Pune, India, February 24, 2021 (GLOBE NEWSWIRE) – The world EMS market is likely to benefit from the ever-increasing adoption of cloud technology by reputable companies. This technology helps end users to store large amount of files and data and access them from any part of the world connected to the Internet. The market size for event management software was $ 6.63 billion in 2018 and should reach $ 16.11 billion by 2026, showing a CAGR of 11.8% over the forecast period.
Fortune Business Insights ™ provided this insight in a recent report titled “Event Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Deployment (Cloud, On-Line) site), by company size (SME, Large companies), by end user (government, company, event planners, education and others) and regional forecasts, 2019-2026 ”.
This report answers the following questions:
- How many opportunities and challenges will the market encounter in the years to come?
- What important strategies are adopted by companies to gain competitive advantage?
- What are the trends, barriers, and growth drivers in the EMS market?
- Which organizations would dominate in terms of revenue?
- Which region is likely to dominate the market with the highest share?
Click here to learn about the short and long term impact of COVID-19 on this market.
Key players engage in strategic collaborations to expand their geographic presence
Companies present in the market are constantly working to strengthen their position in the market by adopting the strategy of collaborations and partnerships. Some of the other national and regional companies are introducing new software solutions to meet the growing demand of the masses. Below are two of the latest developments in the industry:
- june 2018: Eventbrite, a US-based event management and ticketing website, has partnered with Elrow Family, a Barcelona-based event concept and party series. This collaboration would allow the former to manage the ticketing of more than 100 shows and more than 2.4 million visitors per year for Elrow. It includes shows in Ibiza, Madrid and Dubai.
- november 2017: etouches, a Connecticut-based cloud-based event management software company, has partnered with United Networks of International Corporate Event Organizers (UNICO). This would help the former to expand its consumer base.
Conductors and constraints-
Growing adoption of social media platforms to drive growth
In today’s tech-driven world, social media platforms are used by almost everyone across the globe. These platforms are free and robust. Hence, they help event planners achieve their business goals. Social media marketing and advertising allows them to acquire a large consumer base by tracking their website traffic. These platforms also help reshape the reputation of a particular business.
The use of Instagram platforms, namely Facebook, LinkedIn and Twitter is increasing day by day among event planners. Additionally, tools like Mention, Oktopost, and Hootsuite help them analyze the type of content, as well as the top performing channels that users would like. These factors are expected to increase the growth of the event management software market over the next few years. However, the integration of EMS solutions requires high technical expertise. The lack of the latter can hamper the growth of the market.
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The corporate segment will remain at the forefront, fueled by the increase in the number of events
Based on the end user, the market is grouped into education, event planners, business, government, and others. Among these, the enterprise segment is expected to dominate by holding the largest EMS market share in the coming years. This growth is attributable to the increasing number of events, such as meetings, trade conferences, summits and seminars that take place in the corporate sector. Hence, event planners invest huge sums in organizing these big events in this industry. The general government segment generated a share of 12.6% in 2018.
Ongoing development of cloud platforms to drive growth in Asia-Pacific
Geographically, the event management software market is fragmented in Asia Pacific, Middle East & Africa, Latin America, Europe, and North America. Of these, North America held $ 2.32 billion in revenues in the EMS market in 2018. The region is expected to experience considerable growth throughout the forecast period, supported by the presence of financially stable countries. such as Canada and the United States in this region. These countries are constantly investing in the development of advanced technologies to obtain efficient and reliable services. Software solutions with unique features provide better tools for data analysis, integration and collaboration, and smooth event management.
Europe and Asia-Pacific, on the other hand, are expected to show significant growth due to the continued development of cloud platforms, as well as the growing number of smartphone users. In addition, the ever increasing number of events consisting of product launches, comedy shows, trade shows and musical concerts in the two regions would contribute to the growth of the market in the near future.
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The list of key companies profiled in the EMS market is:
- Active Network, LLC
- Aventri, Inc.
- Grenadine Technologies Inc.
- Certain Inc.
- EMS Software, LLC.
- Event espresso
Main Table of Contents:
- Definition, by segment
- Research approach
- Market dynamics
- Drivers, constraints and opportunities
- Emerging trends
- Key ideas
- Macro and micro economic indicators
- Consolidated SWOT analysis of the main players
- Global Event Management Software Market Analysis, Outlook and Forecast, 2015-2026
- Main conclusions / summary
- Market size estimates and forecasts
- By component (value)
- Professional services
- Managed Services
- By deployment (value)
- By organization size (value)
- By end user (value)
- Event planners
- By region (value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By component (value)
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