Event Tech
Left : The Flox metaverse platform in action cost saving and 335mt of carbon saved on a 3,000-person physical event . Combining audiences offers huge efficiencies and productivity gains , with a smaller in-person event and wider digital audience being more cost-effective and better for the planet .
In building a digital twin of any corporate or educational HQ , content can be delivered through the virtual events platform to a physical screen . Or the reverse , relaying live content to an expanded real-time remote audience .
Through offering remote-based attendance , event organisers can increase audience diversity and inclusion , and maximise participation - perhaps even securing a preferred keynote speaker who might otherwise be unavailable .
The rise of hybrid events – the best of both worlds
ALISTAIR BRYAN , CO-FOUNDER OF METAVERSE PLATFORM FLOX , BELIEVES DEMAND FOR VIRTUAL EVENTS IS ONLY INCREASING
T he virtual events sector is experiencing booming growth , driven by demand to offer more immersive experiences . With the global metaverse market expected to surge from $ 47.48bn in 2022 to an estimated $ 678.8bn by 2030 , increasing ESG directives and frustrations with 2D platforms have event managers scrambling . They ’ re looking for ways to maximise engagement with stakeholders , offer backup options , and drive return on investment .
Progressive events leaders are already making metaverse virtual events central to their sustainability strategies . But a good first step for event managers in any industry is to blend real and virtual experiences through a hybrid event .
Demand for digital Creating dynamic human connections is no longer the preserve of in-person events . With metaverse virtual events platforms offering live events with personalised avatars , networking through messaging and video , and instant translation into multiple languages , virtual events look and feel even more real .
There ’ s equally high demand from organisers and attendees for virtual and hybrid experiences according to Kaltura , 74 % of marketers say virtual events are the most important for overall events strategy , and 84 % of in-person delegates want a virtual backup option .
Hybrid benefits Bottom line - virtual events are a boon for cost and carbon savings . A full metaverse event offers an estimated 85 %
Evolution of the events industry Now that digital advances are taking the events industry in a new direction , a metaverse virtual events platform allows opportunities for event planners to communicate between events , continuing the conversation for stakeholders while meeting sustainability objectives .
As the culture shift continues within the events industry and event organisers realise the power of digital communities , we ’ ll see a new era in events - perhaps within months rather than years .
What would I say in response to those who say the movement is now a stampede back to in-person events and away from virtual / hybrid ?
Inevitably when zero was happening in real life , the return to in-person might look like a stampede . But many organisations have changed the repertoire of what they use . The sector has now diversified and we ’ re seeing adoption of virtual from varying degrees - based on organisations ’ needs . For example , some businesses with smaller budgets are looking to see how they can stretch them , leading them to take on a hybrid model . With the virtual events market predicted to grow at a consistent CAGR of around 21 % to 2030 , from here the only way is up .
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