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. A lot of people may argue that audiences will not be as engaged in a digital event. However, it is estimated that 86% of the people who have attended virtual events report higher or equal levels of engagement compared to in-person events. (Source: Digital Information World)
3. 80% of people join virtual events for educational purposes. The next biggest reason for joining virtual events is networking. (Source: Markletic)
4. Asia Pacific is anticipated to emerge as the fastest-growing regional market, registering a CAGR of 25.8% from 2020 to 2027. (Source: Grand View Search)
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)
6. 80% attendees of virtual events said they are keen to attend live events in person within the next 12 months. (Source: The Drum)
7. 65% of B2B marketers are planning to reallocate some or most of their live event budgets to online events, such as webinars, virtual summits, tradeshows and more. (Source: Event Marketer)
8. 80% of corporate sponsors are interested in investing in virtual events and 72% would be interested in hybrid solutions that combines in-presence with digital events. (Source: Travel Daily News)
10. 84% of organizations which have run a virtual event in 2020 reported that they spend less money on virtual events than in-person events. (Source: Wild Apricot)
11. 81.8% of virtual event organizers use interactive features like event polling and Q&A sessions to improve interaction during a virtual event. (Source: Markletic)
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)
13. 70% of business owners and event managers feel that hybrid meetings will be important to the future of meetings. (Source: Biz Bash)
14. 52.6% of event professionals are more likely to be invested more in event tech than the previous year. (Source: Event MB)
15. 50% all attendees at virtual events engage using social media, compared to just 16% at in-person events. (Source: Business Wire)
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. As per a study, 80% of study’s participants found personalized content more effective impersonalized content. This study saw participation from B2B organizations, with approximately half of the participants having marketing job titles. (Source: Demand Metric Study)
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)
19. 47% of event planners and organizers believed tailored break out session paths would be one of the biggest personalization trends for virtual events 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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