AVIXA announced Thursday that in its latest Market Opportunity Analysis Report (MOAR): Corporate Events, the findings overwhelmingly show that corporate event audiences demand interactive ProAV technology.
Of the $247 billion total ProAV market of 2019, the live events market represents $26.7 billion. The report details that the live events market aims to satisfy corporate event attendees’ hunger for interactive technologies — from displays to showcase live social media feeds to virtual attendance options. In the report, the live events market includes live performance events and corporate events. The exact numbers aren’t known, but according to Sean Wargo, senior director of market intelligence at AVIXA, corporate events represent the bulk of the live events business served by AV providers.
“Corporate events are a large and growing portion of the live events space, thanks to a continuing need for companies to educate, promote and celebrate their brands, products and services,” Wargo said. “The experience economy has raised the bar for producers of these events, requiring the latest in technology to attract and engage audiences, particularly given the busy nature of trade shows and other large events where time is at a premium.”
In the corporate events survey, 83 percent of respondents said interactive touch displays enhanced their experience at the event, and 77 percent of respondents said projection technology enhanced their experience. According to AVIXA, this concludes that interactive visual components are important to event-goers.
AVIXA notes in the report that its data is based on the idea that at conventions and trade shows, attendees have choices about what events to attend — and that survey respondents noted that they frequently attend events that aren’t required for their job. Since respondents are attending these events by choice, the report concludes that their responses reveal what providers can do to attract them.
Read the full press release here.