July 16, 2024
Event Management Software Market
Ict

Event Management Software Segment Is The Largest Segment Driving The Growth Of Event Management Software Market

The global Event Management Software Market is estimated to be valued at US$ 15313.69 Mn or Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Event management software enables event organizers and planners to effectively manage all aspects of an event from the initial planning stages through execution and post-event follow-ups. It helps to create and manage online registrations, venue layouts, schedules, volunteer assignments, ticket sales, expenses and more.

Market key trends:

One of the key trends in the event management software market is the increasing adoption of cloud and Software-as-a-Service (SaaS) based event management solutions. Cloud and SaaS based event management software offers benefits such as scalability, flexibility, mobility and reduced IT costs. Since event management involves coordination of various activities across different locations and time zones, cloud and SaaS based event management software with their inherent advantages are becoming increasingly popular. This is expected to drive the growth of the market during the forecast period.

SWOT Analysis

Strength: Event management software provides comprehensive tools to plan and execute events. It helps in streamlining workflows and provides better visibility.

Weakness: Transitioning to new event management software requires training of staff and comes with a learning curve. Upgradation to new features and versions require additional investments.

Opportunity: Growing demand for virtual and hybrid events during the pandemic has opened new opportunities for event management software providers. Cloud-based offerings are gaining traction.

Threats: Free or low-cost alternatives limit the pricing power of established vendors. Open-source event management platforms pose competition.

Key Takeaways

The Global Event Management Software Market Size is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing demand from corporate organizations, government bodies, and educational institutes for centralized and collaborative planning of events.

Regional analysis: North America accounted for the largest share of the global event management software market in 2023. However, the market in Asia Pacific is expected to witness the fastest growth during the forecast period owing to expanding small and medium enterprise sector and rapid digitalization in countries such as China and India.

Key players operating in the event management software market are Cvent, Inc., Certain, Inc., Zoho Corporation, Zerista, etouches Inc., Gather Technologies Inc., EventBrite Inc., EventZilla, Xing Events, SocialTables ̧ Bizzabo Inc., and Ungerboeck Software International. The key players are focusing on expanding their product portfolio and addressing diverse needs of various end-use industries through new product launches. For instance, in 2022, Cvent launched a new Conversations feature allowing organizers and participants of virtual and hybrid events to connect.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it