The global provider of Momentus Technology for venue and event management solutions and BoldPush, the media and consulting firm for the events industry, has released a white paper on the future of event venues, providing insights into the evolving role of venues in the industry.
The future of event venues is technologically driven
The survey suggests that the venue’s future is tech-driven, with 67% citing AI as having a major impact on venue management.
Additionally, 50% of respondents expect to focus on future technology and automation in the industry, with 44% identifying the adoption of advanced technology as an initiative that will change the top game.
Venues that employ data-driven operations
Research shows that data is considered mandatory.
91% of respondents consider data analysis to be essential (67%) or extremely useful (24%).
Additionally, 52% identify data analytics as a key technology sector, consistently prioritizing certain metrics such as revenue generation (26%) and ROI (20%).
What about sustainability?
The surprising findings from this study were the topic of sustainability, a major topic in the current events industry.
Sustainability remains important, but research shows that it is now seen as a fundamental expectation rather than a groundbreaking market differentiator.
80% of respondents consider sustainability to be very or very important for the venue’s future, weighing 60% when selecting partners.
Meanwhile, 38% prefer waste-reducing techniques as the best approach to balancing luxury and sustainability.
Increase in costs and solutions
While rising costs are not new, research has found that training and automation are key to reducing them.
77% of respondents said they expected automation to significantly improve efficiency, with 35% identifying staff training and education as the top resources needed to prepare for the future.
Participants in the survey included venues and event management companies from over 50 countries, with respondents ranging from event managers to C-Suite executives.
Check out the full white paper here.
Source link
