The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global event management software market size is expected to grow from USD 3.6 billion in 2020 to USD 6.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period. COVID-19 has globally changed the dynamics of business operations. Though the COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has offered several opportunities to event management software vendors to expand their business across enterprises as the adoption of cloud has increased in lockdown caused due to COVID-19. Amidst lockdown, many companies are reducing their IT spending in 2020.
Support and maintenance services to help enterprises in achieving flexibility in business operations
Support and maintenance services are crucial, as they directly deal with customer satisfaction and issues. Every software vendor has a dedicated support team to serve the customers. Support, software maintenance, customer portal, post-deployment assistance, and client testimonials are some of the services provided under the support and maintenance segment. To derive consistent customer satisfaction, service providers regularly focus on enhancing their product knowledge base by receiving feedbacks through interviews and surveys. These services also provide a single point of contact that would help solve customer issues quickly. The customer portal is another helping aid that offers technical tips and software updates to customer forums.
Event organizers and planners to grow at the highest rate during the forecast period
Event organizers and planners help organizations in developing and planning events for their clients. The events include creating effective invitations, managing registrations, organizing housing and travel preferences, collecting online payments, and viewing reports in real time. Event organizers and planners help organizers in the management of the complete event life cycle. Event management in this end user segment offers a potent mix of office control with local autonomy to execute centralized decisions. It also manages the entire booking process, from inquiry to confirmation of booking, and occasions, including ceremonies, weddings, concerts, and social functions. Cvent is a leading provider of event management software for third-party planners.
North America to hold the largest market size and Asia Pacific (APAC) to grow at the highest rate during the forecast period
North America is the most mature market in terms of event management software solutions adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for event management software solutions vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt event management software solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.
The breakup of the profiles of the primary participants as follows:
- By Company Type: Tier I: 37%, Tier II: 25%, and Tier III: 34%
- By Designation: C-Level: 31%, D-Level: 34%, and Others: 25%
- By Region: North America: 46%, Europe: 28%, APAC: 18%, Row: 8%
The report segments the global event management market by component, the event management software market has been segmented into software and services. The services segment is further segmented into professional services and managed services. Wherein, professional services consist of consulting, deployment and integration, support and maintenance. By the deployment model, the event management software market has been segmented into cloud and on premises. Based on organization size, the market has been classified into Small and Medium-sized Enterprises (SMEs) and large enterprises. By end users, the event management software market has been classified into event organizers and planners; corporate; government; education; and others. By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the event management software market with information on the closest approximations of the revenue numbers for the overall event management software market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.