by The global Event Management Software Market is estimated to be valued at US$ 12,251.7 million in 2023 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights
Market Overview:
Event management software refers to a range of software solutions designed to assist event organizers in planning, managing, and organizing various types of events. These software provide numerous advantages, including streamlining event registration and ticketing, managing venue layouts, tracking attendee and exhibitor information, managing event logistics, and providing real-time analytics and reporting. With the increasing number of events being organized worldwide, the need for efficient event management software has become paramount.
Market Key Trends:
One key trend driving the growth of the event management software market is the increasing adoption of cloud-based solutions. Cloud-based event management software offer greater flexibility and scalability compared to traditional on-premise solutions. They enable event organizers to easily access and manage event-related data from anywhere, anytime, and provide seamless collaboration among various stakeholders involved in the event planning process. Additionally, cloud-based solutions offer cost savings as they eliminate the need for expensive hardware infrastructure and ongoing maintenance costs. The growing popularity of cloud computing and the rising demand for remote access and real-time data are expected to fuel the adoption of cloud-based event management software.
PEST Analysis:
Political:
The political factors affecting the event management software market include government regulations and policies regarding data privacy and security. The increasing focus on data protection and cybersecurity measures is likely to impact the market. Additionally, government initiatives to promote digitalization and technology adoption in the event management industry can also influence market growth.
Economic:
The economic factors influencing the event management software market involve the overall economic conditions and consumer spending. A thriving economy with increased disposable income can lead to higher expenditure on events, thereby driving the demand for event management software. Conversely, economic downturns and reduced business budgets may limit the adoption of such software solutions.
Social:
The social factors impacting the market include changing consumer preferences and increasing demand for personalized event experiences. People today seek memorable and engaging events, which require efficient event management software to design and execute. Moreover, the growing trend of social media integration in events amplifies the need for software solutions that facilitate seamless interaction and attendee engagement.
Technological:
The technological factors shaping the event management software market revolve around advancements in technology and the growing popularity of cloud-based solutions. The integration of technologies like artificial intelligence, automation, and data analytics into event management software enables enhanced planning, execution, and analysis of events. Furthermore, the shift towards cloud-based platforms allows for remote access, scalability, and cost-efficiency.
Key Takeaways:
The Global Event Management Software Market Demand is expected to witness high growth, exhibiting a CAGR of 11.8% over the forecast period (2023-2030), due to several driving factors. The market size for 2021 is projected to be US$ 12,251.7 million.
In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the event management software market. The region’s strong presence of key industry players, technological advancements, and high adoption of event management solutions contribute to its growth. Additionally, the increasing number of corporate and social events in the region further drives the demand for efficient event planning and management software.
Key players operating in the event management software market include Cvent, Inc., Certain, Inc., Zoho Corporation, Zerista, etouches Inc., Gather Technologies Inc., EventBrite Inc., EventZilla, Xing Events, SocialTables, Bizzabo Inc., and Ungerboeck Software International. These companies offer a range of software solutions catering to the diverse needs of event organizers, providing features such as event registration, ticketing, attendee management, and analytics. Their strong market presence, extensive product portfolios, and focus on technological advancements position them as key players in the industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
