The Latest Event Management Software Industry Statistics Explained
The global event management software market size was valued at USD 7.58 billion in 2019.
The statistic indicates that the total market size for event management software globally was valued at USD 7.58 billion in the year 2019. This value represents the combined revenue generated by companies that provide event management software solutions to businesses or organizations around the world. The figure reflects the significant demand for such software to streamline and enhance the planning, organization, and execution of events across various industries. It suggests a strong market presence and growth potential for event management software developers and vendors, driven by the increasing adoption of technology in the events industry and the need for efficient and innovative solutions to manage events effectively.
The market is expected to evolve at a CAGR of 15.65% from 2021 to 2028.
This statistic indicates that the market is projected to experience growth at a Compound Annual Growth Rate (CAGR) of 15.65% from 2021 to 2028. The CAGR provides a smoothed annual growth rate over a specific time period, in this case, seven years. A CAGR of 15.65% suggests a substantial and sustained increase in the market size and value over the forecasted period. This growth trajectory could be driven by various factors such as increasing demand, technological advancements, expanding market reach, and other market dynamics. It provides investors, businesses, and other stakeholders with valuable insight into the potential growth opportunities and trends within the market for strategic decision-making and planning.
About 85% of event planners claim event management software enhances team efficiency.
The statistic “About 85% of event planners claim event management software enhances team efficiency” suggests that a large majority of event planners believe that using event management software can improve the efficiency of their teams. This statistic implies that event planning professionals see value in utilizing technology to streamline their processes and tasks, ultimately leading to more effective teamwork and better performance in organizing and managing events. The high percentage of event planners endorsing the benefits of event management software highlights the potential impact of technology in optimizing team productivity and coordination within the event planning industry.
Event management software can help increase attendee engagement by 20%.
The statistic “Event management software can help increase attendee engagement by 20%” suggests that utilizing event management software can lead to a notable improvement in attendee engagement levels at events. This means that by incorporating such software, event organizers can enhance the overall experience for participants and encourage greater interaction, participation, and overall engagement. This increase of 20% implies that the software’s features and capabilities play a significant role in enhancing the attendees’ interest, involvement, and overall satisfaction with the event, ultimately resulting in a more successful and impactful experience for all involved.
78% of event managers believe automation is vital to their progress.
The statistic “78% of event managers believe automation is vital to their progress” indicates that a significant majority of event managers place a high priority on incorporating automation into their work processes in order to advance and succeed in their roles. This suggests that event managers recognize the potential benefits of automation, such as streamlining workflows, increasing efficiency, and improving overall productivity. The high percentage of belief in the importance of automation among event managers implies that this technology is seen as a crucial tool for driving progress and innovation within the event management industry.
North America holds the largest share in the event management software market and is projected to hold its dominance during the forecast period.
The statistic indicates that North America currently has the highest market share in the event management software industry and is expected to maintain its dominant position in the foreseeable future. This suggests that the region is a key player in the event management software market, likely due to factors such as a high demand for technology solutions in event planning, a strong presence of event management companies, and a technologically savvy population. Companies operating in North America may have a competitive advantage in this industry, potentially leading to further innovations and developments in event management software within the region.
Reportedly, 91% of event marketers discovered a positive ROI from event management tools.
The statistic presents that 91% of event marketers have reported a positive return on investment (ROI) from utilizing event management tools. This indicates that a significant majority of event marketers have found value in using such tools for managing their events. A positive ROI implies that the benefits gained from using event management tools, such as increased efficiency, cost savings, improved organization, and potentially higher attendance or engagement rates, outweigh the initial investment made in acquiring and implementing these tools. This statistic suggests that event management tools are effective in helping event marketers achieve their goals and objectives, highlighting the importance and efficiency of leveraging technology in the planning and execution of successful events.
58% of the event industry professionals already use event software in their work.
The statistic indicates that 58% of event industry professionals are already utilizing event software in their work practices. This suggests a significant adoption rate of technology within the industry, signaling a shift towards leveraging digital tools to streamline event management processes, enhance efficiency, and improve overall effectiveness. The high percentage of professionals using event software also implies a growing recognition of the importance of technology in modern event planning, as well as a desire to stay competitive and meet the evolving needs of clients and attendees.
51% of events professionals who don’t use event software plan to start using it in the next year.
The statistic indicates that 51% of events professionals who are currently not utilizing event software intend to begin using it within the next year. This suggests a growing trend towards adoption of event software within the events industry, potentially driven by factors such as the increasing importance of technology in event planning, the desire for more efficient and streamlined processes, or the need to adapt to changing industry standards. The statistic highlights a significant opportunity for event software providers to target this segment of professionals looking to enhance their event planning capabilities and stay competitive in the evolving events landscape.
In 2017, corporate enterprises were the biggest users of the tool, constituting over 46% of the Event Management Software Market share.
The statistic indicates that in 2017, the majority of users of Event Management Software belonged to corporate enterprises, encompassing a significant portion of over 46% of the market share. This suggests that corporate enterprises heavily relied on Event Management Software to plan and organize their events during that period. The high usage among corporate enterprises highlights the importance of event planning and management for businesses in various industries, showcasing the value and impact of utilizing such tools for efficiency and success in event execution.
