SAN FRANCISCO, Oct. 26, 2021 /PRNewswire/ -- 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.
Key Insights & Findings:
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.
Read 120 page research report, "Event Management Software Market Size, Share & Trends Analysis Report By Component (Software, Service), By Deployment Type, By Organization Size, By Application, By Region, And Segment Forecasts, 2021 - 2028'', by Grand View Research
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.
Grand View Research has segmented the global event management software market based on component, service, professional service, deployment type, organization size, application, and region:
Event Management Software Component Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Service Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Professional Service Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Deployment Type Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Organization Size Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Application Outlook (Revenue, USD Million, 2018 - 2028)
Event Management Software Regional Outlook (Revenue, USD Million, 2018 - 2028)
List of Key Players of Event Management Software Market
Browse through Grand View Research's coverage of the Global IT Services & Applications Industry:
Online Event Ticketing Market – The online event ticketing market size was valued at USD 46.59 billion in 2017 and is expected to grow at a CAGR of 4.8% during the forecast period.
Virtual Events Market – The global virtual events market size was valued at USD 94.04 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 23.7% from 2021 to 2028.
Payment Gateway Market – The global payment gateway market size was valued at USD 18.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.7% from 2021 to 2028.
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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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