EVENT MANAGEMENT SOFTWARE MARKET ANALYSIS
Global event management software market is estimated to be valued at USD 14.27 Bn in 2024 and is expected to reach USD 31.73 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.
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Due to increasing number of large scale events such as conferences, seminars and trade shows, the event organizers are seeking innovative software solutions to efficiently manage all the aspects of an event from planning and marketing to operations and analytics. Various capabilities offered by event management platforms such as online registration management, inventory management, rostering and scheduling, CRM integration and analytics boosts their adoption among organizers. Furthermore, deployment of advanced technologies including AI, predictive analytics along with shift towards cloud-based solutions can drive the market growth during the forecast period.
Rising Popularity of Virtual Events
The pandemic changed the way people interact and events were planned, and this led to significant rise in virtual and hybrid events in the past year. Organizations across different industries have embraced the online event format to continue engaging with their audience and customers. Virtual events provide an effective way for event planners and organizers to host large gatherings while ensuring safety protocols. These enable geographically dispersed attendees to conveniently participate from any location using an internet connection. This widespread adoption of virtual events boosts demand for event management software that can facilitate the entire planning, execution and post-event process smoothly in a digital environment. Popular event management platforms now offer advanced virtual and hybrid event capabilities including interactive features, networking lounges, polling and surveys to enhance attendee experience. The ability of such platforms to manage the logistics of online events attracts planners looking for virtual or hybrid models even in the post pandemic world.
For instance, in January 2022, Aventri an event management company collborated with MeetingPlay to create a comprehensive solution for in-person, virtual, and hybrid events. This collaboration leverages the unique capabilities of both firms to offer an all-encompassing event software solution.
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Growing Popularity of Mobile Event Apps
Increasing smartphone and mobile technology penetration has prompted event organizers and planners to leverage mobile applications to enhance attendee experience at live events. Mobile event apps provide a digital engagement layer, allowing attendees to access key event details, schedule, maps, exhibitor directory and more directly on their smartphones. These foster better interaction among attendees through features like push notifications, polls and surveys. For event organizers, mobile apps offer valuable analytics and real-time attendee data to understand engagement levels and make strategic decisions. These also serve as an effective marketing channel before, during and after events. The ease of use and convenience of mobile apps boosts its adoption rates among organizers. Event management platforms have incorporated capabilities to design, develop and launch fully-customized event apps within their software solutions. This boosts demand as event planners appreciate the merits of mobile apps in elevating attendee experience, particularly for large conventions, trade shows and expos.
For instance, in October 2023, Eventsforce an event management solutions provider, powered by Simpleview, launched the Eventsforce mobile app, a scalable solution designed to enhance event planning success. The new app features an upgraded technology stack to inspire, engage, and connect event attendees. As an intuitive, all-in-one solution, Eventsforce aims to meet the evolving needs of event portfolio, driving attendee engagement and ensuring event success.
Key Takeaways from Analyst:
Global event management software market growth is driven by increasing adoption of these solutions across industries for enhancing event planning and organization. Various industries such as corporate, education, healthcare and non-profit are realizing the benefits of event management tools in streamlining the event lifecycle from concept to delivery. The ability of these tools to automate event planning processes, centrally manage operations and collaborate with vendors and staff is boosting their demand.
However, high installation and maintenance costs of some specialized event management suites may limit adoption among small businesses with limited budgets. Switching costs associated with migrating to new platforms pose a challenge for existing users. Data privacy and security concerns while sharing sensitive event information can also hamper the market growth.
The availability of cost-effective cloud-based platforms can drive the market growth by addressing the cost barrier issue. The Asia Pacific region is expected to emerge as the fastest growing regional market owing to rapid digitalization and economic development in countries like China and India. Rising spending on corporate events, conferences and exhibitions by organizations in the region can offer new growth opportunities.
Market Challenges: High Competition and Standardization of features
Global event management software market is saturated with numerous vendors offering similar functionalities. This makes it difficult for companies to differentiate their products and services, leading to fierce competition on price and features. As the market matures, core functionalities become increasingly standardized across platforms. This trend further reduces the ability for vendors to stand out based on basic features alone.
Market Opportunities: Expanding Market and Evolving Needs
Large-scale and complex events require sophisticated solutions to manage logistics, attendee engagement, and overall experience. This presents an significant opportunity for vendors specializing in advanced event management technology. The industry is fragmenting, with specific needs emerging across different industry verticals. Vendors can cater to these growing niche markets by developing customized solutions tailored to their unique requirements.
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Insights, By Solution - Software dominates as the go-to event management solution
In terms of solution, software segment is estimated to contribute the highest market share of 83.6% in 2024, owing to its unmatched functionality and ease of use. As event planning needs become increasingly complex, software solutions have risen to meet organizers' demands. Their comprehensive feature sets allow for centralized management of all aspects of an event from a single platform. Attributes like calendar views, registration portals, invoice generation, and payment processing cater to the various stages of planning and execution. Customizable templates automate repetitive tasks and maintain consistency across multiple events. Real-time data analytics also empower organizers to track engagement, understand preferences, and refine future activities.
