The global event management software market size is expected to reach USD 23.28 Billion by 2030 according to a new study by Polaris Market Research. The report “Event Management Software Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Deployment Mode (Cloud, On-premises); By Organization Size; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industry is expected to be driven by the increased number of platforms for marketing and the enhanced use of social media for sales promotion and planning. According to Pewresearch.org, social media adoption in 2005 was low, with only 5% of American adults using at least one of these systems. By 2011, that figure had increased to half of all Americans, and by 2021, 72% of the population would use some form of social media.
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Also, as per the Our World in data, Facebook, the biggest social networking platform, has around 2.4 Bn users. Other sites, such as YouTube and Whatsapp, have over one billion users. These figures are staggering: the world population is 7.7 billion individuals, with at least 3.5 billion of use the internet. Further, each social media platform serves a distinct purpose, and it is critical to use them correctly. Facebook focuses on engagement and awareness, whereas Twitter focuses on conversations.
Twitter is the most popular platform for specialist networking and sharing industry updates, whereas YouTube is strongly video-focused and caters to a wide range of audiences. Social signals are one of the most important factors in online promotion for their immediate impact on the supreme brand loyalty, higher lead generation rates, and long-term engagement opportunities with the target audience. Thus, the rising number of social media users has increased the demand for marketing through social sites, boosting the demand for this management application.
Based on the organization size, the SMEs segment accounted for the leading share in the industry. The enhanced market competition and brand marketing have prompted SMEs to spend on this management application and services to reach more opportunities and participants and successfully host events for business growth.
Major players such as Rainfocus, Aventri, Bizzabo, Certain, Cvent, Eventbrite, Eventmobi, Hopin, Meeting Evolution, Regpack, Eventzilla, Ungerboeck, Xing Events, Active Network, and Zoho are some key players operating in the global market. In January 2022, Sunstone and Camden Partners invested in MeetingPlay and Aventri as part of their growth equity investment. The merged entity will be one of the largest technology companies in the world, serving customers and clients on a scale.
Polaris Market Research has segmented the event management software market report based on component, deployment mode, organization size, end-use, and region:
Event Management Software, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Event Management Software, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Event Management Software, Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)
Event Management Software, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Event Management Software, Regional Outlook (Revenue - USD Billion, 2018 - 2030)