The Asia-Pacific market is expected to expand at the highest CAGR of 16.4% during 2019-2026.
This statistic indicates that the Asia-Pacific market is projected to experience the highest Compound Annual Growth Rate (CAGR) of 16.4% between the years 2019 and 2026. This suggests that the region’s economy is expected to show substantial growth and outpace other markets during this period. A high CAGR indicates a rapid rate of expansion in market size, demonstrating a favorable environment for businesses looking to enter or expand operations in the Asia-Pacific region. Factors driving this growth may include increasing consumer demand, technological advancements, favorable government policies, and strong market competition. Overall, this statistic highlights the region’s potential for lucrative business opportunities and investment prospects in the coming years.
59% of event marketers believe that tools allowing them to measure and analyze their attendee experience are the most effective in meeting business outcomes.
This statistic indicates that a majority, specifically 59%, of event marketers view tools that enable them to measure and analyze attendee experience as crucial for achieving their business goals. This finding suggests that event marketers place a high value on understanding the impact their events have on attendees and the overall success of their events. By utilizing such tools, event marketers can gather valuable insights that can inform decision-making, improve future event planning, and ultimately contribute to achieving desired business outcomes. This emphasizes the importance of leveraging data and analytics in the event industry to enhance performance and ROI.
Around 86% of event marketers believe technology can have a major positive impact on the success of their events.
The statistic indicating that around 86% of event marketers believe technology can have a major positive impact on the success of their events suggests a strong consensus within the industry regarding the importance and potential benefits of leveraging technological tools and innovations in event planning and execution. This high percentage highlights the widespread recognition among professionals in the field that incorporating technology can enhance various aspects of event management, such as attendee engagement, data analytics, marketing strategies, and overall event experience. The statistic underscores the growing emphasis on utilizing technology as a strategic asset to optimize event outcomes, improve efficiency, and stay competitive in a rapidly evolving landscape where digital solutions play an increasingly integral role in the success of events.
22% of organizations plan on devoting more budget to event tech over the next year.
The statistic ‘22% of organizations plan on devoting more budget to event tech over the next year’ indicates that a significant portion of organizations are intending to allocate a larger portion of their budget towards event technology in the upcoming year. This suggests a growing interest and investment in leveraging technology to enhance event experiences, streamline processes, and achieve organizational objectives. The decision to allocate more budget towards event tech may reflect a recognition of the potential benefits and competitive advantages that technology can offer in the realm of event planning and execution, highlighting a trend towards greater utilization of technological solutions in the events industry.
The enterprise segment of the event management software market was worth $2,407.5 million in 2019.
The statistic indicates that the enterprise segment within the event management software market generated a total revenue of $2,407.5 million in the year 2019. This suggests that businesses or organizations operating in the event management software sector catering specifically to enterprises, such as large corporations or multinational companies, accrued this significant revenue amount. The figure highlights the substantial size and financial value of the enterprise segment within the event management software market, underlining its importance and attractiveness for software providers and investors in the industry.
In 2020, the virtual event platform segment generated more than USD 4 billion in revenue.
The statistic indicates that the virtual event platform segment generated over USD 4 billion in revenue in the year 2020. This suggests a significant financial impact for companies operating in this industry, highlighting the growing popularity and adoption of virtual events during that time period. The revenue generated reflects the increasing demand for virtual event services due to the global pandemic and the shift towards remote work and online gatherings. The substantial revenue figure also underscores the opportunities and potential growth prospects within the virtual event platform market, as businesses and organizations continue to adapt to virtual event solutions for meetings, conferences, trade shows, and other gatherings.
The mobile application market segment is projected to maintain a high growth rate, a CAGR of 16.2%, from 2019 to 2026.
This statistic indicates that the mobile application market is expected to exhibit strong growth over the period from 2019 to 2026, with a compound annual growth rate (CAGR) of 16.2%. A CAGR of 16.2% implies that the market is anticipated to expand steadily at an average rate of 16.2% each year during this period. This projection suggests a significant increase in demand and adoption of mobile applications, driven by factors such as technological advancements, increasing smartphone penetration, evolving consumer preferences, and growing global connectivity. Businesses operating in the mobile app industry can leverage this projected growth rate to strategically position themselves and capitalize on emerging opportunities within the market segment.
Conclusion
Despite facing challenges such as market saturation and increased competition, the event management software industry continues to show strong growth fueled by technological advancements and the increasing demand for streamlined event planning processes. With a positive outlook for the future, industry players should focus on innovation and delivering exceptional value to meet the evolving needs of event organizers and attendees.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.goodfirms.co
2. – https://www.www.marketresearchfuture.com
3. – https://www.eventtechbrief.com
4. – https://www.www.researchdive.com
5. – https://www.www.techjockey.com
6. – https://www.www.databridgemarketresearch.com
7. – https://www.blog.capterra.com
8. – https://www.www.eventmanagerblog.com
9. – https://www.www.bizzabo.com
10. – https://www.www.eventbrite.com
11. – https://www.www.prnewswire.com
12. – https://www.www.globenewswire.com
13. – https://www.www.fortunebusinessinsights.com
14. – https://www.www.grandviewresearch.com
15. – https://www.www.cvent.com
16. – https://www.www.cfodive.com
