(MENAFN – GetNews) Event management software market by component (software (event registration and ticket sales, content management) and services), implementation type, organization size, end user (event organizers and planners, government) and region – global forecast to 2026
The global size of the Event Management Software market is expected to grow at a compound annual growth rate (CAGR) of 10.0% over the forecast period to reach USD 6.4 billion by 2026, from USD 3.6 billion in 2020 Increased adoption of the cloud, shorter time and cost and increased need for business agility are expected to drive demand for event management software offerings around the world.
The market is expected to be driven by the need for improved event management software
The event management software refers to a wide variety of software products used in the management of trade shows, conferences and events. It helps improve the quality of events and provides better visibility for event organizers. Managing events requires many hours of hard work of existing resources; Therefore, in order to streamline the planning, planning and event marketing processes, various organizations choose the event management software, which helps them to facilitate reliable and excellent services to the visitors and customers at a lower cost. The event management software segment is further divided into venue management software, event registration and ticket sales software, event planning software, event marketing software, analysis and reporting software, visitor management software, content management software, on-site technology and other (resource planning software and catering software).
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Increased scalability and flexibility drive adoption of cloud-based deployment
Cloud-based services are delivered directly through the cloud-deployed network connectivity. These services help reduce overall costs while providing highly flexible and scalable access to event management solutions through the IT infrastructure hosted by cloud service providers. Companies are putting event management solutions in the cloud to improve mobility and decentralize data storage and computing. Security is a critical issue that limits the adoption of cloud services. However, this problem is gradually being eradicated by running rigorous security testing to the highest standards by third parties. Due to various benefits, such as the pay-as-you-go option and lower installation and maintenance costs, several companies are switching from the on-premise event management software to the Software-as-a-Service (SaaS) -based software.
The event management software market includes major vendors such as Cvent (US), Aventri (US), Eventbrite (US), XING Events (Germany), Ungerboeck Software (US), Bizzabo (US), Certain (US), Attendify (US) , RainFocus (US), ACTIVE Networks (US), Eventzilla (US), Meeting Evolution (US), EventMobi (Canada), Zoho Corporation (India), Regpack (US), EventBooking (US), Bitrix24 (US), Arlo (UK), WebMobi (US), Tripleseat (US). Hubilo (US), Circa (US), Hubb (US), Accelevents (US), Glue Up (US), idloom (Belgium), Eventdex (US), Event Temple (Canada), eventuosity (US) and Whova (US) ). The major players have implemented various growth strategies to expand their global presence and increase their market share. Major players such as Aventri, Cvent, XING Events, Eventbrite and ACTIVE Network have adopted many growth strategies, such as new product launches, acquisitions and partnerships, to expand their product portfolios and further grow in the event management software market.
Aventri has worked hard to become an exclusive event management software supplier. It is primarily intended to improve the technology user experience for both personal and commercial customers. The company is committed to providing customers with economical and convenient solutions integrated with the latest technological services. It has a strong presence in the event management software market, with robust solutions and services and a strong ecosystem of strategic partners. These strategic partners include Smart Meetings, Meeting Plus Moore, Conference Direct and more. The company focuses on developing new and efficient solutions to increase its service offering in the field of event management software. The customer base is spread across various vertical industries, including manufacturing, IT, BFSI and telecom. Its strong presence around the world is one of the key drivers of its high share of the event management software market. In addition, Aventri quickly adapted to the changing situation resulting from the COVID-19 outbreak and began helping customers in the most creative ways. Aventri offered its registration and website solutions free of charge to those looking for easy, fast, and safer ways to deliver those services and much more to their communities. Aventris registration and website solutions allow people to:
- Set up online portals to easily accept requests for services
- Sign up for specific meal or grocery pick-up times
- Provide volunteer information
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Cvent is a leading player in the event management software market as it offers a strong event management offering, including solutions and products. The company is currently focused on serving its customers with highly competent technology-assisted products and services in event marketing, visitor management, vendors and venue management to support the competition. The growing demand for online event management solutions is also gaining traction and benefiting strong players such as Cvent. The organization is committed to delivering innovative solutions and enhanced event operations, which make its customers satisfied. The key factors responsible for large market shares are a wide geographic reach, strong distribution channels and an extensive range of event management solutions. Cvent is taking initiatives to help customers during the COVID-19 pandemic. The company offers creative and innovative solutions to its customers to organize virtual events. In addition, the company launched a global database of health and safety information on locations within the Cvent network and announced the launch of standardized COVID-19-related business transient inquiries for safer and more efficient sourcing.
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