Pune, April 09, 2020 (GLOBE NEWSWIRE) — The global event management software (EMS) market is likely to gain impetus from the ever-increasing adoption of cloud technology by reputed companies. This technology aids the end users in storing large amount of files and data and accessing them from any part of the world that is internet-enabled. Fortune Business Insights™ provided this information in a recent report, titled, “Event Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By End-User (Government, Corporate, Event Planners, Education, and Others), and Regional Forecast, 2019-2026” The report further mentions that the EMS market size stood at USD 6.63 billion in 2018 and is projected to reach USD 16.11 billion by 2026, thereby exhibiting a CAGR of 11.8% during the forecast period.
This Report Answers the Following Questions:
- How many opportunities and challenges would the market come across in the coming years?
- Which important strategies are being adopted by companies to gain competitive edge?
- What are the EMS market trends, barriers, and growth drivers?
- Which organizations would dominate in terms of revenue?
- Which region is likely to lead the market by procuring the highest share?
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
Drivers & Restraints-
Increasing Adoption of Social Media Platforms to Spur Growth
In today’s technology-driven world, social media platforms are used by almost every person across the globe. These platforms are free of cost and robust. Hence, they aid event planners in achieving their business goals. Social media marketing and advertising enables them to gain a large consumer base by tracking their website traffic. These platforms also help in remoulding the reputation of a particular company.
The usage of platforms, namely, Instagram Facebook, LinkedIn, and Twitter is upsurging day by day amongst the event planners. Besides, tools such as Mention, Oktopost, and Hootsuite are aiding them in analysing the type of content, as well as the most successful channels that would appeal to the users. These factors are likely to augment the event management software market growth during the forthcoming years. However, integration of EMS solutions requires high technical expertise. Lack of the latter may obstruct market growth.
Corporate Segment to Remain at Forefront Fueled by Increasing Occurrence of Events
Based on end user, the market is grouped into education, event planners, corporate, government, and others. Amongst these, the corporate segment is anticipated to dominate by holding the largest EMS market share in the coming years. This growth is attributable to the increasing number of events, such as meetings, trade conferences, summits, and seminars occurring in the corporate sector. Hence, event planners are investing huge sums in organizing such grand events in this sector. The government segment generated a share of 12.6% in 2018.
Persistent Development of Cloud Platforms to Favor Growth in Asia Pacific
Geographically, the Event Management Software market is fragmented into Asia Pacific, the Middle East and Africa, Latin America, Europe, and North America. Out of these, North America held USD 2.32 billion EMS market revenue in 2018. The region is likely to experience considerable growth throughout the forecast period backed by the presence of financially stable countries such as Canada and the U.S. in this region. These countries are investing persistently in the development of advanced technologies to get efficient and reliable services. Software solutions with unique features provide better data analytics, integration and collaboration tools, and smooth management of events.
Europe and Asia Pacific, on the other hand, are expected to showcase significant growth owing to the ongoing development of the cloud platforms, as well as rising number of smartphone users. Also, the ever-increasing number of events consisting of product launches, stand-up comedy shows, tradeshows, and musical concerts in both regions would contribute to market growth in the near future.
Key Players Engage in Strategic Collaborations to Broaden Geographical Presence
Enterprises present in the market are working constantly to strengthen their market position by adopting the strategy of collaborations and partnerships. Some of the other domestic and regional companies are introducing new software solutions to fulfil the increasing demand of the masses. Below are two of the latest industry developments:
- June 2018: Eventbrite, an event management and ticketing website headquartered in the U.S., joined hands with Elrow Family, an event concept and party series based in Barcelona. This collaboration would enable the former in managing the ticketing of over 100 shows and of more than 2.4 million attendees a year for Elrow. It includes shows in Ibiza, Madrid, and Dubai.
- November 2017: etouches, a cloud-based event management software company based in Connecticut, secured a partnership with the United Networks of International Corporate Event Organizers (UNICO). It would help the former in broadening its consumer base.
List of Key Companies Operating in the Event Management Software Market. They are as follows:
- Active Network, LLC
- Aventri, Inc.
- Grenadine Technologies Inc.
- Certain Inc.
- EMS Software, LLC.
- Event Espresso
- Other key market players
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Detailed Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Event Management Software Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Professional Services
- Managed Services
- By Deployment (Value)
- By Organization Size (Value)
- By End-User (Value)
- Event Planners
- By Region (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
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