Europe Virtual Event Software Market

Market Introduction

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.

Market Overview and Dynamics

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.

AR & VR Experiences- Augmented and virtual realities are becoming as the latest trend in event industry. Augmented reality grabs attention and encourages participants to interact with other participants in event. This Solution enhances consumer experience, resulting in more social media shares, media attention, and engagement. Also, visual reality on the other side is a Solution which enable the user to step into computer-generated 3D world.

Event Apps- In B2B sector, events apps are an upcoming trend in 2021. The event apps make entire functioning of events smoother and much faster. The trend is already getting used in B2C sector to accelerate communication and engagement during corporate planning of events. Event apps can be tailored according to individual requirements to organize event experience for delegates.

Facial Recognition- This Solution is in its initial phase. Its primary requirement is to enhance registration process and speed up check-in for attendees. Through facial Solution, lesser waiting time will be achieved in registration process. Also, the Solution improves event security, which is a foremost consideration especially in case of larger events.

Live Translation- With live translation, any live event can be available for participants globally. In such cases, the event in a native language can also result into international interest. Live translation feeds can be accessed via earpieces, headphones, and online access.

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.

Key Market Segments

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.

Major Sources and Companies Listed

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.

Reasons to buy report

• To understand the Europe virtual event software market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe virtual event software market
• Efficiently plan M&A and partnership deals in Europe virtual event software market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe virtual event software market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

Europe Virtual Event Software Market Segmentation

Europe Virtual Event Software Market – By Solution

• Software
• Services

Europe Virtual Event Software Market – By Enterprise Size

• SMEs
• Large Enterprises

Europe Virtual Event Software Market – By End-User

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

Europe Virtual Event Software Market – By Country

• Germany
• France
• Italy
• Russia
• UK
• Rest of Europe     

Europe Virtual Event Software Market – Companies Mentioned

• Hopin         
• InEvent Inc.                        
• Pathable, Inc.                      
• Hubilo Technologies Inc.  
• ubivent   
• Cvent Inc.                           
• Whova Inc                          
• EventMobi          

Europe Virtual Event Software Market Strategic Insights

Europe Virtual Event Software Market Segmentation Analysis

Europe Virtual Event Software Market Report Highlights

Europe Virtual Event Software Report Scope

Europe Virtual Event Software Market Country and Regional Insights