Market Overview:
The digitalization in event management software companies and the use of new technologies could simplify their business processes and enable them to gather the information on their customers’ needs more effectively. The event managers use mobile applications and computer programs to, on one hand, maximize the user experience of the attendees, collect the needed data about them, communicate marketing messages, and on the other hand, to effectively plan and carry out the events through the event management software.
The responsibilities of an event manager requires a great deal of work on site, mobile applications have started to be used more frequently as they appear to be convenient during the active working process in event management software. Multiple event management software companies have started to develop digital solutions for the events, creating a new market niche at the same time.
The process of new service development of an event management software company to offer digital solutions for events (such as programs or applications) has to take into consideration both the specifics of the event management software business and the customers’ needs (customer can be for example the final user or an event organizer). Thus, event management software deployment for both Business to Business and Business to Consumer markets has been segmented as end user in the report.
Event management software aids in enhancing the workflow by maintaining a record of large data volumes and supporting the organizers in planning, coordinating, sourcing and analysing data and information to ensure a successful event. Event management software automates the 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. 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 to gain entry after payment formalities are completed, either online or in cash by event management software. Convenience and ease of this process is a major factor driving the adoption and usage of the event management software to a significant extent.
Technological Advantage:
Email marketing and social media allow event planners to reach a large audience and can be considered as the backbone of marketing efforts made for any modern-day events. It not only helps get the word out about the event but also helps in improving the number of attendees in an event.
While these efforts can bring a difference before the event is held, live streaming proceedings can help significantly increase the reach of the promotion through event management software. A large online audience in event management can cause significant engagement and increase footfall the same day or get superb reactions in form of likes, comments, and shares online by the event management software.
Cloud-based event management software enables easy and affordable access to event information from anywhere at any point of time. Furthermore, cloud-based event management software also helps to quickly fix any errors or system bugs. As cloud-based event management software can be accessed from anywhere, this offers dual advantages as along with enhancing customer experience it also enables event organizers to access the operational information in times if and when required.
Cloud-based event management software also helps in cost reduction as it negates the need for on-premise IT infrastructure upgrade. Features such as convenient access, cost-effectiveness and high scalability make cloud-based event management software a relatively more preferred choice for any organization. The latest trend in live streaming is crowdsourcing in event management software.
Technologies such as Periscope and Facebook Live help attendees broadcast their personal experiences easily in event management software. Define an event hashtag and encourage attendees who broadcast their experience to use it, so you can measure the results of event management software. Live streaming expands the audience beyond event capacity in event management software. The event management software companies can invite people to join Facebook Live events and tweet links to their followers. Even staffers who aren’t physically attending an event can support from afar by sharing the stream on the event management software platform.
Revenue generated by the global event management software market is estimated to reach US$ 6,804.0 Mn by 2016, witnessing an increase from US$ 6238.2 Mn in 2015. By deployment type, the on-premise segment is estimated to hold a large share among the other deployment type segments as they are secured connections. The event management software market for on-premise deployment type segment is expected to account for US$ 4,537.4 Mn by 2016, up from US$ 4,144.3 Mn in 2015.
By component type, the software segment is estimated to hold a large share among the other component segments as software provides cloud-based solutions to event organizers of the event management software market. The software segment is expected to account US$ 4,597.6 Mn by 2016, up from US$ 4,201.2 Mn in 2015 in the event management software market.
By organization size, the large enterprise segment is estimated to hold a large share it has a budget to spend on employees. The large enterprise segment is expected to account US$ 4,042.3 Mn by 2016, up from US$ 3,695.9 Mn in 2015 in the event management software market.
The corporate sector segment is estimated to account for maximum revenue share by 2026 in the event management software market. The event management software market is growing due to rising demand for cloud-based event management platform, increasing usage of social media and proliferation of smartphone usage.
The event management software market in North America is expected to be the large revenue generator by 2026, and is expected to account for a revenue share of 40.2 % by 2026, owing to the fact the region being fairly advanced in terms of adoption of modern technologies and updating technologies. Europe is estimated to be the second large regional market for event management software, with revenue expected to be worth US$ 3,812.7 Mn by 2026.
Competitive Landscape:
The vendors such as Eventbrite, Inc., Zerista, Bizzabo Inc., Certain Inc. and Xing Events are focusing on product launch and partnerships with other key players in the market to consolidate their position in the event management software market and to expand their customer base. In March 2016, Eventbrite entered into a partnership with Queue, which is a ticketing platform provider. This partnership enabled Eventbrite to integrate its product offerings with Queue’s technology, which helps in delivering innovative products and data-driven insights to organizers.
In January 2017, Bizzabo an event management software company focuses on updating its product offerings with advanced features in order to enhance customer base updated its ticket boost feature, which includes tracking pixels and zapier integration that offers campaigns customization, measurement of data such as revenue and engagement levels of the event management software market. This feature offers help in increasing customers for registration of events on social platform event management software market.
Key Segments Covered
By Deployment Type
- Cloud
- On-premise
By Enterprise Type
- Small & Medium Enterprise
- Large Enterprise
By Industry
- Corporate
- Event Planner
- Government
- Education
- Travel & Hospitality
- Others
By Component
- Software
- Event planning
- Event marketing
- Venue management
- Analytics & Reporting
- Others
Services
- Professional Services
- Managed Services
Regions
- North America
- U.S.
- Canada
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- APEJ
- China
- India
- ASEAN
- Australia & New Zealand
- Rest of APAC
- Japan
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Nordic
- Benelux
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Middle East & Africa
- North Africa
- South Africa
- GCC
- Rest of Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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