1 North America: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Virtual Event Software Market Analysis – By Solution
7.1 Overview
7.2 North America Virtual Event Software Market- by Solution
7.3 Software
7.3.1 Overview
7.3.2 Software: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Virtual Event Software Market – By Enterprise Size
8.1 Overview
8.2 North America Virtual Event Software Market- By Enterprise Size
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Large Enterprises
8.4.1 Overview
8.4.2 Large Enterprises: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Virtual Event Software Market – By End-User
9.1 Overview
9.2 North America: Virtual Event Software Market- By End-user
9.3 Trade Show Organizers
9.3.1 Overview
9.3.2 Trade Show Organizers: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Event Management Agencies
9.4.1 Overview
9.4.2 Event Management Agencies: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Corporates
9.5.1 Overview
9.5.2 Corporates: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Academic Organizations
9.6.1 Overview
9.6.2 Academic Organizations: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Other End-Users
9.7.1 Overview
9.7.2 Other End-Users: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Virtual Event Software Market – Country Analysis
10.1 Overview
10.1.1 North America: Virtual Event Software Market- by Key Country
10.1.1.1 US: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Virtual Event Software Market- by Solution
10.1.1.1.2 US: Virtual Event Software Market- By Enterprise Size
10.1.1.1.3 US: Virtual Event Software Market- By End-user
10.1.1.2 Canada: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Virtual Event Software Market- by Solution
10.1.1.2.2 Canada: Virtual Event Software Market- By Enterprise Size
10.1.1.2.3 Canada: Virtual Event Software Market- By End-user
10.1.1.3 Mexico: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Virtual Event Software Market- by Solution
10.1.1.3.2 Mexico: Virtual Event Software Market- By Enterprise Size
10.1.1.3.3 Mexico: Virtual Event Software Market- By End-user
11. North America Virtual Event Software Market – COVID-19 Impact Analysis
11.1 Overview
12. North America Virtual Event Software Market – Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Product Launch
13. Company Profiles
13.1 Cvent Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 EventMobi (5Touch Solution Inc.)
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Hopin
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 InEvent Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Pathable, Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Hubilo Technologies Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Remo.Co
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 ubivent
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 vFairs LLC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Whova Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. US: Virtual Event Software Market- by Solution –Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Virtual Event Software Market- By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Virtual Event Software Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Virtual Event Software Market- by Solution –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Virtual Event Software Market- By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Virtual Event Software Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Virtual Event Software Market- by Solution –Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Virtual Event Software Market- By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Virtual Event Software Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 10. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Virtual Event Software Market Segmentation
Figure 2. North America Virtual Event Software Market Segmentation – By Country
Figure 3. North America Virtual Event Software Market Overview
Figure 4. Software Segment Held the Largest Market Share in 2020
Figure 5. Large Enterprises Segment Held the Largest Market Share in 2020
Figure 6. Trade Show Organizers End-user Held the Largest Market Share in 2020
Figure 7. US was the Largest Revenue Contributor in 2020
Figure 8. North America – PEST Analysis
Figure 9. Virtual Event Software Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. virtual event software market Impact Analysis of Drivers and Restraints
Figure 12. North America Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America: Virtual Event Software Market Revenue Share, by Solution (2020 and 2028)
Figure 14. Software: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Services: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America: Virtual Event Software Market Revenue Share, By Enterprise Size (2020 and 2028)
Figure 17. SMEs: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Large Enterprises: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America: Virtual Event Software Market Revenue Share, By End-user (2020 and 2028)
Figure 20. Trade Show Organizers: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Event Management Agencies: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Corporates: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Academic Organizations: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Other End-Users: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Geographic Overview of North America Virtual Event Software Market
Figure 26. North America: Virtual Event Software Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. US: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Virtual Event Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in North America
- Hopin
- InEvent Inc.
- Pathable, Inc.
- Hubilo Technologies Inc.
- ubivent
- Cvent Inc.
- vFairs LLC
- Whova Inc
- EventMobi
- Remo.Co
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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