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The event management as a service market size is forecast to increase by USD 576.5 million at a CAGR of 12.1% between 2023 and 2028.
The event management as a service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The event management industry is experiencing significant growth due to the digitalization of core processes, shifting customer preferences, and the increasing number of events such as product launches, conferences, seminars, company outings, dinners, and team-building activities. End-users, including private organizations, businesses, corporations, trading associations, educational institutions, and political parties, are turning to event management as a service to streamline event logistics and enhance operational efficiency, resulting in cost savings of up to 30%. These services enable organizations to handle all aspects of event planning, from research and venue selection to transportation, catering, and entertainment arrangements. With the rise of event management software, digital tools, cloud-based platforms, and mobile applications, event managers can offer specialized tools and complex event strategies to deliver personalized experiences and real-time interaction.
Additionally, sustainability initiatives, regulatory compliance, economic downturns, seasonality, security issues, and environmental factors are influencing the market's growth. The future of event management lies in automation of tasks, email notifications, feedback collection, and real-time feedback mechanisms, as well as data-handling attributes, AI-powered chatbots, and intelligent virtual assistants to enhance the overall experience for attendees. Small businesses and organizations with tight budgets benefit from the low maintenance costs and subscription charges, while cloud service providers offer virtual storage, backup-restore facilities, and virtual server facilities to ensure seamless service delivery. New features, such as gamification, networking games, and social media engagement, are also driving innovation In the event management market.
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The Corporate segment was valued at USD 476.10 million in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to the increasing adoption of technology by industries, particularly marketing and telecom organizations. This trend is driven by the prevalence of global conferences, product launches, and exhibitions. Virtual events, facilitated by event management tools, have become increasingly popular, enabling cost savings and increased registrations. Orlando, Florida, Las Vegas, Nevada, and Chicago, Illinois, are the most popular destinations for meetings and events in North America. Corporate spending, shifting customer preferences, sustainability initiatives, regulatory compliance, emerging markets, and economic downturns are key factors influencing the market. Event management software, digital tools, cloud-based platforms, and mobile applications offer specialized capabilities, complexity management, productivity enhancements, and security features.
Event strategies, real-time interaction, personalized experiences, and real-time feedback mechanisms are essential for delivering an overall positive experience. Sustainability, eco-friendly methods, and data-handling attributes are increasingly important considerations for end-user organizations and cloud service providers. The market is expected to continue growing, with new features such as gamification, automation, and AI-powered chatbots enhancing the attendee experience.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for online registration and payment is the key driver of the market.
The event management as a service market is experiencing significant growth, driven by the increasing demand for convenient online registration and payment solutions. This trend is particularly prominent in North America, where technology adoption is high and event organizers seek to streamline the event planning process. Another emerging trend is the use of iBeacons for event management, enabling personalized experiences and real-time communication with attendees. However, the market also faces challenges, such as the threat from open-source event management software, which can offer cost-effective alternatives to commercial solutions. To remain competitive, market players must focus on providing value-added services and innovative features to differentiate themselves. Overall, the event management as a service market is poised for continued growth, driven by technological advancements and evolving customer expectations.
The growing preference for convenience in registration and payment processes is significantly influencing business operations in various industries. More consumers are turning to online channels to register for services and make transactions, leading to an increase in demand for digital solutions. This trend is driven by the desire for speed, ease, and accessibility that online platforms offer. Companies are responding by investing in advanced technologies and user-friendly interfaces to meet this demand and provide a seamless experience for their customers. The shift towards digital registration and payment systems is expected to continue, as technology continues to evolve and consumer expectations rise. Businesses that fail to adapt may find themselves at a disadvantage in today's market. To remain competitive, it is essential for organizations to prioritize the development and implementation of efficient online registration and payment solutions.
Emergence of iBeacons for event management is the upcoming market trend.
