Virtual Events Are The New Reality

Event management was a flourishing industry until the pandemic knocked us out of balance. When the pandemic took hold, event management companies facing lock downs around the globe were hit hard. Rising inclination toward virtual events globally and the emergence of live streaming are factors driving the demand for virtual event software. Spurred by lock downs organizations have resorted to conducting virtual events. It has also been noticed that 90% of companies still consider hosting virtual events despite permitted live events.

Traditional events involve colossal expenditure and long travels for hosts and attendees. Therefore, Technological advancements, such as software-as-a-service-based virtual events, and online conferences, are comes into the picture as easy, fast, and cost-efficient alternatives.

The cloud-based tool allows end-users to provide an interactive experience while enhancing the overall sales experience through podcasting, instant messaging, and virtual product experience. Also, another solution that positively impacts the growth of virtual events is connected through live streaming. Live streaming events enable more participants to access content resources to better align with context. Thus, the increasing adoption of virtual event platforms by nearly 80% of event organizers significantly drives global virtual event platform market growth.

Digitally simulated events can potentially cover various events, including sales meetings, job fairs, summits, audio/video conferences, exhibitions, and trade shows. The Work-From-Home (WFH) policy that was adopted by several companies, in response to the lock downs and restrictions on the movement of people imposed by various governments across the world, as part of the efforts to arrest the spread of the coronavirus, has emerged as one of the major factors driving the market. At this juncture, virtual events play a decisive role in allowing businesses to connect with the remote workforce and conduct their business procedure.

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