Event Management Software Industry Overview
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.
Event Management Software Market Segmentation
Grand View Research has segmented the global event management software market based on component, service, professional service, deployment type, organization size, application, and region:
Based on the Component Insights, the market is segmented into Software, 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.
- 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.
Based on the Deployment Type Insights, the market is segmented into On-premise, Cloud.
- 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 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.
Based on the Organization Size Insights, the market is segmented into Small Medium Enterprise, Large Enterprise.
- 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.
- 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.
Based on the Application Insights, the market is segmented into Event Organizers Planners, Corporate, Government, Education, 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 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.
Event Management Software Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
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.
Some prominent players in the global event management software market include
- Aventri Inc.
- Cvent Inc.
- Eventbrite
- Zoho Corporation
Order a free sample PDF of the Event Management Software Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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