Event Management Software Market Size, Revenue Forecast 2027

Global Event Management Software Market Size and Share – by Solution Type (Software and Services), Application (Event Planning, Event Marketing, Venue and Ticket Management, Analytics and Reporting, and Others), End-User (Corporate, Government, Education, Media and Entertainment, and Others), and Regional Forecast (2019–2027)

Publication Month : Feb 2020

  • Report Code : TIPTE00002055
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 189
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The global event management software market garnered US$ 5,810.6 million in 2018 and is projected to generate US$ 21,287.6 million by 2027, registering a CAGR of 16.02% from 2019 to 2027.

The complexities in event management, integration of artificial intelligence (AI) in software, and rising importance of social media in event marketing are the potential elements stoking the growth of global event management software market. On the contrary, data privacy and security issues and difficulty in integrating event management software with business systems jeopardize the market expansion.

Events are considered essential and convenient ways of communication between companies and clients. A successful business event requires proper registration, event marketing, attendee management, venue sourcing, session management, and on-site technology. Prominent players operating in the global event management software market have been focusing on product and service enhancement by incorporating advanced features and technologies. They try augmenting their market presence by signing collaborations, contracts, joint ventures, and commencing new facilities worldwide.

Regionally, North America reigned the global event management software market in 2018 with the optimal revenue share. Meanwhile, APAC is likely to surge with the highest CAGR over the forecast period.

Future Trends

Adoption of Cloud-Based Event Management Software

Advanced features, low initial investment, and sophisticated cloud and hosting models are some of the substantial reasons behind the growing adoption of cloud-based event management software.The deployment of cloud-based solutions enables enterprises to lower operational costs, curb human errors, and enhance productivity. Not every small and medium-sized enterprise finds it feasible to invest in on-premise event management software due to complex installation and high operational costs. This creates a demand for cloud-based event management software, especially among SMEs. Besides, the growing digital revolution supports the adoption of cloud-based solutions across various industry verticals. These aforementioned elements are expected to propel the global event management software market at an impressive rate.

Drivers

Complexities in Event Management

Event management turns tedious when it comes to efficient operations. In addition, the involvement of various service providers such as event planners, marketing and promotion personnel, and ticket management teams, makes it more complicated. Diversified vendors, currencies, multiple languages, and time zones are some of the crucial factors influencing the event management market. These intricacies involved can be precisely handled by software systems facilitating the authority to analyze real-time and real-world data. Cloud-based solutions, Internet of Things (IoT), and AI are some emerging technologies expected to propel the global event management software market over the forecast period. Several event management companies are highly focused on offering enhanced features and services. They have deployed software technologies and automated solutions for efficient workflow and operations.

Rising Importance of Social Media in Event Marketing

Social media has become a mandatory and inherent tool for the promotion of buzz or news about any upcoming event. An estimated 3.2 billion people use social media every day. Event management teams and planners use different channels, e-mails, google ads, youtube videos, facebook, instagram, linkedin, twitter, etc., to advertise the event and make it appeal the masses. Social media allows potential attendees to engage in a live environment by asking questions and feedback. It provides impetus to the event exposure. Moreover, an event organized and campaigned through social media helps instill brand awareness, expand organizational reach, build audience interaction, and increase event registration rates.

Restraints

Difficulty in Integrating Event Management Software with Business Systems

A large number of event planners integrate event data with some of their organization’s business systems.However, most organizations find it challenging to integrate event management software with critical business systems, since the crucial information is accessed, modified, updated, and managed simultaneously by various processes and systems. Enterprises must ensure information consistency across all their operations to avoid system conflicts. Integration issue leads to data silos, reducing organizational capacity to analyze business data that gains valuable insights. Such software incorporating challenges curtail the expansion of global event management software market.

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Global Event Management Software Market: Strategic Insights

event-management-software-market
Market Size Value inUS$ 6483.4 Million in 2019
Market Size Value byUS$ 21287.6 Million by 2027
Growth rateCAGR of 16.02% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Market Segmentation

By Solution Type

Range of Features and Applications Buoyed the Segmental Growth

The global event management software market, by solution type, is split into software and services. The former led the market in 2018 with the largest revenue share and is anticipated to retain the lead till 2027. An effective software assists event managers in controlling and coordinating all minute but significant details to have an efficient workplace and successful event conduction. A software help organize, plan, manage, control, and produce an event. Besides, it creates websites, generates event apps, organizes ticketing and registrations, and offers engagement analytics to organizers for future event planning.

The services segment is estimated to surge at a prime CAGR over the forecast period. Event planners provide professional services such as event coordination, management, conferencing, exhibitions, and entertainment and venue sourcing. A growing number of event management applications drive the services market as they offer easily manageable features and analytics for predicting ROI generated from the events organized.

