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Event Management Software Market Drivers Growing Demand to Capture Actionable Business Insights from Events

HYDERABAD, TELANGANA, INDIA, December 27, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Event Management Software Market size was valued at $5.1 billion in 2020, and it is estimated to grow at a CAGR of 12.0% during 2021-2026. Rising demand for event automation among marketers or organizers and the growing usage of social media for event marketing and event planning and increased adoption of advanced data analytics solutions is set to drive the market. Organizing of international events and adoption of this software for event registration in developed and developing countries will further enhance the overall market demand for Event Management Software during the forecast period 2021-2026. . The market growth is attributed to the benefits of the event management tools including real time threat visibility, vigilance of event safety, continuous compliance reports, low operational cost, improved time management and others. The short term impact of Covid-19 on events and thereby the software related to this is projected to cause a major decline in 2020 with a slow recovery through 2022. However post that market is expected to experience significant growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. North America had dominated the Event Management Software market in 2020 owing to early adoption of advanced technologies and high investments in adopting them.

2. Acquisitions and partnerships of the companies had helped the companies in developing new software tools and expansion of the companies and this is poised to boost the event planning software.

3. Rising demand for event automation and growing focus towards gaining actionable business insights from events are the major driving factors for the event or task management software solutions.

4. Innovation in technologies and integration of event planning software with Artificial Intelligence (AI) technology is set to boost the event management software market.

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Segmental Analysis:

1. Event Marketing is the fastest growing sector in Event Management Software market and estimated to grow at a CAGR of 13.9%. Event management software (EMS) should be equipped with a set of event marketing tools for marketing to be done.

2. Third-Party Planner is the fastest growing segment in Event Management Software market and estimated to grow at a CAGR of 11.5%. Third Party Planners have been the primary end users for Event Management Software.

3. North America dominated the Event Management Software market in 2019 with a share of 36.1%, followed by Europe and APAC. High adoption of new emerging technologies such as smartphones, AI and cloud platforms in U.S. region for event management is set to boost the market growth.

Competitive Landscape:

The top 5 players in the Event Management Software industry are -

1. Active Network

2. Cvent

3. Event Booking

4. Arlo

5. Attendify

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