With two decades into the 21st century, technology is becoming a game-changer in the events industry. It’s making things easier for event planners and making events more fun for attendees too.
Businesses are increasingly seeing the benefits of using virtual events in their marketing and sales plans, going far beyond the original results presentations. According to Grand View Research, the global virtual events market is expected to experience significant growth, with a compound annual growth rate of 18.8% from 2023 to 2030, reaching an estimated value of $262.52 billion.
Virtual events are becoming popular, giving businesses new ways to improve relationships with customers and increase sales. The virtual event industry is constantly evolving. To help you stay updated, we’ve compiled a list of the trends that have gained attention in virtual events 2024.
Top Virtual Event Trends in 2024
Since 2020, the event industry has quickly started adopting virtual events. Originally an alternative during the pandemic, virtual events have evolved into an essential format for event professionals going forward. According to a report from Bizzabo, Over 80% of businesses are able to extend their audience reach with virtual events. Not just that, in a recent survey with 1,800 marketers across 13 countries conducted by LinkedIn, revealed that 85% of businesses had organized virtual events in the past 12 months.
To leverage virtual events effectively, here are some key trends to watch out for in 2024:
1. Artificial Intelligence
AI was a major topic in the industry last year, and for good reason. The emergence of generative AI tools like ChatGPT has given event planners and marketers fresh ways to automate tasks that take up a lot of time, allowing them to concentrate on more creative and strategic activities.
In 2024, there will be increased exploration of AI throughout the industry. ChatGPT and other generative AI tools will advance in their ability to assist in creating event and campaign content. Chatbots will also be utilized for customer service and answering attendee queries, cutting down on wait times and enhancing customer satisfaction.
We have compiled the following chatbot statistics:
- According to Salesforce, 23% of customer service companies currently use AI.
- IBM reports that implementing chatbots can cut customer service costs by up to 30%.
- UserLike’s research shows that 68% of users appreciate the rapid response times of chatbots.
Integrating AI and automation into events can make the attendee experience better, increase efficiency, and give valuable insights through data and analytics. It’s a crucial aspect of the newest event technology trends of 2024, which also cover virtual events, hybrid events, event management software, event registration, live streaming, event marketing, event analytics, event data management, and virtual event technology.
2. Sustainability
Focusing on sustainable event practices brings several benefits. The Events Industry Council conducted a study revealing that adopting a sustainable event strategy can lead to cost reductions of 20% to 30% and waste reduction of 60% to 80%.
Given that the events industry contributes approximately 10% of global greenhouse gas emissions annually, prioritizing sustainability is essential.
Virtual events present a chance to lower the industry’s carbon footprint, and partnering with eco-conscious platforms like ibentos is crucial. Not all platforms prioritize carbon neutrality, but ibentos emphasizes sustainability through eco-friendly technologies such as virtual and metaverse technology.
The future of virtual events will emphasize sustainability.
3. Personalization
In 2024, Google will fully restrict the use of third-party cookies, pushing businesses to rely solely on first-party data (the data shared directly by their audience) for crafting personalized experiences. This shift towards personalization is evident in virtual events as well.
For example, attendees could receive customized session suggestions or networking options tailored to their interests and preferences. Event organizers leverage data to curate personalized experiences, delivering an interactive event that caters to each attendee’s unique interests and preferences.
The Metaverse stands out as a promising avenue, offering immersive experiences that revolutionize how attendees engage with content and event setups. In 2024, there will be a notable shift towards creating captivating content and breakout sessions within the Metaverse, enhancing networking opportunities that go beyond physical limitations.
The Metaverse presents endless possibilities for event planners and marketers, providing a vibrant and immersive platform to reimagine engagement and create immersive virtual event experiences for attendees.
4. Advanced virtual event platforms
These days, event planners use advanced virtual event platforms that create immersive experiences. These platforms are made just for virtual and hybrid events, making them really special.
Picture entering a 3D world where you can experience things just like in real life. These platforms use virtual reality (VR) to make it feel like you’re actually there. You can also watch live streams and use AI-enabled features to talk with others at the event.
These advanced platforms elevate virtual events to a whole new level. They make the experience incredibly immersive and captivating, giving attendees a sense of being part of something amazing.
How to make your virtual event more trendy
Looking for tips to ensure your virtual event is a success?
One common mistake companies make in event planning is not using the right technology. Trying to create a memorable experience for your audience without the proper technology won’t work well.
The solution is simple: adopt virtual event technology specifically designed to make your virtual event as amazing as it should be.
There couldn’t be a better time to invest in that than now.
What is the future of virtual events
The future of virtual events looks promising. It’s not just a trend but also a practical way to expand your reach, especially with the rise of hybrid socializing.
Your top priority during a virtual event should be providing an outstanding experience for your audience.
With so many companies hosting virtual events, the key is not to give a bad experience. This can hurt your brand and make people not want to come to your future events.
To ensure your next virtual event is a success, you need a technology specifically created for that purpose.
That’s where ibentos’ virtual event technology shines.
Our technology is tailored to make your event stand out, offering features like immersive experiences, interactive tools, and seamless management to ensure a memorable and engaging experience for your attendees.
To ensure your next virtual event is a hit, leverage ibentos’ cutting-edge technology today!
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