About the Report
Globally, the event management software market is expected to surpass a valuation of US$ 25.41 Bn by 2031. The demand for event management software is increasing in response to the rising usage of social tools, mobile apps, and real time analytics is sports, gaming, and entertainment events. In tandem with evolving lifestyle, technologies used for hosting any event are changing as well. Rising demand for innovations in hosting events will bode well for the overall market.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for event management software. The report tracks the global market value of event management software in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the event management companies, travel and hospitality agencies, corporates/enterprises in general, and event management software in particular.
How the Historical & Future Projections for Event Management Software Market Compare?
Between 2016 and 2020, global event management software registered a CAGR of 12.1%. Increasing need for automating and streamlining overall event management processes on a single platform is fuelling the demand for event management software.
Growth of the market was affected amid the pandemic as governments around the world enforced bans on public gathering and meetings to contain the spread of COVID-19. While this affected the overall market, the affect is likely to be temporary. The demand is expected to pick up as economies return to normalcy post extended period of lockdown.
Enterprises of all sizes are expanding rapidly, fuelling the demand for robust regional IT infrastructure. The demand for intense virtual event management software has risen considerably amid the pandemic, especially to host online team meeting and events as most of the employees remained quarantined in their homes and worked remotely for extended period.
In addition, cost-effectiveness and remote accessibility are other key factors, resulting in increasing deployment of cloud-based event management software platforms. According to FMI, the event management software market is likely to expand at a CAGR exceeding 14.1% throughout the assessment period, from 2021 to 2031.
Why is Integration of Advanced Features Important for Event Management Solutions?
Event management software aids in enhancing workflows by maintaining a record of large data volumes and supporting the organizers in planning, coordinating, sourcing and analyzing data and information to ensure a successful event. It automates processes such as ticketing, venue sourcing, expense tracking, floor planning, etc., thus streamlining the overall event management process.
Event management software also allows event organizers to send and track invitations of attendees from a portal where these individuals have registered themselves, and also monitors and tracks ticket sales, all on a single platform.
Driven by the multitude of benefits offered by this technology, an increasing number of event management companies are investing in event management
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What are Key Challenges Hindering Event Management Software Adoption?
Networking and connectivity are the key aspects of virtual event management solutions. However, virtual event platforms pose a major limitation as participants do not get the opportunity to interact one-on-one individually. This is one of the key cons of virtual conference end-use, which is restricting the virtual events market growth.
Also, attending virtual conferences from the comfort of a participant’s home can expose the participant to various technical distractions such as low internet bandwidth and electricity shortages. With multitasking abilities offered by smart network connected devices, audiences get easily distracted from virtual events. Lack of face-to-face interactions on a personal level restricts brands from making real connections with their audiences.
Furthermore, virtual events such as virtual conferences, fairs, tradeshows, and others, fail to offer the grandeur promised at real venue hosted live events. This factor is estimated to challenge the adoption of virtual event solutions during the forecast period, which ultimately affects the growth of event management software market.
What are the Key Features of Event Management Software?
End-users are procuring event management platforms and services in order to access and translate demand and sentiments of attendees and non-attending target audiences into actionable insights for decision making operations. Event management software vendors are integrating feedback and data collection capabilities into their solutions for customers in academic institutions, event management agencies, and enterprises, to help them collect sentiment data in real time.
The data collected can be translated into a generalized public sentiment that could help end users develop insight-based strategies for technology enhancement and addition or modification of virtual content. Customers are purchasing event management solutions with such integrated capabilities in order to benefit from traceable analytics and statistics.
What is Supporting Expansion of U.S. Event Management Software Market?
North America holds largest share of event management software market in 2020, and is also anticipated to remain dominant throughout the forecast period. As a country, the U.S. is anticipated to dominate the event management software market throughout the forecast period. The country has the headquarters of many large enterprises and corporate companies and is host to various international events and conferences.
According to Billboard, the U.S. alone hosts over 800 music festivals annually, attracting over 32 million attendees to these events. It is important to keep track of various aspects of events as big as music festivals, which has made event management software an indispensable tool for event organizers across the country.
Increasing Trend of Online Meetings in Germany
Germany is the international hub for large trade shows and business meetings. Berlin was ranked first in ICCA’s Top 20 city rankings for number of meeting organised. During majority of events held in Germany, venues provide Internet connectivity such as free wireless local area network (WLAN), thus enabling easy and rapid access to events online and thus enabling online meetings.
Online meetings are facilitated through event management software. For instance, Cvent Europe, Inc. hosts online meetings for companies in Germany. Thus, this software has potential growth opportunities in the region.
Why is the Popularity of Event Management Software growing in Brazil?
The live entertainment market in Brazil is expanding rapidly, which is creating increasing demand for innovative event management software. Live events such as music concerts, sports, and other entertainment shows are witnessing rising popularity in the country. Technological advancements, improving infrastructure and rising per capita income are some major factors fuelling spending on live events. In addition, increasing Internet penetration and proliferation of mobile devices is also resulting in rapidly growing awareness of various upcoming and on-going events via social media platforms and tweets etc.
Industrial Growth in Japan Boosting Event Management Software Uptake
Japan is the third-largest economy in the world, and is undergoing continuous economic development. Rising urbanization, open economy, and globalised outlook have led to relatively significant industrial growth in the country. This indicates that the number of corporate events has increased and will continue to do so in parallel with continuous development in the country. As a result, demand for event management software is also expected to increase in future in order to organise and execute successful events.
