Virtual events benefits and the market’s exponential growth.

What advantages do virtual events have? Despite the protagonism of in-person events, virtual gatherings are still relevant and important in today’s society thanks to all the benefits that they bring to the table.

Although in-person events still have a lot of popularity, online events haven’t ceased to exist. On the contrary, recent studies have shown that the market for virtual gatherings is exponentially increasing thanks to the virtual events benefits.

The current status of the virtual events’ market

According to Grand View Research, the size of the global virtual events market was estimated at USD 98 billion in 2024, and a growth rate of 20% is expected from 2025 to 2030 in terms of compound annual growth rate (CAGR). 

To give an example, the North America virtual events market generated a revenue of USD 39,027.2 million in 2024, which is 39% of the revenue generated in the global virtual events market.

Why is the virtual event industry growing?

Grand View Research listed a few reasons and examples explaining this current state of things. Firstly, they stated in their report that the growing acceptance of remote and hybrid work models is helping the market to grow. 

Additionally, the development of technologies that allow interactive and immersive digital experiences -such as streaming and augmented reality- has fueled the interest among the younger generations into events that offer networking opportunities and engaging content delivered through technologies like virtual reality and AI.

As a matter of fact, the integration of AI, augmented reality (AR) and virtual reality (VR) into the virtual events improves the user experience and engagement, turning digital events into an interesting option compared to in-person gatherings.

The advantages of hosting a virtual event

In spite of the popularity of in-person events, virtual gatherings still have a big revenue share on the events market thanks to the numerous advantages they offer in terms of accessibility and inclusivity.

In reality, virtual events make it easier for the remote audience to participate in gatherings taking place at different geographical locations, breaking the physical barriers and allowing everyone to be everywhere they want to be. This helps to reduce the costs and time that it takes to attend a physical event, and it also enables users to participate in events to which they wouldn’t normally have access.

Thanks to this advantage, distance is no longer an issue, and the attendees can freely participate in gatherings without the need for transportation. By eliminating the transport inconvenience, travel expenses can be reduced, and this could have a positive impact on the environment by cutting down on individuals’ carbon footprint.

Additionally, virtual gatherings allow people who have health issues to attend the event without the need of leaving their home. Therefore, people with disabilities, mobility issues and chronic conditions are free to participate just by clicking on their laptops or smartphones.

Moreover, this type of event can provide digital and useful services such as real-time captioning, real-time translation and video recording. These services are a big improvement of the accessibility and inclusivity question, allowing individuals to better engage with the present moment. Besides, the video recording feature also provides better scheduling flexibility by enabling attendees to get access to the content at their convenience.

The financial benefits

Organizing virtual events has not only benefited people in terms of accessibility and inclusivity, but it also provides significant financial benefits for event organizers.

Compared to in-person events, virtual gatherings don’t require venue rental, which is one of the largest expenses an event can have.

Aside from venue rental, physical events demand a large amount of logistical actions that can end up being pricey. Transportation costs, catering, security, staff, stage setup and equipment are a few examples of the different expenses an in-person event must face. Regardless, virtual gatherings reduce the needs of logistics, staff and physical equipment.

How Workadventure supports virtual events

There are many ways to host virtual events, the possibilities are endless. Nowadays, different software products can be helpful to gather people online. Nevertheless, Workadventure offers an interface capable of emulating the in-person event’s experience into a digital environment full of spontaneity and interactivity. With Workadventure you’re free to design your own virtual map where users can move and interact with each other thanks to their avatars (Woka), and you’re capable of setting up your space as you wish for a significantly better price compared to traditional in-person events costs.

To summarize: Although in-person events have a lot of popularity among people, the global market of virtual events hasn’t stopped growing. Event organizers and attendees prefer the virtual option because of the numerous benefits they bring to the table, such as inclusivity, accessibility, flexibility in scheduling, digital services and low costs.