The global Event Management Software Market size is anticipated to reach USD 14.48 billion by 2028, registering a CAGR of 12.5% from 2021 to 2028, as per the research conducted by Grand View Research, Inc. The growing popularity of cloud-based solutions and the increasing preference for hosting virtual events are some of the major factors that are anticipated to drive the growth of the market over the forecast period. Given the growing reliance of organizations on a dedicated IT infrastructure to improve business productivity, cloud-based managed services are emerging as a cost-effective alternative for organizations, which bodes well for the growth of the market. The availability of various subscription-based pricing models is also expected to contribute to the growth of the market.
The outbreak of the COVID-19 pandemic has been particularly
driving the adoption of event management software. Lockdowns imposed in
different parts of the world as part of the efforts to arrest the spread of
coronavirus have affected several industries and industry verticals. Several
small, medium and large enterprises have adopted the work-from-the-home working
model to protect their employees in the wake of the outbreak of the pandemic.
On the other hand, educational institutions and corporates are particularly
resorting to virtual events, which is typically driving the demand for event
management software.
The key players in the market include Cvent Inc.;
Aventri Inc.; Eventbrite; and Zoho Corporation. These market players are
majorly focusing on strategic partnerships and collaborations to enhance their
business operations. For instance, in June 2018, Eventbrite, a ticketing and
event management company based in the U.S., and Elrow Family, a party series
and event concept company based in Barcelona, Spain, entered into a multi-year
ticketing partnership, which envisaged Eventbrite handling the ticketing
requirements of over 100 festivals and shows under the Elrow brand. The
festivals and shows under the Elrow brand attract more than 2.4 million
attendees every year.
Related Press Release@ Event Management Software Market Report
Event Management Software Market
Report Highlights
- The software segment is expected to dominate the market over the
forecast period, owing to the continued adoption of event management
software by various small and large enterprises across the globe. The
segment is expected to reach USD 9,10 billion by 2028
- The managed service segment is anticipated to expand at the highest
CAGR of 14.3% over the forecast period
- The deployment and integration segment accounted for a market share
of over 45.0% in 2020 and is anticipated to reach USD 1.59 billion by 2028
- The cloud segment is expected to dominate the market over the
forecast period and reach USD 9.54 billion by 2028
- The corporate segment is anticipated to register the highest CAGR
of 13.2% over the forecast period in line with the growing preference
among corporates for technologically advanced solutions to host virtual
events
- North America is projected to account for the largest market share
over the forecast period. The regional market is anticipated to reach USD
6.21 billion by 2028 driven by the presence of several prominent players
in the region and the rapid adoption of technologically advanced solutions
- Some of the prominent market participants include Cvent Inc.;
Eventbrite; Zoho Corporation; and Aventri Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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