GVR Report cover Virtual Events Market Size, Share & Trends Report

Virtual Events Market Size, Share & Trends Analysis Report By Type (Internal, External), By Service (Recruitment, Training), By Industry Vertical, By Application, By End-user, By Establishment Size, By Use-Case, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-795-7
  • Number of Pages: 171
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Virtual Events Market Size & Trends

The global virtual events market size was estimated at USD 65.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 18.8% from 2023 to 2030. The widespread use of collaboration and communication tools in various industries and industry verticals, including retail & e-commerce, healthcare, manufacturing, construction, and education, among others, is anticipated to boost the market growth during the forecast period. The growing adoption of Unified Communication as a Service (UCaaS)-based solutions by various organizations and enterprises, including academic institutions, allows the 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 the market growth.

U.S. Virtual Events market size and growth rate, 2023 - 2030

Google LLC’s Hangouts, Microsoft Corporation’s Microsoft Teams, and Zoom Video Communications, Inc.’s Zoom are some of the UCaaS-based solutions most preferred by corporations. Digital platforms allow users to participate in any event remotely regardless of their location. Several web-based systems can be used to connect attendees from all over the world. The convergence of Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) is particularly allowing online communication and collaborative activities to cover all the aspects of a physical event. Furthermore, companies are rapidly adopting virtual simulated platforms to effectively manage time and resources, thereby driving the growth of the market.

Digitally simulated events can potentially cover various events, including sales meetings, job fairs, summits, audio/video conferences, exhibitions, and trade shows. The Work-From-Home (WFH) policy that was adopted 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, has emerged as one of the major factors driving the market growth. Now, virtual events play a decisive role in allowing businesses to connect with the remote workforce and conduct their business procedures. On the other hand, the changing needs of the end-users are prompting market players to introduce innovative solutions.

For instance, in November 2021, Morressier, a virtual and hybrid conference provider, launched enhanced virtual conference and networking solutions designed to enhance customer experience. The company is looking forward to building out its network and community capabilities to help learners worldwide make essential connections and engage with conference content. The company’s pricing model is also being updated to increase accessibility to a broader range of conference budgets. Software as a Service (SaaS) and UCaaS delivery models gradually emerged as mainstream delivery models. Small- and medium-sized Businesses (SMBs) prefer SaaS and UCaaS-based solutions owing to the flexibility these solutions can offer.

On the other hand, incumbents of the BFSI, hospitality, healthcare, and education industries typically adopt digitally simulated platforms. Several other businesses also use simulated channels to engage with customers and advertise their products, especially during product debuts. As such, market players are strongly emphasizing introducing innovative solutions and services to cater to the changing requirements while augmenting profitability. The efforts being pursued by the market players are eventually leading to the development of a connectivity network that can potentially surpass all geographical boundaries and reach the masses.

However, all sorts of online activities, including those associated with the virtual world, are always prone to cyberattacks. While information convergence remains vital for rolling out intercontinental connectivity services and subsequently creating new growth opportunities, service providers are equally concerned about data security and privacy protection. Virtual event management platforms are often integrated with various communication and collaboration solutions to facilitate invoicing, group work management, mobile event management, client administration, and email marketing, among other features, potentially leading to security issues.

Event Type Insights

The external event type segment accounted for the largest revenue share of more than 41.0% in 2022 and is likely to dominate the market over the forecast period. The growth of the segment can be attributed to the growing adoption of virtual event tools by businesses to communicate with external entities. Many organizations are collaborating with technology companies to leverage the advances in technology and provide high-end services to their customers. The widespread adoption of digitally simulated tools by organizations to conduct or attend tradeshows, product launch events, press releases, client conferences, and other communication events is expected to propel the growth of the segment.

The extended event segment is anticipated to grow at the highest CAGR of around 20.0% from 2023 to 2030. The cumulative usage of virtual platforms that allow remote audiences to effectively participate in an event or gathering convened at some other geographical location is expected to drive the growth of the segment. Internal events or the events convened within an organization are also being organized virtually, as part of the WFH policy being adopted by various organizations due to the pandemic. Many leading market players have developed various platforms to help organizations virtualize their regular communications for easier departmental functioning and workflow management.

Service Insights

The communication segment accounted for the largest market share of nearly 35.0% in 2022 due to a significant increase in the number of digitally simulated gatherings being convened. Communication solutions and tools are being used for events, from smaller meetings to larger conferences. The growing use of Internet platforms for business discussions, announcements, meetings, and declarations has been driving the segment growth. The recruitment segment also gained significant traction as employers aggressively utilized virtual event solutions to conduct interviews of candidates remotely.

Online recruitment processes typically help ensure convenience and flexibility while saving time and resources for both candidates and employers. The training segment is projected to grow at the highest CAGR of about 20.0% from 2023 to 2030, in line with employers' vital emphasis on conducting in-house training sessions online. Conducting training sessions online allows employers to nurture in-house talent and employees to learn & develop different skill sets regardless of their location. The COVID-19 pandemic notably increased the adoption of virtual platforms for conducting employee training sessions.

