According to the latest report by IMARC Group, titled "Event Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global event management software market reached a value of US$ 5.0 Billion in 2021. Event management software (EMS) is a Software as a Service (SaaS) that assists event organizers to automatically manage various business-to-business (B2B) and business-to-consumer (B2B) professional events, such as trade exhibitions, networking, trade shows, round tables, industry conferences, expositions, and internal training. This internet-based system covers diverse aspects of an event management, including project planning and scheduling, marketing, venue selection, procurement and sourcing, audience response solutions, floor planning, and billing. EMS also performs various on-site operations, including registration, badges, and event networking for attendee engagement. This, in turn, aids in increasing interaction, improving data collection, reducing workload, eliminating the time needed for manual processing, and supporting targeted activity, thus minimizing the overall operational costs.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Event Management Software Market Trends:
A substantial increase in the number of entertainment and other industry-related events, along with the rising need to streamline and automate the management of these events are some of the major factors driving the global event management software market growth. Apart from this, in order to meet the growing business requirement for enhanced customer engagement, faster decision-making capabilities, and improved actionable insights, various enterprises are adopting data-driven tools, such as EMS. This, in turn, is catalyzing the market growth. Moreover, the rising popularity of cloud-based solutions as a cost-effective alternative for organizations to host virtual events, enhance business continuity, and improve operational efficiency, especially during the coronavirus disease (COVID-19) pandemic, is acting as another major growth-inducing factor. The increasing penetration of smartphones in daily lives, the proliferation of social media sites, the integration of various planning systems with the internet of things (IoT), and the easy availability of various subscription-based pricing models are projected to drive the market further toward growth. Looking forward, the market is expected to reach US$ 9.0 Billion by 2027, exhibiting at a CAGR of 10.3% during 2022-2027.
- Based on the component type, the market has been divided into software (venue management, ticketing, event registration, event marketing, event planning, and other software (content management, visitor management, analytics and reporting, resource scheduling software, and others), service (professional services (deployment and integration, consulting, and support and maintenance), and managed services)).
- On the basis of the deployment type, the market has been bifurcated into on-premises and cloud.
- Based on the organization size, the market has been segmented into small and medium, and large enterprises.
- On the basis of the end use sector, the market has been classified into corporate, government, third-party planner, education, mining, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Indonesia, Philippines, South Korea, North Korea, Malaysia, Vietnam and others), Europe (France, Italy, Russia and others), Middle East and Africa (Saudi Arabia, the United Arab Emirates, South Africa and others), and Latin America (Brazil, Mexico, Argentina, Chile, Peru and others).
- The competitive landscape of the market has been examined, with some of the key players being Active Network, Bizzabo Ltd., RegPack Inc., Hubb, Gather Technologies, Eventbrite, EMS Software LLC, XING SE, Cvent, RainFocus Inc., SignUpGenius Inc., Ungerboeck Software International and Hubilo, etc.
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