Software solutions edge out services due to their affordability and scalability. One-time purchase of software grants access to a full-suite of tools for an unlimited number of events, thus, eliminating overhead costs. Their modular architectures flexibly adjust functionality based on budget and requirements. Updates further optimize performance over time without additional fees. In contrast, outsourcing components like marketing or registration to third-party vendors incurs recurring service charges. Perpetual licenses additionally preserve institutional knowledge as staff turnovers occur.
Ease of deployment through any internet browser from any location strengthens software's position in the market. Event teams can collaborate simultaneously on a centralized platform to streamline workflows. Mobile and tablet apps expand flexibility beyond desktops for updating schedules and monitoring events on-the-go. Integration with other systems like CRM and ERP consolidates data for holistic insights. Customizability allows personalizing the interface according to preferences. These advantages fit the operational needs of organizers better than inflexible, externally managed services.
Insights, By Deployment - Cloud-based deployment dominates due to accessibility and scalability
In terms of deployment, cloud-based segment is estimated to contribute the highest market share of 62.4% in 2024, due to advantages in accessibility and scalability. Modern planners require reliable, real-time access to tools and information from anywhere during planning sprints and live events. Cloud infrastructure delivers this through hosted, web-based access from any internet-connected device. It eliminates dependency on local hardware or networks, facilitating remote and mobile working.
Cloud models thrive due to their scalability to fluctuating workloads. Periodic events create peaks and troughs in tool utilization which on-premises infrastructure can struggle to accommodate. Cloud architecture dynamically scales resources up or down as per demand using integrated server farms. This pays licencing or infrastructure costs only for the capacity utilized rather than maintaining idle hardware. Burstable capacity reliably handles sudden registration bursts or live attendance spikes without performance lag. Server maintenance also shifts to reliable provider uptime assurances rather than in-house IT departments.
Data security inherits provider-grade protections with regular audits and certifications. Access controls safeguard information across user segmentation. Multi-tenant platforms strengthen uptime through redundancy across customer pools. Cloud options remain affordable for even occasional or student organizers through consumption-based pricing.
Insights, By End Users - Corporates lead adoption with complex, recurring events
In terms of end users, corporate segment is estimated to contribute the highest market share of 38.2% in 2024, owing to requirements of complex, recurring activities. Enterprise events like conferences, tradeshows, and client engagements involve sizable budgets, lengthy planning cycles and intricate logistics. Centralized software streamlines operations across distributed internal teams and service partners. Calendar views coordinate concurrent speaker sessions, arrangements for booths or networking areas. Integrated payment gets finance approval for expense reimbursements timely.
Corporates gain the most from software to align events with sales and marketing objectives. Data-driven features help target relevant attendees and gauge engagement. Automated forms integrate RSVPs into CRM databases to qualify sales leads or tailor follow up. Versatile reporting gives insights into attendee demographics and pain points for refining future events. Integrations facilitate post-event surveys or sharing presentation files internally to improve processes. Streamlined workflows lift productivity and allow frequent events without scaling staff.
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North America has established itself as the dominant regional market for event management software with estimated market share of 43.7% in 2024. With a large concentration of event planning companies and tech startups based in the U.S. and Canada, there has been huge adoption of advanced event management solutions. Event organizers in North America recognize the importance of having robust software to efficiently plan, coordinate and execute events of all sizes. Furthermore, the presence of key software providers like Cvent, Eventbrite and Aventri has led to higher customer awareness and availability of localized software features for the North American market.
The pricing dynamics of the event management software market also favor usage in North America. Platforms catering to enterprise-level users offer flexible licensing and pricing models based on the number of events and users. These work with clients to customize solutions as per their unique requirements. For SMBs and individual planners, various freemium and grassroot versions are available, lowering the access barrier. This has facilitated rapid software penetration across different business segments. Trade shows, corporate conferences and exhibitions can boost demand for this software.
Asia Pacific region has emerged as the fastest growing regional market with CAGR of 14.8% for the forecast period of 2024-2031. Countries like China, India, Singapore and Australia are witnessing a boom in domestic events due to rising incomes, urbanization and expansion of homegrown industries. Local language interfaces of popular platforms have made software solutions more accessible beyond major metro areas. Social media has further boosted self-organized community and cultural events. APAC hosts many global sporting competitions and business conventions, inviting foreign spending on event operations. Governments also use major international events as platforms to promote tourism and business.
Event Management Software Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 14.27 Bn |
| Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
| Forecast Period 2024 to 2031 CAGR: | 12.1% | 2031 Value Projection: | US$ 31.73 Bn |
| Geographies covered: |
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| Companies covered: |
Active Network LLC, Arlo, Aventri, Inc., Bitrix24, Bizzabo, Certain, Inc., Cvent, Inc., EMS Software, LLC., Event Espresso, EventBrite, Eventdex.com, EventGeek, EventMobi, Grenadine Technologies Inc., Hopin, Rainfocus, Regpacks, Stova, Ungerboeck, webMOBI, Whova, Zerista, Zoho Corporation Pvt. Ltd. |
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*Definition: Event management software is a specialized solution used by organizations to plan, promote, and execute events efficiently. It offers a centralized platform to help event planners track details of upcoming events, manage participant registration and payments, create event websites, send email invites and reminders, and generate reports. Event management software helps streamline event logistics, enhance communication between stakeholders, and provide a better experience for attendees, speakers, sponsors and organizers.
Event Management Software Market Report Snapshots
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