Event Management Software Market to Gain USD 14.1 Billion by 2031 | SkyQuest Technology
Westford, USA, Oct. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Event Management Software Market will attain a value of USD 14.1 Billion by 2031, with a CAGR of 14.1% during the forecast period (2024-2031). As technology advances, event management software becomes more and more adept at processing data. So, the organizer of events can gather data and analyse it concerning characteristics, inclinations and behaviours of these people. Informed decision making, enhancement of following occasions as well as customizing an experience for participants are made possible through such information. Therefore, these factors contribute to market growth.
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Browse in-depth TOC on the " Event Management Software Market "
- Pages - 157
- Tables - 169
- Figures – 79
Event Management Software Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $7.9 Billion |
| Estimated Value by 2031 | $14.1 Billion |
| Growth Rate | Poised to grow at a CAGR of 14.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Service, Professional service, Deployment type, Organization size, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Centralized cloud solutions revolutionize financial control and promotion |
| Key Market Opportunities | Rising demand for communication platforms across enterprises |
| Key Market Drivers | Transforming event management through data-driven insights and forecasting |
Large Enterprises to Dominate the Market Due to Significant Budgets Enable Investment in Advanced Technologies
Huge corporations lead the global market for event management software due to their wealth of resources and intricate demands that require specialized solutions. Consequently, they can acquire modern and sophisticated tools and feature-rich software which enhances scalability and operational efficiency through large budgets. As a result, this strengthens their hold on the industry by using advanced event management capabilities for efficiently handling a variety of large-scale events.
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Software Component is Largest Growing Sub-Segment Due to their flexibility and scalability
Due to their scalability and versatility, software components have taken the lead in the global event management software market. Sophisticated software features enable complete event planning, real-time management and data integration. Due to its flexibility, many organizations looking for efficient, customizable solutions to enhance overall productivity and run event operations have taken up this approach as it can handle complex requirements as well as different event specifications.
Several Prominent Market Players based in North America, Helped them to Dominate the Market
North America was the market leader in 2020, holding a market share of more than 45.0%. The fact that there are numerous well-known market participants in North America, such as Glue Up, Aventra Inc., and Bizzabo, in addition to a large number of small and medium-sized enterprises, is encouraging for the region's expanding use of event management software.
Event Management Software Market Insight
Drivers:
- Integration of Technologies such as AI
- Demand for Effective Event Management Solutions
- Improved Efficiency in Event Planning
Restraints:
- Risks Related to Cybersecurity
- Potential Threats to Sensitive Event Data
- Lack the Flexibility needed to meet Diverse and Specific Event Requirements
Prominent Players in Event Management Software Market
The following are the Top Event Management Software Companies
- Companies are Cvent (US)
- Stova (US)
- Eventbrite (US)
- Zoom (US)
- RingCentral (US)
- Zoho Corporation (India)
- Momentus Technologies (US)
- Active Network (US)
- RainFocus (US)
- 6Connex (US)
- Hubilo (US)
- Circa (US)
- Whova (US)
- loom (Belgium)
- Hubb (US)
- Grenadine Technologies (Canada)
Key Questions Answered in Global Event Management Software Market Report
- What is the estimated market size for event management software globally by 2031, and what is the anticipated compound annual growth rate?
- Why does the market for event management software primarily belong to large enterprises?
- In the global event management software market, which software component is the fastest growing subsegment, and why?
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This report provides the following insights:
- Analysis of key drivers (Personalized event experiences to meet specific client needs, tools for budget tracking, expense management and financial planning support efficient event management), restraints (Software may lack the flexibility, technical failures can disrupt event planning & execution and lack of infrastructure & technology support) opportunities (Incorporating AI for enhanced event management, increasing use of mobile devices & apps and opportunities for partnerships with other technology providers), and challenges (Changing existing processes and handling & analysing large volumes of data generated) influencing the growth of event management software market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the event management software market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the event management software market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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