August 02, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD
LONDON, Aug. 02, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the event management software market, the increasing preference for hosting virtual events is significantly contributing to the growth of the event management software market. Virtual events are completely hosted and run online with the potential for attendees to view or participate from anywhere in the world with an agenda of single or multiple-track presentation sessions or collaborative sessions. These sessions are streamed online through virtual conferences, webinars, internal hybrid events, and external hybrid events. For instance, according to The State of Virtual Events 2021, Zoom had the most respondents, accounting for 50.3%, followed by Microsoft Teams with 12% usage and Facebook Live with 9.4%. This rise in the usage of virtual platforms for hosting events is contributing to the growth of the event management software market.
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The global event management software market share is expected to grow from $5.78 billion in 2021 to $6.56 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The event management software market is expected to grow to $11.75 billion in 2026 at a CAGR of 15.7%.
The rapid integration of artificial intelligence (AI) technology is shaping the event management software market. Artificial intelligence is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment. It is mostly used in event management due to its ease and affordability. For instance, in 2020, EventTow, an India-based company, launched an android application and website for wedding planning and event management that is based on AI. The application is fully AI-based with all the necessary options required for event planning, with the goal of changing the way people book and plan events.
Major players in the event management software market are Active Network, Arlo, Attendify, Aventri, Bizzabo, Certain Inc., Cvent Inc., EMS Software LLC, Eventbrite, EventMobi, Gather Technologies, RainFocus, SignUpGenius, Eventzilla, Bitrix24, Tripleseat, Circa, Accelevents, Glue-Up, Event Espresso, Hubb LLC, Hubilo Inc., and RegPack Inc.
The global event management software industry analysis is segmented by component into software, services; by deployment type into on-premise, cloud; by organization size into small, medium, large; by end-user into corporate, government, third-party planners, education, others.
North America was the largest region in the event management software market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the event management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Event Management Software Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide event management software market overviews, event management software market analyze and forecast market size and growth for the whole market, event management software market segments and geographies, event management software market trends, event management software market drivers, event management software market restraints, event management software market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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