Event Management Software Market by Deployment, Component, and Geography - Forecast and Analysis 2023-2027

Event Management Software Market Forecast 2023-2027

The Global Event Management Software Market size is estimated to grow by USD 2.42 billion at a CAGR of 7.76% between 2022 and 2027. The market's expansion is contingent on various factors, such as an increasing demand for low total cost of ownership (TCO), the growing acceptance of real-time event management systems, and the rising popularity of cashless payment methods. Nonetheless, certain significant obstacles impeding market growth include uncertainties concerning return on investment, concerns related to data security, and the threat posed by open-source event management software. On the positive side, noteworthy trends propelling market growth are the emergence of chatbots, the integration of virtual reality (VR) in event management, and the heightened utilization of social media. 

What will be the size of the Market During the Forecast Period?

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The market is witnessing a significant surge due to the increasing demand for digital solutions in organizing events. With features like event registration, ticketing, attendee management, and analytics, these software solutions are revolutionizing the way events are planned and executed. Worldwide demand for efficient event planning and management has led to the development of advanced conferencing, logistics, and marketing tools. The conferencing feature enables virtual events, making it possible to reach a global audience. The software's analytics capabilities provide valuable insights into attendee behavior and preferences, enabling event organizers to make informed decisions.

Exhibit houses, cultural organizations, educational institutions, and corporations are all embracing it to streamline their event processes. The software's ability to handle large-scale events and provide customizable solutions caters to the unique needs of various industries. Exhibitors benefit from lead retrieval and lead management tools, while attendees enjoy a seamless registration and check-in process. The software's scalability and flexibility make it an essential investment for any organization planning events. In conclusion, Event Management Software is a must-have tool for event organizers in today's digital age. Its features cater to the needs of various industries and provide valuable insights, making event planning and execution more efficient and effective.

Market Dynamics and Customer Landscape

In today's digital world, this Software has become an integral part of organizing successful events. With the increasing number of events, the demand for efficient and effective event management solutions has surged. The market is thriving, with numerous players offering various features to cater to diverse client needs. These software solutions enable event organizers to manage every aspect of an event, from registration and ticketing to marketing and analytics. They offer real-time reporting and analytics, allowing event managers to make data-driven decisions. Social media integration is another key feature, enabling event promotion and engagement with attendees. Moreover, the software can handle multiple events simultaneously, making it an ideal solution for organizations hosting numerous events throughout the year.

The market is expected to grow significantly in the coming years, driven by the increasing number of events and the need for streamlined event management processes. Branding and marketing are also crucial aspects of event management, and many software solutions offer built-in marketing tools to help event organizers reach a wider audience. These tools include email marketing, social media marketing, and website integration. In conclusion, Event Management Software is a must-have tool for event organizers looking to streamline their processes, reach a wider audience, and deliver successful events. The market for this software is growing rapidly, with numerous players offering features tailored to diverse client needs. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key  Market Driver

The increasing adoption of cashless payment methods is notably driving market growth. Previously, wristbands and other wearable items were used at events to separate attendees into different types or groups. Wearables are currently employed in events to distinguish attendees and complete transactions. Attendees can load money onto a wearable using cashless payment systems, which they can then use to purchase goods or services at an event. As a result, one will not need to carry a wallet. The extra time spent waiting to pay is eliminated when these wearables are used. As a result, it is anticipated that the event will be seamless as a whole.

The entire cashless payment process resembles Samsung Pay, Apply Pay, and Visa Checkout in many ways. The only distinction is that prepaid account information, which is stored in the RFID chip in the wearable, is used to complete transactions rather than phone numbers. Cashless transactions make use of an app that tracks spending and replenishes the balance. Additionally, it aids attendees in limiting their event spending. Thus, such factors are expected to drive the global market during the forecast period.

Significant Market Trends

The emergence of chatbots is an emerging trend in the market. The planners can receive assistance from a chatbot with artificial intelligence (AI). A chatbot can help with an event in a variety of ways, including responding to frequent queries from attendees, gathering feedback, encouraging interaction, and sending out tailored notifications. Any sudden schedule changes, speaker cancellations, or room changes can be announced to attendees using a chatbot.

Chatbots are appropriate for use at conferences and events because they are user-friendly and provide app-like features without requiring app downloads. On the other hand, organizers can deliver mass personalization using chatbots and do so while saving time and money. Thus, chatbots in have the potential to improve the experience of attendees and give organizers smarter event management tools. This is expected to increase significant growth of the market in focus during the forecast period.

Major Market Challenge

Data security-related issues are major challenges impeding the market growth. The safety issues, just like many data integration and quality applications. As they are more affordable and accessible, cloud-based solutions are preferred by some businesses over on-premises ones. If they have confidence in the service provider, businesses are more likely to move their data to the cloud. As a result, a lot of users are worried about the data security regulations governing cloud-based solutions.

In cloud-based solutions, there is a high risk of information leakage, which leads to manipulation. Lack of data transparency is also a growing concern for many. This may result in a number of security lapses and legal troubles involving infrastructure, identity management, risk management, regulatory and legislative compliance, and auditing. In addition, the misuse of data by IT professionals who use the software and data loss are issues that many businesses are worried about. Thus, these factors are expected to hamper the growth of the market during the forecast period.

