Virtual Events Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Virtual Event Market Statistics, Growth and is Segmented by Service Type (Communication, Recruitment, Sales & Marketing, Training), by Application (Conferences, Exhibitions/Trade Shows, Summits), by End-User Industry (Educational Institutions, Enterprises, Organizations) and by Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Virtual Events Market Size

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Virtual Events Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 216.12 Billion
Market Size (2029) USD 657.45 Billion
CAGR (2024 - 2029) 24.92 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Virtual Events Market

*Disclaimer: Major Players sorted in no particular order

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Virtual Events Market Analysis

The Virtual Events Market size is estimated at USD 216.12 billion in 2024, and is expected to reach USD 657.45 billion by 2029, growing at a CAGR of 24.92% during the forecast period (2024-2029).

The concept of hybrid events, which combine physical and virtual elements, has gained popularity. This trend may continue to drive the virtual events market as organizations seek to reach a wider audience by simultaneously offering in-person and online experiences.

  • Virtual events provide convenience and flexibility for both organizers and participants. Attendees can join from the comfort of their homes or offices, eliminating the need to spend time and effort on travel arrangements. Virtual events also offer the ability to watch recordings or access materials on demand, allowing participants to engage at their own pace.
  • The increasing adoption of Unified Communication as a Service (UCaaS)-based solutions by various organizations and enterprises, including academic institutions, has allowed employees and other resources to virtually engage with all the business proceedings and help in realizing a more efficient and effective workflow, which bodes well for market growth.
  • The convergence of modern technologies such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) is further complementing online communication and collaborative activities to compensate for all the aspects of a physically organized event. Further, companies are rapidly adopting virtual simulation platforms to effectively manage time and resources, driving the market's growth.
  • However, virtual events rely heavily on technology infrastructure, including stable internet connections, streaming platforms, and collaboration tools. Technical issues such as connectivity problems, bandwidth limitations, software glitches, or compatibility issues can impact the user experience and hinder the adoption of virtual events.
  • Additionally, the Work-From-Home (WFH) policy was adopted as a workaround by several companies in response to the lockdowns and restrictions on the movement of people imposed by various governments across the world as part of the efforts to arrest the spread of the coronavirus and has emerged as one of the major factors driving the market. At this juncture, virtual events are decisive in allowing businesses to connect with the remote workforce and conduct business procedures.

Virtual Events Market Trends

Increased Frequency of Business Events may Drive the Market Growth

  • Virtual events allow businesses to overcome geographical barriers and reach a global audience. Attendees can join from anywhere worldwide without needing to travel, making it easier for enterprises to connect with customers, partners, and employees worldwide.
  • Moreover, virtual events offer flexibility in terms of timing and accessibility. Attendees can join from their homes or offices, eliminating the need for travel and time away from work. Virtual events also allow on-demand content, allowing attendees to conveniently access presentations, workshops, and resources.
  • Further, technological advances have made it easier than ever to host virtual events. Reliable video conferencing platforms, interactive virtual environments, and networking tools have improved the overall experience and engagement levels during virtual events. Businesses use these technological advancements to create immersive and interactive virtual experiences for their audiences.
  • Additionally, virtual events offer valuable data analytics and insights that can help businesses measure the success of their events and make data-driven decisions. Metrics such as attendee engagement, session popularity, and lead generation can be tracked and analyzed in real time, providing businesses with valuable information to optimize future events. The availability of such data-driven insights further fuels the demand for virtual events as businesses seek to improve their event strategies and outcomes.
  • Such factors are significant in recognizing the potential of virtual events across various businesses and driving the market growth. According to the Ten Times website data, approximately 33 thousand events were published on an event platform for the United States between May 2022 and April 2023, making it the country with the most conferences, business meetings, and trade exhibitions scheduled during that time. With 6.4 thousand events spanning all industries, the United Kingdom came in second.
Virtual Events Market: Number of Conferences and Trade Show Events Planned, in Thousand, By Selected Countries, Global, May 2022 - April 2023,

North America to Hold the Highest Market Share

  • North America is home to developed economies like the United States and Canada, which further drive advanced networking infrastructure. The region is widely recognized as an early adopter of the latest technologies and is considered a business hub. The rapid increase in the application of digitally simulated platforms, primarily in the healthcare industry, is expected to drive market growth in Canada over the forecast period.
  • The rising disposable income, continued development of UCaaS applications, and the growing number of start-ups and conglomerates in these regions are among other factors driving the growth of the studied market.
  • In addition, North America has a robust technological infrastructure, including reliable internet connectivity and advanced digital platforms. This infrastructure enables seamless hosting and participation in virtual events, leading to increased adoption and growth in the market. For instance, as per GSMA reports, there will be about 280 million 5G connections in North America by 2025, or roughly two-thirds of all mobile connections.
  • Furthermore, according to a recent Harris poll among adults in the United States, most respondents (61%) pointed to safety concerns as the major reason for choosing a virtual event. However, 43% enjoyed the convenience, and 39% welcomed the ability to attend events far from home as some of the major driving trends for virtual events.
  • North America has a thriving business ecosystem across various industry verticals, including technology, finance, healthcare, entertainment, education, and more. Each of these sectors has unique requirements and opportunities for virtual events. As businesses within these industries recognize the benefits and potential of virtual events, they are increasingly adopting and investing in virtual event solutions, driving the market's growth.
Virtual Events Market -  Growth Rate by Region

Virtual Events Industry Overview

The virtual events market is highly competitive and has several regional and global players. The industry is characterized by various players offering various solutions and services to cater to different aspects of virtual events. This fragmentation is evident in the diversity of virtual event platforms, software providers, streaming services, event management tools, and other supporting technologies. A few prominent players in the market include 6Connex International sp. z.o.o., Zoom Video Communications, Inc., Alive Events Agency, Cvent, Inc., and Avaya LLC.