Establishment Size Insights

The large enterprise segment accounted for a significant market share of around 49.0% in 2022 as large organizations took the lead in adopting digital platforms. Large corporations are adopting virtual event management platforms as part of the global strategy they are pursuing while negotiating with employees, clients, and other stakeholders spread across different geographies. Virtual communication and collaborative platforms also remain critical for large corporations to maintain a smooth workflow across multiple geographical locations. Virtual platforms have allowed large corporations to continue working efficiently despite the pandemic and the ensuing restrictions on the movement of people imposed by various governments.

For instance, OnePlus Technology Co., Ltd., a consumer electronics manufacturer based in China, convened a virtual product launch in January 2022 to launch the company’s OnePlus 9RT smartphone. The SMBs segment is expected to grow at the highest CAGR of over 20.0% from 2023 to 2030. The growth of the segment can be attributed to the lockdowns and restrictions on the movement of people that compelled all sorts of enterprises, including, SMBs across all geographies to allow their resources to work remotely. Effective communication and preparation are paramount for bringing out remarkable results, irrespective of whether an organization is a global conglomerate or a smaller firm.

End-user Insights

The enterprises segment accounted for the largest market share of over 55.0% in 2022 and is projected to continue dominating the market over the forecast period. The growth of the segment can be attributed to the growing adoption of digitally simulated platforms by both private and public organizations. Businesses are using online platforms to promote their products, collaborate with their clients, and for various other purposes. The use of Internet communication channels in the healthcare industry has significantly increased. Healthcare professionals are widely using virtual events to interact with allied professionals and share their knowledge and experiences in the wake of the pandemic.

Online meetings and webinars being convened by the incumbents of the healthcare industry have also gained significant traction in the wake of the pandemic. Advances in VR and AR also stimulate the demand for virtual events as medical institutions use VR and AR technologies to stream 3D videos during seminars and conferences. The educational institutes segment covers individuals, informal groups of students, and collaborative groups sharing common interests. The segment is anticipated to grow at the highest CAGR of 20.0% from 2023 to 2030. The segment growth can be attributed to the widespread adoption of virtual platforms for academic purposes.

The strong emphasis students and professionals are putting on taking online courses to develop their skills is expected to drive the demand for digitally simulated platforms. The growing adoption of virtual event tools and solutions for training purposes is prompting market players to introduce dedicated training courses on digitally simulated platforms. For instance, Cisco Systems, Inc.’s Cisco Networking Academy offers a variety of courses focused on information automation, cybersecurity, programming, information technology, operating systems, and the Internet of Things (IoT).

Application Insights

The exhibitions/trade shows segment accounted for the largest market share of over 31.0% in 2022 and is expected to continue dominating the virtual events industry over the forecast period. The growth of the segment can be attributed to the growing need for businesses to exhibit or demonstrate their products, evaluate the competition, market their products and services, and keep track of the latest trends and prospects within the industry. Using digital spaces can potentially allow exhibitors to save money on travel, promotional items, accommodation, and other expenses associated with convening trade shows and exhibitions. On the other hand, the quality leads and guests these events attract also help enterprises network and improve engagement.

The other segment includes events, such as concerts, keynotes, webinars, meetups, and job fairs, organized virtually. The segment is expected to grow at the highest CAGR of nearly 21.0% from 2023 to 2030. The summits segment also accounted for a significant share in 2022 and is expected to continue playing a decisive role in driving the growth of the market. Conferences facilitate formal discussions and allow attendees to exchange ideas or share issues relating to any particular topic with other participants. The conferences segment is poised for significant growth as convening conferences virtually can lead to tremendous benefits, such as reduced costs, global reach, easy data collection and measurement of results, and quick scalability and control. Marketing teams are increasingly reallocating marketing expenditure to virtual events as a result of the cancellations and postponements of several in-person events following the outbreak of the pandemic.

Industry Vertical Insights

The Information Technology (IT) segment accounted for a revenue share of more than 20.0% across the virtual events market in 2022. This can be credited to the growing significance of virtual events in this domain as they help increase the geographical reach and allow professionals to participate and share knowledge from anywhere in the world. Moreover, they offer greater flexibility in terms of scheduling as attendees can access sessions and content at their convenience, accommodating different time zones. In addition, the increasing adoption of virtual events to facilitate continuous learning and skill development through webinars, workshops, and technical sessions is enhancing the market outlook further.

The BFSI segment is estimated to grow at the highest CAGR of nearly 21.0% from 2023 to 2030. Internal communication would be vital for the incumbents of the banking and financial industry verticals if they were to incorporate the latest advances and ease client interaction. Several leading companies are developing virtual platform tools for the BFSI sector to secure transactions and provide convenient banking services. For instance, in November 2021, Indian Bank launched a video KYC facility that allows users to open an account from anywhere using a video-based customer identification process technology that was implemented over the bank’s digital platforms.

