The size of the virtual events market was valued at 77.98 USD billion in 2019, and it will keep growing at an annual growth rate of 23.2% from the year 2020 to 2027.

An extensive range of activities is covered in virtual events, from audio conferencing and videos to live broadcasting and streaming.

The most common type of digitally simulated events includes job fairs, trade shows, company conferences, sales-meetings, and summits.

From statistics related to organizers in their preparation phase of virtual events, 90% of virtual event organizers use surveys to measure attendee satisfaction to get accurate numbers compared to physical events.

From an online event held on the 16th April 2020 as 12,500 professionals from both the hospitality and event industry gathered together virtually to a Commemorate Global Meeting Industry Day. Visitors attended the event from all over the world (Canada, India, Argentina, United Kingdom, Philippines, Colombia, Singapore, Finland, Denmark, Malaysia, Brazil, USA). Throughout the hosted online event, there were some questions asked from all the attendees. It was about how will live event changes after the COVID-19 pandemic is over? 7086 poll respondents,62% of the people predicted that most events will become hybrid.

Virtual meetings have pushed all potential clients across all types of businesses to get a reliable experience systematically. Virtual meeting is now replacing in-person meetings so that the person does not have to travel or move to attend a meeting.

In virtual events, an organizer can record all the proceedings meetings. It can help organizer’s groups and teams be more accountable and generate faster action.

The COVID-19 pandemic stimulated the adoption of virtual events in the marketing mix of all companies far and wide. Most institutions will host over 20 virtual events per year.

Many studies showed the main reason why companies host virtual events? Virtual events are scalable, not expensive compared to physical events, and they provide networking possibilities in times where in-person events are not an option.

Virtual events organizations offer many advantages, including security for all the attendees, easy access from anywhere, low budgeting, and many more.

Online events cover different topics and industries- conferences, webinars, concerts, summits, courses, question sessions, tours of museums, galleries, and more.

A professional survey exhibited that almost three-quarters (73 percent) of businesses plan to conduct hybrid events before the end of 2021.

In 2021, web conferencing and online events will account for 80% of all internet traffic.

In virtual events with the recorded session, you always ensure that no attendee has missed an important detail or discussion. The organizer can share the virtual event with any missing colleagues.

As found by Gartner's HR survey, 88% of organizations have encouraged or required employees to work from home due to COVID 19 pandemic. Therefore, the development of virtual events enables teams to stay connected and keep business running smoothly.