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(IT-NEWSWIRE.COM, May 28, 2018 ) According to recent research "Event Management Software Market by Software (Venue Management, Event Registration, Ticketing, Event Planning, Event Marketing, Analytics, and Reporting), Service, Deployment Type, Organization Size, End User, and Region - Global Forecast to 2022", The event management software market size is expected to grow from USD 6.38 Billion in 2017 to USD 11.06 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period.
An increasing number of organized events hosted with enhanced marketing and budget, effective event hosting is a major factor driving the growth of the event management software market. Moreover, the increasing adoption of event planning software and event registration software by Small and Medium-sized Enterprises (SMEs) is expected to drive the event management software market.
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The APAC region is expected to witness the highest growth rate in the event management software market.
APAC is one of the fastest growing regions and has a favorable market for event management software and service vendors. The region has a broad customer base across industries, and thus needs brand marketing activities to reach out to potential customers. India, China, Australia, and Japan are major contributors to the growth of the event management software market in APAC.
The corporate end-user segment is expected to gain a larger market share during the forecast period.
Corporate events are organized to attract customers and channel partners across all small and large companies. The corporate industry conducts various events, such as meetings, conferences, exhibitions, product launches, road shows, buyer–seller meets, press conferences, board meetings, executive retreats, award ceremonies, VIP events, and trade shows. The event management software for the corporates helps organizations to control the chaos and simplify their event tasks with a solution.
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The large enterprises segment is expected to gain a larger market share during the forecast period.
Organizations with more than 1,000 employees are categorized as large enterprises. Such enterprises have a huge corporate network and many revenue streams. Large enterprises have their customers across regions and possess high market shares, technical expertise, and effective business strategies. Large enterprises control several systems at a higher level of complexity. The market size of event management software market is relatively high in case of large enterprises, as compared to SMEs. Software vendors catering to large enterprises are growing, as large enterprises need to maximize their brand promotion and marketing activities to reach out to new customers and enhance the experience of existing customers.
Major vendors in the event management software market include Eventbrite (US), Cvent (US), XING Events (Germany), ACTIVE Network (US), etouches (US), EMS Software (US), Ungerboeck Software International (US), SignUpGenius (US), Certain (US), Social Tables (US), Eventmobi (Canada), Hubb (US), Babylon Software Solution (Macedonia), and Regpack (US).
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