A recent market study published by Future Market Insights on the event management software market includes a global End-user analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Future Market Insights (FMI) has stated that the global event management software market is expected to rise steadily at a CAGR of 14.1% during the forecast period of 2021 to 2031. Event data is indispensable for event organizers since it helps them monitor social media engagement, attendance, and measure the overall success of any event.
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COVID-19 Paved Way for Growth
The health concerns are increasing around the world and causing significant business impact due to the on-going COVID-19 pandemic – particularly when it comes to delivering events. Since the onset of the epidemic, most events were either cancelled off or postponed. Major conferences such as Mobile World Congress and the HIMSS Global Healthcare Conference & Exhibition are even getting canceled due to the pandemic situations.
“Rising demand for automated solutions amidst event management companies for the simplification of event functionalities on single platform, while reducing operational costs are major factors that are driving developments in the event management software market, especially across developed economies,” says the FMI study.
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Key Takeaways of Event Management Software Market Study
- The cloud based deployment to grow 4.0x of the current market value by the end of 2031
- Increasing penetration of IoT and real-time analytics will drive growth in U.S., enabling it to account for a little below 65% of North America market in 2021
- Double-digit y-o-y growth at over 10% will seal U.K.’s position as a lucrative market within Europe
- Increasing number of events organized in Germany and France, will drive Europe event management software market
- Within East Asia, Japan and South Korea are expected to emerge as strong markets, exhibiting double-digit growth
Rising Demand for Mobile Event Management Applications
The usage of applications is increasing at a tremendous rate with each day passing, and various apps are being considered crucial for most businesses. The event apps are making things quicker, easier and more interactive to the event industry. The increase in the engagement of interactive mobile event applications has been emerging as one of the biggest event trends. Thus users are demanding more event applications offering better quality and services.
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Key questions answered in the report
- How will event management software market expand until 2031?
FMI projects the global event management software market to register a CAGR of 14.1% between 2021 and 2031. - What are the major challenges to event management software market growth?
Integrating event management software with customer relationship management tools or other business functionalities is a complicated process and requires high technical expertise, which is a significant factor, restraining growth of the market. - Who are the leading players in event management software market?
Prominent players operating in the global event management software landscape include InEvent, Inc., Ungerboeck, Eventzilla, Certain, Inc., Hubilo Technologies Inc. and Eventbrite among others. - What are the major trends, impacting the event management software market growth?
Education institutions are increasingly adopting cloud-based event management solutions for organising alumni events, educational conferences and recruitment fairs. Thus cloud-based solutions adoption is gaining traction in the education sector. - Which is the leading event management software market?
North America currently dominates the global event management software market. Within North America, the U.S. is expected to remain the leading market over the coming decade.