Authored By: Sarah
11 Aug 2024

 Event Management Software Market Size to grow by USD 2777.6 million between 2024-2028

According to a research report “ Event Management Software Market” by Deployment (Cloud-based, On-premise) Component (Software, Services) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2777.6 million, at a CAGR of 8.21% during the forecast period. In the realm of event management solutions, the Total Cost of Ownership (TCO) for traditional software encompasses the initial software implementation expense, software licensing fees, and ongoing maintenance costs. Conversely, event management-as-a-service offerings from cloud vendors shift the responsibility of maintenance, backup, upgrades, and implementation to the vendor. This model, based on pay-per-use, allows businesses to pay according to their usage, eliminating the need for significant IT infrastructure investments and associated connection costs. Traditional event management software necessitates substantial expenditures on enterprise and partner system connections to ensure seamless information flow. By opting for event management software, businesses can avoid these connection-related expenses, as the solutions provide a variety of connection options..

Browse market data tables, figures, and in-depth TOC on “Event Management Software Market” by Deployment (Cloud-based, On-premise) Component (Software, Services) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

By Deployment, the Cloud-based segment is projected to dominate the market size in 2024

In the event management industry, the ability to effectively manage time is crucial for successful execution. Cloud-based event management software addresses the issue of limited data storage capacity with its infinite size, offering a scalable solution. Furthermore, the cloud-solution enables vendors to provide a software-as-a-service (SaaS) pricing model, reducing operational and investment risks. The transition to cloud-based deployment models offers cost-effective event management software. The increasing reliance on the Internet for business operations is driving the growth of the global cloud-based event management software market, which is anticipated to expand significantly during the forecast period.

By Component, Software  segment is expected to hold the largest market size for the year 2024

Event management software plays a crucial role in businesses of all sizes and industries, including manufacturing, media and entertainment, healthcare, retail, public sector, banking, financial services, utilities, and distribution. These business-critical software solutions are employed by organizations to enhance efficiency and productivity, leveraging the software's features and concepts. The global business landscape is increasingly competitive, with enterprise software gaining widespread recognition. The proliferation of companies worldwide has fueled the demand for enterprise software, a trend that is anticipated to continue throughout the forecast period.

North America is forecasted to hold the largest market size by region in 2024

The Event Management Software market is experiencing significant growth due to the increasing demand for streamlined event planning and management solutions. Businesses are recognizing the value of utilizing technology to optimize event operations, from registration and ticketing to logistics and analytics. This trend is expected to continue as the market expands, offering innovative tools to enhance attendee engagement and improve overall event success.

The Event Management Software Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 5Touch Solution Inc.
  • Arlo Software Ltd.
  • Aventri Inc.
  • Bizzabo
  • CadmiumCD LLC
  • Certain Inc.
  • Cvent Holding Corp.
  • Eventbrite Inc.
  • EventGeek Inc.
  • Eventzilla Corp.
  • Fortive Corp.
  • Global Payments Inc.
  • Glue Up
  • Hubb
  • MIE Software Pty Ltd.
  • New Work SE
  • RainFocus LLC
  • Ungerboeck
  • Whova Inc.
  • Zoho Corp. Pvt. Ltd.
.

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Research Analysis Overview

The Event Management Software Market is witnessing significant growth as more freelance organizers, professional organizers, small-scale planners, and large-scale planners turn to technology to streamline their operations. This software offers real-time data analysis, data management, and virtual events capabilities, making it an essential tool for managing entertainment events, gaming tournaments, sports competitions, cultural festivals, exhibits, worldwide conferences, and more. Event organizers, whether behavioral or opinion-driven, benefit from the data-handling attributes of these software solutions. Real-time data analysis and management enable event managers to make informed decisions and respond to changing circumstances in a timely manner. Technology plays a crucial role in brand marketing, with internet penetration and digital infrastructure becoming increasingly important for SMEs. Gamification, social media integration, and virtual events are also driving the growth of the Event Management Software Market. These features allow for more interactive and engaging experiences for attendees, making events more memorable and effective. Overall, the market is expected to continue growing as the demand for efficient and effective event planning solutions increases.

Market Research Overview

The Event Management Software Market is experiencing significant growth due to the increasing demand for advanced tools to manage various types of events, from music festivals and film festivals to marathons, athletics events, and fundraising gatherings. Primary ticketing and end-to-end functionality are key features of event management software, allowing event organizers to manage attendee registration, event schedule, and payment gateways all in one place. Software companies like Tripleseat, Billboard, and General Atlantic are leading the way with updated technologies and strategic partnerships. Event marketing, social media, and mobile devices are also driving the market, enabling real-time data analysis and communication with attendees. The market is not limited to large-scale events or in-house planners. Freelance organizers, small-scale planners, and professional organizers are also adopting event management software for its application-based, automation technologies, and data management capabilities. New solutions like Virtual Reality (VR) and Augmented Reality (AR) are gaining popularity for hybrid events, while sustainability and automation technologies are becoming essential for event execution workflows. However, challenges such as foreign logistics, communication hurdles, and cultural variations remain in less developed regions. The market is expected to continue growing, with a higher price tag for advanced features like AI and ML, and a focus on data-handling attributes and brand marketing. The demand for innovations in event management software is driven by the need for actionable insight, collaboration with marketing firms, and the increasing popularity of virtual events.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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