Is virtual event platforms changing the landscape of the ‘in-person’ event industry?
During the emergence of COVID-19 pandemic last year, majority of the in-person exhibition and activities came to a sudden halt. Virtual events at that point of time, were simply considered a temporary solution to keep all commercial businesses going.
From entertainments, sports competitions, industry expositions, conferences, ceremonials to prize award presentations including major brands were actively engaging virtual event platforms to maintain their industry exposure and extend their brandings into respective markets.
While vaccinations are well on its way in 2021, unpredictable COVID-19 outbreaks and findings of new variants in different part of the world have consistently interrupted the possibility of a quick come-back to in-person activities and events. In this meantime, virtual event platforms have been widely accepted as the best alternative solution to hosting expositions, conferences, award presentations, product launches, corporate activities and ceremonies etc.
Reported by Allied Market Research, the global events industry was valued over at $1,100 billion in 2019 and is expected to reach $1,500 billion by 2028 registering a CAGR of 11.2% from 2021 to 2028. The prompt switch to a virtual platform is deemed a necessity as an adaptation to this uncertain time so as to keep the huge event markets and gigantic revenue source flowing.
By leveraging the fast-growing power of online / virtual events, have technology suppliers and event managers indeed found a better way to successfully drive businesses and provide a great virtual event experience to customers who needed it urgently?
If you like to have a copy of a survey report which gathered the opinions and comments of the top 40 local event management companies and virtual event technologies providers about their exciting experience and engagement about virtual event platforms, click HERE!