< Key Hightlight >

 The global event management software market size is expected to grow from USD 3.6 billion in 2020 to USD 6.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period. The event management software market will continue to grow post-COVID-19 as more enterprises across the globe plan to migrate its IT infrastrutcre to cloud, boost business continuity, and improvise busiess operations operations. While technology spending in APAC has increased, the setback due to the recent COVID-19 pandemic is imminent. 

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COVID-19 Impact Event Management Software Market

The outbreak of the COVID-19 has globally changed the dynamics of business operations. Though the COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has also offered several opportunities for event management solution vendors to expand their businesses across enterprises with the adoption of virtual events in the lockdown. The COVID-19 pandemic forced the event industry to stop and make noticeable changes in the way they conduct business operations. Virtual events were not popular at the beginning of the year 2020. Virtual conferences and events are being adopted at a faster pace as they have kept events going during the pandemic. In a survey conducted for the “Post-COVID-19 Event Outlook Report”, a total number of 400 marketers were involved and among them, 93% of organizers stated their plans to invest in virtual events. These events are forecasted to gain more traction in the post-COVID-19 period as per the data collected by the report.

Event Managementn Software market Dynamics

Drivers: Increased demand to capture actionable business insights from events

With the growing competition in the global market, marketers are continually striving to harness data for getting actionable insights. The event management software enables marketers to leverage the benefits of real-time data for extracting actionable business insights from events required to drive organizational growth. To utilize data and business insights, the event management software needs to be integrated with organizations’ various systems, including Customer Relationship Management (CRM), marketing automation software, collaboration platforms, payment gateways, and accounting software. It enables organizations to align the entire lifecycle of their events with their business goals, thereby facilitating Chief Marketing Officers (CMOs) with key business insights from the data gathered through various business events. Moreover, it helps organizations capture and analyzes attendees’ behavior, which helps them make effective business decisions.

Restraints: Difficulty in integrating event management software with business systems

Organizations find it difficult to integrate the event management software with key business systems. An organizations’ business information is accessed, modified, updated, and managed simultaneously using various processes and systems. To avoid system conflicts, enterprises need to ensure information consistency across all their systems. Integration issues lead to data silos, thereby reducing the organizations’ capability to analyze the business data and gain valuable insights.

Challenges: Lack of awareness of event management software

Though the event management software automates and optimizes processes throughout the lifecycle of an event, a majority of organizations across the globe are still unaware of its benefits. North America and Europe are expected to have high adoption rates of cloud technology and make prolific use of the event management software. Whereas other regions such as MEA and Latin America have low awareness of the event management software and its benefits; therefore, these regions have a lower adoption rate of the software. Education related to event management solutions and their associated benefits is essential to drive market growth.

Opportunities: Gamification of events to engage a larger audience

Organizations across industries are focusing on gamification to create high-quality experiences through events. Event organizers are using gamification as a tool to boost attendees’ engagement. Event gamification enables organizers to attain event goals, while it also enables them to create a fun-filled memorable experience for event attendees. It works on the basis of accessing emotions of attendees and offers various benefits, including creating a relaxed atmosphere, boosting attendees’ confidence, making communication easy and effective, and generating a feeling of common purpose. The event organizers use various gamification methods, including social media engagement, Question and Answer (Q&A) engagement, networking games, social programs, and teamwork games.

Event Management Software Market Ecosystem

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Based on professional service type, support and maintenance segment to be a larger contributor to the event management software market growth during the forecast period

Support and maintenance services are crucial, as they directly deal with customer satisfaction and issues. Every software vendor has a dedicated support team to serve the customers. Support, software maintenance, customer portal, post-deployment assistance, and client testimonials are some of the services provided under the support and maintenance segment. To derive consistent customer satisfaction, service providers regularly focus on enhancing their product knowledge base by receiving feedbacks through interviews and surveys. These services also provide a single point of contact that would help solve customer issues quickly. The customer portal is another helping aid that offers technical tips and software updates to customer forums.

Based on deployment model, the on premises segment to be a larger contributor to the event management market growth during the forecast period

The on-premises deployment type refers to the installation of the event management software on the premises of an organization rather than at a remote facility. On-premises solutions are delivered with a one-time licensing fee, along with a service agreement. Furthermore, deployment of the solution requires huge infrastructure and a personal data center, which is affordable only for large organizations. Hence, SMEs often face the dilemma of choosing between the hosted and on-premises solutions. In spite of its advantages, such as control over the system and data, and dedicated staff for maintenance and support, the on-premises deployment type has various drawbacks, which include high deployment costs and good infrastructure requirements that are not always possible for every organization. The growth of the on-premises deployment type is expected to be affected by the rapid development of cloud computing solutions.

Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC is the fastest-growing region in terms of cloud workloads and gaining traction mainly due to the high growth of technological adoption in countries, such as China and India. The region’s adoption is expected to increase rapidly in the coming years. The increasing availability of skilled labor and SMEs’ keen focus on entering and growing in this region are a few factors driving the adoption of event management software in APAC. The region consists of a broad customer base for many industries; thus, it needs brand marketing activities to reach out to potential clients. Countries such as India, China, Australia, and Japan are expected to be the major contributors to the growth of the event management software market in APAC. To increase their productivity, SMEs in APAC are adopting the cloud deployment type. APAC is expected to witness the fastest growth rate in the event management software market, due to fierce competition between companies and organizations expanding their businesses in the region.

The event management software market is dominated by companies such as Cvent (US), Aventri (US), Eventbrite (US), XING Events (Germany), Ungerboeck Software (US), Bizzabo (US), Certain (US), Attendify (US), RainFocus (US), ACTIVE Networks (US), Eventzilla (US), Meeting Evolution (US), EventMobi (Canada), Zoho Corporation (India), Regpack (US), EventBooking (US), Bitrix24 (US), Arlo (UK), WebMobi (US), Tripleseat (US). Hubilo (US), Circa (US), Hubb (US), Accelevents (US), Glue Up (US), idloom (Belgium), Eventdex (US), Event Temple (Canada), eventuosity (US), and Whova (US). These vendors have a large customer base and strong geographic footprint along with organized distribution channels, which helps them to increase revenues.

Scope of Report

This research report categorizes the event management software market to forecast revenue and analyze trends in each of the following submarkets:

Based on the Component:

• Software
• Services

Based on the ser Vices:

• Professional Services
  • Consulting
  • Deployment and integration
  • Support and maintenance
• Managed Services

Based on the Deployment Type:

• Cloud
• On premises

Based on organization size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

Based on verticals:

• Event Organiers and planners
• Corporate
• Government
• Education
• Others

Based on Regions:

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • Rest of Europe
• APAC
  • China
  • Japan
  • Australia
  • Rest of APAC
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

Recent Developments