Global Event Management Software Market is Growing Beyond Experts Expectation
Increasing demand for data-driven business outcomes is a major factor driving growth of the global event management software market
Increasing demand for data-driven business outcomes is a major factor influencing the market growth, as aids in rapid decision making and enhances consumer experience. Analytics play important role in understanding consumer’s preferences, which helps to decide the services to upsell. It also maximizes profit margins for software providers, owing to improved performance in multiple areas of operation and allows to create efficient strategies. Furthermore, increasing demand for online registrations is considered to be positively influencing market growth, as it aids in real-time feedback & reporting, saves cost, and keeps subscribers updated through marketing communication.
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Corporate segment is expected to hold the largest market share over the forecast period
Conferences, seminars, meetings, product inaugurations, press and board meetings, and award ceremonies are commonly conducted by businesses in the corporate sector. Additionally, corporate events are organized to attract customers and channel partners across all types of organizations. The event management software in the corporate industry helps organizations to control and simplify their event tasks. Event management software benefits the corporate industry by reducing manual process, and helps to increase engagement and support targeted activities. This has led to significant increase in the use of event managing software in the corporate sector over the last few years. However, issues related to integration and maintenance of the software in event management systems such as lack of compatibility could hamper adoption of these systems.
Global Event Management Software Market: Regional Insights
On basis of region, global event management software market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to witness highest growth rate in the event management marker over the forecast period. India, China, Japan, and Australia are the major growth engines in the event management software market in Asia Pacific. For instance, data published by Event Management Association of India in 2016-2017, the event industry, which was totalled at 5,631 Crore is expected to cross 10,000 Crore by 2020-21. This is due to increasing number of conferences and meetings conducted in these countries leading to the growth of the market. Additionally, vendors in the region cater to a broad customer base across industries and needs brand marketing activities to reach out to potential customers. Therefore, increasing number of events positively fuels growth of the event management software market.
Global Event Management Software Market: Competitive Background
The major players in the global event management software market are SocialTables, EventZilla, Gather Technologies Inc., Certain, Inc., Zerista, Inc., Ungerboeck Software International, Bizzabo Inc., EventBrite Inc., etouches Inc., Zoho Corporation, Cvent, Inc., and Xing Events
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