Research firm MarketsandMarkets valued the global event management software market at $3.6 billion in 2020 and expects it to reach $6.4 billion by 2026, growing at an annual compound rate of 10%.
In its report, the company cites growing demand for event automation, increased demand for capturing actionable insights from events, and increasing use of social media for event marketing as key growth drivers.
Event management software includes a wide range of products used to improve event quality, provide better visibility for event organizers, and streamline event planning, scheduling, and marketing processes, according to MarketsandMarkets. It also includes venue management software, event registration and ticketing. computer software, event planning software, event marketing software, analytics and reporting software, visitor management software, content management software, onsite technology and others, such as resource planning software and recovery software.
The report identifies Cvent, Aventri, Eventbrite, XING Events, Ungerboeck Software, Bizzabo and Certain as key market players. He also points out that the sudden closure of offices, schools, universities and physical retail stores due to COVID-19 has led to an increase in demand for digital tools and services for the workplace, such as such as Zoom, Slack, Blackboard, Lynda, Canvas, Google Classroom, AnyMeeting and Moodle. Amazon Web Services, Microsoft and Google host and manage all applications in a public cloud environment.
The report also notes that many enterprises today are deploying cloud-based event management solutions to improve mobility and decentralize data storage and computing while taking advantage of the pay-as-you-go option and reduced installation and maintenance costs associated with software as software. – service model.