Are virtual events here to stay or are they a passing phenomenon?
In a time when physical proximity isn’t achievable, keeping most businesses alive and kicking has been an absolute task. Amongst the many that have been hit, the events space makes it to the top 5 on the list. But as change is the only constant in our lives, this industry was quick to adapt to the “new normal’.
So what is it’s “new normal”? Yes, you got that right – Virtual events.
Virtual events gained momentum due to the existence of robust technological frameworks and its multiple parameters that made communication through a virtual means not only attainable but also a success.
According to a U.S market analysis report, the global virtual events market size was valued at USD 77.98 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2027. Clearly, the rapid growth and acceptance of everything going digital has and will continue to boost virtual events and needless to say, the pandemic may have magnified the process.
But several people still remain curious, based on whether virtual events are just a passing phase or are they here to stay? Is it only because of the current times, people have chosen to survive the pandemic through virtual means of communication? Or have people gotten entirely accustomed to Zoom calls?
We for one believe that virtual events aren’t a passing phase and they’re definitely here to stay..
Let’s tell you why..
Virtual events provide a range of opportunities, whether for brands, students, or tech industry experts. Using video streaming platforms,you’re able to instantly connect people from around the globe, making your reach wider than ever before.
Nothing can take away an in-person event, where you can network and connect with experts on a one-on-one. But virtual conferences are an extremely effective way to engage with your target audience, by inviting speakers who may be unavailable for an in-person talk, and using the latest technologies to enhance the communication and collaboration process as a whole.
The advantages of virtual events don’t end at being immediate and accessible, they’re extremely budget friendly too. They help cut cost from all the possible miscellaneous expenses that make in-person events so exorbitantly priced.
Virtual events provide more flexibility for the attendees. Sessions can be spaced out and less tiresome. This means that participants could ultimately be getting even more out of the entire experience.
Thus, as virtual events assist organizations by expanding their sponsorships and amplifying their brands reach, we truly believe that even post the pandemic, when in-person events are back in motion, a progressive advancement such as virtual events are here to stay.