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Event Management Platform Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Event Management Platform Market
According to The Business Research Company's, The event management platform market size has grown rapidly in recent years. It will grow from $35.87 billion in 2023 to $40.34 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to rise of event sponsorship and monetization, shift towards digitalization, integration with CRM (customer relationship management) and marketing platforms.
The event management platform market size is expected to see rapid growth in the next few years. It will grow to $63.87 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to increased emphasis on analytics, demand for automation and efficiency, hybrid and virtual event boom. Major trends in the forecast period include hybrid event solutions, AI and automation, integration with virtual event platforms, blockchain for security and transparency, immersive technologies.
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Market Drivers and Trends:
The accelerated adoption of virtual events is expected to propel the growth of the event management platform market going forward. Virtual events refer to gatherings or conferences that take place entirely online, without the need for physical attendance. These events leverage digital technologies to create immersive and interactive experiences for attendees, speakers, exhibitors, and sponsors. Event management platforms are used as essential tools for orchestrating successful virtual events by providing comprehensive functionality, customization options, and support services, and they help to streamline the planning process, enhance attendee engagement, and deliver valuable insights for organizers. For instance, in 2022, according to a survey of 1250+ organizers and attendees conducted by Kaltura, a US-based software company, 92% of organizers have switched to virtual events for 2021, 94% are preparing for virtual events for 2022, and 48% are planning to increase the number of virtual events they host next year. Therefore, the accelerated adoption of virtual events is driving the growth of the event management platform market.
Major companies operating in the event management platform market are focusing on the development of innovative platforms, such as Cvent Events+, to stay competitive and meet the evolving needs of the market. Events+ is a comprehensive event management platform to promote events and help attendees discover upcoming events and webinars. For instance, in July 2023, Cvent Holding Corp., a US-based technology company, launched Cvent Events+, a comprehensive event marketing and management platform that offers various features to help event organizers promote events, share video content, and enhance attendee engagement. It is designed to enhance engagement with event audiences year-round by leveraging the power of video content. Additionally, it includes features such as event calendaring, event registration links, video channels, seamless integration, marketing and communication tools, mobile check-in, and comprehensive event management software. These features provide a comprehensive solution for event organizers to plan, promote, and execute successful events while enhancing attendee engagement and satisfaction.
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Major Key Players of the Market:
Cvent Holding Corp, Eventbrite, Active Network LLC, Swapcard, Bizzabo, Airmeet Inc., Whova Inc., Splash Inc., Pathable Inc., Hubb Inc., BigMarker, Aventri Inc., Goldcast, WebEx Events LLC, PheedLoop Inc., Zuddl, Hopin, Eventzilla, Attendify, Social Tables, Gather, EventMobi GmbH, Hey Summit Ltd., vFairs, Accelevents Inc., Intrado, Eventdex LLC, Boomset, EventGeek Inc.
Event Management Platform Market 2024 Key Insights:
• The Event Management Platform Market is expected to grow to $63.87 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Virtual Events Driving Growth In The Event Management Platform Market
• Cvent Events+ Revolutionizing Event Management With Comprehensive Features And Enhanced Engagement
• North America was the largest region in the event management platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the event management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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