CHICAGO, February 28, 2022 /PRNewswire/ — According to a new market research report “event management software Marlet with COVID-19 impact, by component (software [Event Registration and Ticketing, Content Management] and Services), Deployment Mode, Organization Size, End User and Region – Global Forecast to 2026“, published by MarketsandMarkets™, the Global Event Management Software market size to grow from $7.0 billion in 2021 for $14.1 billion by 2026, at a compound annual growth rate (CAGR) of 14.9% over the forecast period.
The event management software market is fueled by the rise in demand for capturing actionable business insights from events. With increasing competition in the global market, marketers continually strive to mine data for actionable insights. Event management software enables marketers to leverage the benefits of real-time data to extract actionable business insights from events needed to grow the organization. It also helps organizations capture and analyze attendee behavior, which helps them make effective business decisions.
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By organization size, large enterprise segment holds the largest market size during the forecast period
Under organization size, the large enterprise segment is expected to hold the largest market size in 2021. It helps organizations capture and analyze participant behavior, which helps them make effective business decisions. Large companies control complex systems and software. Events organized by large companies are relatively larger and more frequent compared to SMEs. Therefore, the adoption of event management software in large enterprises is higher than in SMBs.
By end-user, event organizers and planners segment is expected to grow at the highest CAGR during the forecast period
Among end users, the event organizers and planners segment is expected to grow at the highest CAGR during the forecast period. Event organizers and planners help organizers manage the full event lifecycle. He also manages the entire booking process, from request to confirmation of booking and occasions including ceremonies, weddings, concerts and social functions. Clients want to focus on their core business while outsourcing event management to organizers and event planners to run events efficiently and successfully.
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By region, North America to represent the largest market size during the forecast period
North America is one of the most technologically advanced regions in the world. The region has always been technologically ahead in terms of the adoption of cutting-edge technologies due to the high awareness among businesses of the benefits and the presence of expertise among the workforce to develop innovative solutions across all segments technologies. The event management software market is another technology segment where companies in North America stayed ahead of the curve to improve sales and marketing strategies. This growth can be attributed to organizations shifting from on-premises solutions and services to cloud-based solutions and services, as well as adopting digital business strategies. North America has also witnessed the earliest adoption of cloud and mobile technologies, which has significantly boosted the adoption of event management software solutions to improve the end-to-end customer experience.
The main suppliers of Event Management Software Market include Cvent (US), Aventri (US), Eventbrite (US), Ungerboeck (US), Hopin (UK), XING Events (Germany), Bizzabo (US), Certain (US), RainFocus (US) and ACTIVE Network.
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SOURCE Markets and Markets