London, Nov. 22, 2022 (GLOBE NEWSWIRE) -- A newly released market intelligence report of Fairfield Market Research takes a deep dive into the worldwide market for event management software. Global event management software market size was registered around US$5.6 Bn in the year 2019. According to the report findings, the market value of event management software is poised to experience 12.9% rise during 2022 – 2029, reaching the revenue of around US$18.4 Bn toward the end of 2029. The report also provides the most significant insights into some of the leading event management software companies to reveal the current and anticipated strategic developments in the global landscape. The rate of adopting event management software for small businesses has been consistently on the rise over the recent past. The market has thus been witnessing a notable rise in demand for event management software projects worldwide. Booming inclination toward CRM event management software that enables improved, fruitful customer relationship management is also expected to heavily contribute toward the growth of event management software market.
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Key Research Insights
- Demand for software services dominant with over 70% market share
- North America, Europe, and Asia Pacific collectively capture more than 80% share in the market valuation
- Event planning, event registration and ticketing, and venue management remain the most sought-after areas of application. Professional and managed service also continue to witness demand surge
Insights into Segmental Analysis
Worldwide demand for software services, currently accounting for more than 70% market share, remains on an uptrend, says the report. This has been attributed to the steadily rising traction for managed professional service providers for successful event organization that also achieves mitigation of security concerns. The report states that with more organizations seeking cost optimization while enjoying the benefits of event management, demand for vendors providing event management services will climb up. On the other hand, as an increasing number of organizations tend to showcase preference for virtual video conferencing technology, the report anticipates a constant surge in demand for event management software solutions in global market. The software solutions segment is expected to represent more than a fourth of the total market valuation, attributing to prominent uptake by business enterprises, and educational institutions. In terms of the deployment mode, cloud remains the dominant segment owing to its cost benefit. The report however also highlights strong indications of mounting demand for on-premises deployment of event management software on account of its transparency, and security.
Key Report Highlights
- Critical urgency that arose overnight to build a remote and hybrid workforce has played out as a significant catalyst for event management software market growth over the recent past
- Increasing realization about the colossal cost savings with cloud event management is expected to create strong tailwinds for market growth
- Several vendors in event management software space are likely to emphasize subscription-based model
Insights into Regional Analysis
North America continues to be the top event management software market and will most likely register around 12.5% growth in revenue through the end of 2029. The region secured the largest market share in 2020 and will continue to surge ahead of others on account of the strong presence of industry leaders like Aventri Inc., Glue Up, and Bizzabo. The exponentially growing number of small and medium enterprises across the region, as well as several private and public events in the US alone will also expected to complement the expansion of event management software market in North America. Whereas the event management software market revenue in Asia Pacific is anticipated to witness the fastest growth during the period of projection. Led by China, and India, the market here will largely benefit from the thriving tech industry, growing enterprise world, and sustained abundance of skilled professionals.
Key Vendors in Event Management Software Market
Besides IBM, Oracle, and Google, the report has covered several other prominent brands as well, for detailed strategic profiling, and competition analysis. Microsoft, HCL, Cvent, Aventri, Eventbrite, Ungerboeck, Hopin, Certain, Bizzabo, ACTIVE Network, EventBooking, and Airmeet are also some of the key vendors in global event management software market.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2019 | US$5.6 Bn | |
| Estimated Market Size in 2029 | US$18.4 Bn | |
| CAGR | 12.9% | |
| Key Players | IBM, Oracle, Google, HCL, Microsoft, Cvent, Aventri, Eventbrite, Ungerboeck, Hopin, Certain, Bizzabo, ACTIVE Network, EventBooking, Airmeet | |
Market Segmentation
- Components Coverage
- Solutions
- Services
Deployment Coverage
- Cloud
- On-premises
Application Coverage
- Event Planning Software
- Venue Management Software
- Event Registration And Ticketing Software
- Event Marketing Software
- Analytics And Reporting Software
- Onsite Technology
- Content Management Software
- Visitor Management Software
- Managed Services
- Professional Services
- Others
Org Size Coverage
- Small and Medium-sized Enterprises
- Large Enterprises
End Use Coverage
- Event Organizers and Planners
- Corporate
- Government
- Education
- Other End User
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
Leading Companies
- Cvent
- Aventri
- Eventbrite
- Ungerboeck
- Hopin
- Certain
- Bizzabo
- ACTIVE Network
- EventBooking
- Airmeet
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Component-wise Analysis
- Application-wise Analysis
- Deployment-wise Analysis
- Organization Size-wise Analysis
- End Use-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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