Virtual events are digital gatherings where people connect through the internet. Users can host them on video conferencing platforms or specialized event software, which makes it easier for attendees to join without spending much – or any – money. The reach you get is tremendous since there are no location constraints. Anyone can drop in from anywhere.
However, keeping attendees engaged remains a big challenge sometimes. Leading video conferencing solutions offer polls, breakout rooms, and other tools to address this.
The market is trending upward, with consistent technological improvement supporting these functions. The virtual event platform market is expected to reach $30.6 billion in 2027, up from $12.4 billion in 2022.
Read the statistics below to understand more about the latest trends in virtual events and learn how to optimize them for your needs.
Top virtual events statistics
There’s been a lot of change in how businesses conduct trade shows and events. Planning now involves preparing a mix of in-person and online engagements since people still prefer face-to-face interactions.
Take a look at what’s trending in this space.
- 30% of trade shows combined in-person and virtual meetings in 2021.
- More than half of marketers like face-to-face events better than hybrid or online ones.
- 20 minutes marks the ideal length for a session as 68% of viewers manage to stay focused during that time.
49%
of marketers say that the people involved make or break their events.
Source: Event Smart
- To make events more fun and interactive, 59% of organizers use games.
- In 2024, events will be 59% in-person and 20% hybrid. This shows how fast the world of event planning and running is changing.
- 58% of marketers find it hard to keep their audience's attention.
- Some companies offer prizes (30%) and games (59%) to engage attendees.
- 91% of big event organizers make money through sponsored sessions.
Why are virtual events popular?
People prefer to join events virtually because they can connect from anywhere. Due to this, webinars, live streaming, and Q&A sessions have grown popular. Let’s explore some stats that show the increasing interest in virtual events.
- 99% of companies think webinars are key to their event strategy.
- Half of the people who attend online events prefer webinars.
- In 2021, 75% of marketers used live videos.
- In 2022, 40% of all events were online, even with fewer social distancing rules. People liked online events because they could join from anywhere.
72%
of professionals in the UK and Ireland wanted to keep doing online events in 2022.
Source: Forbes
- The future of events will include virtual, face-to-face, and hybrid types.
- LinkedIn's live streams went up by more than 400% in 2020, according to TrueList.
- Hybrid events have their issues. Many companies are interested, but find it hard to create satisfying functions.
- Nearly 40% of people at hybrid events felt left out.
People's perspective on virtual events
People prefer virtual events for their flexibility, but they also crave in-person events for more personal connections. Let these statistics show you the real picture of how people feel about virtual events.
- Global event marketers thought online events would grow 5% in 2022.
- In the US and Canada, 45% of B2B marketers thought live streaming was key for 2022 events. 38% prioritized mobile access to live events,and 37% sought better branding opportunities.
- 45.7% of marketers focus on getting leads from online events.
- 68% of B2B marketers think live events work best for getting leads.
- 80% of people join online events to learn something, with 72.5% saying learning is their main goal above everything else. Fewer than 10% are trying to network.
- 55% of marketers use online events to improve customer relationships, educate, and retain customers.
- The average online session is 54 minutes long, but most only watch for 37 minutes.
62%
of event organizers planned to keep including online attendees by doing hybrid events in 2022.
Source: Skift Meetings
- 58% of online sessions have fewer than 300 live viewers.
- 15% of workers do chores during Zoom meetings.
- 67% of planners have tech troubles. 71% find it tough to keep both online and in-person viewers engaged.
- An average online event has 12 sessions. Short sessions under 20 minutes are recommended for the most meaningful interactions.
- 78% of businesses use event apps to boost involvement and handle sign-ups.
- 63% of marketers say event apps will be important for future events.
- Apps help potential attendees stay up to date and learn more about events.
Virtual upward trending
Based on the statistics above, we can see how virtual events have successfully generated leads for marketers while helping many attendees learn something new. They have also been a place to connect and network to nurture key business relationships.
Some technical glitches and engagement challenges persist when managing virtual or hybrid events. However, businesses are developing innovative solutions to address them.
Overall, the virtual event space is moving up, and the market will likely reach its predicted value in the next four years.
Want to host a virtual event? Check out leading virtual event platforms you can use to deliver the value of in-person events with digital experiences.
