by The global Event Management Software Market is estimated to be valued at US$ 12,251.7 million in 2023 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Event management software refers to the application of technology to assist event planners and organizers in managing various aspects of an event, including registration, ticketing, venue selection, scheduling, and marketing. This software offers numerous advantages, such as increased efficiency, automated processes, real-time data tracking, improved attendee experience, and enhanced event analytics. With the rising complexity and scale of events, there is a growing need for such software solutions to streamline event planning and management processes, thereby driving the growth of the event management software market.
Market key trends:
One key trend in the event management software market is the adoption of cloud-based event management software solutions. Cloud-based event management software offers several benefits, including easy accessibility, scalability, cost-effectiveness, real-time collaboration, and data security. It allows event organizers to manage their events remotely and provides seamless integration with other business applications. Moreover, with the increasing popularity of virtual and hybrid events, cloud-based event management software is gaining traction as it enables easy virtual event planning, live streaming, and attendee engagement. This trend is expected to drive the growth of the event management software market during the forecast period.
PEST Analysis:
Political: The political landscape plays a vital role in the event management software market. Government policies and regulations regarding data privacy, intellectual property, and online transactions can impact the operations and growth of software providers. Compliance with these regulations is essential to avoid legal issues and maintain customer trust.
Economic: The economic factors influencing the event management software market are primarily related to the purchasing power and budget allocation of event organizers. Economic stability and growth directly contribute to increased spending on events, leading to higher demand for software solutions. Additionally, cost-effectiveness and return on investment are important considerations for event organizers when selecting software providers.
Social: The social dynamics of the event management software market are centered around changing consumer preferences and the integration of technology in event planning. The increasing importance of personalized experiences, customization options, and seamless event management has driven the adoption of software solutions. Moreover, the rising popularity of social media platforms has influenced the promotion and marketing strategies of events, creating a need for integrated social media capabilities in software solutions.
Technological: Technological advancements are a vital factor shaping the event management software market. The availability of new technologies, such as artificial intelligence, machine learning, and data analytics, enables software providers to offer innovative features and functionalities. Integration with other software systems, such as CRM and marketing automation tools, also enhances the efficiency and effectiveness of event management processes.
Key Takeaways:
The Global Event Management Software Market Growth is expected to witness high, exhibiting a compound annual growth rate (CAGR) of 11.8% over the forecast period (2023-2030). This growth can be attributed to the increasing adoption of digital solutions and the growing demand for seamless event management across various industries.
Regionally, North America is expected to be the fastest-growing and dominating region in the event management software market. The region’s strong technological infrastructure, higher adoption of new technologies, and the presence of key market players contribute to its growth. Moreover, the region’s well-established event management industry and increasing number of corporate events drive the demand for software solutions.
Key players operating in the event management software market include Cvent, Inc., Certain, Inc., Zoho Corporation, Zerista, etouches Inc., Gather Technologies Inc., EventBrite Inc., EventZilla, Xing Events, SocialTables, Bizzabo Inc., and Ungerboeck Software International. These companies offer a wide range of software solutions catering to different event management needs and are focused on innovation, strategic partnerships, and expansions to maintain their market presence and gain a competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
