South America Virtual Event Software Market
No. of Pages: 88 | Report Code: TIPRE00025360 | Category: Technology, Media and Telecommunications
No. of Pages: 88 | Report Code: TIPRE00025360 | Category: Technology, Media and Telecommunications
SAM includes countries such as Brazil and Argentina. The event and corporate meeting sectors in the region are flourishing. In nearly every type, beginning from product demos to training seminars to customer-centric gatherings and leadership summits, the number of events and meeting spaces increased in 2019. With the increase in customer-centric gatherings, virtual event planners are expected to experience significant growth in the number of conferences and seminars as respective businesses seek to grow their companies. In the last few months, technological adoption in all events and meetings in rising. As a matter of fact, for convenience and cost-savings, event planners are demanding virtual Solution to enable remote participants to ensure more attendees in sessions. In the rise of the COVID-19 pandemic, virtual meetings and online conferences are gaining high traction across the region. In the event industry, the region is a different destination possessing a new and recognizable culture. Countries such as Brazil, Argentina, Colombia, Ecuador, and Peru gain a lot of attention from event companies. With more than 25 years as one of the notable technical events for the E&P industry in South America, the next SPE Latin American and Caribbean Petroleum Engineering Conference (LACPEC) was held virtually in July 2020. The region is taking leverage of virtual networking with experts/professionals globally. The virtual event software enables the participants and host to increase networking with other colleagues and professionals through virtual lounge. In the LACPEC event, the professionals were offered with a virtual space for networking with energy & power professionals through virtual platforms, chats, and one-on-one calls. Moreover, ICEF Latin America is looking ahead to virtually conduct events and webinars. This will impact the penetration of virtual event software in the region to ensure the uninterrupted business of industries and enable them to conduct their webinars through web and software.
Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter and is expected to rebound once the pandemic is contained. Several countries in South America have been severely affected by the COVID-19 outbreak. Brazil has had the worst hit in the region, with the number of positive cases continuing to surge on a daily basis. The pandemic has had a positive impact on the virtual event platform market. The COVID-19 pandemic has enabled transformation of traditional events to virtual events with the help of virtual event platform. Hence, the overall impact of COVID-19 on South America region is moderate.
Strategic insights for the South America 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$ 341.02 Million |
| Market Size by 2028 | US$ 795.64 Million |
| Global CAGR (2021 - 2028) | 12.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Solution
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America 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 South America is expected to grow from US$ 341.02 million in 2021 to US$ 795.64 million by 2028; it is estimated to grow at a CAGR of 12.9% from 2021 to 2028. Technological developments such as software-as-a-service based virtual events is generating a huge impact on the trend of conducting events virtually. The cloud-based tool allows the end user to provide interactive experience while enhancing overall sales experience through podcasting, instant messaging, and virtual product experience. Also, another Solution making a positive impact in the growth of virtual events is Connect through Live Streaming. Live streaming events enable larger number of participants to access content resources to assist them align with context better. Connect through live streaming is a process of streaming entire live video in real-time. The participants can enjoy presentations as live streaming are real and more authentic; unlike edited videos which feels distant and manipulated. For instance, companies such as Airmeet provides live video streaming in a HD quality with different engagement features such as group chat, Q&A, “social lounge with agenda”, and “raise hand”. The new product is accessible on any modern browser”. Hybrid Events is another aspect that would help in creating lucrative business opportunities for the growth of virtual events. The COVID-19 pandemic has transformed the event industry to assist planners and companies make better decisions utilizing virtual event Solution. As 2020 witnessed many virtual events, 2021 will observe a rise of hybrid events. Since vaccination is getting rolled up globally, it might become possible to commence with hosting in-person events. However, every attendee will not be comfortable with attending physical conferences and events so soon. Therefore, to assist in this case, hybrid events would play a positive role in boosting adoption of virtual event software. Hybrid events help the event planners to host event with limited number of physical attendees in one location and at a same time would give an online hub too for virtual attendees to take participation in events freely. Moreover, it is projected that over 65% of events professionals aims to utilize hybrid event format once in-person events start again. All aspects aforesaid about hybrid events and live streaming feature in virtual event software would help in accelerating 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 South America 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.; and ubivent among others.
The South America Virtual Event Software Market is valued at US$ 341.02 Million in 2021, it is projected to reach US$ 795.64 Million by 2028.
As per our report South America Virtual Event Software Market, the market size is valued at US$ 341.02 Million in 2021, projecting it to reach US$ 795.64 Million by 2028. This translates to a CAGR of approximately 12.9% during the forecast period.
The South America 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 South America Virtual Event Software Market report:
The South America Virtual Event Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Virtual Event Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Virtual Event Software Market value chain can benefit from the information contained in a comprehensive market report.
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