Companies across the globe are adopting event management software, due to the increasing number of large conferences, ceremonies, concerts, meetings, and conventions. The event management software market vendors are offering event management solutions in the cloud deployment type with Software-as-a-Service (SaaS) offering, making it affordable for the Small and Medium-sized Enterprises (SMEs), which, in turn, is driving the revenue growth of the software segment. Strategic partnerships is an important strategy adopted by the key market players to develop new offerings and gain new customers in the global event management software market.
MarketsandMarkets expects the event management software market to grow from USD 6.10 billion in 2018 to USD 10.57 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period.
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The event management software segment includes venue management software, event registration and ticketing software, event planning software, event marketing software, analytics and reporting software, and others (content management, resource scheduling software, visitor management software, and catering software).
Major vendors of the event management software market include
ACTIVE Network (US), Arlo (New Zealand), Attendify (US), Aventri (US), Bizzabo (US), Certain (US), Cvent (US), EventBank (US), EventBooking (US), Eventbrite (US), EventGeek (US), EventMobi (Canada), EventPro (Canada), eventuosity (US), Eventzilla (US), Gather Technologies (US), Hubb (US), Hubilo (India), Meeting Evolution (US), Regpack (US), SignUpGenius (US), Social Tables (US), Ungerboeck Software (US), Whova (US), and XING Events (Germany).
Cvent (US), with its significant presence in the event management software market, is aspiring to become the top software provider in the market with a focus on organizing various types of events. The company provides specialized solutions to identify appropriate venues, secure a competitive proposal from hotels or venues, manage budgets, market events, send invitations, conduct pre-event surveys, establish social media presence for events, manage process registrations and fee collections, build event-specific mobile apps, manage event logistics, such as traveling and lodging, and surveying and engaging the attendees, and analyze event results and survey feedback after the event. In July 2018, Cvent launched a New Event ROI Model and Measurement Offerings for facilitating marketers and event planners with the ability to measure, comprehend, and demonstrate the revenue impact on their enterprises.
Eventbrite (US), another renowned player in the event management software market, in August 2018, acquired Picatic, a ticketing and event registration platform provider, to strengthen its foothold in Canada. In June 2018, the company partnered with elrowFamily, a worldwide party brand. Furthermore, Eventbrite signed a multi-year ticketing partnership with elrowFamily to manage the ticketing requirements of more than 100 shows and festivals.
APAC is one of the fastest-growing regions and has a favorable market for the event management software and service vendors. The region has a broad customer base across industries, and thus needs brand marketing activities to reach out to potential customers. The region comprises key economies, such as China, India, Japan, Singapore, Malaysia, and Australia.
APAC is projected to witness the highest adoption rate of event management software, owing to the presence of a large number of Small and Medium-sized Enterprises (SMEs) that are inclined toward the adoption of cloud-based event management software. The increasing adoption of cloud technologies and the presence of a broad customer base are driving the adoption of event management software across enterprises in APAC.
