Global Event Management Software Market Overview
The key driver impacting the event management software market is the growing event industry. The PCMA organization report shows, In 2017, business events brought together around 1.4 billion participants in over 180 countries. North America shows the highest spending at $381 billion. Every major region contributed to the $1.03 trillion in total. Asia brought in $290.9 billion, whereas Western Europe had contributed $266 billion. The growing event industry is anticipated to create more event management software demand in the coming Also, the ever-increasing usage of social media for event marketing is adding growth to the market. For instance, As per the Getstats organization, around 88% of all the brands and companies globally are now marketing through social media. Around, half the people who use social media interact with brands more than once a month. About, 71% of consumers have a pleasing social media service experience with a brand that is probable to propose it to others. Moreover, the growing adoption of automation software in the event management industry contributes to the event management software market growth in the coming years.
According to Value Market Research, the global event management software market size was valued at around USD 7706.5 million in 2020 and is estimated to grow at a CAGR of about 11% during the forecast period 2021 to 2027.
The increase in the number of events in the sports, gaming, and entertainment sectors is estimated to augment event management software needs in the forecast period. However, the complexity of integrating event management software with business systems hampers the market in the long run. Also, the high initial cost associated with event management software negatively impacts the market. The current industry trends, advancements in AR and VR, and rising gamification of events to connect a morevast audience are expected to offer new lucrative market opportunities for the key players.
The event management software market is vast, with many local and global players. The event management software market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The key players studied in the report are Active Network, LLC, Aventri, Inc., Arlo Software Limited, Cvent, Inc., Attendify, Bizzabo, Inc., Event Espresso LLC, Zerista Inc., (Simpleview, LLC.), Aventri, Inc., Event Espresso LLC, Eventbrite, Inc., Cvent, Inc., Eventbrite, Inc., and Grenadine Technologies Inc.
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In this research report, the event management software market is segmented by software, end-user vertical, and region.
Analysis by Software:
By software, the report is categorized into event planning, event marketing, venue & ticket management, analytics and reporting, and other software types. The event planning segment dominates the therapy segment with over 30% share in 2020. It is due to high adoption by event management companies for managing the process to carry out projects such as a meeting, tradeshow, ceremony, convention party, and team-building activity. Moreover, event planning software helps in dealing with setting tentative timelines, budgeting, selection, reservation of the event sites, planning food, coordinating transportation, and obtaining permits, contributing to the event planning segment growth in the forecast period.
Analysis by End-User Vertical:
By end-user vertical, the report is categorized into corporate, government, education, media and entertainment, and other end-user verticals. Media and entertainment dominate the end-user segment with over 45% share in 2020. It is because media and entertainment events are engaged with high revenue movements, such as event management software and analytic tools prove to be extremely beneficial to event planners and organizers. Moreover, several event management companies are planning to make considerable funds in the deployment of software and systems for different events to be designed according to customer demand contributes to the media and entertainment segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global event management software market, the North American region dominates globally with a 30% market share in the forecast period. It is due to the massive adoption of the event management software for athletics events in marathons, educational institutions, film festivals, and several other private events. Moreover, the existence of significant players, together with the presence of new entrants and small enterprises of the event management industry in the region, is contributing to market growth across North America.
Market Segmentation covered in the Report:
By Software
- Event Planning
- Event Marketing
- Venue & Ticket Management
- Analytics and Reporting
- Other
By End-User Vertical
- Corporate
- Government
- Education
- Media and Entertainment
- Other
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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