Customer Landscape

The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Global Market Customer Landscape

Market Segmentation

The market is experiencing significant growth, particularly in the realm of virtual events. This expansion is driven by the need for effective data management and real-time data analysis in large participant populations. The use of cloud-based platforms offers infinite data storage capacity, eliminating the risk of insufficient capacity. SaaS pricing models reduce operational and investment risks for SMEs and event organizers. Key factors fueling this growth include digital infrastructure, Internet penetration, and brand marketing opportunities. Virtual events enable overcoming communication hurdles and cultural variations in worldwide conferences, exhibits, and cultural events. Technology trends such as AI, ML, chatbots, digital assistants, automation technologies, AR, and VR enhance the event experience. Cloud-based software offers advantages over on-premise solutions, including payment gateways, sustainability, online dashboards, and competitive benchmarking. Cloud service providers leverage advanced technologies to cater to diverse event needs and demographics. Opinions and behavior analysis provide valuable insights for event managers. Despite these benefits, competition remains fierce, with providers continually innovating to meet the evolving demands of the market.

By Deployment

The market share growth by the cloud-based segment will be significant during the forecast period. The success of any event depends on effective time management. Infinite data storage is a feature of cloud-based, which provides a fix for the problem of insufficient capacity.

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The cloud-based segment was valued at USD 2.65 billion in 2017 and continued to grow until 2021. A major factor driving the segment growth is the company's ability to offer a software-as-a-service (SaaS) pricing model owing to cloud-based software lowering operational and investment risks. Moreover, the adoption of the cloud-based deployment model has made software more affordable. The widespread use of the internet can be held responsible for the rising adoption of cloud-based solutions. Thus, owing to all these factors, the global market is expected to grow during the forecast period.

Key Regions

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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Global IT and retail companies are primarily based in North America. The market in the region is anticipated to expand due to an increase in trade shows, international conferences and summits, and sporting events during the forecast period. The vast majority of marketing and telecom businesses in this region also use to organize events. Without technology, event managers would find it difficult to open posh hotels and host famous guests. Therefore, the demand from event planners for an end-to-end event-conducting solution has been sparked by the growing number of events from marketing and telecom organizations.

The market in North America is thriving due to the increase in virtual events, conferences, and exhibits for IT and retail organizations. Data management and real-time data analysis are crucial data-handling attributes for event organizers. Social media integration, gamification, and digital infrastructure are essential for engaging SME participants. Internet penetration and brand marketing drive competition in the technology-driven market. Event managers use cloud-based software, SaaS, and on-premise solutions for managing participant population demographics, opinions, and behavior. Cultural events face communication hurdles and foreign logistics challenges, necessitating the use of AI, ML, chatbots, and digital assistants for automation. Virtual events, cloud-based platforms, and payment gateways prioritize sustainability and offer online dashboards for competitive benchmarking.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Certain Inc. - The key offerings of the company include event management software for virtual, hybrid, in-person, and on-demand events.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 5Touch Solution Inc.
• Arlo Software Ltd.
• Aventri Inc.
• Bizzabo
• CadmiumCD LLC
• Cvent Inc.
• Eventbrite Inc.
• EventGeek Inc.
• Eventzilla Corp.
• Fortive Corp.
• Global Payments Inc.
• Glue Up
• Hubb
• MIE Software Pty Ltd.
• New Work SE

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 market 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.

Market Analyst Overview

In today's digital world, Event Management Software has become an essential tool for organizing and executing successful events. The market is witnessing significant growth due to the increasing demand for efficient and streamlined event planning solutions. With features like registration management, event marketing, sponsor management, and analytics, these software solutions cater to various industries such as education, healthcare, hospitality, and more. The use of Social Media Integration and Mobile Applications further enhances the reach and engagement of events. Comprehensive event management software like ours offers customizable solutions, ensuring a personalized experience for every client. Our goal is to provide a seamless event planning process, from invitation to follow-up, making your event a memorable success.

The market caters to a diverse array of stakeholders, including event organizers and planners across various industries such as sports, gaming, and entertainment events. Leveraging historical data and innovative tools, both large-scale planners and small-scale planners can streamline their operations, ensuring seamless execution of events. From professional organizers to freelance organizers, individuals and organizations alike benefit from the convenience and efficiency offered by application-based event management solutions. 

The market is witnessing a transformative shift with the integration of cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR) into traditional event planning processes. Organizations are increasingly adopting on-premise software solutions and online dashboards to streamline their operations. Both third-party planners and in-house planners are leveraging these innovative tools to enhance their efficiency and productivity. The market is characterized by a growing demand for innovations, driving vendors to develop advanced features and functionalities to meet the evolving needs of the industry.

Segment Overview

The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Deployment Outlook 
  • Cloud-based
  • On-premise

• Component Outlook 
  • Software
  • Services

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Software Market Scope
Report Coverage	Details
Page number	155
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.76%
Market growth 2023-2027	USD 2.42 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.32
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 45%
Key countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	5Touch Solution Inc., Arlo Software Ltd., Aventri Inc., Bizzabo, CadmiumCD LLC, Certain Inc., Cvent Inc., Eventbrite Inc., EventGeek Inc., Eventzilla Corp., Fortive Corp., Global Payments Inc., Glue Up, Hubb, MIE Software Pty Ltd., New Work SE, RainFocus LLC, Ungerboeck, Whova Inc., and Zoho Corp. Pvt. Ltd.
Market dynamics	Parent market trends and analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the size of the  market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Market growth analysis across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of  market companies

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