Event Management Software Market Anticipated to Cross Market Value of USD 14.45 Billion by 2022 at 11.39% CAGR

PUNE, India, Aug. 23, 2017 -- Market Research Future has a cooked research report on the Event Management Software Market which contains information from 2016 to 2022.

Market Research Future (MRFR) recognizes the following companies as the key players in the Event Management Software Market: Cvent Inc. (U.S.), Etouches (U.S.), Eventbrite (U.S.), Lanyon Solutions Inc. (U.S.), Bizzabo (U.S.), Certain Inc. (U.S.), Regfox LLC (U.S.), Ungerboeck software International (U.S.), Pulse network (U.S), and Active network LLC (U.S) among others.

Global and Regional Market Forecast and Highlights:

The Global Event Management Software Market is estimated to reach USD 14.45 billion by 2022 from USD 7.57 billion in 2016 with a growing CAGR of 11.39% during forecast period 2016-2022.

Geographically, North America is the leading region in the event management software market where U.S. occupies highest market share in the region. More than 50% market revenue comes from U.S. only due to the established event management software market.  Other countries such as Canada and Mexico are the growing countries in the region. It is estimated that North America would reach USD 6.95 billion by 2022 from USD 3.37 billion in 2016, where U.S. is estimated to grow with the highest CAGR of 13.68% during forecast period 2016-2022.

Europe is a fast growing region in the event management software market and is estimated to grow with a CAGR of 11.23% during forecast period. Growing investment by key players, namely Cvent & Etouches, and increasing technical innovations in the businesses of Germany and UK.

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Market Application Insights:

Event management software majorly categorized into five types pertaining to different functions, namely, analytics software, event registration software, event marketing software, mobile event app, and venue sourcing software. At present, event registration software is used by event planners on a major basis and is showing highest revenue of USD 2.43 billion in 2016, which is expected to reach USD 4.99 billion by the end of forecast year 2022, with a CAGR of 12.73%. Event marketing is the second highest revenue generated software of USD 1.88 billion followed by on-site technology and venue sourcing software.

MRFR Research and Analysis:

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

“Events or functions are considered as an important and effective way of communication between clients and companies. Companies, universities, government, public/private associations, agencies and other hospitality sectors conduct events on a regular basis. For the success of these events, well-designed planning is required pertaining to event registration, venue sourcing, attendee management, session management, event marketing, on-site technology (mobile apps, speaker management and others), among various other tasks. This event planning requires months of preparation, pre-booking of venue and hotels or rooms, marketing, and has to keep record in form of paper work. Hence, it is very difficult and tiring to manage all these tasks independently.”

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Event Management Software Market Segmentation:

Event management is the process of creating and developing of small and large scale festivals, concerts, corporate presentations, ceremonies and many more events. It includes tasks such as brand study, categorizing target audience, budgeting, scheduling, venue sourcing, transportation, and parking among others. These applications thereby require lots of paper and manual work and thus is a very tedious job for event planners. Event management software consists of various type majorly categorized into analytics software, event registration software, event marketing software, On-site technology and venue sourcing, among others.

The software market is further classified into two deployment methods namely cloud and on-premise deployment. On-premise deployment is majorly used deployment method before rising cloud technology market. Due to the high cost associated with hardware and software and time-consuming installation process, the demand of on-premise deployment method decreases since past few years. Whereas, easy installation, wide area network access, low installation cost, and high security features provided by cloud has increased its demand and adoption rate among application sectors especially corporate, education and government sectors.

Regional Analysis:

Regional analysis for Event management software market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Event Management Software market. The study indicates that North America and Europe held a significant share in the global market on account of heavy applications in industrial manufacturing and healthcare sectors.

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