Global Event Management Software Market - 2023-2030

Global Event Management Software Market - 2023-2030

Global Event Management Software Market reached US$ 7.1 billion in 2022 and is expected to reach US$ 14.8 billion by 2030, growing with a CAGR of 14.6% during the forecast period 2023-2030.

As the complexity of events is continuously growing, so there is rising demand for event planning and management process. Event management software offers automation tools that automate various task like registration, ticketing, scheduling and communication that helps event organizer to save time and resources. According to Zippia career experts, there are 44,554 event managers are currently employed in U.S.

The rapid advancement in the growth of technology which led to increased development of event management solutions. Cloud-based platforms such as mobile apps, virtual reality and augmented reality these technologies transformed the way events that are planned, executed and experienced these factors boost the growth of the market.

North America is among the growing regions in the global event management software market covering more than 1/3rd of the market due to the rapid urbanization, population growth and technological advancement that drives rising virtual event demands. Event management software helps business plan and executes event more effectively.

Dynamics

Rise in Adoption of Virtual Platforms

Virtual platforms enable events to reach a global audience without geographical constraints. Attendees from different parts of the country can participate and broaden the event's reach and impact. Hosting a virtual event is often cost-effective without organizing the physical events, as there is no extra expense related to venue rentals, travel, accommodations and other logistics aspects.

For instance, on 4 August 2023, EventMobi, a Toronto-based event management software provider announced its acquisition of Run The World, an online event platform backed by Andreessen Horowitz. The acquisition is aimed at enabling EventMobi to enhance its offerings, expand its reach and strengthen its position as an industry leader in diverse event formats.

Rising Growth of Virtual Event Promotions

The escalating trend towards virtual promotions has significantly contributed to the growth of event management software. As businesses increasingly embrace virtual events and promotions, the demand for advanced software solutions to streamline and enhance these experiences has surged and this shift towards virtual promotions not only expanded the user base for event management software but has also underscored its evolving landscape of modern event planning and promotion.

The allure of affordability and easily measurable return on investment has enhanced the appeal of virtual events, prompting a substantial number of organizers to embrace this format. According to research from Kaltura company revealed that 40% of marketers are strategizing virtual events for 2023, with 18% opting for hybrid events.

Collaboration between Companies Boosts the Growth of the Market

Collaboration allows companies to integrate their specialized solutions and creates comprehensive platforms that offer a wide range of tools and features and this enables event organizers to access a complete suite of functionalities from a single source, streamlining their workflow and enhancing the overall event planning and execution process. By combining their strengths, companies develop technologies and these innovations fosters the exchange of ideas.

For instance, on 21 June 2023, Xtag, a prominent global player in event management and onsite registration solutions, announced a strategic partnership with Zoom Events, a leading platform for virtual and hybrid events and this collaboration aims to offer comprehensive event solutions covering the full spectrum of hybrid and in-person events processes, this collaboration empowers Zoom Events to present event organizers with a unified solution that seamlessly incorporates event planning.

User Interface Ad-ability and System Compatibility

Event management software requires new users to learn new tools and interfaces and this could be challenging specifically for individuals whose backgrounds are not in tech may result in steeper learning during the initial stage of implementation, while many event management software solutions offer various customization options that limit into specific software, so user finds certain aspects of customizations that is restricted by software capabilities.

Like any technology, event management software can experience technical glitches, downtime or compatibility issues and these technical challenges can disrupt event planning and execution if not promptly addressed. Compatibility problems can also arise when event management software does not integrate smoothly with other organizers' tools or systems, this can lead to data discrepancies, inefficiencies or errors in information transfer.

Segment Analysis

The global event management software market is segmented based on component, deployment, organization size, end-user and region.

Software Solutions Increase Demand for the Market

The software solutions segment holds a major share of around 1/3rd of the global event management software market. Software solutions offer a personalized registration experience and provide easy access to event information through mobile apps, these features enhance the overall experience of attendees that leads to had higher satisfaction rates and increased attendee. Event management software collects and stores data about attendees which can be used later by companies for advertising their market.

For instance, on 24 May 2023, Cvent, a prominent provider of technology solutions for meetings, events and hospitality, introduced its AI Writing Assistant software and this cutting-edge tool harnesses the capabilities of generative AI technology within the Cvent platform to facilitate the creation of high-quality content efficiently. By using natural language processing, the AI Writing Assistant aids event professionals and marketers in generating compelling event content for emails, websites, session descriptions and more.

Geographical Penetration

The Growing Adoption of Virtual and Hybrid Events in Asia-Pacific

Asia-Pacific is among the growing regions in the global event management software market covering around 1/4th of the market. The COVID-19 pandemic accelerated the adoption of virtual and hybrid events in Asia-Pacific. Event management software plays a crucial role in facilitating the organization of such events by providing features like online registration, virtual networking, live streaming and interactive sessions. Event management companies are increasing their focus on providing enhanced experience to users.

