Software Segment is Expected to Dominate the Global Event Management Software Market
The
data gathered can assist event organizers in making informed choices, enhancing
future events, and customizing the overall experience to the needs of
participants. These factors are driving the market growth.
According
to TechSci Research report, “Global Event Management Software Market - By
Country, Competition, Forecast & Opportunities, 2028”. The Global Event Management Software Market is
anticipated to project robust growth in the forecast period with a CAGR of 12.32%
through 2028. They play an important role in planning events that cater to
varied audiences and ensure cross-border activities run effectively. Event
planners and organizers are using gamification as a tool to engage attendees.
Gamification of events allows organizers to enhance the experience for
attendees. Gamification works on tailoring the benefits to attendees'
sentiments to boost their confidence, create a relaxed atmosphere, generate a
feeling of common purpose, and ensure easy & effective communication. Event
organizers typically use innovative gamification methods, such as Question and
Answer (Q&A) engagement, social media engagement, teamwork games, social
programs, and networking games. Artificial Intelligence (AI) and Machine
Learning (ML) are revolutionizing many elements of event management. AI-powered
chatbots and digital assistants can answer guest inquiries, offer event
details, and provide customized suggestions. Automation technologies can help
companies reduce time by automating email marketing, social media time
management, and statistical entry tasks. Interactive event engagements are
gradually being created using AR and VR technologies. AR can provide fun and
interactive elements by adding digital content to the physical event venue.
Attendees can utilize VR to discover virtual settings while participating in
virtual presentations, outings, or games. These technologies provide events
with a new dimension by allowing visitors to examine items, venues, or ideas in
a more collaborative and realistic method. The initial costs of using event
management software usually include licensing expenses, customization, and
coaching. These costs can be expensive for small firms with limited resources.
Furthermore, ongoing upkeep and subscription charges may put an additional
burden on the budget, particularly for ongoing activities or firms with an
increased activity frequency. To facilitate online registration and ticket
sales, event management software frequently interacts with payment gateways.
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The
on-premises segment is expected to grow high CAGR, over the forecast period.
Organizations gain full control over their event data using on-premises
software as it is stored within their private infrastructure. Since the data
does not reside in an outside cloud environment, it has better personal information
security and compliance control. Organizations with on-premises software have
greater flexibility over modification and possibilities for configuration. They
can customize the platform to match its unique event management requirements,
procedures, and integration needs with other internal applications.
The
SMEs segment is expected to grow at a CAGR of 13.0% over the forecast period.
The segment's expansion can be attributed to the increasing number of SMEs in
countries, such as India, the U.S., and China. During events, SMEs often aim to
portray an expert image and provide a pleasant brand experience. Event
management software provides forms for registration, email designs,
configurable event sites, and branding options to assist small businesses in
presenting a professional and logical image to customers. This professional
image boosts their credibility and can positively affect client perception.
Key
market players in the Global Event Management Software Market include:
- Active
Network LLC
- Arlo
- Stova
- Bitrix24
- Eventdex.com
- Hopin
- webMOBI
- Whova
- Certain,
Inc.
- Cvent,
Inc.
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“Asia
Pacific is anticipated to register the fastest CAGR from 2023 to 2030. The
region’s enormous population, developing economy, and rising technological
adoption contribute to the market's expansion. The market is expanding as
regional firms discover the advantageous features of event management software.
The region's thriving tourism industry and an increase in corporate events
drive the demand for event management software services that help accelerate
event planning, execution, and guest management. The Asia Pacific market is
diversified across cultural backgrounds, languages, and business methods. Event
management software suppliers in the region focus on localization to meet the
needs of different APAC countries.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
Event Management Software Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast Segmented By Component
(Software, Services), By Deployment (On-premises, Cloud), By Application
(Corporate, Education), By Region, Competition 2018-2028 has evaluated the future growth
potential of Global Event Management Software Market and provides statistics
and information on market structure, size, share, and future growth. The report
is intended to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Global Event Management Software Market.
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