Middle East and Africa Virtual Event Software Market

Market Introduction

The Middle East & Africa region includes countries such as South Africa, Saudi Arabia, and the UAE. The MEA is projected to witness a rapid rise in urbanization and industrialization, which would further drive the growth of the entire economy. The Gulf countries are economically advanced, while the African countries are yet to balance the economic conditions. The global COVID-19 crisis has enforced various tech events and conferences in the Middle East to be postponed or canceled. This has compelled several organizations to conduct virtual events. The tech conferences provide IT leaders the opportunity to seek advanced technologies such as internet of things, artificial intelligence, 5G, and blockchain and offer new methods to optimize legacy systems.

•             Fintex Middle East (also known as Fintex Digital): It is a first-ever large-scale virtual summit for the banking industry.

•             Future Datacenters & Cloud Infrastructure Summit: This data center and cloud conference discuss topics related to data center management, security, and infrastructure.

•             World Fintech Forum, E-Pay Summit, Techspo, IDC CIO Summit, Gulf Information Security Expo, and Conference (GISEC), Future Blockchain Summit, and GITEX are among other conferences designed with latest technologies such as 5G, Digital Marketing, Retail tech, Fintech, AI, and IoT.

•             In 2020, the region experienced Seatrade Maritime Middle East Virtual which attracted the attention of maritime professionals and enabled them to utilize interactive networking opportunities.

•             Finnovex, MEBIS+, Seamless Middle East 2021, Fintech Surge 2021, Middle East Investment Summit 2021, and IFN Middle East Forum 2021 are some of the virtual & live fintech events that are being held in the Middle East.

As per World-o-meter, among Middle East and Africa countries, Turkey has faced the highest number of COVID-19 cases. Other major countries that are facing the economic impact of COVID-19 include Iran, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. The recent nationwide lockdown across South Africa, Saudi Arabia an UAE also have forced the companies to switch there shows and meetings virtually. Hence, the overall impact of COVID-19 on Middle East and Africa region is low to moderate.

Market Overview and Dynamics

The virtual event software market in Middle East & Africa is expected to grow from US$ 669.07 million in 2021 to US$ 1,534.97 million by 2028; it is estimated to grow at a CAGR of 12.6% from 2021 to 2028. The in-person host event industry has experienced a disruption in face-to-face networking, live events, and buzz of an exhibition events owing to COVID-19. This disruption has triggered the scope of virtual events and is expanding across the globe. Therefore, factors such as, Flexible ticketing and smaller micro events are reshaping the event industry and especially virtual events. It has been observed that even in 2021, approximately 90% of event professionals are aiming to invest in virtual events from moving forward. Additionally, around 80% of event organizers/planners are looking ahead to use virtual event and persist with a potential to reach wider group of audience through virtual events. In addition, over 60% of event professionals has turned a physical event into a virtual one owing to COVID-19. Thus, companies like Cvent, Aventri, Ubivent, and Pathable, Inc. are offering advanced virtual event software to help organizers/planners/corporates manage their events successfully.

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 Middle East & Africa 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.; vFairs LLC; and Whova Inc among others.

Reasons to buy report

• To understand the Middle East & Africa 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 Middle East & Africa virtual event software market
• Efficiently plan M&A and partnership deals in Middle East & Africa 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 Middle East & Africa virtual event software market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Middle East & Africa region.

Middle East & Africa Virtual Event Software Market Segmentation

Middle East & Africa Virtual Event Software Market – By Solution

• Software
• Services

Middle East & Africa Virtual Event Software Market – By Enterprise Size

• SMEs
• Large Enterprises

Middle East & Africa Virtual Event Software Market – By End-User

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

Middle East & Africa Virtual Event Software Market – By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Middle East & Africa Virtual Event Software Market – Companies Mentioned

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

Middle East and Africa Virtual Event Software Market Strategic Insights

Middle East and Africa Virtual Event Software Market Segmentation Analysis

Middle East and Africa Virtual Event Software Market Report Highlights

Middle East and Africa Virtual Event Software Report Scope

Middle East and Africa Virtual Event Software Market Country and Regional Insights