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Over the past 12 months, the pandemic has forced a widespread use of virtual tools on the event industry, which has historically been slow to adopt event tech. This has led to an anomalous market in which planners’ need for and reliance on event tech have essentially gone from zero to 60 almost overnight.
In response, event tech providers (many of whom themselves took a big hit in the first and second quarters of 2020) were forced to quickly pivot and reinvent their offering in order to meet market demand without a clear roadmap of what lay ahead. The strategy paid off in 2020, with the event tech sector experiencing massive levels of growth and investment.
However, the next few months represent uncharted territory. According to a recent survey, 30 percent of planners are still struggling to make a profit with virtual events, and only 60 percent of respondents indicated that they plan to go virtual with their next event.
How will that impact the way things play out for tech providers in 2021?
What’s your anticipation on the the future of the industry?
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