LONDON, Aug. 2, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the event management software market, the increasing preference for hosting virtual events is significantly contributing to the growth of the event management software market. Virtual events are fully hosted and conducted online with the ability for attendees to watch or participate from anywhere in the world with a calendar of single-track, multi-track presentation sessions or collaborative sessions. These sessions are streamed online through virtual conferences, webinars, internal hybrid events, and external hybrid events. For example, according to The State of Virtual Events 2021, Zoom had the most respondents, accounting for 50.3%, followed by Microsoft Teams with 12% usage and Facebook Live with 9.4%. This increase in the use of virtual platforms for event hosting is contributing to the growth of the event management software market.
Application for a sample of the global event management software market report
The global event management software market share is expected to grow from: $5.78 billion in 2021 to $6.56 billion in 2022 with a compound annual growth (CAGR) of 13.4%. The event management software market is expected to grow to: $11.75 billion by 2026 at a CAGR of 15.7%.
The rapid integration of artificial intelligence (AI) technology is shaping the event management software market. Artificial intelligence is the ability of a computer or robot controlled by a computer to perform tasks usually done by humans as they require human intelligence and discernment. It is mostly used in event management because of its convenience and affordability. For example, in 2020, EventTow, an India-based company, launched an AI-powered wedding planning and event management Android application and website. The application is fully AI-based with all the necessary options needed for event planning, aiming to change the way people book and plan events.
Major players in the event management software market include Active Network, Arlo, Attendify, Aventri, Bizzabo, Certain Inc., Cvent Inc., EMS Software LLC, Eventbrite, EventMobi, Gather Technologies, RainFocus, SignUpGenius, Eventzilla, Bitrix24, Tripleseat, Circa , Accelevents, Glue-Up, Event Espresso, Hubb LLC, Hubilo Inc. and RegPack Inc.
The global event management software industry analysis is segmented by component into software, services; per deployment type to on-premise, cloud; by organization size in small, medium, large; by end users in business, government, external planners, education, others.
North America was the largest region in the event management software market in 2021. Asia-Pacific is expected to fastest growing region in the forecast period. The regions covered in the Event Management Software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Event Management Software Global Market Report 2022 – Market Size, Trends and Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides event management software market overviews, event management software market analysis, and market-wide forecast of market size and growth forecast, software for Event Management, Market Segments and Regions, Event Management Software Market Trends, Event Management Software Market Drivers, Event Management Software Market Limitations, Event Management Software Market-leading earnings, profiles, and market shares of competitors in over 1,000 industry reports, covering more than 2,500 market segments and 60 regions covers.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 data sets, extensive secondary research and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provides market analysis and forecasting. The reports identify top countries and segments for opportunities and strategies based on market trends and the approaches of leading competitors.
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