Tech in the Events Industry
Right since the onset of the 21st century, the event industry had started to take sharper turns of innovation and transformation. In the present day, event industry is estimated to be around US$8 billion. An industry having a high quantum of commerce and unfathomable, perpetually growing scope is bound to have a massive market in the tech business world. With events seeping in almost all business types, the growth of the event industry is inevitable.
In today’s world, the event industry is not just limited to the corporate and media houses. The event industry is mainly capturing the social entrepreneurship-related activities and is also making money from PR, family initiated events like marriages, etc. When we talk about technology imparting substantial impact on events, it will be supported by facts and figures. It was recently reported that the event industry is cutting cost up to 24% by in-depth use of technology. The high-tech fraternity is also eyeing to capture and transform the event industry, not just for the money making purpose but to make this world to a better place.
We are quite similar that VR is undoubtedly becoming more prominent with the involvement of millennial generation in the events industry. Marketing is pinpointed, focused on the digital channels – digital marketing is taking a new phase with VR and AR-enabled content spreading all over. It is commonly seen that the premium event organizers are taking AR and VR ways to publicize and magnetized their costly events.
On a similar note, the industry is keeping itself on toes for creating finer here, and we have enabled devices for letting the rolled out even be highly successful in no time. Aniston is inferred that the aspect of content delivery required in the event industry is also impacted mainly by the excellent quality content built with the virgin technologies.
Empowering Events by 5G
Induction of 5G networks and bandwidth for data transmission is another motivation for the technology to enable events. 5G has its perks as the data speeds will be independent of the traffic on the network. Thus it can be easily incorporated in IOT enabled devices to set up for the event management industry. Now, super fast Internet can help even manages to store all their events in a completely take a powered environment with automated logistics, facial recognition for tickets, AR and VR for publicity and much more.
Facial Recognition in Place of Tokens & Tickets
The rise of artificial intelligence has made potent facial recognition systems ubiquitous. Nowadays, even the event industry is welcoming facial recognition to replace regular ticket checking and RSVP management system. The series of transformation has depicted that the event industry is welcoming facial recognition with both arms open. Even in India, there has been an exponential rise in how the crowd experience has been elevated with AI based face recognition system.
How is it done?
This is done merely by capturing and storing an active database of the photographs of all the registered participants into an event. The same has been seamlessly patched with the on-site facial recognition system. Whenever a person scans through the recognition system, it is easy for the person to move in without any hassle of identity or ticket verification. It not only reduces the requirement of Manpower but is another potential aspect for lowering costs.
Projection mapping is one of the entrant trends in the event industry. It is a fantastic concept which takes augmented reality to create similar events for detailed planning with the help of projectors. Imagine yourself ‘pseudo-experience’ event much before it has been organized or even stalled. It is a potential technology which can help the event industry reach new audiences and also motivate the laggards for getting into events and market it effectively.
It drastically eases the margin of error for the event managers and planners. It is the same old story for even manages to miss and troubleshoot at the last minute. It can be quickly eliminated or at least reduced by this great technology which will help them plan prior in much detail.
All in one mobile app for events
These days there are several event management forums and platforms rising to the surface in this world of the Internet. It is quite a familiar fact that resourcefulness is an essential aspect of event planning and further management. This technology is helping the event industry tap in all the resources and the relevant details regarding venues, availability and several other options on the same requirement just through a mobile application development.
There are several applications which are helping the event industry. There are many more products in the pipeline as well. Recently the event industry is experiencing hassle free event management through an application which has all the resources for assigning and conforming on tasks divided into all the teams. It also gives you options then and there through Google Meta search. One can maintain a live Gantt chart to keep track of the delay in time and also check the productivity at every step.
The final word
The $8 billion industry is turning about a million transformations in no time. Thus it is essential for the drivers of this industry to understand that they need to settle somewhere on the entrant technologies. Then, let them mature with time and practice. Every entrant technology might have its benefits and drawbacks but only the time can help it sublimely overcome the shortcomings. Moreover, the new technologies might seem fancy; it must be realized that they create an excess overhead of the finances. The major players of the event industry might be in a position to welcome all such changes. The young start-ups and innovations might find it as a hurdle to compete and collectively grow out of an ecosystem; benefited by the technology.