Event Management Platform Market is expected to reach US$ 30,628.23 Million by 2028

Published Date: 30 Jun 2022

Gamification of Events to Engage a Larger Audience to Create Lucrative Opportunities for Event Management Platform Market during 2022–2028

According to our latest market study, titled “Event Management Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Application, and End User,” the market is projected to reach US$ 59,068 million by 2028 from US$ 30,628.23 million in 2022. It is expected to grow at a CAGR of 11.6% from 2022 to 2028.

Gamification is the process of creating game-like systems around content by creating teams, rewarding points for tasks, tracking completion, and many more. Organizations across various industries are focusing on gamification to create high-quality experiences through events. Event organizers are using gamification as a tool to boost the engagement of attendees. Event gamification is the creation of game mechanics that provides attendees an edge by offering a unique event experience. Event gamification enables organizers to attain event goals and create a fun-filled memorable experience for event attendees. It works based on accessing attendees' emotions and offers various benefits, such as creating a relaxed atmosphere for attendees, boosting attendees' confidence, making communication easy and effective, and generating a common purpose.

Event organizers use various gamification methods, including social media engagement, networking games, question and answer engagement, and teamwork games. Any event management platform can perform event gamification. For instance, Glue Up offers an event gamification tool in their event management software.

Event gamification is the creation of game mechanics that gives the company an edge by offering a unique virtual event experience. Thus, the event gamification is expected to create opportunities for the event management platform market players with the rising number of global events.

Based on component, the event management platform market is segmented into hardware, software, and services. The software segment led the market with the largest market share in 2021. Based on deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment led the market with a larger market share in 2021. Based on application, the event management platform market is segmented into event planning, event registration and ticketing, event marketing, content management, networking management, analytics and reporting, audience engagement and communication, visitor management, venue management, virtual lobby management, and others. The event planning segment led the market with the largest market share in 2021. Based on end user, the market is segmented into trade show organizers, event management agencies, corporates, academics, organizations, and others. The event management agencies segment led the event management platform market with the largest market share in 2021. By geography, the event management platform market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America (SAM). The Europe region led the event management platform market with the largest market share in 2021.

Event management is the part of project management that includes conceptualizing and organizing significant events, festivals, conferences, corporate parties, weddings, ceremonies, and convocations. Event management involves studying the brand, target audience, and technical aspects before launching an event, including huge events, such as the Olympics, and small events, such as corporate meetings.

For making occasions/events successful, the well-planned arrangement of occasion/event should be organized, advertising of occasion, a regular meeting of the board, good participant board, and sound administration of occasion is required. Occasions/events require several days or months to prepare for such an experience because booking lodgings and rooms and advertising occasions are critical administrative work. The event management platform reduces the time taken by the manual process, simplifies all operations in event management, and improves professionalism and overall experience.

Impact of COVID-19 Pandemic on Global Event Management Platform Market

Before the emergence of the COVID-19 pandemic, event management platforms were widely used due to the rising number of global events. The continuous rise in the frequency of corporate meetings, conferences, inductions, music concerts, exhibitions, and sports events substantially boosted the global event industry before the pandemic. The deployment of best-in-class technologies to handle the entire event propelled the industry's growth. The advent of hybrid events also aided the global events industry, supporting the event management platform market.

In 2020, the COVID-19 pandemic negatively impacted the event management platform market growth due to the cancelation of many events globally. The global live events industry lost over US$ 30 billion that year due to the pandemic, including US$ 9.7 billion at the box office, according to the year-end report by the live entertainment industry trade publication Pollstar.

Furthermore, the rest of the revenue loss was due to unreported events and ancillary revenues, including sponsorships, ticketing, concessions, merchandise, transportation, restaurants, hotels, and other economic activities commonly tied to live events. Thus, the COVID-19 pandemic adversely affected the event management platform market in 2020.

In 2021 and 2022, the event management platform market growth was boosted due to the relaxation of lockdown measures, resumption of music events, accelerated adoption of virtual events, rise in demand to manage large volumes of data, and automation of event management tasks, compelling need to save time and money with real-time data analysis, and an increase in demand to capture actionable business insights from events. The event management platform market growth was hampered due to the cancellation of the global events. However, the market will grow with the increase in virtual events during the forecast period.

ACTIVE Network, LLC; BigMarker; Aventri, Inc.; Bizzabo; Swapcard; Goldcast; WebEx Events; PheedLoop Inc.; Zuddl; and Airmeet are a few key players operating in the global event management platform market. Several other market players have also been analyzed to understand the competitive landscape.

Event Management Platform Market - by Geography, 2021 and 2028 (%)

Event Management Platform Market - by Geography, 2021 and 2028 (%)

Report : Event Management Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Hardware (Physical and Hybrid Check-in), Software, and Services (Professional Services, Managed Services)], Deployment (On Premise and Cloud-based), Application (Event Planning, Event Registration and Ticketing, Event Marketing, Content Management, Networking Management, Analytics and Reporting, Audience Management and Communication, Visitor Management, Venue Management, Virtual Lobby Management, and Others  ), End User (Trade Show Organizers, Event Management Agencies, Corporates, Academics, Organizations, Associations/Non-profitable Trusts/Government Bodies, and Others)


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