Europe Virtual Event Software Market
Europe is witnessing continuous technological advancements. Norway, Finland, Sweden, the Netherlands, Denmark, Switzerland, and the UK hold a strong position in national tech strength, which contributes to developing advanced technologies and software for industries. This is anticipated to nurture the growth of the virtual event software market. As per the Business Visits & Events Partnership (BVEP), the UK’s event industry generated a revenue of around GBP 70 billion by 2020. Therefore, the growth in the event industry revenue generation would subsequently increase the scope of virtual event software, alongside the continuous technological advancements. The rising trend of virtual events and online conferences in Europe because of the COVID-19 outbreak is further boosting the use of virtual event software. Owing to the cancellation and postponement of offline conferences, webinars, events, and gatherings, the demand for online and virtual events is increasing. Besides, several virtual events and webinars are planned and hosted to offer industry participants with extensive networking opportunities. UK Fintech Week, Collision from Home/MoneyConf, and Open Banking World Congress are a few live conferences and webinars that take place in Europe. With these events getting scheduled, the scope of using virtual event software is anticipated to rise since individuals are not confident about attending in-person events yet. Also, SPARK 2021 and IoT Tech Expo Europe 2021 are among the events that are likely to be held in Europe virtually. Therefore, an increase in the number of events and less interest of individuals in attending events in-person are expected to foster the adoption of virtual event software.
The impact of COVID-19 varied from country to country across the European region, as selected countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown period or social isolation. However, western European countries such as Germany, France, Russia, the United Kingdom, and other owing to robust healthcare infrastructure have witnessed a comparatively moderate decline in their production activities. The European economy is expected to shrink by 0.1%, with negative growth rate in first half of the year 2020, followed by mild recovery in the second-half of 2020. Countries such as UK, Italy, and Germany are expected to have bigger impact on the economy. The imbalance in revenue generation of the companies and the lockdown phase in several European countries will have the significant negative impact on the virtual event software market in the first half of year 2020. Online meetings might lack many of the benefits of an in-person conference: conversations over dinner; and face-to-face networking but in this pandemic situation companies have no option other than doing virtual meetings. The pandemic does not cause a huge impact on virtual event software market. However, the market is expected to have significant growth in forecast period. Thus, the overall impact of COVID-19 on the European region is low to moderate.
Strategic insights for the Europe Virtual Event Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,854.47 Million |
| Market Size by 2028 | US$ 6,311.77 Million |
| Global CAGR (2021 - 2028) | 12.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Solution
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Virtual Event Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The virtual event software market in Europe is expected to grow from US$ 2,854.47 million in 2021 to US$ 6,311.77 million by 2028; it is estimated to grow at a CAGR of 12.0% from 2021 to 2028. With experiencing innovation in event industry, the virtual events are emerging as a new future of event industry. Emerging trend of digitization is projected to drive the scope of virtual event software market in forthcoming period. Below mentioned are some of the trends prevailing in virtual event that would help in penetration the future growth of virtual event software.
Live interpreters, event security, and projection mapping are another technology gaining momentum in virtual event will boost the scope of virtual event software, and thereby boosting the market growth.
In terms of solution, the software segment held a larger share in 2020. Based on enterprise size, large enterprises size segment held the largest share in 2020. Based on end-user, the trade show organizers segment held the largest share in 2020.
A few major primary and secondary sources referred to for preparing this report on the virtual event software market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Hopin; InEvent, Inc.; Pathable; Hubilo Technologies Inc.; ubivent; Cvent Inc.; Whova Inc; and EventMobi among others.
The Europe Virtual Event Software Market is valued at US$ 2,854.47 Million in 2021, it is projected to reach US$ 6,311.77 Million by 2028.
As per our report Europe Virtual Event Software Market, the market size is valued at US$ 2,854.47 Million in 2021, projecting it to reach US$ 6,311.77 Million by 2028. This translates to a CAGR of approximately 12.0% during the forecast period.
The Europe Virtual Event Software Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Virtual Event Software Market report:
The Europe Virtual Event Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Virtual Event Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Virtual Event Software Market value chain can benefit from the information contained in a comprehensive market report.
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