Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Event Management Software Market Report (2023-2028)," the market is estimated at USD 8.51 billion in 2023. It is expected to register a CAGR of 13.96% during the forecast period.
Event management software is a platform that coordinates tasks for events of all sizes, from small marathons to large events like the Olympics. They have now become a standard for both large and small planners. Third-party planners benefit a lot from these solutions as they handle multiple events. The rise in sports, gaming, and entertainment events and the adoption of software for streamlined event planning are boosting the growth of the event management software market. Growing demand for innovative event hosting and social events is boosting the demand. Collaboration between vendors and event organizers is expected to increase in the coming years as events become effective marketing channels. However, higher software prices and lower awareness in developing regions are challenging the market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 8.51 billion |
| Market Size (2028) | USD 16.35 billion |
| CAGR (2023-2028) | 13.96% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The rise in sports, gaming, and entertainment events. |
| Adoption of software for streamlined event planning. |
Who are the Top Companies in the Global Event Management Software Market?
The market is moderately competitive and consists of several regional and global players. A few significant players currently hold a dominating share of the market. They are focusing on further expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives such as partnerships, acquisitions, etc., to increase their market share and profitability and to strengthen their product capabilities.
The significant players in the global event management software market are,
- Cvent Inc.
- XING SE
- Active Network LLC
- Aventri Inc.
- Eventbrite
- Ungerboeck Software International Inc.
- Certain Inc.
- SignUpGenius Inc.
- 9 EMS Software LLC
- TryBooking Pty Ltd
- Event Espresso
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Key Highlights from the Global Event Management Software Market Report:
Growth in Media and Entertainment Segment
- Media and entertainment events like concerts and festivals generate millions in revenue. These events are complex to plan, and any downtime can harm the management company's reputation. Thus, analytic tools and event management software are crucial.
- Many media events are outsourced, making added features a selling point for software. Key players are partnering with video solution vendors to enhance event offerings. Collaboration with vendors assisting arts and culture organizations is also on the rise.
- Increasing public events, like concerts and festivals, are expected to contribute to the growth of the market in the coming years.
North America to Hold Significant Market Share
- Increasing athletics events in educational institutions, marathons, film festivals, and private events in North America are contributing to the growing adoption of event management software. The United States alone hosts over 800 music festivals annually with millions of attendees.
- The region is characterized by the presence of major players, small enterprises, and new entrants. Strategic partnerships between these players are common to enhance product offerings and technologies.
- The need to efficiently manage significant events, like music festivals, is boosting event management software requirements in North America.
What are the Latest Developments in the Global Event Management Software Market?
- In June 2022, MeetingPlay + Aventri (MPAV) acquired Event Core, a comprehensive event registration technology platform with bespoke event registration services for organizations seeking tailored solutions for complex events.
- In April 2022, Cvent announced the new Cvent App Marketplace at the company's Cvent CONNECT customer conference. The App Marketplace is a one-stop shop for event planners and marketers to find SaaS solutions and other complementary technology partners.
Mordor Intelligence has Segmented the Global Event Management Software Market Based on Software, Organization Size, Deployment Type, End User Vertical, and Geography.
- By Software (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Event Planning
- Event Marketing
- Venue & Ticket Management
- Analytics and Reporting
- Other Software Types
- By Organization Size (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Small & Medium Enterprises
- Large Enterprises
- By Deployment Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cloud
- On-premise
- By End User Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Corporate
- Government
- Education
- Media and Entertainment
- Other End-user Verticals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Event Management Software Market Report (2023-2028).
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About Mordor Intelligence:
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