Event Management Software Market to Reach USD 16.11 Billion by 2026; Rising Utilization of Cloud Technology to Propel Growth, says Fortune Business Insights™
Pune, April 09, 2020 (GLOBE NEWSWIRE) — The global event management software (EMS) market is likely to gain impetus from the ever-increasing adoption of cloud technology by reputed companies. This technology aids the end users in storing large amount of files and data and accessing them from any part of the world that is internet-enabled. Fortune Business Insights™ provided this information in a recent report, titled, “Event Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By End-User (Government, Corporate, Event Planners, Education, and Others), and Regional Forecast, 2019-2026” The report further mentions that the EMS market size stood at USD 6.63 billion in 2018 and is projected to reach USD 16.11 billion by 2026, thereby exhibiting a CAGR of 11.8% during the forecast period.This Report Answers the Following Questions:How many opportunities and challenges would the market come across in the coming years?Which important strategies are being adopted by companies to gain competitive edge?What are the EMS market trends, barriers, and growth drivers?Which organizations would dominate in terms of revenue?Which region is likely to lead the market by procuring the highest share?Increasing Adoption of Social Media Platforms to Spur GrowthIn today’s technology-driven world, social media platforms are used by almost every person across the globe. These platforms are free of cost and robust. Hence, they aid event planners in achieving their business goals. Social media marketing and advertising enables them to gain a large consumer base by tracking their website traffic. These platforms also help in remoulding the reputation of a particular company.The usage of platforms, namely, Instagram Facebook, LinkedIn, and Twitter is upsurging day by day amongst the event planners. Besides, tools such as Mention, Oktopost, and Hootsuite are aiding them in analysing the type of content, as well as the most successful channels that would appeal to the users. These factors are likely to augment the event management software market growth during the forthcoming years. However, integration of EMS solutions requires high technical expertise. Lack of the latter may obstruct market growth.Segment-Corporate Segment to Remain at Forefront Fueled by Increasing Occurrence of EventsBased on end user, the market is grouped into education, event planners, corporate, government, and others. Amongst these, the corporate segment is anticipated to dominate by holding the largest EMS market share in the coming years. This growth is attributable to the increasing number of events, such as meetings, trade conferences, summits, and seminars occurring in the corporate sector. Hence, event planners are investing huge sums in organizing such grand events in this sector. The government segment generated a share of 12.6% in 2018.Persistent Development of Cloud Platforms to Favor Growth in Asia PacificGeographically, the Event Management Software market is fragmented into Asia Pacific, the Middle East and Africa, Latin America, Europe, and North America. Out of these, North America held USD 2.32 billion EMS market revenue in 2018. The region is likely to experience considerable growth throughout the forecast period backed by the presence of financially stable countries such as Canada and the U.S. in this region. These countries are investing persistently in the development of advanced technologies to get efficient and reliable services. Software solutions with unique features provide better data analytics, integration and collaboration tools, and smooth management of events.Europe and Asia Pacific, on the other hand, are expected to showcase significant growth owing to the ongoing development of the cloud platforms, as well as rising number of smartphone users. Also, the ever-increasing number of events consisting of product launches, stand-up comedy shows, tradeshows, and musical concerts in both regions would contribute to market growth in the near future.Competitive Landscape-Key Players Engage in Strategic Collaborations to Broaden Geographical PresenceEnterprises present in the market are working constantly to strengthen their market position by adopting the strategy of collaborations and partnerships. Some of the other domestic and regional companies are introducing new software solutions to fulfil the increasing demand of the masses. Below are two of the latest industry developments:June 2018: Eventbrite, an event management and ticketing website headquartered in the U.S., joined hands with Elrow Family, an event concept and party series based in Barcelona. This collaboration would enable the former in managing the ticketing of over 100 shows and of more than 2.4 million attendees a year for Elrow. It includes shows in Ibiza, Madrid, and Dubai.November 2017: etouches, a cloud-based event management software company based in Connecticut, secured a partnership with the United Networks of International Corporate Event Organizers (UNICO). It would help the former in broadening its consumer base.List of Key Companies Operating in the Event Management Software Market. They are as follows:EventMobiActive Network, LLCZeristaAventri, Inc.ArloGrenadine Technologies Inc.EventGeekCertain Inc.RegpacksEMS Software, LLC.Event EspressoUngerboeckBizzaboOther key market playersIntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersGlobal Event Management Software Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Size Estimates and ForecastsBy Component (Value)SoftwareServicesProfessional ServicesManaged ServicesBy Deployment (Value)CloudOn-PremisesBy Organization Size (Value)SMEsLarge EnterprisesBy End-User (Value)GovernmentCorporateEvent PlannersEducationOthersBy Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaContinued..!!!
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