Event Management Software Industry worth $34.7 billion by 2029

(IT-NEWSWIRE.COM, May 13, 2024 ) According to a research report "Event Management Software Market by Offering (Software (Event Planning, Venue Management), and Services), Event Type (Virtual, In-Person) Deployment Mode, Organization Size, End User and Region - Global Forecast to 2029" published by MarketsandMarkets, The global event management software market will grow from USD 15.5 billion in 2024 to USD 34.7 billion by 2029 at a compounded annual growth rate (CAGR) of 17.4% during the forecast period. The event management software market increasingly emphasizes data analytics and insights-driven event management. Modern event management solutions leverage data analytics to track attendee behavior, measure event performance, and gather feedback for continuous improvement. By analyzing metrics such as attendance rates, session popularity, and attendee satisfaction scores, organizers can gain valuable insights to refine marketing strategies, personalize the event experience, and maximize event success.

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The rise of virtual and hybrid events in response to the COVID-19 pandemic has further accelerated the adoption of event management software. Virtual event platforms offer various features, including live streaming, virtual networking, and interactive sessions, enabling organizers to host engaging and immersive virtual experiences. As organizations continue to embrace virtual and hybrid event formats, the demand for event management software that supports these formats is expected to grow, driving further innovation in the market. Major players such as Cvent, Eventbrite, Bizzabo, Aventri, and EventMobi dominate the event management software market. These vendors differentiate through innovation, user-friendly interfaces, and integrations with third-party services. As the event management software market continues to grow, these significant vendors are expected to remain at the forefront, driving innovation and shaping the future of event management.

The services segment is expected to capture the highest CAGR during the forecast period by offering segment.

The service type segment of the event management software market is segmented into software and services. The services segment accounted for the highest CAGR during the forecasted period. Services supplement staff software and offer skills, knowledge, and solutions to the event management software market during planning and execution periods. The services of such companies are mainly dedicated to implementation support, regular training, and ongoing technical assistance, ensuring that clients can adequately use the event management software products they buy. The implementation support must include making the software conform to a client's needs, customizing it to the desired features, and integrating it into the current system to ensure smooth performance. Running the training allows the users to grasp the possibilities hidden in the software features comprehensively and are appropriate to maximize their achievements with the help of event technologies.

Additionally, round-the-clock technical support service gives clients the choice to contact their support teams or help desks to solve any version issues, identify the source of the problem, and thus get timely help as soon as possible. Few program developers also provide consulting services, such as strategic suggestions for getting a competitive edge from experienced professionals in managing and planning events, advising best practices, and giving industry insights. Finally, services offered within the event management software market help the customers meet their requirements of skill, sources, and support to plan, execute, and control the event effectively with assurance.

Based on the software, the all-in-one event management platform segment is expected to hold the largest market share during the forecast period.

The event management software market, by software, is segmented into an all-in-one event management platform, event ticketing & registration software, event planning software, event marketing & promotion software, venue management software, and other software. It is expected that during the forecast period, the all-in-one event management platform segment is expected to hold the largest market size and share in the event management software market. The event management software market is a significant recipient of all-in-one event management platforms, which provide comprehensive solutions that cover all aspects of event planning, organization, and execution. The whole system platform combines an extensive range of functionalities such as event registration, ticketing, agenda management, marketing automation, and engagement tools for attendees, among many other things. Event-related responsibilities are managed from an integrated control center in one place by these platforms, reducing the complexity of organizing events, streamlining processes, and improving efficiency.

Additionally, the all-in-one event management platforms offer convenience and flexibility to event organizers by making it possible for them to access all necessary tools and resources through a single interface. This eases coordination and increases collaboration between event planning team members because it eliminates any necessity to handle multiple software solutions or use incompatible systems. Such platforms also have options for customization, such as templates that can be suitable for various types of events such as trade fairs, seminars, conferences, webinars, etc., thus taking care of different needs for organizers while giving them a tailored experience with their attendees at the same time. Overall, all-in-one event management platforms play a pivotal role in driving efficiency, effectiveness, and success in the planning and execution of events.

North America is projected to hold the largest market share during the forecast period.

By region, North America is projected to hold the most market share in the worldwide event management software market in 2024, and this pattern is anticipated to be valid throughout the forecast period. Event management software facilitates seamless planning, organization, and execution processes in the North American region. These software solutions are comprehensive platforms that streamline venue selection, attendee registration, marketing, scheduling, and budget management. With the diverse range of events hosted in North America, including corporate conferences, trade shows, music festivals, and sports events, event management software enables businesses and organizations to coordinate logistics and deliver exceptional experiences to attendees effectively.

Moreover, its strong financial position enables it to invest heavily in adopting the latest and leading tools and technologies to ensure effective business operations. Such advantages help organizations in this region gain a competitive edge. North America has the first-mover advantage in adopting new technologies, such as smartphones and cloud platforms. The area is the headquarters of many large enterprises and hosts various international events. Enterprises are willingly investing in North America. The factors expected to drive the growth of North America's event management software market are the stable economy, technological enhancements, and advanced infrastructure.

Key Players

Some of the significant event management software vendors include Cvent (US), Stova (US), Eventbrite (US), Zoom (US), RingCentral (US), Zoho Corporation (India), Momentus Technologies (US), Active Network (US), RainFocus (US), 6Connex (US), Hubilo (US), Circa (US), Whova (US), loom (Belgium), Hubb (US), Grenadine Technologies (Canada), EVENTBOOST (Switzerland), Airmeet (US), Notified (Sweden), and Kaltura (US).

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Event Management Software Industry worth $34.7 billion by 2029