Event Management Software Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2367
Event Management Software Market size is driven by the need to plan an event in a fast and efficient manner. The key metrics for a successful event for event organizers include satisfaction of attendees and revenue generation. Event management software is a business solution that is concerned with various steps of event organization, which comprises event planning to post-event steps. Some applications emphasize on specific event organization processes, which consist of ticketing, registration, schedulers, surveys, analytics, and floor planning. Some solutions, which are end-to-end systems also provide tools for the complete event lifecycle. The management software is used in the management of academic and professional conferences, meetings and conventions, and trade exhibitions.
Enterprises have now understood the importance of events and launches, improving the market for the event management software. It helps companies in developing, promoting, and managing the event. This enables branding of the event with encouragement to discussions and monitoring every aspect of the event. The final decision about the event and the supervision with the help of analytics ensures that customer feedback is available to make promotion strategies for future events. Furthermore, the software gives flexibility to customize and build a brand for the event by designing applications and websites as per need. The event management software caters to various event planning tasks, which can be managed from a single platform, reducing cost operations and time. Event management software includes a set of features comprising a dashboard for planning networking platform, event website, and event analytics.
Some of the widely used applications of the event management software include the creation of customized websites for the event, venue selection, RFPs, sourcing and procurement, live slide sharing, second screen tool for Q&A and live polls, audience response solutions, exhibition management, delegate management, and online registration with online payment and on-site operations comprising badges, registration, and networking.
However, critical drawbacks of the software are complexity, cost ineffectiveness, integration problems, lack of support, and overlapping functionalities. The software needs to be simplistic for the user, which enables the software to be utilized as per the desired workflows. The software needs to be flexible to integrate with other business systems to avoid experiencing incapability to generate insights. The software needs to be updated to check end-to-end event solutions and work efficiently and cover full-event stages.
The event management software market is growing in geographical regions of APAC and the MEA due to an increase in the musical events and stand-up comedies. Americas hold the majority of the market owing to the rise in corporate and commercial events. Europe is expected to have a moderate growth due to events taking place in Western Europe, especially stand-up comedy shows and launches of new products by the telecom industry. China and India are likely to be the beneficiaries of this software owing to changing lifestyles and the focus on business outlook by enterprises.
It is estimated that the adoption of event management software shall witness a positive graph in the industry owing to the technologies such as AR, drones, beacons, and wearable devices. Some of the players present in the event management software market are Eventbrite, Ticket Tailor, Eventzilla, Cvent, XING Events, Voxvote, 123ContactForm, Acuity Scheduling, and Livestorm. The majority of the market is taken care by pure players, trying to customize their solutions according to the customer demand and improving their brand value.
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