According to the analysis by Market Research Future Reports (MRFR), the global market for event management software is likely to value USD 14.56 Billion with a CAGR of 11.68% during the review period from 2019 to 2025.
Market synopsis
An increased number of event management applications in mobile phones is likely to influence the event management system (EMS) market 2020 since it provides accessible features and analyses equipment for estimating ROI generated from the event. Increasing internet services on cell phones influences the number of smartphone users globally. It has been anticipated that more than 2 billion people use cell phones to fulfil personal and professional needs. Higher accessibility, innovation in technology, the reduced price of smartphones, and increased social media life of individuals have driven the market considerably. The increased usage of smartphones is demanding more advancements in the mobile application industry, and it is highly efficient for an organization to reach a higher number of people in lesser time. Other factors that are propelling the market are increased adoption of cloud platforms, rising online education programs, and higher expenditure on event management. However, due to less awareness of technical proficiency in the developing nations, and the increasing cyber-attacks are some of the hurdles for market players, which may obstruct the growth of the market in the forthcoming period.
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Market Segmentation
The global market for event management software can be divided on the basis of deployment, application, software type, and region.
On the basis of deployment, the global market for event management can be classified into the cloud and on premise.
On the basis of application, the global market for event management can be classified into education, government, association, corporate, and others.
On the basis of software type, the global market for event management can be classified into venue sourcing, event, analytics software, registration, on-site technology, event marketing, and others.
On the basis of region, the global market for event management can be classified into Europe, North America, Asia Pacific, and the Middle East and Africa.
Regional Analysis
The geographical analysis of North America, Asia Pacific, and Europe have been performed. As per the report, North American is the leading market by acquiring the largest market share accounting for USD 2.96 billion in 2016, and is likely to value more than USD 6.95 billion by 2022. North America experienced a high growth rate for the event management software market. Moreover, the presence of established firms such as Bizzabo, Cvent, and others is increasing demand for technically advanced solutions to meet the needs of increasing the event management sector. Also, the implementation of several types of event management software using cloud deployment is the most crucial factor propelling the market growth in North America.
The event management sector in the APAC region is not exhibiting an up to the mark rate of growth. It is due to the lack of knowledge, and keeping intact the traditional approach of event planning is the most crucial reason for the hampered growth of the market in the region. Moreover, countries like China, Japan are not foreign business-specific countries.
In Europe, the UK, France, Italy, Germany, and Sweden are the most crucial countries in the region. They have a significant contribution in the growing market regionally. However, the difference between politics, culture, and business atmosphere is hindering the market in the region.
Key Players
The most important market players in the global event management software market are Ungerboeck Software International, Bizzabo, Active network LLC, Certain Inc., Etouches, Cvent Inc., Eventbrite, Pulse network, Lanyon Solutions Inc., and Regfox LLC.
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