The GMI Research speculates that the Event Management Software Market will encounter a bolstering demand over the forecast period. This is because of the ongoing efforts to harness data to get actionable perception and the mounting number of cultural events.
Introduction of the Event Management Software Market
It refers to a platform that helps to manage all logistics resulting to and through an occasion. The software mechanizes and interprets the overall planning process. The solution emphasizes the properties of arranging post-event stages. It includes a variety of tools used to minimize time-consuming tasks and facilitate events management.
Key Players of Market:
- Hubilo Technologies Inc.
- New Work SE
- Aventri, Inc.
- Certain, Inc.
- Cvent Inc.
Event Management Software Market Dynamics
he factors energizing the growth of the global event management software market are the surge in internet connectivity on mobile phones, mount in a number of cultural programs such as social services and charity, collocated by the small and medium enterprises for the business program throughout the world. In addition, the extension in the global market has persuaded vendors to direct the data for illegal purposes, which further adds to the market growth. Furthermore, the software needs to be incorporated with systems such as Customer Relationship Management (CRM), collaboration platforms, payment gateways, and accounting software to execute this data and business observation. Moreover, it allows enterprises to schedule the complete lifecycle of their events and business objectives, thus offering Chief Marketing Officers (CMOs) crucial business perceptions from the data cumulated via several business events. Besides this, the sudden spread of the coronavirus pandemic had a negative impact on market growth. This is mainly because of the huge effect on live shows and events as they suffered an extensive loss with the lockdown norms imposed across the nation. For example, the Event and Entertainment Management Association (EEMA) stated that the Indian live events industry, in March 2020, suffered a degeneracy of INR 3,000 crore during the lockdown.
However, as per the event management software market report, low knowledge concerned with the product across developing regions as a result of the insufficient skills and the need to tackle the accelerating number of cyber-attacks violating the security of the data will restrain the market growth. Moreover, the complications of integrating software with business systems are further hindering the event management software market size.
Components Segment Drivers
Based on components, services are anticipated to bolster at a higher rate over the coming years. The validation and continuance services help to review the customer problems. Also, software vendors have a dedicated support team to settle their problems. The providers concentrate on enlarging their product knowledge by asking for feedback via surveys and provide an enhanced experience to customers.
Based on the regional coverage, Asia-Pacific will sustain its supremacy over the coming years. The aggravating endorsement of this software in countries like India and China and the rigorous demand for better designs and varying products have impelled the market growth. Furthermore, the soaring population with rapid urbanizations is encouraging the establishment of infrastructure across the domestic and commercial sector, which has contributed to the Event Management Software Market Share.
Event Management Software Market Segmentation:
Segmentation by Component
- Professional services
- Deployment & integration
- Support & maintenance
- Managed services
Segmentation by Deployment type
Segmentation by Organization size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Segmentation by End-users
- Event organisers and Planners
Segmentation by Region:
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- South Africa
- Saudi Arabia
About GMI Research
The market research and consulting enterprise imparts business perception and research reports to support clients in formulating strategic norms and attain a feasible growth in the market domain. The large team of GMI Organisation experts offer a comprehensive solution for the client. The market research reports include a complete analysis, which includes sophisticated prediction, competitive landscape, crucial factors impacting the market growth, and other perceptions to assist companies in making intended decisions.