Posted on December 8, 2023

Global Event Trends: Adapting to Shifting Industry Dynamics

The COVID-19 pandemic severely impacted the events industry. Many in-person events were canceled or postponed to prevent the virus from spreading, leading to significant financial losses for event organizers, venues, and associated industries.

The disruption also led to a reevaluation of traditional event formats. One reason is that concerns about health and safety led to increased demand for virtual and hybrid events. Thus, organizers began to rethink the design of events to prioritize safety, sustainability, and technology integration.

The industry quickly embraced virtual and hybrid event formats to facilitate remote participation and engagement. This accelerated the adoption of virtual platforms, live streaming, and engagement tools. Meanwhile, attendees became more accustomed to participating in online experiences.

However, three years of Zoom meetings and remote work gave people a deeper appreciation for in-person events and their role in their ability to learn, connect, and grow. This article will discuss the prevailing event technology and innovations and the event trends that organizers should watch out for.

Technological Innovations in the Events Industry

Seasoned organizers and graduates of MFA programs specializing in events management can benefit from staying abreast of event trends. This includes leveraging new technologies.

A 2023 event technology survey reveals that 68.9% of vendors saw increased demand this year. These include any tools that organizers can use to plan, execute, and measure an event, such as: 

• Live Streaming and Simulive: Event tech companies now provide advanced streaming services, allowing you to easily pivot between virtual and hybrid events. Live streaming lets you broadcast events online, while simulative allows you to schedule pre-recorded content broadcasts.
• Contactless Check-in: While in-person events are slowly returning, people will need time to feel comfortable attending large gatherings. You can do this by setting up contactless check-in kiosks wherein attendees can scan a QR code, eliminating the need to wait in a long line to register and attend the event.
• Wearable Technology: This refers to wristbands or badges that attendees can swipe to check in to an event, transact with an exhibitor, or exchange contact information. Conversely, organizers can use this for access control and crowd management.

Photo by: Stephan Sorkin | Source: Unsplash

• Augmented Reality (AR) and Virtual Reality (VR): These technologies are becoming increasingly accessible, allowing event organizers to provide unique and immersive experiences to attendees.
• Event Gamification: This is an excellent way to introduce friendly competition among attendees. It can be simple, such as letting participants visit a booth to complete a task and earn a raffle code. 
• Mobile Event Apps: Mobile apps have seen an increase in popularity due to technological advancements. It allows organizers to package speaker information, venue maps, and more in an application. You can also use apps for polling, sending in questions for a Q&A session, and event chat rooms.

7 Event Trends That Will Shape the Industry

The events industry is expected to record a compound annual growth rate (CAGR) of 12% from 2023 to 2032. This is equivalent to a valuation of $1,752.9 billion by 2023. Despite that, rising event trends show that the industry is at an inflection point.

Organizers must balance the increasing cost of event management while ensuring that their events provide value to attendees, sponsors, and other stakeholders. That is why they must watch the following event trends shaping the industry’s future.

Subsiding Concerns Over COVID-19

More than two years into the pandemic, concerns over COVID-19 have subsided. This is evident in the waning safety admissions criteria, such as COVID testing and vaccination compliance requirements.

Source: Skift Meetings “State of Business Events” (Nov. 2022)

The 2022 State of Business Events report from Skift revealed that most organizers (76.2%) also revised their risk assessment and mitigation plans regarding onsite health and safety. For instance, only 7.3% intend to enforce physical distancing, and 23.3% adopt mandatory mask-wearing policies during an event.

Effective Use of Time

Despite relaxed travel restrictions, current event trends show that people still need a compelling reason to leave the house and attend in-person events. This is due to rising fuel costs, inflation, and budget restraints. As such, organizers must reevaluate their events’ value proposition.

A 2022 TravelPerk Survey revealed that 79% of people are looking forward to networking and building relationships at in-person events. This is expected since the limited social interaction brought by the pandemic compels attendees to look for high-value connections.

They are also attending events to learn about industry-related solutions in the market. Instead of one-hour sessions, attendees prefer multi-day in-person events that foster research experience and learning opportunities.

Experience-First Events

Another way to encourage in-person attendance is to host experience-first events. One reason is that attendees are becoming intentional with how they spend their time. Hence, organizers will benefit from planning less and letting people control how they navigate an event.

This is where experiential marketing events come in handy. They are designed to create memorable and immersive brand experiences for attendees. AR and VR can provide a multisensory experience, while gamification fosters participation and interaction.

Data-Driven Personalization

Surging event trends reveal that organizers gather data from attendees by requesting information or tracking their behavior. Incorporating event marketing ideas into this strategy can significantly boost engagement levels and overall success. Doing so allows them to customize the event experience to suit the individual tastes of their audience.

An excellent example of data-driven personalization is leveraging mobile event apps to provide networking and content suggestions. Attendees can also make hotel arrangements on the app or a desktop program. This makes it easy for them to book their accommodations while enabling event organizers to provide the best route from their hotel to the venue.

Photo by: abillion | Source: Unsplash

Moreover, leveraging data can give organizers a greater understanding of their attendees. It can help them identify which sessions are popular among attendees or exhibitors that they deem to provide value. They can also use data to match sponsors to attendees likely to use their products or services.

Staying Within a Tighter Budget

Sticking to a budget is one of the major challenges of event professionals, according to KNOWLAND’s 2023 State of Meeting Industry report. Almost half or the respondents (46.3%) cite increasing costs as one of their primary concerns. Another 21% of organizers point to budget cuts, prompting them to reduce optional off-site activities, off-site evening events, and days of the program.

This is where hosting virtual and hybrid events can help. As companies are planning to spend less on business-related travel, such event formats will enable them to participate remotely. Conversely, organizers can apply for “subvention grants” to offset the cost of organizing an event.

Equity, Diversity, and Inclusivity

EDI is one of the key event trends that organizers should watch out for and emulate. More and more companies are incorporating EDI in their events by working with minority-owned suppliers and giving attendees the option to attend virtually.

More importantly, attendees would like to see themselves represented in an event. Organizers can do so by bringing BIPOC speakers to talk about industry-related topics that go beyond diversity and inclusivity.

Other examples of implementing EDI strategies in your events are:

• Providing gender-neutral restrooms
• Asking attendees to specify accommodation needs (i.e., diet restrictions)
• Having lactation rooms for nursing parents
• Providing alcohol-free drink options
• Making event spaces accessible for people with disabilities 

Incorporating Sustainability Practices

The AMEX 2023 Meetings and Events Global Forecast reveals that 80% of meeting and event (M&E) professionals consider sustainability when planning events. That said, sustainable event planning may include the following:

• Minimizing paper usage
• Implementing energy-saving measures
• Booking green suppliers

The Oregon Convention Center is paving the way for sustainable event practices. It has 6,500 solar panels and rainwater collection and treatment systems, making it the first convention center to earn a Leadership in Energy and Environmental Design (LEED) certification. They also donate about 35,000 meals from unused food items to local nonprofits, addressing food scarcity in the city.

Keep Up With Today’s Event Trends

Events are pivotal in building company culture, driving businesses, and fostering personal development. That said, the event trends that will emerge in the future are a nod to lessons learned during the past few years. These include a deeper appreciation for face-to-face interactions, providing value to attendees, and letting them choose how they will spend their time.

Meanwhile, event organizers must find ways to provide value to attendees, sponsors, and other stakeholders despite budget constraints. They can do so by choosing a venue that lets them implement sustainability, equity, diversity, and inclusivity while offsetting some of the cost of organizing an event. It also helps to leverage event technology to enhance attendee experiences and encourage interaction, whether they are participating onsite or remotely.