Virtual Events Market Size & Outlook, 2025-2033

Virtual Events Market Size

The global virtual events market size was valued at USD 195.73 billion in 2024 and is projected to reach from USD 237.03 billion in 2025 to USD 1096.35 billion by 2033 at a CAGR of 21.1% during the forecast period (2025-2033).

Virtual events are online gatherings or conferences that enable participants to connect, interact, and engage through digital platforms instead of physical locations. These events can range from webinars, virtual conferences, trade shows, to social events, providing real-time interaction and networking opportunities through video, chat, and virtual exhibition spaces.

The virtual events market is growing due to the increasing adoption of digital technologies and the need for remote engagement, particularly in the wake of the COVID-19 pandemic. Businesses are realizing the cost-effectiveness, accessibility, and global reach of virtual events, which have made them an attractive option for hosting conferences, product launches, and marketing activities. Furthermore, advancements in virtual event platforms and interactive tools are enhancing user experiences, contributing to the market's expansion.

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Market Growth Factors

Growing Adoption of Digital Media Marketing Platform Drives the Market Growth

Increasing number of events in sports, gaming, and entertainment sectors over the past decade and burgoening use of technology to streamline the events from start-to-end is a prime factor driving the market growth. Marketing channels, vendors, and firms are increasingly looking for collaborations with event organizers to drive businesses. Apart from this, changing consumer lifestyle has compelled the companies and consortiums to look for innovative alternatives in order to organize theme-based meetings that can be accessed from anywhere at anytime

Rising Popularity of Online Streaming Drives the Market Growth

There has been a massive increase in the global live streaming market since the pandemic surfaced. It has proved to be a very effective way to replace in-person presentations and sessions. Netflix, Hulu, Amazon, Apple TV, Roku, and Boxee are some of the prominent players in the online entertainment hub and many companies are contecting such platforms to deliver their content virtually.

Adobe decided to go for pre-recorded routing for their recent Summit. However, the session lacked in real-time management, the ability to be edited or enhanced greatly improved certain speakers' performances. The non-real-time approach eliminated several common challenges of virtual events, such as planning around different time zones and connectivity issues. The video and audio communication type generated approximately 89% of consumer internet data traffic in 2018 and will continue to do the same with the rapidly emerging concept of virtualization.

Technological Advancements and Hybrid Event Innovations to Offer Lucrative Market Growth

Virtualization of big events that gather hundreds and thousands of people is anticipated to unlock new door of opportunities for international business in the post-pandemic world. Creating a virtual event is less expensive as recorded sessions can be reused in the future, which is why the global companies are heavily investing in the approach. For instance, Webit transitioned from one of the world’s largest tech and innovation in-person festivals into a global leadership network hosting three virtual summits per week.

Increasing demand for personalized video due to changing consumer preference provides an impetus to the market growth. Recently, Adobe introduced its Sensei AI engine that has the ability to create high-end experiences based on people's behavior on the platform. Content delivery in a virtual format is expected to trend among modern consumers in the near future. Digital summits and virtual reality will take over immersive environments by allowing attendees to experience familiar aspects of event spaces through the virtual format. Tech giants such as Facebook and Microsoft have canceled various live events of 2020 and will continue delivering event experiences to attendees and stakeholders from the comfort of home.

Regional Analysis

North America holds the largest share in the virtual events market on account of a seismic shift towards online communication tools and platforms for sports events, educational seminars, marathons, film festivals, and others. The region is bolstered by the presence of key companies such as Microsoft, Google, and Facebook, and umpteen emerging players. As per the Billboard, over 800 music festivals are hosted in the U.S. alone, attracting over a million people every year. Growing importance of business meetings in the corporate and government sector is expected to fuel the event planning market growth during the forecast period. The U.S. Labor Department estimates that the number of meeting planner jobs will increase by 16% over the next decade.

The COVID-19 pandemic has highly disrupted the event management market due to the postponement and cancellation of sports, entertainment, and educational events. Global entertainment giant Cirque du Soleil canceled its 44 shows around the world until January 2021. ESPN reported that the U.S. sports can witness huge losses in revenue if NFL and college gridiron games are canceled due to the shutdown. In the U.S., a loss of more than USD 12 billion is estimated to be registered from sports and entertainment industries in 2020

Type Analysis

Unified communications & collaboration (uc&c) and video conferencing segment to dominate the market. Congregation of large and small business enterprises to the virtual event platforms in order to address and deliver content to the audience bolsters the market growth. Postponement and cancellation of various trade shows and conferences due to the coronavirus outbreak has compelled officials to reallocate funds for organizing online meetings and connect to their audiences in a safe environment.

Companies such as Oracle, Demandbase Inc., Adobe, Outreach.IO, and Inverta are adopting virtual platforms to launch new products or conduct meetings with clients. People can watch live demos and interact with product experts from their remote locations. Video conferencing is expected to witness a significant demand due to the lockdown imposed by the government across the globe.   

Rapid globalization, growing need to enhance competitive responsiveness among businesses, and rising internet penetration drive the segment growth. Unified communications & collaboration (UC&C) is expected to emerge as the most prevalent segment in the forthcoming years on account of the growing demand for software service (SaaS) models from the small and medium-sized businesses (SMBs). Growth in promotional events such as news releases, digital magazine launch, and summits is expected to drive the adoption of digital platforms by companies for content delivery and information exchange.

End-User Analysis

Rising demand for a communication platform from the education, finance and banking, healthcare, hospitality, and other industry verticals drives the market growth. The corporate sector is expected to be the largest adopter of virtual events in the upcoming years, followed by the healthcare sector.

Virtual events such as online meetings, video conferencing, video calls, instant messaging, and online chats that allow information sharing in real-time is the need of the hour. Rise in telemedicine and online doctor consultations add fuel to market growth. Increasing pressure on hospitals due to the pandemic has compelled the doctors and healthcare officials to conduct telemedicine for other patients around the world. Various agencies and organizations are organizing workout and meditation sessions on virtual platforms that attendees can tune into.

List of key players in Virtual Events Market

1. Adobe Systems
2. Avaya
3. Cisco Systems
4. Citrix Systems
5. IBM
6. Microsoft
7. Mitel Networks
8. Alcatel-Lucent
9. Atlassian
10. BroadSoft
11. COREX
12. Huawei
13. Toshiba
14. Ubivent
15. Zoom Video Communications

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Recent Developments

• In April 2020, Hubilo, an India-based event management company, launched its new Virtual Event Platform to host events online, making it easy for event organisers to switch from physical to virtual platforms. Attendees can see a list of all event speakers and sessions, and register to their event itinerary. Users can also join a live session by just one click and interact with speakers during the live session. Hubilo’s, cloud-based, end-to-end event management platform is now used by Niti Aayog, Data Security Council of India (DSCI), Bill and Melinda Gates Foundation, Coca- Cola, and Mercedes, among others.
• In March 2020, Microsoft held its annual Microsoft Build event for developers digitally. Build is one of Microsoft’s biggest news events primarily focused on developers. Through Build, Microsoft allows its audience to preview the latest changes to Windows, Office, and other software and services. The company is also focusing on its dual-screen plans at Build this year, for both Android and Windows 10X.