Event Management Software Market Report

Market Overview:

The global event management software market size reached US$ 5.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.8 Billion by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028. The rise in virtual and hybrid events, escalating demand for real-time analytics, and rapid cloud integration fostering innovation and enabling organizations to manage events with greater efficiency and flexibility are some of the major factors propelling the market.

Event management software is a technological solution that facilitates the planning, execution, and analysis of events. Currently streamlining various aspects of event coordination, this software allows professionals to manage invitations, registrations, attendee tracking, payments, and more through a centralized platform. By integrating multiple functionalities, it assists organizations in improving efficiency and enhancing the experience of both the planners and the participants. Particularly in today's digital age, event management software simplifies complex processes, enables real-time collaboration, and offers insights through data analytics. Its adoption is growing across industries, reflecting the increasing recognition of technology's role in making event management more effective and less time-consuming.

The rising demand for efficient event planning and execution will stimulate market growth during the forecast period. Moreover, cloud integration is enabling businesses to access data and manage events from anywhere, providing flexibility and scalability that traditional methods could not offer. Along with this, the rapid globalization of companies is creating a demand for tools that can manage events across various locations and cultures, pushing for more versatile software solutions. Besides this, the growing sustainability concerns among the masses are encouraging organizations to adopt practices that reduce waste and environmental impact, leading to the accelerated adoption of event management software that supports these initiatives. In addition, the coronavirus (COVID-19) pandemic has reshaped the way events are conducted, necessitating virtual and hybrid event management solutions. This shift toward virtual platforms has further expanded the scope of event management software, enabling it to cater to various new formats and requirements, thus propelling market growth.

Event Management Software Market Trends/Drivers:

Rise in Demand for Automation

The growing need for efficiency and precision in event planning and execution is catalyzing the demand for automation in the event management industry. With its ability to streamline various tasks such as scheduling, attendee registration, and payment processing, event management software offers a solution to the complexities often faced by event planners. By automating repetitive and time-consuming processes, these software tools allow professionals to focus on more strategic aspects of event planning, such as enhancing attendee engagement and experience. As businesses and organizations recognize the value of automation in reducing human error and saving time, the push toward incorporating event management software is becoming a significant driving force in the market.

Increase in the Number of Events

At present, there is a continuous rise in the number of events being held across the world, ranging from corporate conferences to social gatherings. This, in turn, has strengthened the need for efficient tools for planning and managing events to ensure their success. Event management software fulfills this need by providing comprehensive solutions for various aspects of event organization, including marketing, ticketing, and attendee management. As industries expand and social interactions become more complex, the demand for specialized software to manage these events effectively is escalating globally. This trend of growing event numbers is a prominent factor contributing to the surge in demand for event management software.

Continual Technological Advancements

Technological innovations are playing a crucial role in enhancing the capabilities of event management software. The introduction of novel features, such as real-time analytics, artificial intelligence-driven personalization, and seamless integration with other business tools, are transforming the way events are planned and executed. Such advancements are improving the software functionality while creating new possibilities for engagement and interaction within events. The incorporation of cutting-edge technologies in event management software is attracting more users who seek to leverage technology to make their events more dynamic and engaging. This alignment with technological progress is a key factor fueling the growth of the event management software market.

Event Management Software Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global event management software market report, along with forecasts at the global and regional levels for 2023-2028. Our report has categorized the market based on component type, deployment type, organization size, and end use sector.

Breakup by Component Type:

• Software
  • Venue Management Software
  • Ticketing Software
  • Event Registration Software
  • Event Marketing Software
  • Event Planning Software
  • Others
    • Content Management Software
    • Visitor Management Software
    • Analytics and Reporting Software
    • Resource Scheduling Software
    • Others
• Service
  • Professional Services
    • Deployment and Integration
    • Consulting
    • Support and Maintenance
  • Managed Services
     

Software dominates the market

The report has provided a detailed breakup and analysis of the market based on the component type. This includes software [venue management, ticketing, event registration, event marketing, event planning, and other software (content management software, visitor management software, analytics and reporting software, resource scheduling software, and others) and service [professional services (deployment and integration, consulting, and support and maintenance), and managed services)]. According to the report, software represented the largest segment.

The software component encompasses various specialized tools designed to assist in different aspects of event management. These typically include applications for venue management, ticketing, event registration, event marketing, event planning, and additional functionalities such as content management, visitor management, analytics, and reporting. On the other hand, the service component focuses on the professional and managed services that complement the software, ensuring its effective installation, integration, and ongoing support and maintenance. This segment comprises a range of professional services, including deployment and integration, consulting, and support and maintenance, as well as managed services offered by third-party vendors.

Businesses can identify and choose from the diverse variety of solutions that align with their specific needs and preferences. The combination of software tools and complementary services offers organizations the opportunity to create a tailored approach to event management, whether they require standalone applications or comprehensive, managed solutions, thereby positively influencing market growth.

Breakup by Deployment Type:

• On-Premise
• Cloud
   

On-premise represents the most popular type of deployment

A detailed breakup and analysis of the market based on the deployment mode has also been provided in the report. This includes on-premise and cloud. According to the report, on-premise accounted for the largest market share.

On-premises deployment involves installing the event management software on the physical servers located within the organization's premises. This type of deployment offers greater control over data and security, as all the information is housed within the organization's own infrastructure. On-premises solutions are often favored by companies with stringent regulatory compliance requirements or need highly customized solutions. It requires substantial investment in hardware, ongoing maintenance, and internal IT support, making it a substantial commitment in terms of resources.