For instance, on 1 August 2022, Vela Software Group, operating through its subsidiary Vela Asia Pacific, recently completed the acquisition of MemNet assets from OMNI Software Solutions and this acquisition has led to the establishment of Memnet Solutions Pty Ltd. MemNet, a comprehensive membership and event management platform, serves associations, charities, unions and clubs.

Competitive Landscape

The major global players include Cvent, Aventri, Eventbrite, Ungerboeck, XING Events, Hopin, Bizzabo, RainFocus, ACTIVE Network and EventMobi.

COVID-19 Impact Analysis

The demand for virtual event management tools, including registration platforms, live streaming capabilities, virtual exhibitor spaces and attendee engagement features, surged as event organizers sought solutions to replicate physical events in a digital format. The pandemic forces event management companies to rethink on the event platforms and also leads to organizing hybrid events.

For instance, on 15 March 2023, amid the COVID-19 pandemic, Hubilo, an event management platform that had previously generated Rs 8 crore in revenue, faced a sudden halt in its income due to the cessation of physical events. Hubilo's existing commitment to a project provided a silver lining. The company underwent a successful transition from physical to virtual event management, preserving its operations and subsequently planning the launch of a 2.0 version.

AI Impact

AI algorithms can analyze attendee preferences and behaviors to provide personalized event recommendations and experiences and this includes suggesting relevant sessions, speakers and networking opportunities tailored to individual interests, improving attendee engagement. AI-powered chatbots and virtual assistance handles inquiries and registration of events and also provide information related to events.

For instance, on 9 May 2023, Eventbrite, a prominent event management and ticketing website, unveiled new tools powered by GPT technology to simplify and expedite various aspects of event planning, these tools will be rolled out this month and are designed to assist event creators in tasks such as crafting event pages, email campaigns and social media ads. According to Julia Hartz, the co-founder of Eventbrite, the corporation of AI into their platform aligns their commitment and supports event creators and attendees.

AI can identify unusual patterns and behaviors that may indicate security threats or fraudulent activities, enhancing event security and protecting both attendees and organizers. Facial recognition technology, driven by AI, can quickly scan and match attendees against watchlists or databases of known individuals with criminal records or security concerns and this helps identify unauthorized individuals attempting to enter the event.

Russia- Ukraine War Impact

The geopolitical tension rise between Russia and Ukraine led to an increase in broader economic and political uncertainties, these uncertainties impact global markets that include the technologies sector which potentially affects investments and business decisions and customer preferences. Trade disruptions caused by conflicts impacts the supply chain management system globally.

Due to travel restrictions and safety concerns, there could be an increased demand for virtual events, webinars and online conferences and this might prompt event management software providers to enhance their virtual event capabilities and offer features tailored for such events. As travel becomes more challenging so event organizers and participants rely on remote collaboration tools.

By Component
* Software
* Services

By Deployment
* Cloud
* On-Premises

By Organization Size
* Small and Medium-Sized Enterprises
* Large Enterprises

By End-User
* Event Organizer and Planner
* Corporate
* Government
* Education
* Others

By Region
* North America
U.S.
Canada
Mexico
* Europe
Germany
UK
France
Italy
Russia
Rest of Europe
* South America
Brazil
Argentina
Rest of South America
* Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
* Middle East and Africa

Key Developments
* On 2 May 2023, SI Tickets, the ticketing site associated with Sports Illustrated, introduced ""Box Office by SI Tickets,"" a self-service event management and primary ticketing solution developed in collaboration with ConsenSys and powered by Polygon's blockchain technology and this platform offers NFT ticket solutions for events of any size, allowing event hosts to engage with attendees through features like highlights, collectibles, exclusive offers and loyalty benefits.
* On 8 June 2023, Crisis24, a prominent global risk management company and part of GardaWorld introduced an advanced mass notification feature integrated within TopoONE, its critical event management platform for security operations centers (GSOC), this enhanced mass notification module offers seamless access to multiple communication channels, facilitating swift escalations and actions in response to critical events.
* On 22 January 2021, RefTech, an event software company, introduced MemberReference, a new software designed to simplify membership management for membership organizations. The software is based on RefTech's EventReference event management software and offers tools for administration and reporting.

Why Purchase the Report?
* To visualize the global event management software market segmentation based on component, deployment, organization size, end-user and region, as well as understand key commercial assets and players.
* Identify commercial opportunities by analyzing trends and co-development.
* Excel data sheet with numerous data points of event management software market-level with all segments.
* PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
* Product mapping available as Excel consisting of key products of all the major players.

The global event management software market report would provide approximately 69 tables, 66 figures and 201 Pages.

Target Audience 2023
* Manufacturers/ Buyers
* Industry Investors/Investment Bankers
* Research Professionals
* Emerging Companies