The Global Event Management Software Market accounted for US$ 5810.6 Mn in 2018 and is expected to grow at a CAGR of 16.02% over the forecast period 2019–2027, to account for US$ 21287.6 Mn by 2027. An event management software is of top priority for any modern-day event planner and brings together everything that the user needs to have an excellent event process administration, accounts receivable, HR, floor plan organization, outreach, and many other aspects of planning. Without the consolidation of these tasks, the user can't outsource and delegate things haphazardly, confusing within the office, and a slower process overall.
The adoption of event management is driven by the successful uses cases of AI, which resulted in increased operational efficiency, better sales revenue, and improved customer experiences. The nature of business is becoming very competitive, and to compete efficiently, enterprises nowadays relying on useful information and business analytics. Traditionally, business analytical tools were used to project sales from the data about events that were a week or month old. With the advent of artificial intelligence technology, which learns in real-time and provides recommendations based on patterns, businesses have a tremendous opportunity to apply AI in various processes to better understand the business environment and customers.
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The increasing number of event management applications in mobile phones is expected to drive the event management software market as it offers easy to manage features and to analyze tool for estimating ROI generated from the event for the industry. Growing internet services on mobile platform drive the increasing number of smartphone users worldwide. Technological innovation, a decrease in smartphone price, high accessibility, and high involvement of social media in users' routine life is driving the demand for the event management software market.
Moreover, it also helps organizations to capture and analyze attendees’ behavior, which helps them make effective business decisions. Some of the key players influencing the market are Active Network, Bizzabo, Ungerboeck Software International, Aventri, Cvent, Arlo, Attendify, Pty Ltd., Dean Evans and Associates, Inc., Zerista, Inc, Eventbrite, LLC, and Xing Events among others. The market players are following various organic and inorganic marketing strategies for gaining a competitive edge, such as, in November 2019, Cvent partnered with Opus Agency for developing the industry’s most comprehensive event technology paired with implementation and design services.
Some of the key players operating in the global event management software market include Active Network, Arlo Technologies, KitApps, Inc. /Attendify, Aventri, Inc., Bizzabo Inc., Cvent Inc., Dean Evans and Associates, Inc., Eventbrite, LLC, Grenadine Technologies Inc., and Zerista, Inc. among others. Several other players are also operating in the field, and are contributing substantial revenue generation in the market.
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