A recent market study published by Future Market Insights on the event management software market includes a global End-user analysis for 2016-2020 and prospect examination for 2022-2032 and delivers a comprehensive assessment of the most important market dynamics.
After conducting thorough research on the historical as well as current development parameters, the development prospects of the market are obtained with maximum precision.
Future Market Insights (FMI) has stated that the global event management software market is expected to rise steadily at a CAGR of 14.1% during the forecast period of 2022 to 2032. Event data is indispensable for event organizers since it helps them monitor social media engagement and attendance to measure the overall success of any event.
COVID-19 Paved Way for Growth
The health concerns are increasing around the world and causing significant business impact due to the ongoing COVID-19 pandemic – particularly when it comes to delivering events. Since the onset of the epidemic, most events were either cancelled or postponed. Major conferences such as Mobile World Congress and the HIMSS Global Healthcare Conference & Exhibition are even getting cancelled due to the pandemic situation.
Key Market Trends Identified
Online event management software is enabling automation among the event management companies to simplify the event functionalities. An increasing focus on gaining actionable insights from the events is anticipated to drive market growth for the tools.
Manufacturers in the management software industry are deploying advanced analytics, which is a broad framework of analytical technologies and methodologies designed to assist in discovering trends and patterns, solving problems, accurately forecasting the future, and driving change through the use of data-driven and fact-based information.
Gamification is being used by the organizers to increase attendee engagement. Gamification allows organizers to enhance the experience of the attendees and achieve goals while also creating a fun-filled memorable experience for all attendees.
Key Takeaways of Event Management Software Market Study
- The cloud based deployment to grow 4.0x of the current market value by the end of 2031
- Increasing penetration of IoT and real-time analytics will drive growth in U.S., enabling it to account for a little below 65% of North America market in 2021
- Double-digit y-o-y growth at over 10% will seal U.K.’s position as a lucrative market within Europe
- Increasing number of events organized in Germany and France, will drive Europe event management software market
- Within East Asia, Japan and South Korea are expected to emerge as strong markets, exhibiting double-digit growth
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