The global Event Management Software Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period, to reach USD 6.4 billion by 2026 from USD 3.6 billion in 2020. Increased adoption of cloud, reduced time and costs, and enhanced need of business agility are expected to spur the demand for event management software offerings across the globe.
The market is expected to be driven by the need of enhanced event management software
The event management software refers to a wide range of software products used in the management of trade exhibitions, conferences, and events. It helps enhance the quality of events and provides enhanced visibility for event organizers. Managing events require many hours of hard work of the existing resources; therefore, to streamline the planning, scheduling, and event marketing processes, various organizations are opting for the event management software, which helps them in facilitating reliable and outstanding services to the attendees and customers at a lower cost. The event management software segment is further divided into venue management software, event registration and ticketing software, event planning software, event marketing software, analytics and reporting software, visitor management software, content management software, onsite technology, and others (resource scheduling software and catering software).
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Increased scalability and flexibility is driving the adoption of cloud-based deployment
Cloud-based services are provided directly through the cloud-deployed network connectivity. These services help in reducing the overall costs while providing highly flexible and scalable access to event management solutions through the IT infrastructure, hosted by cloud service providers. Companies are deploying event management solutions in the cloud to improve their mobility and decentralize data storage and computing. Security is a critical issue, which restricts the adoption of cloud services. However, this issue is gradually eradicated by conducting rigorous security tests to the highest standards by third parties. Owing to various advantages, such as pay-per-use option, and reduced installation and maintenance costs, several enterprises are switching from the on-premises event management software to the Software-as-a-Service (SaaS)-based software.
The event management software market includes major vendors, such as Cvent (US), Aventri (US), Eventbrite (US), XING Events (Germany), Ungerboeck Software (US), Bizzabo (US), Certain (US), Attendify (US), RainFocus (US), ACTIVE Networks (US), Eventzilla (US), Meeting Evolution (US), EventMobi (Canada), Zoho Corporation (India), Regpack (US), EventBooking (US), Bitrix24 (US), Arlo (UK), WebMobi (US), Tripleseat (US). Hubilo (US), Circa (US), Hubb (US), Accelevents (US), Glue Up (US), idloom (Belgium), Eventdex (US), Event Temple (Canada), eventuosity (US), and Whova (US). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Aventri, Cvent, XING Events, Eventbrite, ACTIVE Network have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the event management software market.
Aventri has been working extensively toward becoming an exclusive event management software provider. It primarily intends to improve the technology usage experience for both personal and commercial clients. The company aims at providing customers with economical and convenient solutions offerings integrated with the latest technology services. It has a strong presence in the event management software market, with robust solutions and services and a strong ecosystem of strategic partners. These strategic partners include Smart Meetings, Meeting Plus Moore, Conference Direct, and more. The company focuses on developing new and efficient solutions increasing its service offerings in event management software. Its customer base is spread across several industry verticals, including manufacturing, IT, BFSI, and telecom. Its strong presence across the globe is one of the key factors for its high share in the event management software market. Moreover, Aventri quickly adapted to the changing situation caused by the COVID-19 outbreak and started helping clients in the most creative ways. Aventri offered its registration and website solutions free of charge for those who were looking for easy, quick, and safer ways to provide those services and many more to their communities. Aventris registration and website solutions allow people to:
- Set up online portals to easily take requests for services
- Sign up for specific pick up times for meals or shopping
- Submit volunteer information
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Cvent is an eminent player in the event management software market, as it provides strong event management offerings, including solutions and products. The company is currently focusing on catering to its customers with highly competent technology-enabled products and services in event marketing, attendee management, suppliers, and venue management to sustain competition. The growing demand for online event management solutions is also gaining traction and benefitting strong players, such as Cvent. The organization aims at delivering innovative solutions and improved event operations, thereby satisfying its customers. The key factors responsible for major shares in the market are wide geographic reach, strong distribution channels, and enhanced event management solutions offerings. Cvent is taking initiatives to help clients during the COVID-19 pandemic. The company is offering creative and innovative solutions to its clients to conduct virtual events. Moreover, the company launched a global database of venue health and safety information within the Cvent network and announced the launch of standardized COVID-19 related business transient questions for safer and more efficient sourcing.
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