The event management as a service market is experiencing significant growth, driven by the increasing demand for convenient online registration and payment solutions. This trend is particularly prominent in North America, where technology adoption is high and event organizers seek to streamline the event planning process. Another emerging trend is the use of iBeacons for event management, enabling personalized experiences and real-time communication with attendees. However, the market also faces challenges, such as the threat from open-source event management software, which can offer cost-effective alternatives to commercial solutions. To remain competitive, market players must focus on providing value-added services and innovative features to differentiate themselves. Overall, the event management as a service market is poised for continued growth, driven by technological advancements and evolving customer expectations.
iBeacons have gained significance in event management due to their ability to provide precise location-based information and interactions to attendees, enhancing their experience and engagement. These Bluetooth Low Energy (BLE) devices enable targeted marketing, wayfinding, and real-time analytics, contributing to the optimization of event logistics and resource allocation.
Threat from open-source event management software is a key challenge affecting the industry growth.
The event management as a service market is experiencing significant growth, driven by the increasing demand for convenient online registration and payment solutions. This trend is particularly prominent in North America, where technology adoption is high and event organizers seek to streamline the event planning process. Another emerging trend is the use of iBeacons for event management, enabling personalized experiences and real-time communication with attendees. However, the market also faces challenges, such as the threat from open-source event management software, which can offer cost-effective alternatives to commercial solutions. To remain competitive, market players must focus on providing value-added services and innovative features to differentiate themselves. Overall, the event management as a service market is poised for continued growth, driven by technological advancements and evolving customer expectations.
Open-source event management software poses a significant challenge to traditional event management solutions, with an increasing number of businesses adopting these cost-effective and flexible alternatives. These software offerings provide comprehensive features, enabling organizations to manage their events efficiently and effectively, from registration and ticketing to marketing and analytics. The adoption rate of open-source event management software is on the rise, offering a viable option for businesses seeking to streamline their event planning processes and reduce costs.
The event management as a service market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the event management as a service market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, event management as a service market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The event management industry continues to evolve, shaped by various market dynamics that influence the way organizations plan and execute events. One significant trend is the shifting preferences of customers, who increasingly demand sustainable and compliant events. This has led to an increased focus on sustainability initiatives and regulatory compliance. Emerging markets and economic downturns present both opportunities and challenges for event management. In some cases, these markets offer new opportunities for growth, while in others, they present regulatory restrictions that must be navigated. Seasonality and security issues also play a role, with event organizers needing to plan for potential disruptions and ensure the safety of attendees.
Environmental factors are another consideration, with event managers needing to balance the complexity of events against the importance of providing a positive overall experience. The type and size of the client, as well as the event type, will also impact the strategies used for productivity and engagement. Digital tools and cloud-based platforms have become essential for event management, offering functionality, security, and real-time interaction. Event managers can leverage specialized tools, such as AI-powered chatbots and digital assistants, to handle guest inquiries and provide customized suggestions. Automation technologies, such as email notifications and feedback collection, can help streamline processes and improve the attendee experience.
Small businesses and organizations with tight budgets may require low-maintenance solutions, such as on-premise software or virtual storage and backup-restore facilities. Service delivery and virtual server facilities are also important considerations for cloud service providers and end-user organizations. New features, such as gamification, social media engagement, and networking games, can help create a relaxed atmosphere and foster a common purpose among attendees. Effective communication and innovative gamification methods can also help overcome communication hurdles and provide personalized experiences for varied audiences. Event organizers must make informed choices when it comes to software solutions, taking into account factors such as licensing expenses, customization, coaching, and ongoing upkeep.
Subscription charges and payment gateways are also important considerations, as is the event website and ticket registration options. Sustainability and eco-friendly methods are becoming increasingly important, with digital applications and paperless ticketing helping to reduce waste. Virtual settings and presentations, as well as outings and games, offer alternative ways to engage attendees and provide a memorable experience. In , the event management industry is shaped by a range of market dynamics, from shifting customer preferences and sustainability initiatives to regulatory compliance and economic factors. Digital tools and cloud-based platforms offer new opportunities for productivity and engagement, while the importance of effective communication and personalized experiences remains a constant. By staying informed and adapting to these trends, event managers can deliver successful events that meet the needs of their clients and attendees.
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.1% |
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Market growth 2024-2028 |
USD 576.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.92 |
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Key countries |
US, China, UK, Canada, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by End-user
9 Market Segmentation by Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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