Cloud deployment refers to hosting the event management software on a remote server, maintained by a third-party provider. This approach enables organizations to access the software over the internet, providing flexibility and scalability. Cloud-based solutions are often more cost-effective, as they eliminate the need for physical infrastructure and reduce maintenance responsibilities. They facilitate real-time collaboration and access from various locations, making them suitable for organizations with decentralized teams or those needing to manage events in multiple locations.

Breakup by Organization Size:

• Small and Medium Enterprises
• Large Enterprises
   

Large enterprises hold the largest share in the market

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes small and medium enterprises and large enterprises. According to the report, large enterprises represented the largest segment.

Small enterprises generally include businesses with fewer employees and more limited resources. In this segment, the emphasis is usually on cost-effective, easy-to-use solutions that address basic event management needs without requiring extensive customization or integration. Medium-sized organizations may seek a balance between functionality and scalability, often requiring more advanced features than small enterprises but still maintaining a focus on cost efficiency.

For SMEs, cloud-based solutions are often appealing due to lower upfront costs and maintenance requirements. Event management software targeted at this segment typically provides user-friendly interfaces and essential features such as ticketing, registration, and simple marketing tools.

Large enterprises typically handle complex, multifaceted events that may require robust event management software. These organizations mainly seek comprehensive solutions that can easily integrate with existing enterprise systems, provide extensive analytics, and offer flexibility for customization.

Breakup by End Use Sector:

• Corporate
• Government
• Third-party Planner
• Education
• Mining
• Others
   

Third-party planner accounts for the majority of the market share

A detailed breakup and analysis of the market based on the end use sector has also been provided in the report. This includes corporate, government, third-party planner, education, mining, and others. According to the report, third-party planner accounted for the largest market share.

Businesses and corporate organizations utilize event management software for conferences, product launches, training sessions, and other professional gatherings. Solutions for this segment are typically designed to enhance collaboration, branding, and networking opportunities. Government entities often require event management software for public meetings, internal training, conferences, and community events. Security, compliance, and transparency are often key considerations in this segment.

Third-party event planning firms and independent planners seek comprehensive and flexible solutions that can manage diverse events for multiple clients. Tools for marketing, customization, and reporting may be of particular importance here. Moreover, educational institutions rely on event management software for organizing seminars, workshops, conferences, and student events. Ease of use, integration with educational tools, and cost-effectiveness are common considerations.

Within the mining sector, event management software may be employed for safety training, stakeholder meetings, or industry conferences. Specific features may include compliance tracking, resource allocation, and specialized reporting. Other sectors, such as non-profit organizations, healthcare, hospitality, and sports. Each of these sectors may have unique requirements, whether it's fundraising tools for non-profits, patient engagement for healthcare, or guest experience optimization for hospitality.

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. According to the report, North America accounted for the largest market share.

North America, encompassing the U.S. and Canada, leads in the adoption of new technologies, including event management software. A strong presence of corporate and tech industries, coupled with advanced infrastructure, fuels demand in this region. Asia Pacific, including countries such as China, India, Japan, and Australia, is a diverse and rapidly growing market. Increasing globalization, expanding corporate sectors, and technological advancements are augmenting the market growth in this region. Europe's market includes key economies like Germany, the UK, France, and Italy. Factors such as strong governmental regulations, an emphasis on data privacy, and a robust corporate sector contribute to the demand for event management software.

The Middle East and Africa region, with its varied cultural and economic landscape, is seeing growth in industries like tourism, mining, and construction. Demand in this region may be driven by an interest in technological innovation and a growing corporate sector. Latin America, including countries such as Brazil, Mexico, and Argentina, is witnessing growth in sectors like manufacturing, tourism, and education. This growth, alongside rising technological adoption, is favoring the expansion of the market for event management software.

Competitive Landscape:

The market is experiencing moderate growth as key players in the industry are actively engaging in innovation, expansion, collaboration, and acquisition strategies to strengthen their positions. They are focusing on incorporating advanced features, such as artificial intelligence (AI) integration, real-time analytics, and virtual event capabilities, to cater to evolving customer needs. Numerous vendors are also expanding their global reach by entering new regional markets or forming strategic partnerships with local entities. Emphasizing customer support, offering tailored solutions for various industry segments, and staying abreast of regulatory compliance are also common pursuits by leading players in this domain. These concerted efforts reflect a dynamic and competitive landscape, where continuous adaptation and forward-thinking are vital for success.

The market research report has provided a comprehensive analysis of the competitive landscape in the global event management software market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Active Network
• Bizzabo Ltd.
• RegPack Inc.
• Hubb
• Gather Technologies
• Eventbrite
• EMS Software LLC
• XING SE
• Cvent
• RainFocus Inc.
• SignUpGenius Inc.
• Ungerboeck Software International
• Hubilo

Recent Developments:

• In December 2021, Cvent merged with Dragoneer Growth Opportunities Corp. II., a special purpose acquisition company. The merger provided Cvent with USD 801 million, which would enable the company to accelerate product innovation, increase research and development (R&D), reduce debt, and expand its share in the market.
• In November 2021, Ungerboeck Software International acquired Priava, a cloud-based venue and event management system with a wide portfolio of global customers. The acquisition enabled the company to expand its presence internationally in Australia, New Zealand, and the UK.
• In November 2020, Eventbrite announced the acquisition of ToneDen, a self-servicing social marketing platform. This acquisition enabled creators to attract and grow audiences, encouraging and engaging more ticket buyers.

Event Management Software Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the event management software market from 2017-2028.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global event management software market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the event management software industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.