Use-Case Insights

The large-scale events segment accounted for the largest revenue share of over 72.0% in 2022. Several businesses are increasingly using online platforms to plan and host massive marketing events, including certain industry events and new product introductions, to reach a broad audience at a lower cost. Solutions based on UCaaS, and SaaS are aggressively being adopted by the incumbents of manufacturing, healthcare, IT & telecommunications, and media & entertainment, among other industries and industry verticals for hosting large-scale virtual events. For instance, Telekom Serbia employed solutions from Avaya LLC to deliver integrated experiences, transform customer service levels, and create new services as part of its transformation initiatives to foray into new markets.

Global Virtual Events market share and size, 2022

The everyday events segment is expe cted to witness a CAGR of nearly 20.0% from 2023 to 2030. Virtual platforms are being used for regular events, including recruitment, discussions, meetings, informal sessions, and target/sales meetings. The rising demand for virtual platforms from the education industry to conduct daily learning and training programs is expected to drive the growth of the segment. For instance, prominent global school OneSchool Global has employed virtual learning solutions by Zoom Video Communications, Inc. to provide a quality learning environment and drive effective engagement across its 130 campuses spread across 20 countries. The increased application of virtual platforms across various industries, including education, media & entertainment, healthcare, aerospace, logistics, automation, and manufacturing is driving segmental growth.

Regional Insights

North America accounted for the largest share of over 42.0% of the overall revenue in 2022 and is anticipated to continue the trend over the forecast period. North America is home to developed economies, such as the U.S. and Canada, which boast an advanced networking infrastructure. North America is widely recognized as an early adopter of the latest technologies and hence a business hub. A rapid increase in the adoption of digitally simulated platforms, primarily in the healthcare industry, is expected to drive the growth of the market in Canada over the forecast period.

Virtual Events Market Trends, by Region, 2023 - 2030

Latin America is expected to record a CAGR of over 21.0% from 2023 to 2030. The significant growth can be attributed to the rising consumer inclination to deploy digital communication platforms in the region. Increasing adoption of modern technologies and the continued rollout of high-speed 5G networks are expected to fuel the growth of the regional market. In addition, the rising number of small- and medium-sized businesses, continued adoption of the latest technologies, and growing disposable income levels in the region are contributing to the market growth.

Key Companies & Market Share Insights

Companies operating in the market are pursuing mergers & acquisitions, forming strategic alliances, and launching new products to strengthen their foothold and thrive in an increasingly competitive business environment. They are working toward the development of UCaaS-based solutions to automate their processes. The consumption of AI-enabled virtual event solutions has also been rising with the actively changing customer preferences. Companies are keen on integrating augmented reality and virtual reality into their virtual simulated platforms to increase audience participation in online events. For instance, in April 2023, Zoom announced a new event management solution, which helps users to deliver flexibility and expand the features of single-session virtual events. Some of the prominent players in the global virtual events market are:

  • 6Connex


  • Avaya LLC

  • ALE International

  • NTT Limited

  • Cisco Systems Inc.

  • Cvent Inc.

  • EventX Limited

  • George P.Johnson

  • GES

  • Kestone

  • Martiz Holdings Inc.

  • Microsoft Corporation

  • Pathable

  • uBivent GmbH

  • Veritas Events

  • vFairs

  • Zoom Communications Inc.

Virtual Events Market Report Scope

Report Attribute


Market size value in 2023

USD 78.53 billion

Revenue forecast in 2030

USD 262.52 billion

Growth rate

CAGR of 18.8% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

October 2023

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Event type, service, establishment size, end-user, application, industry vertical, use-case, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; UK; Germany; France; Italy; China; India; Japan; South Korea; Brazil; Mexico; UAE; Saudi Arabia; South Africa

Key companies profiled

6Connex; ALIVE; Avaya LLC; ALE International, NTT Ltd.; Cisco Systems Inc.; Cvent Inc.; EventX Ltd.; George P.Johnson; GES; Kestone; Martiz Holdings Inc.; Microsoft Corp.; Pathable; uBivent GmbH; Veritas Events; vFairs; Zoom Communications Inc.

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Global Virtual Events Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the virtual events market report based on event type, service, establishment size, end-user, application, industry vertical, use case, and region:

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Internal Event

    • External Event

    • Extended Event

  • Service Outlook (Revenue, USD Million, 2018 - 2030)

    • Communication

    • Recruitment

    • Sales & Marketing

    • Training

  • Establishment Size Outlook (Revenue, USD Million, 2018 - 2030)

    • SMBs

    • Large Institutions

  • End-Use Outlook (Revenue, USD Million, 2018 - 2030)

    • Educational Institution

    • Enterprises

    • Organizations

    • Others

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Conferences

    • Exhibitions/Trade Shows

    • Summits

    • Others

  • Industry Vertical Outlook (Revenue, USD Million, 2018 - 2030)

    • BFSI

    • Consumer Electronics

    • Healthcare

    • Information Technology

    • Manufacturing

    • Media & Entertainment

    • Telecom

    • Others

  • Use-Case Outlook (Revenue, USD Million, 2018 - 2030)

    • Everyday events

    • Large-scale events

  • Regional Scope (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

      • Saudi Arabia

      • UAE

      • South Africa

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