Market Excerpt
The global event management software market was valued at US$ 6.43 Bn in 2017 and expected to expand at a CAGR of 11.2% during the forecast period from 2018 to 2026. With the myriad of trade shows, conferences, meetings, and social events held worldwide, event management has grown into a multi-billion dollar industry. Given the fact that millions of events are hosted every year, event management has become one of the fastest growing businesses today. The multi-billion event management industry has become ‘Mecca’ of marketers. With the event management industry evolving at such an astounding pace, the challenges for event planners are rising as well. Event management software enable planners to carryout entire planning of the event efficiently using a single platform. With advancements in technology, advanced event management solutions are fast replacing conventional ways of communication and data transmission, thereby leading to a change in the event management landscape. The use of these solutions have brought down the costs of events dramatically. For instance, according to the survey conducted by Credence Research, Inc., businesses today are able to simplify event-managing processes using these solutions by reducing costs by around 20% - 30% and improving attendance up to 20%.
Cloud-based Solutions to Garner Significant Share by 2026
In 2017, on-premise solutions garnered highest value share in the global event management software market. On-premise event management software solutions accounted for around 60% of the global market value in the same year. Although several business enterprises and third party event planners are now shifting towards cloud-based solutions, established and large businesses are still heavily reliant on on-premise installations owing to control offered over system security and data. Thus, on-premise solutions are expected to witness steady growth during the forecast period from 2018 to 2026. Benefits offered in terms of cost, maintenance, and automated software updates will aid adoption of cloud-based solutions during the forecast period from 2018 to 2026.
North America to Continue Dominance; Asia Pacific to Register Fastest Growth
In 2017, North America was the largest contributor to the global event management software market worldwide followed by Europe and Asia Pacific respectively. North America accounted for over 35% of the total market value in the same year. The U.S. represents the largest event management software market in North America and worldwide. This supremacy is majorly because of factors including acceptance to technological innovations and greater expenditure by enterprises on effective planning and event hosting. The trend shall extend and North America will continue being the largest event management software market worldwide by 2026. Asia Pacific is projected to register strong growth during the forecast period from 2018 to 2026. An increase in the number of trade shows, corporate meetings, and summits hosted in emerging economies such as China and India will drive demand for event management software solutions in Asia Pacific in the coming years.
Event Registration & Ticketing Software to Witness Growing Preference among Event Planners
In 2017, Event Planning software accounted for majority of the value share worldwide. Its ability to enable planners effectively manage the event by differentiating between different operational facets and maintaining customer database for payment checks and future reference has augmented its adoption. On the other hand, Event Registration and Ticketing software will witness strong growth during the forecast period from 2018 to 2026. With evolving digital habits of consumers, business enterprises across the globe are fast realizing benefits of ensuring online registrations of participants. Event Registration and Ticketing provides the flexibility of offering customized prices based on registration date, coupons, and bulk registration, thereby improving the overall registrations.
Key companies profiled in the research study include EventBrite Inc., Xing Events Cvent, Inc., SocialTables, EventZilla, Bizzabo Inc., Certain, Inc., Zerista, Gather Technologies Inc., Ungerboeck Software International, etouches Inc., and Zoho Corporation among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Event Management Software market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
