Industry technology provider Cvent has released the Cvent Event Industry Report 2024 – Australia Edition, and it reveals that event planners aim to increase their events across formats. The report was produced by independent market research consultancy Censuswide and surveyed over 15 planners, marketers, and event decision-makers in Australia. The results provide event professionals with insights into the latest trends and pointing to opportunities for clients to offer more engaging and impactful experiences to their target audiences. The results of the report project a 52% increase in in-person events, followed by hybrid events at 50%, webinars at 48%, and virtual events at 41%. The shift in event formats is driven by the growing demand for more interactive and immersive event experiences. The report highlights that 66% of event professionals in Australia plan to increase their event spending and 95% are prioritising event expenditure. The report also indicates that revenue from an event emerged as the biggest challenge, followed by event tech challenges as the second biggest pain point. Nevertheless, Cvent tracks a significant investment in event technology at 48%, and a rise in tech adoption and the number of events being organised. With event budgets increasing and event expenditure becoming a priority, the report also highlights how organisations are willing to spend on event technology if budget allows. The report further showcases Australia’s high receptiveness to tech advancements in the events industry, with 54% of organisations identifying themselves as early adopters of event technology solutions, such as event websites and registration, event mobile apps, and all-in-one event platforms (supporting virtual and hybrid). Sustainability continues to remain a prime focus, with 81% of respondents claiming a sustainability target for their events, 66% willing to track event/attendee carbon footprint to become more sustainable, and 72% of organisations implementing sustainability in events last year. Jack Ukil, head of Cvent Australia, said: “The events industry in 2024 has undergone significant transformations, sparking increased investment and ambitious goals among event organisers and marketers in Australia. This surge in activity mirrors the sustained growth witnessed in the industry. However, generating revenue remains challenging, underscoring the growing importance of aligning events with business objectives to maximise return on investment and demonstrate value.” Next big technology to shape the events industry in Australia were identified as:
- AI and machine learning to create personalised schedules and content.
- Virtual and augmented reality to unite in-person and remote experiences.
- Spatial computing technology for immersive and interactive event experience.
- Sustainability tech solutions to help reduce the environmental impact of events.
View the full Cvent report here: click