In addition, Japan is a leader in terms of adoption of cloud solutions among other countries in APAC region, which is mostly driven by rising demand from SMEs. As a result, Japan represents significantly high demand for cloud-based event management software.
The figure highlights some of the strategy and business operation level trends have been identified varying with respect to these regional clusters and relative product lifecycle (PLC) position. The image depicts a close scrutiny of event management software and its availability in different industries across 23 countries and relative emplacement on PLC leaves regional clusters at different curve.
Which Factors Are Driving Adoption of Event Management Software?
Event management software is pre-integrated with social media such as Facebook, LinkedIn and Twitter. Social media platforms are emerging as one of the most popular mediums for marketing and promoting events, campaigns and social causes. Event management software supports the registration process for potential attendees visiting the respective page on Facebook.
Once the registration formalities are completed on the supported page, the event management software generates an e-Ticket, which is then sent to the registered individual’s smartphone. The e-Ticket can be shown at the venue, and gain entry after payment formalities are completed, either online or in cash. Convenience and ease of this process is a major factor driving adoption and usage of event management software to a significant extent.
For instance, event management software provider – Bizzabo – provides event registration and ticket booking and payment options by integrating via LinkedIn.
How are Large Enterprises Contributing towards Event Management Software Market Growth?
Large enterprises are increasing their event budgets to organize more elaborate trade shows and corporate meetings. Most organizations use events as a key strategy for launching of new products or celebrating various events related to internal achievements and annual award ceremonies to name a few. Furthermore, corporate events are also a preferred mode for promoting a company or brand, or a product or service.
Organizations generally spend considerably on events as these events could lead to increase in sales and produce leads for future revenue generation or business. Increasing spending and reliance on corporate events for brand building purposes, launching new products and celebrations etc. is expected to create major potential opportunities for event management software providers.
What is Driving Deployment of Cloud-Based Solutions?
Cloud-based deployment of event management software is increasing rapidly owing to its various benefits. Cloud-based event management software can be accessed from any location at any point of time. It eases tasks of event management company employees as they can conduct operational checks at any point of time.
Cloud platform enables event managers to view operational trends on real-time basis, hence making it easier for them to check on venue availability. It also enables managing multiple events simultaneously. Companies such as Cvent, Inc. and Priava are increasing deployment of cloud-based event management software.
Companies are partnering with key technology players to expand their product portfolio. They are focusing on entering into partnership with other businesses that offer complementary products, services, and technologies, which strengthen its market coverage and enhance its technological capabilities. This strategy has enabled the company to quickly grow into a global provider that offers end-to-end capabilities and leverages its best-in-class solutions, with an aim to deliver high-quality services.
For instance, in March 2020, Hubb entered into partnership with Evia Events an event tech company offering complete digital event and media distribution solutions, to support the events industry in pivoting to virtual events solutions to minimize the impact to attendees and sponsors effected by recent event cancellations. Some of the players competing in the event management software market include:
- Cvent Inc.
- InEvent, Inc.
- Certain, Inc.
- XING Events
- Aventri Inc.
- Hubilo Technologies Inc.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with competition deep dive available in the report
Event Management Software Market Report Scope
Historical Data Available for
US$ Mn for Value
Key Regions Covered
North America, Europe, Middle East & Africa and Rest of the World
Key Countries Covered
U.S., Canada, Germany, Italy, France, U.K., Spain, GCC and South Africa
Key Segments Covered
Solution, Deployment, Enterprise Size, End-user and Region
Key Companies Profiled
Customization & Pricing
Key questions answered in the report
How will event management software market expand until 2031?
FMI projects the global event management software market to register a CAGR of 14.1% between 2021 and 2031.
What are the major challenges to event management software market growth?
Integrating event management software with customer relationship management tools or other business functionalities is a complicated process and requires high technical expertise, which is a significant factor, restraining growth of the market.
Who are the leading players in event management software market?
Prominent players operating in the global event management software landscape include InEvent, Inc., Ungerboeck, Eventzilla, Certain, Inc., Hubilo Technologies Inc. and Eventbrite among others.
What are the major trends, impacting the event management software market growth?
Education institutions are increasingly adopting cloud-based event management solutions for organising alumni events, educational conferences and recruitment fairs. Thus cloud-based solutions adoption is gaining traction in the education sector.
Which is the leading event management software market?
North America currently dominates the global event management software market. Within North America, the U.S. is expected to remain the leading market over the coming decade.
Enquiry before Buying
Is the event management software market research conducted by FMI?
Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst
What research methodology is followed by FMI?
Future Market Insights follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology
Who are the respondents for primary research?
Future Market Insights speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.
What are the sources of secondary research?
Future Market Insights conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Is a sample of this report available for evaluation?
Yes, you can request a sample and it will be sent to you through an email.
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Event Management Market by Category
- Integrated Event Management Software
- Standalone Software
- Venue Management Software
- Event Marketing Software
- Event Booking & Registration Software
- Managed Services
- Professional Services
- Event Planning & Consulting
- Integration and Implementation
- Support & Maintenance
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Event Management Companies
- Travel & Hospitality Companies
- Academic Institution
- North America
- Latin America
- South Asia and Pacific
- East Asia
- Middle East and Africa