The global event management software market enables event organizers, planners, and venues to manage and conduct business-related, social, and private events seamlessly. Event management software provides digital event solutions that allow event organizers to manage registration, ticketing, schedule, venue management, floor plans, expenses, and analytics in one central hub.
The global event management software market is estimated to be valued at US$ 12,251.7 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 key trends:
The increasing demand for digital event planning solutions is expected to be a major market trend over the forecast period. Digitization has transformed event management globally with organizations adopting advanced digital tools & communication mediums for conducting virtual and hybrid events. Digital event planning software provides features like virtual networking lounges, branded websites, online registration portals, visitor engagement tools, and analytics that enhance attendee experience. These flexible and scalable solutions help event organizers efficiently plan, market and manage hybrid events at lower costs while maximizing engagement and revenues. The ongoing digital transformation of the events industry post-pandemic is fueling adoption of innovative event management software amongst enterprises.
SWOT Analysis
Strength: Event management software offers advanced features like online registration, venue management, payment processing, etc. which help in streamlining event planning processes.
Weakness: High costs associated with deployment and maintenance of event management software can be prohibitive for small organizations. Switching to new software requires migrating large amount of existing data.
Opportunity: Growing demand for virtual and hybrid events during the pandemic has opened growth avenues for vendors providing features like virtual event platforms, networking, and engagement analytics.
Threats: Entry of new players especially in SaaS form can intensify competition. Growing BYOD trend increases risk of data security breaches.
Key Takeaways
The global event management software market is expected to witness high growth.
North America holds the major share of the event management software market currently due to high technology adoption rate and presence of key players in the region. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due growing SMB sector and increase in marketing and corporate events in the region.
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. Cvent Inc. holds the leading position with proprietary event management platform for end-to-end event planning. Certain Inc. offers virtual event and hybrid event capabilities. Zoho Corporation provides event management software with comprehensive features integrated with CRM and marketing platform.
