Newark, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the event management software market will grow from USD 7.93 Billion in 2022 to USD 32.41 Billion by 2032. The event management software market is expanding due to the rising need to manage large amounts of data required for events. Further, many organizations invest in such software to enhance their social media marketing.
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Key Insight of the Event Management Software Market
North America region to account for the largest market size during the forecast period.
North America region will hold a significant market share due to the rising number of commercial events and increasing adoption of innovative digital technologies. Further, many regional organizations supply software solutions such as data analytics, cloud hosting and machine learning applications. The stakeholders, corporate and event organizers & planners are investing in the software to enhance customer engagement.
The cloud segment is expected to augment the market during the forecast period.
The deployment type segment is divided into on-premises and cloud. The cloud segment is expected to augment the market during the forecast period. Any organization of any size can plan and carry out events using a cloud-based event management software system. Cloud event management software enables users to streamline the event registration process for on-site and off-site participants.
The services segment is expected to augment the market during the forecast period.
The component segment is divided into software and services. The software segment includes venue management software, event marketing software, event planning software, analytics and reporting software, content management software, and event registration and ticketing software. The services segment includes managed services and professional services. The services segment is expected to augment the market during the forecast period. The event management services are designed to streamline complex procedures, automate time-consuming chores, and minimize hectic work so that the end-users can concentrate on core operations.
The corporate segment is expected to augment the market during the forecast period.
The end-users segment is divided into government, corporate, event organizers & planners, education and others. The corporate segment is expected to augment the market during the forecast period. Organizations can control every stage of the event lifecycle with the help of event management software. It is software that combines all the event planning capabilities an organization require, including resource organization, financial tracking, improved communications, and much more, and increases overall productivity.
The small & medium-sized enterprises segment will augment the market during the forecast period.
The organization size segment is divided into small & medium-sized enterprises and large-sized enterprises. The small & medium-sized enterprises segment will augment the market during the forecast period. Small and medium-sized businesses that plan events like workshops, conferences, and webinars might benefit from using event project management software in several ways. These advantages include greater visibility and control over the project scope and improved teamwork and communication with vendors and stakeholders.
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Market Dynamics
Driver: Rising use of data analytics software for the management of events
Most of the event management software available today has powerful data analytics capabilities. It provides in-depth participant analytics, attendee monitoring, and event reporting. The software analytics assist event planners in evaluating event performance, monitoring attendee behaviour, and improving event content. It offers the ability to analyze and analyze event data using advanced analytics. Further, it gives information on attendees' behaviour, engagement, and conversions. It combines event data with site analytics and offers scalable dashboards and reports for data visualization. Further, obtaining practical insights is required from the software to guide event design, marketing plans, participant engagement, and general event enhancements. Using these insights, event planners may optimize many of their events and improve the guest experience by making data-driven decisions.
Restraint: Limitations related to analyzing offline data
The absence of additional integrations or human input limits the amount of offline event data that may be captured. Offline event data is difficult to capture with the use of such software. This can complicate the whole process and limit the application of such software, especially in mid and large-scale events.
Opportunity: Expansion of social media marketing and advertising
The demand for online purchasing has increased in the recent decade due to the growing number of e-commerce websites. The growth of e-commerce websites has increased due to accessibility and internet penetration. Consumers are more inclined to purchase most things online due to the growing use of smartphones. Many businesses use fresh online events and campaigns and actively employ social media marketing methods to attract new clients and engage existing ones. According to approximately 40% of event planners, social media visibility is a significant determinant of an event's success. As a result, many businesses are investing in and implementing event management software.
Challenges: Lack of awareness
Many parts of developing and under-developed regions are still not aware regarding the use of event management software. The organizations prefer to use the conventional methods of event management. Further, many large and mid-scale organizations in the region are not investing in event management software as they are sceptical about the returns.
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Some of the major players operating in the Event Management Software market are:
• Active Network LLC
• Stova
• Arlo
• Eventdex.com
• Bitrix24
• Hopin
• Whova
• WebMOBI
• Certain, Inc.
• EMS Software LLC
• Cvent, Inc.
• Eventbrite
• Ungerboeck
• Rainfocus
• Zoho Corp. Pvt Ltd.
• Pigeonhole Live
• ProClass
• Smeetz
• ARC Business Solutions
• Slido
• Aventri, Inc.
Key Segments Cover in the Market:
By Deployment Type:
• On-premises
• Cloud
By Component:
• Software
o Venue Management Software
o Event Marketing Software
o Event Planning Software
o Analytics and Reporting Software
o Content Management Software
o Event Registration and Ticketing Software
• Services
o Managed Services
o Professional Services
By End-users:
• Government
• Corporate
• Event Organizers & Planners
• Education
• Others
By Organization Size:
• Small and Medium-Sized Enterprises
• Large Sized Enterprises
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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