The global Event Management Software Market size is poised to surpassed $7.0 billion in 2021 and is poised to reach $14.1 billion by 2026, at a CAGR of 14.9% during the forecast period, according to new report by MarketsandMarkets.
The Event Management Software Market is fuelled by the increase in demand to capture actionable business insights from events. With the growing competition in the global market, marketers are continually striving to harness data for actionable insights. The event management software enables marketers to leverage the benefits of real-time data for extracting actionable business insights from events required to drive organizational growth. It also helps organizations capture and analyzes attendees’ behavior, which helps them make effective business decisions.
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By Organization Size, Large Enterprises segment to hold the larger market size during the forecast period
Under Organization Size, the Large Enterprises segment is projected to hold the larger market size in 2021. it helps organizations capture and analyzes attendees’ behavior, which helps them make effective business decisions. Large enterprises control complex systems and software. The events held by large enterprises are relatively larger and more frequent as compared to SMEs. Therefore, the adoption of event management software in large enterprises is higher as compared to SMEs.
By End User, the Event Organizers and Planners segment to grow at the highest CAGR during the forecast period
Among the End Users, the Event Organizers and Planners segment is expected to grow at the highest CAGR during the forecast period. Event organizers and planners help organizers in the management of the complete event life cycle. It also manages the entire booking process, from inquiry to confirmation of booking and occasions, including ceremonies, weddings, concerts, and social functions. Clients want to focus on their core business while outsourcing the event management to event organizers and planners for managing events efficiently and successfully.
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By region, North America to account for the largest market size during the forecast period
North America is one of the most technologically advanced regions in the world. The region has always been technologically ahead in terms of the adoption of advanced technologies due to high awareness among enterprises regarding the benefits and presence of expertise among the workforce to develop innovative solutions across all technology segments. The event management software market is another technological segment where enterprises in North America have stayed ahead in the curve to enhance sales and marketing strategies. This growth can be attributed to organizations’ shift from on-premises to cloud-based solutions and services, along with the adoption of digital business strategies. North America has also witnessed the earliest adoption of cloud and mobile technologies, which has been a significant booster for adopting event management software solutions to improve end-to-end customer experience.
Major vendors in the Event Management Software Market include Cvent (US), Aventri (US), Eventbrite (US), Ungerboeck (US), Hopin (UK), XING Events (Germany), Bizzabo (US), Certain (US), RainFocus (US), and ACTIVE Network.
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