Global Event Management Software Market - Segmented By Software (Event Planning Software, Event Marketing Software, Analytics and Reporting Software), Organization Size (Small & Medium Enterprises, Large - scale Enterprises), Vertical and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The global event management software market was valued at USD 6.89 billion in 2017 and is projected to reach a value of USD 12.51 billion by 2023, at a CAGR of 10.45% over the forecast period, 2018-2023.
Globalization has created many business opportunities for different markets, such as expansion of horizons, international & national level conferences and trade shows (among others) by establishing direct channel of communication.
The sustained increase in the number of events has, in-turn, triggered the market, which has evolved into a multi-billion dollar industry. The EMS solutions are evolving rapidly, owing to mobile and digital revolution.
An increasing number of vendors in the EMS market are offering their solutions as a service. Most organizations spend 2%-4% of their annual revenues on organizing events.
This provides vendors an opportunity to understand the requirements of the organizations and offer customized solutions.
Rise in Advanced Data Analytics Solutions
Big data analytics has gradually emerged to be the most prominent collective phenomenon in the early 21st century, and EMS solutions have high advantage of using this big data analytical tools in translating consumer data into actionable insights. Present businesses require systems that can use this data to analyze the usage patterns, demand peaks & consumption fluctuations, and arrive at smart decisions.
All of this mandates need systems that can handle big data, effectively.
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Event Planning Software will Account for a Significant Share
Event planning software is used to differentiate between types of venues, virtual & live events, seating arrangements, and audio & visual effects. Moreover, this software builds a customer database, with details that aid the marketing teams to access information and remind customers of service requirements, check payment histories,.
The increased number of events, meetings, and festivals require proper management of events, which will lead to the growth of the market. Large organizations, SMEs, non-profit organizations, and interest groups hold events to promote their products, build business relationships, raise funds, or celebrate.
The imperative to save significant sunk costs, which contribute to a substantial amount of resources and money, are major factors emphasizing the need for effective event management systems.
Asia-Pacific to Remain a Major Market
An increase in the number of associations and corporate meetings held in developing nations was the major reason for Asia-Pacific's market growth. The market in the region will experience maximum growth during the forecast period because of the rise in the number of organizations trying to establish themselves in developing countries, such as China, India, and Indonesia.
Furthermore, APAC summits, such as APAC Innovation Summit in Hong Kong, which was held in April 2016, and Private Wealth Management APAC Summit held in Macao in October 2016, have and are expected to contribute to the market growth. The total number of organized events held in India rose from 4,317 in 2014 to 5,076 in 2015.
The market is forecasted to record a CAGR growth of 17.68% over the next three years. In terms of market size, the organized event sector in India was valued at INR 10,792 crore.
Key Developments in the Market
- January 2018: Evenbrite partnered with BRIC Celebrate Brooklyn! Festival being held at Prospect Park Bandshell a signed an exclusive multi-year ticketing deal. The company will be handling the official ticketing for the festival via Ticketfly, is part of the company’s music division. This deal marks the first significant announcement since Eventbrite has acquired Ticketfly in September 2017.
- November 2017: Cvent have partnered with Opus Agency to develop the industry’s most comprehensive event technology paired with design and implementation services and exceptional strategy to the customers. This partnership is expected to offer Cvent customers access to the depth and breadth of services offered by Opus, including project delivery, integration and customization along with Cvent’s award winning technology.
- September 2017: SignUpGenius, one of the leading event management platform provider, has partnered with WePay, in order to introduce a new way of collecting money on the company’s popular online sign ups. The partnership is expected to simplify the process of accepting payments as it helps in diversifying revenue sources.
- November 2016: Vista Equity Partners, a private equity firm, has acquired Cvent, a SaaS provider for the event and hospitality industries, for USD 1.65 billion. as a part of its strategy to create a technological leader in the event and travel management space, Vista has announced the merger of Lanyon Solutions, Inc. (owned by Vista) and Cvent, Inc. The combined company will be privately held by Vista and has been declared that it will operate under the brand name of Cvent.
- June 2016: etouches, a global provider of cloud-based event management software, announced the acquisition of Zentila, a provider of hospitality sourcing and booking solution.
Major Players: XING SE, SIGNUPGENIUS, INC., ACTIVE NETWORK, LLC, ETOUCHES, EVENTBRITE, UNGERBOECK SOFTWARE INTERNATIONAL, INC, EMS SOFTWARE, LLC, CERTAIN, INC., amongst others.
Reasons to Access this Report
- Analyze the impact of key drivers and restraints on the event management software market.
- Analyze various perspectives of the market with the help of Porter’s five forces analysis.
- Growth of various software, such as event planning software, event marketing software, analytics, and reporting software.
- Regional analysis of the market.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Cvent, Inc., XING SE, Active Network, LLC, etouches, Inc., Eventbrite, Ungerboeck Software International, Inc, Certain, Inc., SignUpGenius, Inc., RunSignUp, Inc., Event Espresso, EMS Software, LLC, TryBooking Pty Ltd.
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