January 31, 2024
By Hope Salvatori

Event industry statistics serve as a compass, guiding organizers, marketers, and industry professionals through the intricacies of planning, executing, and measuring the impact of their events.

From the rise of virtual events to the strategic significance of sponsorships, and the metrics that illuminate return on investment, we’ll navigate the data-driven event statistics landscape to uncover insights that empower event professionals in making informed decisions and charting the course for successful, impactful gatherings.

General Event Statistics and Financial Growth

The event sector is experiencing a rapid evolution. Here are some of the most notable trends and recent insights in the events industry:

  • The events market was valued at $5.6 billion dollars in 2022, a substantial 37% increase from 2021’s $4.08 billion valuation. And event professionals have every reason to believe that this trend will continue because…
  • A study released in March 2023 indicated that three out of four surveyed professionals were confident about achieving better results than in the previous year, with 16% expressing extreme confidence and only 9% reporting doubt.
  • Industry surveys also highlight a forecasted growth across all meeting and event sizes in 2024, with 78% anticipating an increase in the number of small and medium-sized meetings (under 100 participants), while an equal number foresee a rise in meetings with over 100 participants.
  • The industry is optimistic about events-related revenues as well, with over one-third (36%) of meeting professionals expecting a revenue increase of up to 50% from 2022 numbers in 2023.
  • In fact, research shows the global events industry market is expected to reach a revenue of 2.1 trillion by the year 2032, exhibiting a compound annual growth rate (CAGR) of 6.4% from 2023 to 2032.

It’s not all sunshine and roses, however:

Still, the event industry is demonstrating a high level of adaptability, underscoring its resilience in a fast-moving world. The proof is in the increase to spending, despite industry-wide cost concerns and challenges:

In-Person Event Statistics

Conference Marketing In-Person Cvent CONNECT 2023

Despite the disruptions of recent years, in-person events are having a strong rebound:

The preference for in-person events aligns with the sentiments of attendees as well:

  • 85% of respondents to a 2022 survey expressed eagerness for live concerts and 81% stating that they would like more music festivals, underscoring the enduring appeal of live music experiences.
  • And a striking 65% of consumers say they better understand a product or service when they experience it through live events.

This resurgence of in-person events reflects a collective yearning for genuine connections, networking opportunities, and the unique vibrancy that live experiences bring.

Virtual Event Statistics

Though in-person events are back with a vengeance, they aren't lessening the impact or importance of virtual events:

So why are people attending virtual events?

And what are event professionals prioritizing?

They’re also thinking about revenue:

  • Twenty-one percent of event professionals cited the generation of revenue through ticket sales as the main priority of virtual events.
  • Sixty-eight percent of event organizers reported charging for virtual events as of 2021 and were planning to keep doing so.
  • Fifteen percent stated that they weren’t currently charging for virtual events but planned to do so in the future. 

Unfortunately, there are some pitfalls to virtual events: 

Ultimately, navigating this evolving landscape means harnessing the unique advantages of both in-person and virtual events to create compelling and impactful experiences.

Hybrid Event Statistics

Event Technology Trends Hybrid Cvent CONNECT 2023

The versatility of hybrid events not only accommodates a broader virtual audience but also preserves the essence of traditional in-person experiences, fostering meaningful connections. Combining the best of both worlds, hybrid events are becoming increasingly popular:

However, with this integration comes unique challenges: 

It’s clear that hybrid events are becoming integral to the fabric of event planning. Embracing this evolution requires addressing challenges to deliver seamless, inclusive, and impactful experiences.

Event Technology Statistics

So what’s backing this digital evolution? Innovative event technology, that’s what:

Unsurprisingly, the surge in online experiences during 2020 triggered fierce competition among video calling platforms:

What other kinds of event technology are being utilized?

The benefits of event technology are multifaceted:

Additionally, 78% of event organizers using mobile event apps report a positive contribution to event Return on Investment (ROI).

Event technology isn’t without its drawbacks, however:

In navigating this transformative landscape, event professionals must strike a delicate balance between embracing digital innovations and mitigating the challenges inherent in the evolving realm of event technology.

Webinar Statistics

Cvent Webinar

Webinars are one of the main drivers of the event technology evolution:

  • In the realm of online event marketing, webinars have solidified their central role, as affirmed by a staggering 99% of companies recognizing them as a critical element of their marketing plans. 
  • This acknowledgment is a driving force behind the projected growth of the global webinar market, poised to reach an impressive $800 million by 2023.

But what do attendees think about webinars?

  • Approximately half of event attendees favor webinars as a preferred tool for virtual events.
  • When it comes to specific aspects of webinars, 29% considered the Q&A session as their favorite part of webinars, while 1% cited free giveaways.
  • Despite the evident appeal, however, it's noteworthy that the average webinar attendance hovers at 55% of the registered attendees.

As the global webinar market continues its upward trajectory, a nuanced understanding of attendee preferences and effective strategies to enhance participation are crucial for maximizing the impact of this versatile online event platform.

B2B Event Industry Statistics

Businesses are keenly aware of the power of events to drive success, especially when it comes to selling to other businesses:

Navigating the B2B event space comes with its share of challenges. Most notably:

These points underscore the evolving nature of the B2B event landscape when it comes to revenue, audience growth, and embracing virtual solutions.

Event Marketing Statistics

The role of effective event marketing cannot be overstated: 

From driving sales to cultivating lasting customer relationships, event marketing has a tangible impact and is a pivotal contributor to revenue growth.

Attendee Engagement Statistics

People sat around tables at an event

Attendee engagement takes center stage as a decisive factor in event success:

Engagement isn’t always an easy road, though:

  • Despite its acknowledged importance, 67% of event marketers find it challenging to maintain attendee engagement during virtual events.
  • Event before an event begins, engagement is an issue, with a growing trend in last-minute event registrations that is presenting a challenge for event professionals.
  • In addressing this challenge, 63% of event marketers believe that leveraging attendee engagement tools can play a crucial role in their event marketing strategies.
  • Planners are also focusing more on individual attendees' needs, crafting smaller, more exclusive, and boutique-style events that deliver an exclusive and premium experience for attendees. In 2023, approximately one out of five businesses expressed a plan to increase spending on VIP customer events in 2023 and beyond. 

The metrics and challenges ultimately paint a nuanced picture of the evolving expectations and dynamics of events.

Event Sponsorship Statistics

Organizations also recognize the value of event sponsorship:

This segment is poised to play a central role in the event landscape as organizations continue to recognize its potential.

Event ROI Statistics

But above all else, it’s about the bottom line:

Although some companies struggle to discern their ROI, the positive outcomes reported by a majority of B2B organizations make it worth it to understand, measure, and optimize the return on their event investments.

Elevating Your Events with Actionable Statistics

As the events industry continues to evolve, driven by technology, evolving preferences, and global dynamics, the role of event stats is crucial. Event planning industry statistics are more than just numbers; they serve as directional markers navigating us through the dynamic currents, aiding organizers, marketers, and industry stakeholders in overcoming challenges and capitalizing on future opportunities.

Hope Swedeen

Hope Salvatori

Hope is a Senior Content Marketing Associate who has been with Cvent for more than two years. She has 8 years of experience producing content for corporations, small businesses, associations, nonprofits, and universities. As a content professional, she has created content for a wide range of industries, including meetings and events, government and defense, education, health, and more.

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