Event Management Software Market size was reached USD 6.3 billion in 2021 and is slated to register a double digit CAGR of 12.8% over the period 2022-2029 and is projected to reach USD 16.5 billion in 2029.
Event Management Software Trends and Drivers
Major factors driving Event Management Software market includes the growing demand for software for streamline management of events, increasing number of events in sports and gaming industries. In addition to this, increasing need to manage large volume of data and to automate event management tasks to save time and money are positively impacting the market growth. Increasing use of the social media platforms for event marketing is further boosting the market. The demand for event management software has increased post COVID-19, SMEs and large enterprises are gradually shifting towards cloud networks to improve their overall business operations. However, high initial cost for developing event management software and increase in the number of cyber-attacks during the events is hindering the Event Management Software market growth.
Based on Component, Software segment dominates the market in 2021.
Software segment is driven by the increasing preference for virtual events among organizations. The software helps educational institutes and businesses to design their events according to their requirements and can easily run the events virtually.
Based on Deployment, Cloud segment is held major share in 2021.
Cloud-based Event Management Software solutions are gaining traction in the market as it helps businesses in setting up a control center for monitoring and coordinating various components of their digital marketing campaigns without investing on IT infrastructure, thus saving IT costs and to improve overall cost structure. It further allows to run various marketing campaigns from different locations.
Based on Organisation Size, Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR.
Rise in the number of SMEs in countries like India, US and China is boosting the market growth. In addition, cloud based event management software solutions is becoming more popular among small and medium sized enterprises due to the low deployment costs.
Based on Region, North American region is projected to hold the largest Event Management Software market share.
North American Event Management Software market is driven by growing adoption rate of event management software among various industries such as educational institutes along with the increasing awareness about the advantages of advance technologies and expertise among the enterprises. Moreover, vendors are adopting advance technologies to cater the growing need for better management of events, data analytics, collaboration and integration tools in North America. Leading players such as Bizzabo, Aventri Inc, and Glue Up, among various small and medium scale enterprises to meet the increasing demand for event management software in the regional market. For instance, almost 800 events was hosted in the US and more than 32 million attendees was there in June 2018.
Top Market Players
Some of the major companies operating in the Event Management Software market are Cvent Inc., Aventri, Inc., Eventbrite, New Work SE, Ungerboeck, Bizzabo, Certain, Inc., Hubilo Technologies Inc., Hubb., Accelevents, among others.Key Developments:
• In January 2022, Aventri joins together with MeetingPlay to offer full service solutions for meeting and events for all the sizes. Through this merger, companies will strengthen their position in the market.
• In November 2021, Ungerboeck acquired a cloud-based venue and event management system company i.e. Priava. Through this acquisition, company will expand its footprint in countries like Australia, New Zealand, and the UK.
• In July 2021, Cvent signed an partnership agreement with Dragoneer Growth Opportunities Corp. II. Companies planned to focus on product innovation to strengthen their position in the market and to reduce their debts.
• In June 2021, Hopin acquired Boomset to turn into an all-in-one event management platform with onsite capabilities for hybrid and in-person events. Through this acquisition, company will expand its product portfolio with the offering of essential onsite event management tools.
Segmentation by Component
o Professional services
o Deployment & integration
o Support & maintenance
o Managed services
Segmentation by Deployment Mode
Segmentation by End-Users
o Event organisers and Planners
Segmentation by Organization size
o Small and Medium-sized Enterprises (SMEs)
o Large Enterprises
Segmentation by Region
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
About GMI Research
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