Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Event Management Software Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global event management software market continues to exhibit unprecedented growth, propelled by technological innovation and evolving consumer behaviors. This study on this thriving sector illuminates the current market landscape and forecasts promising advancements through 2028.
The Global Event Management Software Market, valued at USD 5.8 billion back in 2022, is projected to reach USD 12.23 billion by 2028, showcasing a CAGR of 12.3%.
Technological Evolution and Elevated Consumer Expectations Reshape Event Management Software Industry
As the global economy adjusts to post-pandemic realities, the event management software industry is embracing transformative developments. A recent in-depth analysis reveals that North America leads the way, accounting for a substantial percentage of the market share in 2022. Meanwhile, innovative technologies such as AI, VR, and cloud-based solutions are significantly enhancing event experiences.
Key Drivers of Market Expansion
Event management software solutions are at the forefront, offering seamless integration, real-time engagement, and enhanced attendee experiences. Vital growth drivers include:
- Technological Advancements: Leveraging AI, AR, and VR, event organizers are now able to deliver more engaging and personalized event experiences. Cloud-based platforms provide additional scalability and accessibility.
- Consumer Behavior: Today's consumers demand highly customized event experiences and the convenience of mobile access, pivoting the market towards more sophisticated, data-driven software solutions.
Overcoming Industry Challenges
Despite the optimistic trajectory, the event management software market encounters its share of challenges, notably in data security and resistance to digital transitions. Continued investment in data protection measures and flexible software solutions can circumvent such hurdles, ensuring sustained momentum in the industry.
Regional Market Insights and Forecast
The current analysis underscores North America's dominance, with the region showing significant market adoption across various sectors. Future projections anticipate that event organizers and planners will continue to catalyze software segment growth, with cloud-based deployment taking center stage.
Segmentation and Comprehensive Insights on Event Management Software Market
The study delves into granular details of the market, offering insights segmented by component, deployment, application, and region.
Key Software Functions Driving Demand:
- Software solutions with nuanced capabilities like logistical management and vendor management are spearheading growth within the segment, further augmented by the surge in hybrid and virtual event formats.
- Cloud-based event management software captures the largest market share, attributed to its operational flexibility and consistent performance.
Final Thoughts on Market Dynamics
The event management software market is witnessing a surge in demand, fueled by technological innovation and changing consumer preferences. The emergence of new trends, such as AI recommendation systems and the integration of sustainability practices, will continue shaping the future of event planning and management.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 188 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $5.8 Billion |
| Forecasted Market Value (USD) by 2028 | $12.23 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Active Network LLC
- Arlo
- Stova
- Bitrix24
- Eventdex.com
- Hopin
- webMOBI
- Whova
- Certain, Inc.
- Cvent, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r7nsdg
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
