Event management software is a solution that enables organizers and planners to manage events effectively. It assists in tasks such as venue research, online registration, payment collection, scheduling and agenda management, mailing list management and others. The software helps in automating repetitive tasks thereby saving time and effort. It is widely used for conferences, seminars, trade shows, and other business events. The adoption of event management software is growing owing to benefits such as enhanced collaboration, data consolidation, transparent visibility across events, and easy maintenance of budgets and planning.
The Global Event Management Software Market is estimated to be valued at US$ 12,251.7 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Event Management Software are Cvent, Inc., Certain, Inc., Zoho Corporation, Zerista, etouches Inc., Gather Technologies Inc., EventBrite Inc., EventZilla, Xing Events, SocialTables ̧ Bizzabo Inc., and Ungerboeck Software International.
The key opportunities in the market include growing demand for cloud-based event management solutions and mobile applications for event management. Adoption of AI and analytics is also opening opportunities for targeted advertising and improved customer experience.
Technological advancements such as integration of virtual and hybrid event capabilities, collaboration with Zoom, Microsoft Teams and other platforms, analytics and reporting features and automated workflows using AI are fueling the growth of the market.
Market drivers
The growing adoption of cloud-based services and increasing number of business events globally are driving the demand for event management software. Cloud deployment enhances collaboration and enables real-time access to event related data from anywhere. It also reduces IT costs associated with hardware, software and technical staff. Furthermore, rising emphasis on marketing and promotional activities by organizations has increased the scope of events thereby driving the uptake of event management solutions.
Challenges in Event Management Software Market
The event management software market is facing many challenges due to the dynamic nature of the industry and changing buyer behavior. Managing massive events with hundreds or thousands of attendees pose significant operational challenges. Ensuring efficient registration management, scheduling, venue management and other processes is challenging for event organizers. Integrating different third party systems for payment, ticketing, CRM etc and capturing valuable attendee data is another hurdle. Keeping up with the latest technological developments for offering enhanced features is also a challenge for software providers. Rising customer expectations and demand for personalized experiences further increase pressure on event professionals.
SWOT Analysis
Strength: Provides end to end solution for planning, registration, payments and analytics. Helps reduce manual work and errors.
Weakness: Integrating with different third party apps can be complex. Customization needs require additional costs.
Opportunity: Growing events industry worldwide especially in developing markets. Demand for virtual and hybrid events post covid will boost market.
Threats: Competition from open source and low cost alternatives. Changing tech landscapes may make some products obsolete quickly.
In terms of value, the event management software market is currently concentrated in North America owing to early adoption. The largest regional market is the U.S followed by Canada. However, the Asia Pacific region is expected to be the fastest growing market during the forecast period driven by increasing spending on events and live experiences in countries like China, India and Southeast Asian nations. As disposable incomes rise in developing Asian economies, events industry is booming which will boost adoption of management software solutions. Europe is another major regional market but growth rates may be slower than Asia due to market maturity.
The growing events industry worldwide especially in Asia Pacific region presents substantial opportunities for event management software providers during 2023-2030 forecast period. Countries like China, India and Southeast Asian nations are witnessing a boom in the number and scale of exhibitions, conferences, concerts and other live experiences. This is increasing demand for sophisticated software solutions to efficiently manage all aspects of event planning from registration to venue management to post event analytics. The Asia Pacific region is thus projected to be the fastest growing regional market for event management software.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
