Event Management Software
Market
The global event management software market, valued at approximately USD 5.6 billion in
2019, is projected to experience substantial growth, reaching USD 18.4 billion by the end of
2029. This growth reflects a compound annual growth rate (CAGR) of 12.9% from 2022 to
2029. The market expansion is primarily driven by increasing reliance on innovative
technologies, such as gamification, and the rising prevalence of virtual events, a trend
accelerated by the COVID-19 pandemic.
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Gamification Boosts Engagement and Adoption
Gamification has emerged as a powerful tool for event planners and organizers, significantly
enhancing attendee engagement and experience. By tailoring benefits to meet consumer
sentiments, gamification fosters attendee confidence, creates a comfortable environment, and
promotes effective communication. While traditionally utilized for Q&A sessions, social
media engagement, teamwork games, and networking activities, gamification's role has
become more pronounced in recent times. The pandemic has further accelerated the adoption
of gamification in event management software, as virtual events became mainstream post2020. This shift has opened new opportunities for event management companies and
contributed to the robust growth of the market.
Event Management Software: Key Benefits and Integration
The adoption of event management software provides significant advantages for marketers
and organizations. These tools enable real-time data collection, allowing businesses to gain
actionable insights from their events. Integrating event management software with
organizational systems such as marketing automation tools, customer relationship
management (CRM) systems, payment gateways, accounting software, and collaboration
platforms is becoming increasingly common. This integration helps organizations align event
lifecycles with business objectives and gain crucial insights for strategic decision-making.
Additionally, behavioral analysis of event attendees is proving to be an effective method for
decision-making, further driving the expansion of the event management software market.
Demand Trends: Cloud-based Solutions and Service Providers
The demand for event management software remains robust, driven by the growing adoption
of virtual video conferencing and cloud-based solutions. Cloud-based deployment has
become the preferred choice due to its cost-saving benefits and improved IT cost structure.
However, there is also a notable rise in demand for on-premises solutions, which offer
enhanced data security and customization to meet specific business requirements.
The event management services segment continues to see strong demand, as professional
service providers offer expertise in crafting successful events, mitigating security risks, and
optimizing resource utilization. This trend further supports the growth of the event
management software market.
Regional Insights: North America and Asia Pacific
North America held the largest market share in 2020, driven by the presence of prominent
market players such as Bizzabo, Aventri Inc., and Glue Up, as well as a high volume of
public and private events. The region's extensive event landscape, including major music
festivals and educational events, underscores the need for efficient event management
solutions, fueling market expansion.
In contrast, the Asia Pacific region is expected to witness the highest CAGR between 2022
and 2029. This growth is attributed to the increasing preference for technologically advanced
solutions among enterprises in countries like China and India. The region's abundance of
skilled professionals and the proliferation of small and medium enterprises (SMEs) further
contribute to the positive outlook for the event management software market.
Competitive Landscape and Recent Developments
The event management software market is characterized by a competitive landscape with a
variety of growth strategies employed by key players. These strategies include new product
launches, product upgrades, partnerships, agreements, business expansions, and mergers and
acquisitions.
Notable recent developments include Hubilo's launch of a new virtual event platform in April
2020. This platform is designed to assist media and entertainment industry professionals in
overcoming challenges associated with live event cancellations. The platform offers real-time
networking features, enabling attendees to connect with individuals sharing similar interests.
Leading Companies in the Event Management Software Market
Several companies are at the forefront of the event management software market, including:
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Cvent
Aventri
Eventbrite
Ungerboeck
Hopin
Certain
Bizzabo
ACTIVE Network
EventBooking
Airmeet
These companies are driving innovation and shaping the future of the event management
software industry.