LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global event management as a service market to grow at a CAGR of over 11% during 2018-2022. The emergence of iBeacons for event management is a key trend which is expected to impact the growth of the market.
iBeacon is a protocol that was developed by Apple in 2013. It works on the Bluetooth-based beacon concept and is used to sense the proximity of nearby iOS devices. This technology when coupled with event management software has the potential to drive significant change in the event management industry.
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In this report, Technavio researchers identify the increasing demand for online registration and payment as one of the key factors contributing to the global event management as a service market:
Increasing demand for online registration and payment
Digital currencies and online payments are gaining traction worldwide. Organizations are implementing online transactions for event registration and payment acceptance during activities to ensure convenience and efficiency. Online registration and payment through the cloud facilitates cost reduction and provides opportunities for organizations to learn the spending patterns of customers.
“The data is automatically synced with the software and remains up-to-date with event details. In addition, cloud offerings also provide automatic online registration, which is used for tracking and managing online payments. It is also used to store user details and send notifications if required,” says a senior analyst at Technavio for enterprise application research.
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Global event management as a service market - segmentation and analysis
This market research report segments the global event management as a service market by end-user (corporate, PO and NGO, and individuals) and key regions (Americas, APAC, and EMEA).
The corporate segment accounted for more than 61% of the market share in 2017, followed by the PO and NGO segment. The market share of the corporate segment is expected to decrease by close to 4% while the PO and NGO segment is expected to witness a 3% increase in its market share over the forecast period.
In 2017, the Americas dominated the global event management as a service market with a revenue share of more than 68%, followed by EMEA and APAC. The market share of APAC and EMEA is expected to witness a significant increase, while the Americas will see a decline of close to 5% in its market share by 2022.
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