Event management software companies provide software solutions for planning, organizing, and executing events of all sizes, including conferences, trade shows, and meetings. These platforms offer features such as registration, ticketing, attendee management, and event analytics. Event management software is essential for event professionals to streamline their operations and enhance the attendee experience.
Competitive Landscape of Event Management Software Market
The event management software market is experiencing significant growth, driven by increasing demand for streamlined event planning and execution. This report examines the competitive landscape of this market, analyzing key players, their strategies, and market share determinants. It also explores new and emerging companies and current investment trends.
Key Players in the Event Management Software Market
Strategies Adopted by Key Players
Key players in the event management software market are adopting various strategies to gain market share and differentiation. These strategies include:
Factors for Market Share Analysis
Several factors influence market share in the event management software market, including:
New and Emerging Companies
Several new and emerging companies are bringing innovative solutions to the event management software market. These companies often focus on:
These new entrants are posing a significant challenge to established players, forcing them to constantly innovate and improve their offerings to remain competitive.
Current Investment Trends
The event management software market is attracting significant investment from venture capitalists and private equity firms. This is due to the market's strong growth potential and the increasing adoption of event technology. Investors are particularly interested in companies that:
Latest Company Updates:
The debut of Toast Catering & Events, a new product completely linked with the Toast point-of-sale (POS) to enable restaurants effortlessly manage large catering orders and event planning, was announced today by Toast, the all-in-one technology platform designed for restaurants in 2023. Customizable banquet event orders (BEO), lead management features, and fulfilment capabilities are all supported by Toast Catering & Events.
2023 saw the release of new event management software for NGOs by Qgiv, a top supplier of digital fundraising solutions for charitable organisations. The platform, which costs $0 per month as part of the company's Starter plan, is intended to assist charitable organisations in increasing event registrations, attendance, and donations. This eliminates the need for overhead expenses associated with organising and launching events.
The new QRadar Security Suite, which IBM unveiled at the RSA conference in 2023, is intended to make the difficulties faced by security teams in charge of overseeing an ever-expanding array of security products easier to handle. The four main components of the mostly AWS-based SaaS solution QRadar are controlled from the main QRadar console.
A free virtual event management solution was introduced by Canapii, a company that makes event management software, in 2021 and is now accessible to all countries. With the release, companies may now hold virtual events for up to 75 attendees completely free of cost using Canapii's specialised events platform, which is used by some of the biggest brands in the world.
Event Management Software Market Size was valued at USD 6.5 Billion in 2022. The Event Management Software market industry is projected to grow from USD 7.5 Billion in 2023 to USD 18.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.12% during the forecast period (2024 - 2030). Increasing demand for software solutions for managing and tracking events, increased corporate promotional strategies, and increased local sports events management boost the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Marketers worldwide can use event management software to leverage real-time data, prepare actionable business insights from events, and use those insights to make business plans. As such, integrate event management software with various organizational systems, including accounting software, Customer Relationship Management (CRM) systems, marketing automation software, payment gateways, and collaboration platforms to get meaningful information.
Figure 1: Impact of event management software from different types of industries (on 100% Scale)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
According to our research from different firms, event management software is much needed to cater to new product launches, with an impact of 80%, followed by corporate advertising and a 74% impact. This shows companies' need for even management software, majorly for new product launches and advertising.
Based on application type, the Event Management Software Market segmentation includes Corporate, Government, Education, Event Organizers & Planners, and others. The Event Organizers and Planners segment accounted for the highest share market share of 34.5% in 2022 and is expected to remain dominant throughout the forecast period. Compared to internal planners, event planners have a more significant number of events to execute. Event planners may find great use in event management software. The segment is expanding due to the widespread usage of software and its numerous advantages. This software makes managing multi-channel marketing campaigns easier and records and studies how attendees make better business decisions.
Figure 2: Event Management Software Market, by Application Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
On the other side, the corporate segment is expected to become the second-highest event management software application in the upcoming years due to its rising demand. Corporations are increasingly favoring hosting virtual events. As a result, corporations are looking for specifically tailored solutions and services to conduct annual events like the Annual General Meeting remotely. These are some of the critical elements that the corporate category is anticipated to grow due to throughout the projection period. Also, the demand for hosting corporate events like seminars, summits, trade shows, or meetings has significantly increased the demand for corporate event planners on a global scale.
January 2023: - New Event Management software has been made available for nonprofits by Qgiv, a top supplier of online fundraising tools. The platform is included in the company's Starter plan and costs nothing per month to use. It was created to assist charitable groups in increasing event registrations, attendance, and donations.
February 2023 - Comsec, telecom and security solutions provider, Matrix intends to attend PACC 2023. Matrix will demonstrate COSEC ARGO FACE, a cutting-edge facial recognition door controller, during the event. This device is connected with various connections, including Ethernet, Wi-Fi, and PoE.
