Event Management Software Market: A Lucrative Sector with Potential CAGR of 14.3%

The global event management software market is expected to grow rapidly at a rate of 14.3% per year throughout the forecast period. In 2023, the market is currently valued at US$ 8,736.6 million.

It is projected that the market value for event management software will reach a peak of US$ 33,347.9 million by the year 2033. Experts from Future Market Insights have analyzed historical data and found that the market has shown an average annual growth rate of 12.1% over time.

Due to the ongoing COVID-19 epidemic, health worries are growing throughout the world and having a huge influence on business, especially when it comes to hosting events. Most events have been cancelled or moved since the epidemic’s start. The pandemic scenario has even forced the cancellation of important conventions including Mobile World Congress and the HIMSS Global Healthcare Conference & Exhibition.

A growing need for virtual event management software solutions has been anticipated over the past few years due to the substantial increase in the number of gaming, entertainment, and sports events. It is being highly adopted for streamlining the management of these occurrences.

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Key Takeaways of Event Management Software Market Report:

The event management software market is poised for significant expansion, with cloud-based deployment anticipated to soar to four times its current value by 2031. In the U.S., the proliferation of IoT and real-time analytics is projected to fuel growth, with the country expected to hold nearly 65% of the North American market by 2021. Meanwhile, the U.K. is set to maintain double-digit year-on-year growth, solidifying its status as a lucrative market in Europe. In continental Europe, Germany and France are witnessing a surge in organized events, which is expected to propel the event management software market. In East Asia, both Japan and South Korea are poised to emerge as robust markets, exhibiting substantial double-digit growth.

Rising Demand for Mobile Event Management Applications:

Every day that goes by, more and more people are using apps, and many of them are now thought to be essential for most organisations. The event sector is benefiting from the event applications by making processes quicker, simpler, and more interactive. One of the biggest event trends has been the rise in popularity of interactive mobile event applications. As a result, customers are calling for more event applications with more features.

Competitive Landscape:

To diversify their product offering, businesses are forming partnerships with major technological organizations. They are concentrating on forming partnerships with companies that provide complementary goods, services, and technology in order to expand their market reach and technological prowess. Through the use of its best-in-class solutions and end-to-end capabilities, this strategy has helped the business quickly expand into a global provider with the goal of providing high-quality services.

Leading Key Players:

The Event Management Software market features a competitive landscape with key players like Cvent Inc., InEvent Inc., Ungerboeck, Eventzilla, Certain Inc., Eventbrite, Arlo, XING Events, Eventsforce, Aventri Inc., and Hubilo Technologies Inc. Each of these companies offers a diverse range of solutions and services tailored to meet the evolving needs of event planners and organizers worldwide. From streamlined registration processes to robust event analytics, these leading players continue to innovate and drive the industry forward, empowering businesses and organizations to orchestrate successful and memorable events efficiently.