The increasing number of events demands effective event management software for proper organization. The universities, companies, agencies, and the public, as well as the private organizations, are conducting different events regularly. Effective planning and management become the key requirement for the success of the events.
The event management software is gaining momentum due to its ability to provide effective solutions to event professionals. The employment of the mobile application for event management is further bringing revolution in the industry. The event management software allows the delivery of personalized event experiences. The easily accessible feature of the software on mobile phones drives the growth of the global event management software market.
The key players in the global event management software market are Cvent, Active Network, Xing Events, Eventbrite, and Etouches. The competitive players are expected to use collaborative initiatives to attain greater profits and expand their market share. The growing demand for effective event management will witness partnerships among the leading companies.
The trend of mergers and acquisitions is expected to grow in the global event management software market during the forecast period.
The global event management software market is broadly divided basing on deployment type, application, organization size, social networking sites, services, and region.
Based on the deployment type, the global market is subdivided into the cloud and on-premises. The on-cloud segment is anticipated to witness growth during the forecast period. The easy accessibility to a wide area network, the low cost of installation and the encrypted security are the propelling reasons for the potential growth.
Depending on the application, the market for event management software includes education, government, association, and corporate. The corporate segment is expected to witness the highest growth during the forecast period.
By organization size, the market is segmented into large enterprises and small and medium-sized enterprises.
Based on the social networking site, the market segmentation includes Facebook, Twitter, LinkedIn, and other sites.
Depending on the services, the event management software market includes managed services and professional services.
Geographical Market Segmentation
In terms of regional segmentation, the global market includes North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
North America is the leading region of the global event management software market. The presence of well-established event management companies, the growing demand for advanced solutions, and the effective implementation of event management software are the key drivers of the market growth in North America. The increasing adoption of the software marathons, educational events, film festivals, and athletic events is driving market growth.
The Asia Pacific region is anticipated to experience slow market growth during the forecast period. The lack of awareness about the event management software accounts for the slow growth in the region.
The recent merging of Cvent with Lanyon Solutions, a subsidiary company of Cvent has been successful in making Cvent the leading player in the industry. The merging of Cvent with Ungerboeck Software can provide all the event management solutions on a single platform. The mergers of Cvent have helped the company to outweigh its competitors and stand out unique.
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