Global Event management software market

Event Management Software Market Size, Share, Growth Analysis, By Component(Software, Services), By Service(Professional services, Managed service), By Professional service(Consulting, Deployment & Integration, Support & Maintenance), By Deployment type(On-premise, Cloud), By Organization size(Small & Medium Enterprise, Large Enterprises), By Application(Event organizers & planners, Corporate, Government, Education), By Region - Industry Forecast 2024-2031


Report ID: SQSG45E2044 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 169 | Figures: 79

Event Management Software Market Insights

Global Event Management Software Market size was valued at USD 7 billion in 2019 and is poised to grow from USD 7.9 billion in 2023 to USD 14.1 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).

The term "event management software" refers to a broad category of software products used to manage professional and academic conferences, trade exhibitions, smaller events, and conventions such as continuing professional development (CPD) meetings. This software assists users in planning events, engaging attendees, measuring the impact of their events, and registering for upcoming events online. Data analysis tools, sales management, beverage management, staffing management, catering management, package management, online event registration, invoicing & payments, task management, and other features are included. The significant increase in the number of entertainments, gaming, and sports events organized in recent years, as well as the growing need for software solutions that can streamline event management, are some of the factors expected to drive market growth over the forecast period. Demand for event management software is expected to rise in the post-COVID-19 era as SMEs and large enterprises gradually migrate their IT infrastructure to cloud networks to improve business continuity and operations.

US Event Management Software Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Event Management Software Market size was valued at USD 7 billion in 2019 and is poised to grow from USD 7.9 billion in 2023 to USD 14.1 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).

The event management software market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective. 'Cvent', 'Aventri', 'Eventbrite', 'Bizzabo', 'EventMobi', 'Eventzilla', 'Whova', 'RegFox', 'Swoogo', 'Hubb', 'Certain Inc.', 'Boomset', 'Attendify', 'etouches', 'DoubleDutch', 'Splash', 'Glisser', 'Gather', 'SpotMe', 'Socio'

Increased adoption of advanced data analytics solutions is a major driving factor. Using data-driven and fact-based information, advanced analytics is a comprehensive set of analytical techniques and methods designed to assist event management companies in discovering trends and patterns, solving problems, accurately forecasting the future, and driving change. They assist businesses by providing sophisticated algorithms and analytical techniques that aid in effective decision-making. These tools assist event management firms with average skills in exploring data and reaping the benefits of augmented analytics with guidance and recommendations for better and clearer results.

High demand for centralized event promotion and financial transaction management and control cloud technology is being adopted by key market players because it allows end-users to store massive amounts of data and files in a remote location and access them from any internet-enabled location. Thus, cloud-based software solutions facilitate interaction between event planners and employees, suppliers, and clients. Cloud-based solutions assist event planners in the creation and management of location lists, the representation of pictorial images or charts for better management, and even the identification of potential custom events. A cloud-based event management software can manage event teams from any location at any time, as well as support and manage booking requests in a streamlined manner.

Based on region event management software market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. With a market share of more than 45.0 percent in 2020, North America dominated the market. North America is home to several prominent market players, including Bizzabo, Aventra Inc., and Glue Up, as well as several small and medium-sized businesses, which bodes well for the region's growing adoption of event management software. The region is also known for hosting a variety of public events, such as film festivals, marathons, and other educational institution-hosted events, as well as a variety of private events. According to Billboard's findings from June 2018, approximately 800 music festivals are held in the United States alone, with over 32 million attendees. The region's adoption of event management software has been driven by the need for efficient management of all such events. From 2022 to 2028, the Asia Pacific regional market is expected to grow at the fastest CAGR of 15.4 percent. The regional market's expansion can be attributed to enterprises in Asia Pacific countries such as China and India's growing preference for technologically advanced solutions. Furthermore, the Asia Pacific region has a large number of skilled and tech-savvy professionals who can effectively use the most recent software solutions on the market.

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Global Event management software market

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