12.09.2019 16:10

MarketsandMarkets projects the event management software market to grow from USD 5.7 billion in 2019 to USD 11.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 15.0% from 2019 to 2024

Growing demand for event automation and an increasing focus on gaining actionable business insights from events are driving the growth of event management software market

NEW YORK, Sept. 12, 2019 /PRNewswire/ --

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MarketsandMarkets projects the event management software market to grow from USD 5.7 billion in 2019 to USD 11.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 15.0% from 2019 to 2024. This market is driven by the growing need for software to plan, manage, and automate the activities associated with events throughout its lifecycle. On the other hand, the integration issues of the software in the existing system or software packages of an organization is one of the major restraints for the event management software market.

Event management software is expected to hold the major market size during the forecast period.
The event management software refers to a wide range of software products used in the management of trade exhibitions, conferences, and events.It helps enhance the quality of events and provides enhanced visibility for event organizers.

Managing events require many hours of hard work of the existing resources; therefore, to streamline the planning, scheduling, and event marketing processes, various organizations are opting for the event management software, which helps them in facilitating reliable and outstanding services to the attendees and customers at a lower cost. The event management software segment is divided further into venue management software, event registration & ticketing software, event planning software, event marketing software, analytics & reporting software, and others (mobile apps, content management, booking and billing, resource scheduling, visitor management, and catering).

On-premises deployment is expected to hold the major market size 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 this 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 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.

North America is expected to hold the major market size during the forecast period.
North America consists of developed countries, such as the US and Canada.This region is open to the adoption of new and emerging technologies.

Moreover, its strong financial position allows it to invest heavily to adopt the latest and leading tools & technologies for ensuring effective business operations. Such advantages help organizations in this region gain a competitive edge.
North America has the first-mover advantage in the adoption of new technologies, such as smartphones and cloud platforms.The factors expected to be driving the growth of the event management software market in North America are the stable economy, technological enhancements, and advanced the infrastructure costs.

APAC is one of the fastest-growing regions and has a favorable market for event management software and service vendors. India, China, Australia, and Japan are significant contributors to the event management software market growth in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below as:
• By company type: Tier 1 – 25%, Tier 2 – 30%, and Tier 3 – 45%
• By designation: C-level – 40%, Director level – 35%, and Others – 25%
• By region: North America – 45%, Europe – 25%, APAC – 20%, RoW – 10%

The event management software ecosystem comprises major vendors, such as ACTIVE Network (US), Arlo (New Zealand), Attendify (US), Aventri (US), Bizzabo (US), Certain (US), Cvent (US), EventBank (US), EventBooking (US), Eventbrite (US), EventGeek (US), EventMobi (Canada), EventPro (Canada), eventuosity (US), Eventzilla (US), Gather Technologies (US), Hubb (US), Hubilo (India), Meeting Evolution (US), Regpack (US), SignUpGenius (US), Social Tables (US), Ungerboeck Software (US), Whova (US), XING Events (Germany), and RainFocus (US).

Research Coverage
The report includes an in-depth competitive analysis of these key players in the event management software market, with their company profiles, product portfolios, recent developments, and key market strategies. The research report segments the event management software market by component (software and services), deployment type, organization size, end-user, and region.

Reasons to Buy the Report
The report on the global event management software market will help leaders/new entrants in the market in the following ways:
1. The report segments the event management software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are split further across various industry verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders in better understanding the competitors and gaining more insights to position their businesses better. There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 26 major vendors in this market. In this section, market internals have been provided, that can put them ahead of the competitors.

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