Now, when we say “event industry,” we’re talking about those fantastic shindigs where people gather to celebrate, learn, dance, network, or even just to see their favorite band tear up the stage. Events are like life’s little (or not-so-little) parties that pop up at specific times and places. πποΈ
But why the “not-so-little” tag? A research dive study projected the global event industry’s revenue to soar to a staggering $1,457.2 million by 2028. What’s even more remarkable is the evaluation of its Compound Annual Growth Rate (CAGR) over the horizon of 2021 to 2028, indicating an impressive ascent of 23.1%.
We’re about to reveal the facts and stats of 2024 based on various factors, revealing the secrets that make every event tick.
Event Industry Data Based on Various Factors
Data based on Various Factors is your backstage pass to the inner workings of events. Think of it as a box of insights where we explore the numbers behind event success. Whether it’s tech, the quirks of attendee preferences, or the strategies that light up the room, we’ve got the facts and stats to back it all up.
Let’s dive in and improve events, one data point at a time!
1. Event Industry Statistics Related to In-person Events
“The only time to look back in life is when taking a shot and posting about it.” – Unknown (but probably a great partygoer)
- The U.S. events market surged from $94.8 billion in 2020 to an astounding $538.6 billion by 2030, with a remarkable 13.0% CAGR. ππ°
- 71% of event marketers plan to continue investing in virtual events, but 41% of marketers believe that in-person events are the most crucial channel.
2. Event Industry Trends Related to Virtual Events
- The global Virtual Events Industry market is projected to achieve a remarkable 14% CAGR from 2023 to 2032, with a valuation of USD 315.5 billion in 2023 and an anticipated USD 1035.5 billion by 2032.
- The global virtual events market is expected to grow at a CAGR of 23.2% from 2020 to 2027.
3. Event Industry Statistics Related to Hybrid Events
According to Markletic:
- 86% of B2B organizations achieve a positive ROI for their hybrid events seven months after the event.
- 34% of event organizers plan to invest more in hybrid events in the coming years.
4. Event Industry Trends 2023 Related to B2B Events
- In the post-pandemic landscape, B2B events find success by prioritizing the unique needs of their audiences. Tailoring the event experience to meet these requirements is paramount for thriving in the new normal.
- According to marketing charts:
This year, B2B marketers are facing higher demand generation budgets and increased revenue expectations.
- Surprisingly, social media (44%) is not far behind and is ahead of other options like online ads and retargeting.
- Forrester’s insights reveal that, over the next year, a significant two-thirds majority of B2B businesses are placing environmental sustainability at the forefront of their priorities.
- A Demand Gen Report study reveals that email (59%), search (56%), and websites (51%) are the most effective channels for driving early-stage engagement and lead generation.
5. Event Industry Statistics Related to Marketing Budget
- Around 56% use the number of qualified sales leads, and 48% track brand awareness. Social press mentions are used in 41% of cases, while the number of sales generated was a measure of success for 40% of businesses.
- A Disappointing 32% of Marketers Struggle with Measuring Return on Objectives (ROO).
6. Event Industry Trends Related to Event Management Software
According to Grandviewresearch
- The global event management software market was valued at USD 6.97 billion in 2022. It is projected to experience a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.
- Event management software benefits from the proliferation of technology and is known for its robust data-handling capabilities.
According to nunify
- AI, powered by advanced chatbots like ChatGPT, Bing AI, and Google Bard, is transforming event management. These AI assistants can automate tasks like registration and customer service, offering attendees a more personalized and efficient experience.
- Post-pandemic, the adoption of contactless technology, including RFID, NFC, and QR codes, has skyrocketed. These technologies streamline event verification, tracking, and check-in processes, enhancing health safety measures.
7. Stats and Facts About Event Apps
- The global market for mobile event apps is expected to reach 2.8 billion USD by 2030, up from 1.3 billion USD in 2021.
- Cloud-based mobile event apps are projected to have the largest market share and be the most popular choice in the coming years.
8 Data About Event Technology Adoption
- Nearly 25% of virtual event technology providers don’t offer analytics to prove sponsor ROI. This indicates a need for improvement in the current event technology landscape.
- The State of Event Technology Adoption report highlights the emergence of a select group of meeting planners actively organizing and formalizing their processes and strategies.
Over the coming three years, this cohort and other industry professionals are expected to play a significant role in expediting event technology adoption. This collective effort is poised to propel the meetings industry into its next phase of growth and development.
- This statistic highlights that half of the event professionals increase their tech investment.
9. Event Industry Statistics Related to Event Sponsorship
- Event industry statistics show a third of organizations dedicate 21% or more of their event budgets for sponsoring events.
- The average value of sponsorship across all industries is $2,137, but it can range from $1,000 to $10,000, depending on the industry and the event.
10. Event ROI Statistics
- 75% of companies with an event budget between $50-$100 million expect more than 5:1 of an event ROI. They expect between 3:1 and 5:1 of an event ROI from their event technology investments.
- Only 34% of marketers use new referrals, quality of leads, deal closure, value of sales, and cross-sell/upsell opportunities to measure event ROI.
11. Event Industry Trends Related to Attendee Engagement
- Despite rising costs, there is no indication that this trend will reverse. In fact, the CPE is expected to rise by another 7% in 2023.
- According to Rainfocus, the attendee data collected from events is becoming more valuable. This data can be used to understand attendee preferences, build better relationships, and enhance sales and marketing strategies.
12. Event Industry Statistics by Benefits of Events
- The rise of virtual and hybrid events presents new opportunities for marketers. The event management industry is expected to witness a 23% annual growth rate, reaching a market value of $404 billion by 2027.
13. Event Industry Statistics by Event-Goers
- The majority of attendees (73%) are found to be harder to attract, while 70% of events are now hybrid or offer the option to attend in person or virtually.
- Post-event, attendees are interested in hearing about the event’s success, with 23% stating they would like to know the number of attendees, 21% interested in the number of sessions, and 20% interested in the total number of interactions.
14. Destination and Venue Selection Stats in the Event Industry
- 35% of event organizers find locating the right venue for hybrid events difficult.
15. Event Industry Statistics Related to Jobs and Careers
- The U.S. event industry employs at least one million people. This includes at least 77,000 planners for trade shows and conferences and many more marketers and freelancers.
16. Event Production Statistics You Need to Know for 2024
- 42% of event and entertainment production leaders choose to invest in their people. Every event experience is as good as the people who make it happen.
- The use of technology in event production is on the rise, with 63% of event professionals planning to invest in new tech in 2023.
Navigate the Dynamic Event Landscape with AllEvents
The world of events is alive with data, and it’s the key to understanding trends and making each gathering unforgettable. Stay tuned for more exciting insights and trends in the ever-evolving event industry. ππ
Navigate the dynamic world of events confidently by listing your events on AllEvents! Make your event truly matter and create a lasting impression! π
