Market Highlights
Market Research Future (MRFR) in its new report projects that the global market for event management software will surge at 11.39% CAGR during the forecast period (2016-2022). The driving forces behind the growth of event management software market include upsurge in expenditure related to event management, growing adoption of cloud platform, and mount in online education programs. Despite the apparent growth, some factors namely the lack of technical expertise and the ever changing consumer needs are likely to undermine the market potentials.
The event management software provides the plan for a successful event and then some. Event planning, venue and catering booking, invitation, seating arrangement, content as well as various outsourcing management are the attributes of event management software. An advanced penetration of cloud platforms, increase in number of trade shows and other corporate events is giving rise to the demand for event management tools and related software solutions. As per MRFR’s report, the global market for event management software is estimated to grow from $7.57 billion in 2016 to $14.45 billion by 2025.
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Segmentation:
On the basis of software type, the global market for event management software has been segmented into analytics software, venue sourcing, event registration, on-site technology and event marketing. In 2016, the event registration segment surpassed a market valuation of USD 2 Bn. During the assessment period, the segment is expected to exhibit a double-digit CAGR of 12.73%. On the basis of deployment, the market has been segmented into On-premise, and cloud-based. The cloud based segmnetd is estimated to reach a market valuation in excess of USD 10 Bn towards the end of 2022, reflecting a CAGR of 14.75%. Based on application, the market has been segmented into corporate government, education, and association. The corporate segment is expected to capture 13.94% CAGR from 2016 to 2022 and reach a valuation of USD 6.68 Bn.
Regional Analysis
On the basis of region, North America has an upper hand in the global event management software Market with the largest market share. It is expected to grow exponentially over $6.95 billion by 2022. The Asia-Pacific market is expected to grow at a CAGR of 9.31% to grow from $1.32 Bn in 2016 to $2.48 Bn by 2022. Meanwhile, the market in Europe is expected to grow at 11.23% CAGR between 2016 and 2022.
Competitive Landscape
Some of the key companies operating in the global market for event management software include Etouches (U.S.), Lanyon Solutions Inc. (U.S.), Certain Inc. (U.S.), Ungerboeck software International (U.S.), Active network LLC (U.S), Cvent Inc. (U.S.), Eventbrite (U.S.), Bizzabo (U.S.), Regfox LLC (U.S.), and Pulse network (U.S).
Industry News
Cvent has recently acquired QuickMobile, the Vancouver based mobile event apps specialist. The combined entity will reportedly serve more than 25,500 customers. The move also allows Cvent to increase its product support professionals. After QuickMobile’s acquisition, Cvent’s global workforce has crossed 3,100 employees.
Eventbrite has completed the acquisition of Ticketea, a Spanish ticketing platform. With this, Eventbrite’s now find itself in a better position to compete in the market. Creative approach to tackling various challenges, has helped both the companies achieve impressive brand equity in Spain, and also the broader southern European market.
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Global Event Management Software Market: By Software Type (Analytics Software, Event, Registration, Event Marketing, On-site Technology, Venue Sourcing and others), By Deployment (On-Premise and Cloud), By Application (Corporate, Education, Association, Government and others) - Forecast till 2025
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