$4550
[Research Report] The event management platform market was valued at US$ 30,628.23 million in 2022 and is projected to reach US$ 59,068 million by 2028. It is expected to grow at a CAGR of 11.6% from 2022 to 2028.
Event management is the part of project management that includes the creation and development of significant events, festivals, conferences, corporate parties, weddings, ceremonies, and convocations. It 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.
Several factors, such as the growing inclination toward global virtual events and a surge in industrial webinars, have been boosting the event management platform market. Further, the gamification of events to engage a larger audience and the emergence of advanced technologies are among the factors contributing to the market growth. However, the problems associated with event management platforms are restraining the market.
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Event Management Platform Market: Strategic Insights
Market Size Value in US$ 30,628.23 Million in 2022 Market Size Value by US$ 59,068.00 Million by 2028 Growth rate CAGR of 11.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Event Management Platform Market: Strategic Insights
| Market Size Value in | US$ 30,628.23 Million in 2022 |
| Market Size Value by | US$ 59,068.00 Million by 2028 |
| Growth rate | CAGR of 11.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Event Management Platform Market Growth
Before the emergence of the COVID-19 pandemic, event management platform requirements were widely used due to the growing number of global events. An upsurge in the frequency of corporate meetings, conferences, inductions, music concerts, exhibitions, and sports events majorly boosts the growth of the global events industry. Furthermore, deploying best-in-class technologies to handle the entire event propels the industry's growth. Moreover, hybrid events are a key driver of the global events market. This further supports the growth of the event management platform market.
In 2021 and 2022, the growth of the event management platform market 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 & 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 during the forecast period due to the increase in virtual events.
Lucrative Regions in Event Management Platform Market
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Market Insights– Event Management Platform Market
Growing Inclination Toward Virtual Events
Virtual congresses, events, and conferences are crucial economic factors for the event industry; however, such events comprise huge expenditure and long travel journeys for hosts and audiences/attendees. Therefore, virtual events, fairs, and online conferences are gaining popularity as they are beneficial, ecological-friendly, and cost-efficient alternatives. The factors attributing to the growth of virtual event includes rapid urbanization and a high inclination toward using virtual infrastructure, products, and services by event companies. For purposes such as event marketing, event outsourcing and analytics, and content and social media development, huge adoption of virtual events is witnessed among small and large-scale organizations.
Virtual events have gained popularity after the onset of the COVID-19 outbreak. Due to lockdowns, organizations that planned to conduct virtual events doubled in 2020. Thus, the COVID-19 pandemic is boosting the adoption of event management platforms.
The event management platform is gaining high momentum to manage virtual events efficiently and interact with attendees. Live interaction in virtual events is guaranteed through live chats for public and private communication. Further, virtual events are utilized to provide information and answer individual questions through live chats. There is also an integration of different interactive tools, such as attendee polls, forums, one-on-one or small group networking, and live questions and answers, which helps improve event efficiency. These features of the event management platform are driving the event management platform market growth.
Component-based Insights
Based on component, the event management platform market is segmented into hardware (physical and hybrid check-in), software, and services. The global event management platform market is dominated by the software segment in 2021, which accounted for 76.1% and is expected to lead the market contributing 75.0% of the overall market share in 2028.
Deployment-based Insights
Based on deployment, the global event management platform market is segmented into on premise and cloud-based. The cloud-based segment dominated the global event management platform market in 2021, which accounted for 74.6% and is expected to lead the market, contributing 78.4% of the overall market share in 2028.
Application-based Insights
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.
End User-based Insights
Based on end user, the event management platform market is segmented into trade show organizers, event management agencies, corporates, academics, organizations, and others. The global event management platform market is dominated by the event management agencies segment in 2021, which accounted for 32.8% and is expected to capture a decent share of 36.1% in 2028.
Players operating in the well-competition event management platform market are mainly focused on developing advanced and efficient products.
- In 2022, ACTIVE Network and accesso have entered a strategic partnership to extend the reach of the company's solutions to the ski industry.
- In 2022, Bigmarker announced their virtual and hybrid event hosting updates, including enhanced RTMP streaming capacities, live badge scanner app, blocking of certain emails, restricted access, and much more.
Event Management Platform Market – Company Profiles
- ACTIVE Network, LLC
- BigMarker
- Aventri, Inc.
- Bizzabo
- Swapcard
- Goldcast
- WebEx Events
- PheedLoop Inc.
- Zuddl
- Airmeet
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Growing inclination toward virtual events and surge in industrial webinars are driving the growth of the event management platform market.
Emergence of advanced technologies is presenting significant potential for the future growth of the event management platform market players.
Based on component, the market is segmented into hardware, software, and services. The software segment led the event management platform market with the largest market share in 2021.
APAC is the fastest growing region in the global event management platform market.
The incremental growth of the event management platform market during the forecast period is US$ 28,774.76 million.
The major five companies in the event management platform market include Cvent; ON24; Hopin; Eventbrite; and XING Events.
The List of Companies - Event Management Platform Market
- ACTIVE NETWORK, LLC
- AIRMEET
- AVENTRI, INC.
- BIGMARKER
- BIZZABO, INC.
- GOLDCAST
- PHEEDLOOP
- SOCIO
- SWAPCARD
- ZUDDL
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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