ExpoPlatform, a provider of event management software for exhibition organisers, has released its 2023 Event Tech Forecast. The report was put together with the help of key industry contributors, who also provided their expertise.
By utilising the insights of the industry veterans, the study focused on four topics:
- How much annual revenue will come from digital channels
- Where are the biggest opportunities for event technology to develop
- The most important challenges facing event professionals right now
- The key event tech features moving forward
Digital channels
The report made clear that digital revenue has become increasingly important in an organiser’s business model, with half of the respondents expecting 10%-29% of 2023 revenue to hail from digital channels this year. The figure is an increase of over 10% from the last research – from July 2022.
Almost 10% of respondents were ambitious about the rise of digital, predicting that revenue from their digital channels would rise 50%. Only 5% of respondents expected their digital revenue to reduce in 2023.
Big opportunities
Upcoming opportunities for event tech growth were also surveyed. Community nurturing around a product or event is set to be a key focus for 2023, with 63.6% of respondents highlighting it as the biggest opportunity for tech growth this year.
Nurturing communities was followed by proving exhibitor ROI and digital monetisation, which both pulled in 50% of responses highlighting it as an opportunity for growth.
Contributor Rob Millar, director at Devonshire and St Andrews, explains that a good way to capitalise on the need for community nurturing could be to onboard someone with the skillset to forge and maintain marketplaces from a strategic plan – like a community manager.
Challenges and tribulations
The top challenge experienced when using event tech was a seamless experience across the platforms, according to 59% surveyed. This challenge was closely followed by good ROI for exhibitors, integration between suppliers, and lack of skilled resource – all three tied at 55% of responses.
Stephan Forseilles, head of technology at Easyfairs, describes a current trans-industry ‘war for talent’ in which the exhibition industry is not the best-equipped army to win. To bridge this gap, he suggests the industry further invest in quality-of-life attributes such as work-life balance and remote working.
Key tech
Event professionals explained how they are currently using event tech, the top three being:
- Event mobile apps (64%)
- AI matchmaking (50%)
- Lead retrieval (50%)
The report concluded that mobile apps were an obvious choice for event tech, considering that most individuals carry at least one form of mobile device on their person every day. Events need to stay relevant in the digital age, Forseilles concludes: “The live trade shows are the best place to get current information, because then you can really see what's happening in an industry.”
“It's super important data – so collecting it for long enough to be able to use it in a meaningful way is key to the future of trade show organisers.”
