Chicago, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The global Event Management Software Market size is expected to grow from $7.0 billion in 2021 to $14.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period, according to a new report by MarketsandMarkets™.
The Event Management Software Market is fuelled by the increase in demand to capture actionable business insights from events. With the growing competition in the global market, marketers are continually striving to harness data for actionable insights. The event management software enables marketers to leverage the benefits of real-time data for extracting actionable business insights from events required to drive organizational growth. It also helps organizations capture and analyzes attendees’ behavior, which helps them make effective business decisions.
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301 - Tables
57- Figures
266 - Pages
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Scope of the Report:
| Report Metrics | Details |
| Market Size Valued in 2021 | $7.0 billion |
| Revenue Forecast Size Value in 2026 | $14.1 billion |
| Growth Rate | 14.9% CAGR |
| Market Segmentation | Component, Deployment Mode, Organization Size, End User, and Region |
| Market size available for years | 2017-2026 |
| Base year considered | 2020 |
| Forecast period | 2021-2026 |
| Forecast units | Value (USD Million) |
| Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Key Players | Cvent(US), Aventri(US), Eventbrite(US), Ungerboeck(US), Hopin (UK), XING Events (Germany), Bizzabo (US), Certain (US), RainFocus (US), ACTIVE Network (US), Eventzilla (US), Meeting Evolution (US), EventMobi (Canada), Zoho (India), Regpack (US), EventBooking (US), Bitrix24 (US), Arlo (UK), webMOBI (US), Tripleseat (US), Hubilo (US), Circa (US), Hubb (US), Accelevents (US), Glue Up (US), idloom (Belgium), Eventdex (US) and many more. |
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Accelerated adoption of virtual events due to COVID-19 to drive demand for global Event Management Software market. Though the COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has also offered several opportunities for event management solution vendors to expand their businesses across enterprises with the adoption of virtual events in lockdown. The COVID-19 pandemic forced the event industry to stop and make noticeable changes in business operations. Virtual conferences and events are being adopted at a faster pace as they have kept events going during the pandemic.
In September 2021, Certain launched Touchpoint Stream which would capture attendee engagement data through features such as live polling, surveys, chat, gamification, and discussion boards. This data would be used to deliver a truly interactive experiences for virtual and hybrid event attendees.
By Component, the Software segment market is estimated to account for a higher market share in 2021. The Software segment is further divided into event planning software, event marketing software, analytics and reporting software, visitor management software, content management software, onsite technology, and others (resource scheduling software and catering software).
Among the Services, the Managed Services sub-segment is expected to have the higher CAGR growth during the forecast period. Managed services help organizations in outsourcing their day-to-day operations for maintaining their existing network systems. The managed services segment has gained a lot of traction over the years, as MSPs take care of the client’s specific IT infrastructure over a period, according to Service-Level Agreements (SLAs).
Under Deployment Mode, The on-premises deployment type refers to the installation of the event management software on the premises of an organization rather than at a remote facility. On-premises event management software delivers better performance than its cloud-based counterpart as it does not share its server with any other entity. Its servers are located within its enterprise network.
Top Trends in global Event Management Software Market:
- Hybrid and Virtual Event Solutions: The COVID-19 pandemic notably accelerated the adoption of digital and hybrid events. Event administration software program companies have been focusing on improving their structures to cater to digital match needs, inclusive of elements for stay streaming, networking, digital exhibitor booths, and engagement tools.
- Data Analytics and Insights: Event organizers have been an increasing number of fascinated in leveraging records analytics to obtain insights into attendee behavior, preferences, and engagement patterns. Event administration software program with sturdy analytics abilities was once gaining traction as it allowed organizers to make knowledgeable selections and enhance tournament outcomes.
- Personalization and Engagement: Attendee engagement remained a pinnacle priority. Event administration systems had been incorporating AI-driven personalization methods to tailor tournament experiences to man or woman preferences. This blanketed personalised agendas, recommendations, and networking opportunities.
- Sustainability and Green Events: Environmental worries have been using the demand for greater sustainable tournament practices. Event administration software program was once being used to tune and limit carbon footprints, decrease waste, and optimize aid utilization.
- Integration with Other Tools: Event organizers have been searching for software program options that seamlessly built-in with different equipment they use, such as CRM systems, advertising automation platforms, and ticketing solutions. This integration helped create a extra streamlined and environment friendly match administration process.
- Mobile-Friendly Solutions: With the developing reliance on smartphones and cell devices, match administration software program carriers had been focusing on handing over mobile-friendly solutions. Mobile apps allowed attendees to get admission to match information, schedules, and networking elements on the go.
- Enhanced Networking Opportunities: Facilitating networking amongst attendees, exhibitors, and sponsors grew to be a fundamental issue of tournament administration software. Platforms had been incorporating aspects like AI-powered matchmaking, chatbots, and digital assembly scheduling to decorate networking opportunities.
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Key Industry Development in global Event Management Software Market:
- Virtual and Hybrid Event Solutions: The COVID-19 pandemic compelled the activities enterprise to adapt rapidly. Event administration software program vendors developed and sophisticated digital and hybrid tournament options to cater to the new demand for on-line and blended events.
- Mergers and Acquisitions: The tournament administration software program market noticed quite a few mergers and acquisitions aimed at increasing skills and market reach. Larger players obtained smaller ones to beautify their science choices and patron base.
- Partnerships with Streaming Platforms: Many match administration software program corporations partnered with famous streaming systems to allow seamless integration of stay streaming into digital events. This partnership allowed organizers to attain a wider target market and enhance the digital tournament experience.
- AI-Powered Engagement Features: Industry gamers commenced incorporating synthetic Genius to decorate attendee engagement. AI-driven matchmaking, customized content material recommendations, and chatbots have been built-in to make events greater interactive and personalized.
- Sustainability Initiatives: Environmental worries led to the integration of sustainability facets inside match administration software. This blanketed equipment to measure and decrease carbon footprints, manipulate waste, and promote eco-friendly practices at some point of events.
- Enhanced Analytics and Reporting: The demand for data-driven decision-making triggered the improvement of superior analytics and reporting elements in match administration software. Organizers sought insights into attendee behavior, match success metrics, and ROI measurement.
- Mobile App Enhancements: Mobile apps grew to become a imperative thing of match administration software. Developers labored on enhancing cellular app interfaces, making them greater common and feature-rich for each attendees and organizers.
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