In February 2023, Hubilo, a virtual and hybrid event technology provider, disclosed that the firm acquired Fielddrive, a business with offices in Belgium specializing in on-site event technology such as check-in, badging, and access management. The trend of virtual event firms enhancing their in-person skills is continued with this acquisition. Examples include Hopin's addition of Boomset and MeetingPlay's combination with Aventri and Eventcore to establish Stova.

In August 2022, Zoom acquired Liminal, a startup, and two founders, and the Zoom-based broadcast tools company developed. Zoom would directly integrate Liminal's add-ons for generating professional virtual events, ZoomOSC and ZoomISO, into its software as part of the deal. Zoom claimed that purchasing these assets from Liminal would help the platform bridge the gap between emerging and traditional event control technologies.

Virtual Events Market Leaders

  1. 6Connex International sp. z.o.o.

  2. Zoom Video Communications, Inc.

  3. Alive Events Agency

  4. Cvent, Inc.

  5. Avaya LLC

*Disclaimer: Major Players sorted in no particular order

Virtual Events Market Concentration
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Virtual Events Market News

  • May 2023: Tech startup VOSMOS, which focuses on the metaverse and virtual experiences, has introduced VOSMOS. Events, a platform for user-created virtual events Individuals and organizations may organize dynamic, secure virtual events of any size with the help of VOSMOS.Events. The offering, created by the Indian company VOSMOS, provides a subscription-based business model and allows customers to conduct virtual events with anywhere between 100 and more than 1 lakh participants.
  • October 2022: Zoom, a platform for video conferences, introduced 'Zoom Events' in India, allowing users to create immersive and compelling virtual events on a single platform. To enhance the return on investment from the online experience, Zoom Events was expected to also provide a variety of custom branding elements to increase brand reach beyond the confines of a conference center.

Virtual Events Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Technology Advancements such as Growing Acceptance of Unified Communication as a Service (UCAAS), VR, etc.

      2. 5.1.2 Increased Frequency of Business Events

      3. 5.1.3 Global Reach, Accessibility, and Cost Efficiency

    2. 5.2 Market Restraints

      1. 5.2.1 Data Security and Privacy Issues

      2. 5.2.2 Technology Constraints and Experiential Limitations

  6. 6. MARKET SEGMENTATION

    1. 6.1 Service Type

      1. 6.1.1 Communication

      2. 6.1.2 Recruitment

      3. 6.1.3 Sales & Marketing

      4. 6.1.4 Training

    2. 6.2 Application

      1. 6.2.1 Conferences

      2. 6.2.2 Exhibitions/Trade Shows

      3. 6.2.3 Summits

      4. 6.2.4 Others

    3. 6.3 End-User Industry

      1. 6.3.1 Educational Institutions

      2. 6.3.2 Enterprise

      3. 6.3.3 Organizations

      4. 6.3.4 Other End-User Industries

    4. 6.4 Geography***

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia

      4. 6.4.4 Australia and New Zealand

      5. 6.4.5 Latin America

      6. 6.4.6 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 6Connex International sp. z.o.o.

      2. 7.1.2 Alive Events Agency

      3. 7.1.3 Zoom Video Communications, Inc.

      4. 7.1.4 Avaya LLC

      5. 7.1.5 Cvent, Inc.

      6. 7.1.6 ALE International

      7. 7.1.7 Arkadin Cloud Communications

      8. 7.1.8 Cisco Systems, Inc.

      9. 7.1.9 Cvent Inc.

      10. 7.1.10 Eventxtra

      11. 7.1.11 George P. Johnson

      12. 7.1.12 GES

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific' and Latin America and Middle East and Africa will be considered together as 'Rest of the World'
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Virtual Events Industry Segmentation

Virtual events refer to gatherings, conferences, meetings, or exhibitions entirely online or in a digital environment. The market for the study defines the revenue accrued from the sales of various virtual events encompassing multiple formats, including webinars, live-streamed conferences, virtual trade shows, online workshops, networking sessions, and virtual exhibitions.

The virtual events market is segmented by service type (communication, recruitment, sales, marketing, training), application (conferences, exhibitions, trade shows, and summits), end-user industry (educational institutions, enterprises, and organizations), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

Service Type
Communication
Recruitment
Sales & Marketing
Training
Application
Conferences
Exhibitions/Trade Shows
Summits
Others
End-User Industry
Educational Institutions
Enterprise
Organizations
Other End-User Industries
Geography***
North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
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Virtual Events Market Research FAQs

The Virtual Events Market size is expected to reach USD 216.12 billion in 2024 and grow at a CAGR of 24.92% to reach USD 657.45 billion by 2029.

In 2024, the Virtual Events Market size is expected to reach USD 216.12 billion.

6Connex International sp. z.o.o., Zoom Video Communications, Inc., Alive Events Agency, Cvent, Inc. and Avaya LLC are the major companies operating in the Virtual Events Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Virtual Events Market.

In 2023, the Virtual Events Market size was estimated at USD 162.26 billion. The report covers the Virtual Events Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Virtual Events Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Virtual Events Industry Report

Statistics for the 2024 Virtual Events market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Virtual Events analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Virtual Events Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)