Based on component type, the Event Management Software Market segmentation includes software and service. The software segment accounted for the highest share market share of 80.3% in 2022 and is expected to remain dominant throughout the forecast period. The software segment drives the market expansion in this area and is deployed via the cloud. Event management software suppliers are gradually implementing real-time analytics solutions like Bluetooth transmitters and mobile analytics software. Apple initially created iBeacons, which improve event attendees' customer experiences by including gamification, alert messaging, and social information exchange. A large number of software products are utilized to plan various events, such as academic and professional conferences, trade shows, and other types of events; this broad range of software products is referred to as event management technology generally.
The Service category is also anticipated to grow with more growth opportunities. The professional and managed services various event management software companies provide to blame for the segment's expansion. Professional services are specifically designed to assist businesses in reducing security flaws and fortifying security precautions to ensure successful event management software deployment. Due to the maintenance of the life-cycle of events, including venue management, registration & ticketing, lead management, analytics, reporting, collection of payments, and more, this market is anticipated to grow significantly.
However, the demand for software and services, which presently hold a market share of more than 70%, is still growing. This demand has been explained by the continually increasing need for managed professional service providers for effective event organization that simultaneously manages security concerns.
Based on deployment type, the Event Management Software Market segmentation includes cloud and on-premises. The cloud segment accounted for the highest share market share of 56.4% in 2022 and is expected to remain dominant throughout the forecast period. Cloud-based event management systems make accessing data from remote places at any time simple and affordable. Without investing in specialized IT infrastructure, cloud-based deployment companies enable firms to set up a control center to monitor, arrange, and coordinate various aspects of their digital marketing campaigns, reducing IT expenditures and optimizing total cost structures. Additionally, it enables access to operational data at the right time and place for event planners. The main competitors in the industry are embracing cloud technology since it allows customers to store large amounts of data and files in a remote location and access them from any area with an internet connection. Consequently, cloud-based software solutions facilitate communication between employees, suppliers, and clients for event planners.
Furthermore, the on-premises category is also estimated to grow with significant growth in the future. "On-premises deployment" describes installing event management software on-site at a facility rather than at a remote location. As on-premises deployment only requires one-time licensing fees, it lowers service costs. Thus, event planners are more likely to stick with the on-premises implementation since corporations tend to depreciate their hardware and software expenses.
This market has been segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the highest share market share of 35.7% in 2022 and is expected to remain dominant throughout the forecast period. Moreover, financially secure nations in this region, such as the United States and Canada, are constantly open to new and emerging technologies. These nations have also consistently invested in cutting-edge technology to obtain dependable and compelling offerings. Vendors in North America are implementing cutting-edge technology to satisfy customer demand for better event management, collaboration and integration tools, and data analytics. The existence of established companies, along with the development of small players in the area, is one of the critical elements driving the expansion of this software.
On the other hand, the Asia-Pacific region would also grow with more opportunities. Its surge is primarily due to the spread of smartphones and the cloud platform's ongoing development. The market, which will be mainly benefited from the booming IT sector, expanding business world, and endless abundance of skilled workers, will be dominated by China and India. The region's growth is rather sluggish due to the substantial prevalence of traditional event-organizing techniques.
Figure 4: EVENT MANAGEMENT SOFTWARE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Also, to expand their business solutions, startups and established enterprises in APAC are adopting Event Management Software. Banks operating in APAC can access BDaaS thanks to service providers like SAP and IBM. Real-time monitoring and huge cloud services enabling simpler data retrieval to optimize workflows are some of the main advantages of these services.
Market players choose a variety of techniques and laws to increase their consumer base. Extensions, joint ventures, new production techniques, inventions, collaborations, mergers, acquisitions, establishments, technology expansion of current items, partnerships, etc. are a few examples of these tactics. These tactics are intended to broaden the market's user base. In order to strengthen their positions in the market, these market participants are also pursuing a number of additional strategic activities, such as joint ventures, the introduction of plans, and signing contracts and agreements.
The major market comes from the smaller businesses who are entering the market with new technology, are actively bolstering their market positions. Although event management software is essential for significantly lowering personnel expenses, many firms still face high upfront installation costs. Consequently, during the course of the forecast period, these factors are anticipated to restrain the growth of the worldwide event management software market. Some of the major players operating in the market are Eventbrite, Cvent, XING Events, ACTIVE Network, etouches, EMS Software, Ungerboeck Software International, SignUpGenius, and Certain.
February 2023: - Veeam Software announced a brand-new data platform that combines its current data management and protection products with a ransom ware warranty for users. The most recent version of Veeam's flagship backup and recovery software forms the basis of the data platform.
February 2023:- The launch of Captello's new GOALS solution, which was created to tie various event activations into a system of goals and objectives intended to reward audiences and participants who meet or exceed engagement milestones set by event organizers, is announced. Captello is the event industry's most complete Event Software Platform.
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