Pune, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Market Research Future’s in-depth market study on the Global Event Management Software Market, by Software Type (Analytics Software, Event registration, Venue Sourcing), by Deployment (Cloud, On-Premise), by Application (Corporate, Government, Association, Education) - Forecast 2022
Event Management Software Market
Event management software comprises a suite of products designed to facilitate event managers in managing events, conferences, conventions, and other smaller events. The swelling numbers of people coupled with the deluge of social media accounts is likely to create chaos at the booking site. But the software makes it a simple process. Designs of customized forms in various formats coupled with options for templates is likely to boost adoption of the software.
EMS Market Scope
The event management software market is set to exhibit an exemplary CAGR of 11.39% from 2016 to 2022 (forecast period), as per a new report by Market Research Future (MRFR). The market size can double to USD 14.45 billion by 2022 from its previous valuation of USD 7.57 billion in 2016. Factors expected to drive Event Management Software Market growth include adoption of cloud, online education programs, and increased budget for events.
The sharp rise noticed in trade events and exhibitions is expected to induce the demand for event management software. Benefits of the software such as reduced work overload, easy data management, improved quality of data, attendee convenience, and an enhanced customer base are touted to spur market growth.
Lack of technical personnel and dynamic nature of events owing to changing customer needs can impede EMS market growth.
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Competition Analysis
Key players offering solution in the event management software market include Lanyon Solutions Inc., Active Network LLC, Etouches, Regfox LLC, Certain Inc., Eventbrite, Ungerboeck Software International, Pulse Network, Bizzabo, Cvent Inc., and others.
Mergers and acquisitions are a common trend in the Event Management Software Market. Recently, Cvent merged with its subsidiary, Lanyon Solutions, to become the biggest player in the market. Cvent and Ungerboeck Software are able to provide features of event management software on a single platform, making it stand out among the competition.
Segmentation Analysis
The Event Management Software Market is segmented by software type, deployment, and application.
By software type, the market is segmented into event registration software, event marketing software, venue sourcing, mobile event app, and analytics software. The event registration segment can touch a valuation nearing USD 5 billion by the end of the forecast period. Its use by event planners is expected to bolster its demand in the forthcoming years.
The analytics software segment is touted to be the fastest growing segment, exhibiting a CAGR of 17.33% during the forecast period. Analytics software is required to collect data to recognize growth patterns and revenue estimations from potential clients. The demand for the software by U.S. event organizing companies is predicted to be the segment’s driving factor.
By deployment, the EMS market is segmented into on-cloud and on-premise. The on-cloud segment can generate earnings close to USD 10.24 billion by 2022, showcasing a 14.75% CAGR during the forecast period. This can be attributed to low installation costs, encrypted security, and wide area network access. The segment will completely outperform on-premise segment owing to the high time required for installation.
Major Event Management Software Market applications include government, corporate, education, and association. The corporate segment can accrue earnings close to USD 6.68 billion by 2022, exhibiting a 13.94% CAGR over the forecast period. Large section of corporations are using event management software to manage their budgets and getting faster returns on investments. The education segment can accrue revenues close to USD 3.69 billion by 2022 owing to the emergence of various management schools and online sites using the software to gather potential clients for their business.
Regional Analysis
Region-wise, the market covers the latest opportunities in the following regions – North America, Asia Pacific, and Europe.
North America is expected to lead the event management software market thanks to the U.S. Other revenue generating countries in the region such as Mexico and Canada are expected to contribute to the market growth in the forthcoming years. The market size can balloon to USD 6.95 billion by 2022. The U.S market is predicted to exhibit a 13.68% CAGR over the forecast period.
The Europe event management software market is likely to grow at a CAGR of 11.23% during the forecast period. Investments by companies such as Cvent and Etouches coupled with innovations in the U.K. and Germany can drive the market growth.
The Asia Pacific region can induce substantial demand owing to the outsourcing of projects to the region by European and American firms. The trend of using event management software in India is likely to propel market growth slightly.
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Industry News
NeonCRM is an upcoming site dedicated to assist non-profit organizations to raise and accumulate funds quickly with its suite of event management tools. Its tools allow you to create, plan, and manage the event with ease. Its ability to integrate easily in websites is a huge plus.
Prominent companies such as Bizabbo are expanding into new spaces to enlarge their customer base. The company hopes to generate success in New York after raising nearly USD 30 million in funds.
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