Event Management Software Market Inflates as Number of Virtual Events Soars, and Cloud-based Deployments Surge

November 2022

Gamification of events has gained exceptional popularity as it remarkably enriches the event experience. With the power of gamification, event organizers can create a relaxed ambience for event attendees, while ensuring effective communication, engagement, and management. This has accelerated the adoption of gamification as a prime tool in event management software, creating sound prospects for business growth. This factor, coupled with the rising popularity of online events and preference for cloud-based solutions and services, is poised to yield fruitful outcomes in the event management software market.

According to a recent study by Fairfield Market Research, in 2019, the global event management software market was valued at US$5.6 Bn and is predicted to be worth US$18.4 Bn by the end of 2029. During the forecast years 2022 and 2029, the market is set to observe a CAGR of 12.9%. Event management software helps users to draw actionable insights and real-time data, empowering businesses to improve audience experience in future events. Further, behavioral analysis of event attendees also enables decision-makers to curate better event experiences. In the near future, these factors are expected to play a vital role in expanding the market. 

Key Insights & Trends Across Event Management Software Market

  • On the basis of application, the event organizers and planners category will attract greater demand over the forecast period 2022 to 2029

  • Cloud-based deployment is becoming the most preferred option by users amid the rising popularity of virtual meetings, and conferences

  • Registering a value CAGR of 12.5% by 2029 end, North America is expected to sustain its market dominance. This region observed a market share of US$ 2,343.0 Mn in 2022

Cloud-based Deployment Currently Preferred, On-premises to Draw Notable Demand

Cloud-enabled event management software is poised to register a phenomenal demand in the coming years. This is due to the rising popularity of virtual meetings, conferences, and events across leading organizations and academic institutions. Educators are exhibiting a strong preference for cloud-based deployment as it helps to reach out to wider audiences and students. The cloud-based deployment also enables users to save IT costs, which is set to positively influence its demand over the study period. Notably, on-premises deployment offers better data security and customization options. As a result, the demand for on-premises solutions and services is predicted to gain momentum, particularly amid growing concerns over privacy, identity theft, and data security. Overall, these factors are projected to unleash promising business opportunities across the event management software market.

Being a Key Location for International Events, North America Leads Global Market

North America will continue its lead in the global event management software market owing to a strong presence of main market players. Moreover, the region hosts a wide variety of events and the increasing need to efficiently manage them is the foremost factor in expanding the market. Meanwhile, the Asia Pacific is rising as a significant market contender due to the growing preference for tech-powered solutions for event management. Asia Pacific is also witnessing an uptick in the establishment of event management startups which is set to contribute toward strengthening the market.

Major Market Players

Prominent vendors in the event management software market include EventBooking, Eventbrite, Cvent, Airmeet, Certain, Bizzabo, Aventri, Hopin, Ungerboeck, and ACTIVE Network.