GVR Report cover Event Management Software Market Size, Share & Trends Report

Event Management Software Market Size, Share & Trends Analysis Report By Component (Software, Service), By Deployment Type, By Organization Size, By Application, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Oct, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-365-2
  • Format: Electronic (PDF)
  • Historical Data: 2018 - 2019
  • Number of Pages: 120

Report Overview

The global event management software market size was valued at USD 5.84 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.5% from 2021 to 2028. Substantial increase in the number of entertainments, gaming, and sports events being organized over the past few years and subsequently, the growing need for software solutions that can streamline the management of events are some of the factors that are expected to drive the growth of the market over the forecast period. The demand for event management software is anticipated to increase in the post-COVID-19 era as well, as both SMEs and large enterprises gradually migrate their IT infrastructure to cloud networks to enhance business continuity and improve business operations.

U.S. event management software market size, by deployment type, 2018 - 2028 (USD Billion)

Event planners and organizers are using gamification as a tool to engage attendees. Gamification of events allows organizers to enhance the experience for attendees. Gamification works on the mechanism of tailoring the benefits to the sentiments of attendees to boost the attendees’ confidence, create a relaxed atmosphere, generate a feeling of common purpose, and ensure easy and effective communication. Event organizers are typically using innovative gamification methods, such as Question and Answer (Q&A) engagement, social media engagement, teamwork games, social programs, and networking games. The outbreak of the COVID-19 has been particularly driving the adoption of event management software. A paradigm shift has been evident in the way conferences and events are being organized in the wake of the outbreak of the pandemic. Virtual events and conferences witnessed a significant rise, particularly in 2020. The growing preference among enterprises to host virtual events is opening lucrative opportunities for event management companies to expand their business, thereby driving the growth of the market over the forecast period.

For marketers, event management software can potentially help in leveraging real-time data to mine actionable business insights from events and further utilize those insights to drive organizational development. As such, integrating event management software with various organizational systems, including marketing automation software, Customer Relationship Management (CRM) systems, payment gateways, accounting software, and collaboration platforms to obtain business and data insights is turning out to be a common practice. Subsequently, while organizations are getting in a better position to align the complete lifecycle of the events with their business objectives, Chief Marketing Officers (CMOs) are managing to gain crucial business insights from the business events. The analysis of the behavior of attendees is also helping organizations in making critical business decisions.

Component Insights

Based on component, the event management software market has been further segmented into software and service. The software segment dominated the market in 2020 and accounted for a market share of more than 65%. The growing demand for event management software can be attributed to the rising preference among organizations for virtual events. Event management software allows businesses and educational institutes to design their events according to their requirements and execute those events virtually. The continued digital transformation across various industries and industry verticals is also expected to bode well for the growing adoption of event management software.

The service segment is anticipated to grow at the highest CAGR of 13.4% over the forecast period. The growth of the segment can be attributed to the professional and managed services being offered by various vendors of event management software. Professional services are particularly aimed at helping businesses in mitigating security gaps and strengthening the security measures to ensure effective implementation of event management software. Some of the benefits offered by professional services include reduced administrative expenses, increased profitability, and optimized utilization of resources.

Deployment Type Insights

Based on deployment type, the market has been further segmented into cloud and on-premise. The cloud segment dominated the market in 2020 and accounted for a revenue share of more than 58.0%. Cloud-based deployment helps businesses in setting up a control center to monitor, arrange, and coordinate various components of their digital marketing campaigns without having to invest in dedicated IT infrastructure, thereby saving on the IT costs and improving the overall cost structure. The cloud-based deployment also allows enterprises to run multiple marketing campaigns from different locations.

The on-premise segment is anticipated to expand at a CAGR of 9.6% from 2021 to 2028. The growth of the segment can be attributed to the security benefits, such as data transparency and security, associated with on-premise deployments. The on-premise software does not call for an internet connection. On-premise software can also be tailored to the client’s business processes.

Organization Size Insights

The large enterprise segment accounted for a market share of 56.1% in 2020. Large enterprises often have a large corporate network and varied revenue streams. Hence, large enterprises are always looking forward to adopting new and innovative solutions that can be integrated into their corporate network. Event management software can typically help large enterprises in connecting with investors and colleagues and conducting their annual events virtually, thereby driving the popularity of event management software among large enterprises.

