Event Management Software Market Highlights:
The global event management software market is growing exponentially mainly due to the increasing expenditure on event management, growing adoption of cloud platform, and rising online education programs. Moreover, the increased investments transpired and the adoption of cloud platforms by the key players operating in the market escalates the market to furthered heights.
Acknowledging the impressive growth records, the market perceives today, Market Research Future (MRFR) in its recently published study report asserts that the global Event Management Software Market is expected to reach USD 14.45 Bn. by 2022 registering approximately 11.39% CAGR from 2016-2022. In the year 2016, the market had valued at USD 7.57 BN which means the market is expected to garner a double fold growth just in 6 years.
Additional factors substantiating the market growth include increasing demand for these solutions, consumer shift towards the digital medium for training and education programs. The proliferation of the Internet and widespread use of mobile devices, along with rising online usages, together are encouraging companies to consider training management solutions to boost the performance of their employees. As a result, the adoption of event management solutions is growing and so is growing its market size.
On the other hand, factors such as lack of technical expertise and changing consumer needs are hampering the market growth, slowing down the development of its customized solutions.
Corporates, among all application segments, is the highest beneficiary market, due to the high number of corporate events each year. Every company conducts seminars, conferences, or trade shows to increase its market presence and thus the demand for event management software grows. The education sector is the major source of revenue for event organizers as the growing number of online education programs is increasing the demand for platforms to conduct successful events.
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Major Key Players:
Fervent players driving the market for the event management software include Etouches (U.S.), Cvent Inc. (U.S.), Eventbrite (U.S.), Bizzabo (U.S.), Lanyon Solutions Inc. (U.S.), Certain Inc. (U.S.), Ungerboeck software International (U.S.), Regfox LLC (U.S.), Active network LLC (U.S), and Pulse network (U.S).
Event Management Software Market Segmentation:
Event management is the process of creating and developing of small and large scale festivals, concerts, corporate presentations, ceremonies and many more events. It includes task such as brand study, categorizing target audience, budgeting, scheduling, venue sourcing, transportation, and parking among others. These applications thereby required lots of paper and manual work and thus is a very tedious job for event planners. Event management software consist of various type majorly categorized into analytics software, event registration software, event marketing software, On-site technology and venue sourcing among others.
Every application sector including corporate, education, associations, event organizing company and government is adopting event management software over traditional approach. Globally event registration software among all is growing with a highest revenue value of $ 2.43 billion in 2016 and it is estimated to reach $ 4.99 billion by the end of 2022, with growing CAGR of 12.73%, followed by event marketing software, on-site technology, venue sourcing software, and analytics software in year 2016.
Event Management Software Market Regional Analysis:
The North American region dominates the global event management software market with the largest market share. Factors substantiating the market growth in the region include the rising expenditures on event management, increasing adoption of cloud platform, and growing number of online education programs among others. The event management software market in North America is expected to garner over USD 6 BN by 2022.
The European region accounts for the second-largest market for the event management software. Factors such as the increasing demand for training & development programs and the proliferation of the cloud technology allow the market in the region to flourish. Undoubtedly, the resurging economy in the region is playing a vital role in the growth of the market, allowing huge budgeting for the training programs. Owing to the augmented uptake of these solutions the event management software market in the European region is expected to grow at 11.23% CAGR during 2016-2022.
The Asia Pacific region is emerging as the fastest growing market for the event management software witnessing a healthy growth. The increasing urbanization and growing number of training programs alongside the improving economy foster the market growth in the region, increasing consumers’ purchasing power. Markets in China and India are impacting the market growth positively, attracting international players in the region. Besides, the high uptake of cloud technology is driving the market growth in the region. The APAC event management software market is expected to grow to USD 2.48 BN by 2022 at a CAGR of 9.31% during the forecast period (2016-2022).
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Event Management Software Market Competitive Analysis:
Highly competitive by nature, the global event management software market appears to be fragmented due to the presence of many players. Key strategies traced from the analysis of recent developments of the market players include agreement & partnership, acquisition expansion, and product launch.
These key players strive to deliver comprehensive event management platforms with adept technology and features that can enable their clients to organize and execute world-class events. To stay at the forefront of the market competition these players emphasis on calculated technology purchases and organic product development.
Industry/ Innovation/ Related News:
November 21, 2018 – Streampoint Solutions Inc. (Canada), a leading provider of event management software for the conference, trade show and special events announced launching of a new event registration functionality in the form of an integration with word-of-mouth automation platform with InGo’s social media solution that will enhance the registration process for event managers. Streampoint and InGo will work together to grow the business, attracting new attendees and reveal new opportunities for growth.
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Intended Audience:
- HPC Hardware Vendors
- HPC Software Vendors
- HPC Service Solution Vendors
- HPC Service Vendors
- Network and Systems Integrators
- Research Organization
- Software Providers
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