Growth Factors of Event Management Software Market
The Event Management Software Market size was valued at USD 6.63 billion in 2023, and the market is now projected tgrow t28.13 USD billion by 2032, exhibiting a CAGR of 11.8% during the forecast period of 2023-2030.
The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Event Management Software Market growth.
This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and alsthe sales and demands have been proliferation and increased its value tgreater extent. Due tthe event industry's ongoing success, event planning firms are concentrating on gathering relevant data from previous events and using that information tinform decisions that will propel organizational growth. Event planners use event data tmonitor social media participation, attendance, and event success. CRM, marketing, sales, and collaboration tools are just a few of the business systems that may be integrated with event management software ttake advantage of the current customer information and produce new leads and conversion rates. In order tplan attendee-focused events and provide an improved event experience, event planners are placing a strong emphasis on utilizing event management systems coupled with big data technologies. These particular growth driving factors have been recorded tattribute the Event Management Software Market Share.
It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. Cloud technology is being adopted by major participants in the market because it allows end users tstore large amounts of data and files in a remote location and access them from any location with internet access. As a result, cloud-based software solutions facilitate communication between event planners and staff, vendors, and customers. Cloud-based solutions assist event planners with creating and maintaining lists of locations, displaying charts or pictures for improved administration, and even reaching out tpossible bespoke events. Event teams may be managed from any location at any time with cloud-based event management software, which can alsefficiently handle and assist booking requests.
Comprehensive Analysis of Event Management Software Market
The segmentation of this particular market has been divided and then further subdivided intvarious categories. Software and services are the twmarket segments based on component. The professional and managed services segments are further subdivided intthe services segment. The market has been divided inttwsegments based on deployment: cloud and on-premises. Small and medium-sized (SMEs) and big organizations make up the twenterprise size categories for the event management software industry. The market for event management software is divided by end-user, including corporate, government, event planners, and educational institutions.
North America holds the largest market over the forecast period, according tthe conclusions based on our research methodology. North American nations with sound economies, like the United States and Canada, are constantly receptive tnew and developing technologies. These nations have alsbeen making consistent investments in cutting-edge technologies in order tobtain dependable and effective services. North American vendors are implementing cutting-edge technology in response tuser demands for improved event management, data analytics, and collaboration and integration capabilities. Both the existence of tiny businesses in the area and the presence of established firms are important variables driving this software's growth."" Collaborations between businesses and event planners are the outcome of the region's increasing need for effective event management software. The region is expected tmaintain a significant proportion during the projected period.
Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Active Network, LLC (U.S.), Arl(U.S.), Aventri, Inc. (U.S.), EventGeek (Mexico), EventMobi (Canada), Regpacks (U.S.), Event Espress(U.S.), Certain Inc. (U.S.), Bizzab(U.S.). EMS Software, LLC. (U.S.), Grenadine Technologies Inc. (Canda), Zerista (U.S.), and Ungerboeck (U.S.).
In January 2022, This particular company has attributed the market growth in terms of revenue and shares system. The innovative solution provider MeetingPlay, which serves in-person, virtual, and hybrid events, partnered with Aventri. The resulting conglomeration of event software companies sought tcombine the distinct strengths of both companies tprovide a complete, all-inclusive solution for events of different sizes.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year - 2018
Forecast Period - 2019-2026
Historical Period - 2015-2017
Unit - Value (USD billion)
Segmentation By Component
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