By Application

Large-Scale Adoption of Event-Planning Software Upheld the Segment’s Dominance

Based on application, the global event management software market is segmented into event planning, event marketing, venue and ticket management, reporting and analytics, and others. The event planning segment occupied the largest market share in 2018 and is speculated to continue dominating throughout the forecast period. The event planning software is used to manage meetings, team-building activities, tradeshows, conventions, ceremonies, and parties. The software deals with budgeting, setting tentative timelines, reserving event sites, obtaining permits, and transport coordination. The software also helps boost the event attendance through e-mail marketing campaigns and continuous event registration via online tools.

The segment, event marketing, stood as the second-largest market captivator in 2018, featuring a promising growth during the forecast period. Organizers use event marketing software to monitor and streamline all critical processes. Event marketing involves marketing analytics, blogging, e-mail, search optimization, lead management, and social media marketing on a single platform.

Regional Insights

The global event management software market is geographically segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA).

North America dominated the market in 2018, amassing the largest revenue share. The region is open to the adoption of new and emerging technologies, including event management software and tools. The concrete financial status of North America enables it to invest heavily in the approval of latest tools and techniques, ensuring effective business operations. Moreover, many prominent enterprises and organizations are headquartered in North America and the region hosts various international events, summits, and conferences. The region is highly active in shifting business processes into digitization. Various companies are developing event management software to exercise total control over customers, employees, and different-level services.

Europe exhibits vast cultural, political, and business landscape differences, making it a center of various events, exhibitions, and conferences. Most top European cities and countries are perceived as final destinations for major international association conferences. London, Barcelona, Berlin, Amsterdam, Madrid, Paris, Lisbon, and Prague are the top European destinations for events. The European event management software market thrives on the need for software that can plan, manage, and automate all event-related activities. In addition, the Big Data and AI are assisting to work on more personalized opportunities, such as creating a unique event schedule for each attendee and providing a personalized map of the venue location with other points of interest.

In the Asia Pacific event management software market, Hong Kong, Japan, Korea, and Singapore are cited as the most sought-after international event destinations owing to conducive tax incentives and a wave of tech start-ups. These international event hubs offer highly capable physical safety and unmatchable IT ecosystem development. The competitive advantage of Asia Pacific in terms of event management is the extensive use of messaging apps, making it easier to set up the system of event interactions.

Lucrative Regions in Event Management Software Market

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Key Market Players:

  • Active Network, LLC. (US)
  • Arlo Software Limited (New Zealand)
  • Attendify (US)
  • Aventri, Inc. (US)
  • Bizzabo, Inc (US)
  • Cvent, Inc. (US)
  • Event Espresso LLC (US)
  • Eventbrite, Inc (US)
  • Grenadine Technologies Inc. (Canada)
  • Zerista Inc. (Simpleview, LLC) (US)

Key Developments:

  • October 2019:

    Active Networks LLC partnered with NRPA for Parks Build Community Program 2019.
  • August 2018:

    Attendify introduced a new registration widget that enables users to add event registration and ticketing to their existing website without the need of adding external links.
  • June 2019:

    Aventri collaborated with Plannernet, a worldwide meeting and event supplier network, to enable clients to access a network of 1500 specialists across 70 countries.
  • September 2019:

    Cvent partnered with JTB to sell event solutions in Asia Pacific. JTB works as a platinum partner of the company.

Report Coverage

The global event management software market research report provides detailed insights into the market in terms of size, share, trends, and forecasts. It delivers crisp and precise know-how of drivers, restraints, opportunities, segments, and industrial landscape. A list of key market players with their respective developments in recent years has been reserved as a special mention.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Solution Type ; Application ; End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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


What are reasons behind Event Management Software industry growth across North America?

The presence of many well-known players, together with the presence of small businesses and new entrants in the region, is one of the substantial factors augmenting the market growth in the North America region. Moreover, to increased partnerships between companies in the region further boost the demands for event management software.

What are market opportunities for Event Management Software?

Small and medium-sized enterprises are still in the initial phases of adopting the latest technology trends. SMEs offers a huge growth opportunity for players operating in the event management software market. In order to tap this potential segment, companies are investing in marketing activities to spread awareness and generate interest in small scale businesses.

Which is most commonly used application of Event Management Software?

Currently event planning is most commonly used application of event management software. The advantage of event planning software is not only permit the event admin to efficiently manage more efficiently and also save ones time and money, by automating the overall promotional activities to create buzz prior to your event, thus, bolster the event management market in the forecast period.

The List of Companies - Event Management Software Market

  1. Active Network, LLC
  2. Arlo Software Limited
  3. Attendify
  4. Aventri, Inc.
  5. Bizzabo, Inc.
  6. Cvent, Inc.
  7. Event Espresso LLC
  8. Eventbrite, Inc.
  9. Grenadine Technologies Inc.
  10. Zerista Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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