Event Management Software Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Event Management Software Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

The intensity of urgency to create a virtual/remote and hybrid workforce across industries is predominantly heightening the prospects of growth for event management software market. As suggested by a newly released report by Fairfield Market Research, global event management software market that recorded the revenue worth US$5.6 Bn in 2019 will most likely reach the valuation of US$18.4 Bn by the end of 2029. Rocketing adoption rate across small businesses is expected to act as a major driving force for market growth, says the report.

The study also states that as a growing number of companies seek improved customer relationship management, they are more likely to prefer CRM event management software, which uplifts the growth outlook of global event management software market. The market is poised to witness around 12.9% rise in revenue during the period of projection. The report has covered industry behemoths like IBM, Google, Oracle, Microsoft, and HCL under its strategic competition analysis section. With this, the report intends to facilitate the entry of potential market participants.

Key Insights and Trends Across Global Event Management Software Market

Global event management software market size will expand more than triple in revenue between 2019 and 2029

Software services remain in demand, accounting for more than 70% of total demand

North America will continue to reign supreme in global landscape, estimated to experience around 12.5% growth in revenue by 2029

The three leading markets, i.e., North America, Europe, and Asia Pacific together contribute the revenue share of over 80%

Greater emphasis on subscription-based models is likely to improve the scope of growth for vendors in event management software market

Professional and Managed Services Continue to See Sustained Demand, Upholding Event Management Software Market

Market analysis by application reveals some of the most sought-after segments, including event planning, venue management, and event registration and ticketing. A notable surge is also expected in demand for professional and managed services, which is steering the demand dynamics for software services that currently account for more than 70% share in the event management software market revenue.

Cloud-based Deployment Most Preferred in Event Management Software Market

On the other hand, demand for event management software solutions continues to surge among business enterprises, and educational institutions and represents around 25% value share in the market. The report clearly attributes this to the spiralling uptake of virtual video conferencing technology across industries. Similarly, prospects of event management service providers also look promising. Deployment-wise analysis of event management software market shows dominance of cloud segment that comes with a colossal cost benefit against on-premises deployment. The latter however is also gaining traction for the security that it promises along with transparency.

North America Continues to Reign Supreme, Opportunity Abound in Asia Pacific

Estimated for nearly 12.5% growth in revenue through the end of 2029, North America’s event management software market is likely to stay ahead of the curve. The report indicates strong presence of some the global industry leaders in the region that primarily keep the market afloat. The swelling SME sector further facilitate the expansion of event management software market here. The US market for event management software is especially thriving on the back of several public and private events. The report further points to the fastest growth projections for Asia Pacific. The flourishing tech industry, expanding enterprise sector, and presence of ample skilled professionals will continue to underpin the growth of event management software market here.

Key Vendors in Event Management Software Market

While IBM, Oracle, and Google remain the leaders holding mammoth shares in global event management software market, the other significant players included in the report are Microsoft, HCL, Cvent, Aventri Inc., Glue Up, Bizzabo, Eventbrite, Ungerboeck, Hopin, Certain, Bizzabo, ACTIVE Network, EventBooking, and Airmeet.