When the concept of virtual events first came up in 2009, nobody took it seriously, let alone consider it as a worthy alternative to in-person events. But slowly, as digital technologies advanced, virtual events have now caught the full attention of event organizers and business owners alike. Apart from the obvious benefits like cost-saving, virtual events provide a unique opportunity for business owners to host events that attract global audiences, generate new revenue streams and create higher brand awareness. If you have heard about virtual events, but you’re not sure if you want to host one, then the following virtual event statistics will help you understand why now is the best time to host online events.
1. A report suggests that the global virtual events market size is currently valued at $ 77.98 billion and is forecasted to grow at a compound annual growth rate of 23.2% from now to 2027. This means the virtual event platform market can be expected to be valued at $774 Billion by 2030. (Source: Grand View Search)
2. Customer retention and engagement are the top priority (70%) for event managers. However, these two are also the most effort-intensive and challenging parts of hosting an event along with driving attendance (48%). (Source: Sweap)
5. According to a survey by Markletic, 87% of marketers think the opportunities generated by virtual events as a success factor, while 67% of businesses use virtual events complementary to in-person events. (Source: Markletic)
10. Among a survey of event marketers on their most preferred channel for promotion, social media (77.90%) tops the chart, followed by emails (72.35%). One new entrant in the list is community marketing (46.30%). (Source: Sweap)
12. 54% of event planners are spending more of their time and attention on the attendee experience rather than logistics. Another interesting virtual event statistics shows that 33% of event planners would use additional budgets to invest in enhancing the attendee experience. (Source: AMEX)
14. Live streaming (47.35%) and event management software (46.8%) are two of the most popular event tech solutions leveraged by event organizers. (Source: Sweap)
16. According to a study conducted by Event Marketing Institute and Mosaic, 89% of consumers who participated in the study felt that live events are the most effective medium to increase product understanding. (Source: Event Marketing Institute)
17. The top priority for remote attendees is learning – learning about the brands, the products/services they offer (36%), and general education (36%). The top features attendees are most likely to use are in-session chat (91%), live Q&A (90%), and profile-maker (85%). (Source: Kaltura)
18. 74% of event professionals surveyed agreed data drives their decision making, and the study concluded that using data to make event decisions will come to the forefront in 2020. (Source: Endless Events)
20. A study that focuses on the present scenario (2017-2021) of the global virtual events market reported that UC&C and video conferencing is the most popular application segment in the global virtual events market, responsible for generating over 85% of the total revenue. (Source: Business Wire)
That was an end to our 20 amazing virtual event statistics. We will be updating this list as and when we discover new interesting statistics and insights from the world of virtual events. We hope this blog helped you get a better understanding of virtual events, its impact and its future.
Meanwhile, if you are still not sure about hosting a virtual event, then read our Ultimate Guide: An Introduction To Virtual Events
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