The small and medium enterprise segment is anticipated to register a CAGR of 16.0% over the forecast period. The growth of the segment can be attributed to the increasing number of small & medium enterprises (SMEs) in countries, such as the U.S., India, and China. Cloud-based event management software solutions are particularly popular among SMEs owing to their lower deployment costs. SMEs are also opting for cloud-based event management software as part of the strong emphasis they are putting on digitization.

Application Insights

Based on application, the market has been further segmented into event organizers and planners, government, corporate, education, and others. The event organizers and planners segment accounted for a market share of more than 34.0% in 2020. Event planners have to execute more events as compared to in-house planners. Hence, event management software can be particularly beneficial for event planners. The growing preference for hosting virtual events in the wake of the outbreak of the COVID-19 pandemic is also expected to play a vital role in driving the growth of the event organizers and planners’ segment over the forecast period.

Global event management software market share, by application, 2020 (%)

The corporate segment is anticipated to expand at a CAGR of 13.2% from 2021 to 2028. The preference for hosting virtual events is growing among corporates. Hence, corporates are particularly scouting for customized solutions and services to host annual events, such as the Annual General Meeting (AGM), virtually. These are some of the major factors that are expected to drive the growth of the corporate segment over the forecast period.

Regional Insights

North America dominated the market in 2020 with a market share of over 45.0%. North America is home to several prominent market players, such as Bizzabo; Aventri Inc.; and Glue Up, as well as several small and medium enterprises, which bodes well for the growing adoption of event management software in the regional market. The region is also known for hosting various public events, such as film festivals, marathons, and other events hosted by educational institutions, along with several other private events. According to the findings published by Billboard in June 2018, around 800 music fests are hosted in the U.S. alone, and these events attract over 32 million attendees. The need for efficient management of all such events has been driving the adoption of event management software across the region.

The Asia Pacific regional market is anticipated to expand at the highest CAGR of 15.4% from 2021 to 2028. The growth of the regional market can be attributed to the growing preference for technologically advanced solutions among enterprises in Asia Pacific countries, such as China and India. Furthermore, the Asia Pacific region has abundant skilled and tech-savvy professionals, who can efficiently utilize the latest software solutions available in the market. Moreover, the number of SMEs in the region is also growing significantly, which bodes well for the growth of the regional market.

Key Companies & Market Share Insights

The prominent market players that dominated the global market in 2020 include Aventri Inc.; Cvent Inc.; Hubilo; Zoho Corporation; Eventbrite. These market players are pursuing various strategic initiatives, such as mergers and acquisitions, and strategic partnerships and collaborations, as part of their efforts to cement their position in the market and gain a competitive edge. For instance, in November 2020, Eventbrite announced the acquisition of ToneDen, a self-service social marketing platform. The acquisition was aimed at enabling creators to attract more audiences.

Market players are also pursuing several other strategic initiatives, including joint ventures, and new product launches, and striking contracts and agreements to strengthen their position in the market. For instance, in April 2020, Hubilo announced the launch of its new virtual event platform designed to help the incumbents of the media and entertainment industry in overcoming the losses encountered due to the cancellation of live events. The platform offers a real-time networking option that allows the attendees to book a seat and bond with people sharing similar interests. Some of the prominent players operating in the global event management software market are:

  • Aventri Inc.

  • Cvent Inc.

  • Eventbrite

  • Zoho Corporation

Event Management Software Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 6.36 billion

Revenue forecast in 2028

USD 14.48 billion

Growth Rate

CAGR of 12.5% from 2021 to 2028

Base year for estimation

2020

Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, service, professional service, deployment type, organization size, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; China; India; Japan; Brazil; Mexico

Key companies profiled

Cvent Inc.; Eventbrite; Zoho Corporation; Aventri Inc.

Customization scope

Free report customization (equivalent to up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global event management software market report based on component, service, professional service, deployment type, organization size, application, and region:

  • Component Outlook (Revenue, USD Million, 2018 - 2028)

    • Software

    • Service

  • Service Outlook (Revenue, USD Million, 2018 - 2028)

    • Professional Service

    • Managed Service

  • Professional Service Outlook (Revenue, USD Million, 2018 - 2028)

    • Consulting

    • Deployment & Integration

    • Support & Maintenance

  • Deployment Type Outlook (Revenue, USD Million, 2018 - 2028)

    • On-premise

    • Cloud

  • Organization Size Outlook (Revenue, USD Million, 2018 - 2028)

    • Small & Medium Enterprise

    • Large Enterprise

  • Application Outlook (Revenue, USD Million, 2018 - 2028)

    • Event Organizers & Planners

    • Corporate

    • Government

    • Education

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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