DUBLIN--(BUSINESS WIRE)--The "Event Management Software Market by Component (Software (Event Registration and Ticketing Software, Event Planning Software, Event Marketing Software) and Service), Deployment Type, Organization Size, End User, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Event Management Software Market is projected to grow from USD 5.7 billion in 2019 to USD 11.4 billion by 2024, at a CAGR of 15% from 2019 to 2024.
- Rising Demand for Event Automation Among Marketers
- Increased Demand to Capture Actionable Business Insights from Events
- Growing use of Social Media for Event Marketing
- Increasing Adoption of Advanced Data Analytics Solutions
- Difficulty in Integrating Event Management Software with Business Systems
- High Initial Cost Associated with Event Management Software
- Gamification of Events to Engage Audience
- Advancements in Augmented & Virtual Reality
- Use of AI & Machine Learning in Event Management
- IoT as a Facilitator in Event Management
- Wide Gap Between Organizers' Offerings & Attendees' Needs
- Lack of Awareness of Event Management Software
Growing demand for event automation and an increasing focus on gaining actionable business insights from events are driving the growth of event management software market
This market is driven by the growing need for software to plan, manage, and automate the activities associated with events throughout its lifecycle. On the other hand, the integration issues of the software in the existing system or software packages of an organization is one of the major restraints for the event management software market.
Event management software is expected to hold the major market size during the forecast period
The event management software refers to a wide range of software products used in the management of trade exhibitions, conferences, and events. It helps enhance the quality of events and provides enhanced visibility for event organizers.
Managing events require many hours of hard work of the existing resources; therefore, to streamline the planning, scheduling, and event marketing processes, various organizations are opting for the event management software, which helps them in facilitating reliable and outstanding services to the attendees and customers at a lower cost.
The event management software segment is divided further into venue management software, event registration & ticketing software, event planning software, event marketing software, analytics & reporting software, and others (mobile apps, content management, booking and billing, resource scheduling, visitor management, and catering).
On-premises deployment is expected to hold the major market size during the forecast period
The on-premises deployment type refers to the installation of the event management software on the premises of an organization rather than at a remote facility. On-premises solutions are delivered with a one-time licensing fee, along with a service agreement. Furthermore, deployment of this solution requires huge infrastructure and a personal data center, which is affordable only for large organizations. Hence, SMEs often face the dilemma of choosing between the hosted and on-premises solutions.
In spite of advantages, such as control over the system and data, and dedicated staff for maintenance and support, the on-premises deployment type has various drawbacks, which include high deployment costs and good infrastructure requirements that are not always possible for every organization. The growth of the on-premises deployment type is expected to be affected by the rapid development of cloud computing solutions.
North America is expected to hold the major market size during the forecast period
North America consists of developed countries, such as the US and Canada. This region is open to the adoption of new and emerging technologies. Moreover, its strong financial position allows it to invest heavily to adopt the latest and leading tools & technologies for ensuring effective business operations. Such advantages help organizations in this region gain a competitive edge.
North America has the first-mover advantage in the adoption of new technologies, such as smartphones and cloud platforms. The factors expected to be driving the growth of the event management software market in North America are the stable economy, technological enhancements, and advanced infrastructure costs. APAC is one of the fastest-growing regions and has a favorable market for event management software and service vendors. India, China, Australia, and Japan are significant contributors to the event management software market growth in APAC.
- 5 Use Cases
- Augmented Reality & Virtual Reality
- Artificial Intelligence
- Smart Displays
- Wearable Technology
- Internet of Things
- Radio Frequency Identification
- ACTIVE Network
- XING Events
- Gather Technologies
- Meeting Evolution
- Ungerboeck Software
For more information about this report visit https://www.researchandmarkets.com/r/s5e1fi