target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: Market Forecast - Doc Document number: # US49860222
Worldwide Virtual Event Applications Forecast, 2022–2026: Every Event Needs to Be Virtual
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Abstract
This IDC study looks at the evolving future of virtual event applications market. No longer can events be in person only, especially when the larger audience cannot travel for whatever reason. Virtual events welcome people into the sales funnel and move them through it to buyer and advocacy. Webinars, also included in this study, are more frequent and important than before. Both meet the expectations of a more tech-savvy audience to engage people, keep the people engaged, and be as close as possible to "in real life (IRL)" events.
"People expect the option of in-person or highly engaging virtual events," according to Wayne Kurtzman, research vice president of Social, Communities, and Collaboration, IDC. "Travel may be an option but engaging a larger audience for a longer time is not. 47% of workers will attend six or more virtual events over a 12-month period (see IDC Conferencing and Virtual Events Survey, 2022, IDC #US47735922, November 2022). Companies need to remain connected and need to engage, nurture, and create communities with today's prospects and customers. IDC estimates that the virtual event applications market will grow to $3.8 billion by 2026."