Impact of COVID-19 on the Global Event Management Software Market
The event management software market has witnessed a negative impact since the outbreak of COVID-19 in December 2019. The pandemic has resulted in numerous countries imposing lockdowns and shutting down businesses except for essential services (allowed with minimal workforce). These lockdowns have brought parties and events to a standstill in recent months. Events or functions are considered as an essential and useful way of communication between people. Companies, universities, government agencies, public/private associations, and institutions in the hospitality sector conduct events regularly. Planning is essential for event registration, venue sourcing, attendee management, session management, event marketing, on-site technology (mobile apps, speaker management, and others), among various other tasks in event management. This planning requires months of preparation, pre-booking of venues and hotels or rooms, marketing, and a lot of paperwork, making it challenging and tiring to manage all these tasks independently. The demand for event management software is anticipated to recover in the coming months as several governments prepare to lift the lockdowns in a phased manner. The governments of several countries have granted permission to the majority of the businesses to restart their operations in compliance with the safety guidelines. In the long run, the demand for event management software is anticipated to grow significantly.
An event management software is a solution that addresses all the challenges related to planning from a single platform. An event planner can register events online, can send emails and event details to the target audience, track appropriate venues with regards to availability and associated costs, can manage sessions, can conduct surveys to understand the feedback, and can create a customized environment for attendees to interact with the speakers as well as with audiences. Event management software helps event professionals in delivering thousands of successful events every year. The most popular applications of event management software are in creating customized event websites, online registrations including online payments, venue selection, content management, floor planning & designing, networking, and creating online polls for taking feedback from an audience.