Event management software provides tools for planning, managing, and optimizing events and conferences. Growing popularity of virtual and hybrid events is driving the demand for advanced digital event solutions that allow attendees to interact online. Event management platforms offer features such as attendee check-ins, e-invitations, online ticketing, session scheduling, digital networking, and lead retrieval. This helps organizers run successful virtual or hybrid experiences with remote engagement capabilities. The global Event Management Software Market is estimated to be valued at US$ 12,251.7 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The shift towards virtual and hybrid events is one of the major trends witnessed in the event management software market. During the COVID-19 pandemic, in-person gatherings were halted as a precautionary measure to prevent the spread of the virus. This led to a surge in demand for digital solutions that enable remote participation. Software providers have responded by developing advanced virtual event platforms with features such as live video streaming, virtual networking, and sponsorship booths. They offer intuitive interfaces that emulate the physical conference experience online through interactive networking and engagement tools. This has positioned event management platforms as an attractive solution for organizers looking to reach a wider audience through hybrid event formats even in the post-pandemic period.
SWOT Analysis
Strength: Event management software allows event organizers to efficiently plan, market, and track events. It streamlines processes like registration, invoicing, venue coordination, and more.
Weakness: Transitioning to new event management software requires training staff on the new system. Integrating the software with other tools used by an organization can also be challenging.
Opportunity: The rise of hybrid and virtual events during the pandemic has increased demand for advanced online event features in management software. Vendors are enhancing their platforms to support the evolution of digital-first events.
Threats: Free or low-cost event apps and tools offer basic functionality and pose price competition. Established software companies face threat of new entrants with innovative offerings.
Key Takeaways
The global event management software market is expected to witness high growth over the forecast period of 2023 to 2030. The market grew at a CAGR of 11% between the year 2020 to 2023 and is anticipated to grow further driven by growth in virtual and hybrid events.
Regional analysis comprises- North America currently dominates the market, with the largest share of over 35% in 2023. rapid digitization and presence of key vendors give the region an edge. However, Asia Pacific is expected to witness the highest growth during the forecast period due to rise of events industry in the region.
Key players related content comprises- Key players operating in the event management software market 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. Cvent, Inc. and Certain, Inc. captured majority market share in 2023 owing to their comprehensive product portfolios and global presence. Newer players are focusing on specialized solutions and customer experience to gain market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it