The Worldwide Event Management Software Industry is Expected to Reach $6.4 Billion by 2026 at a CAGR of 10% from 2020
DUBLIN, March 4, 2021 /PRNewswire/ -- The "Event Management Software Market by Component (Software (Event Registration and Ticketing, Content Management) and Services), Deployment Type, Organization Size, End User (Event Organizers and Planners, Government), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global event management software market size is expected to grow from USD 3.6 billion in 2020 to USD 6.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period.
COVID-19 has globally changed the dynamics of business operations. Though the COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has offered several opportunities to event management software vendors to expand their business across enterprises as the adoption of cloud has increased in lockdown caused due to COVID-19. Amidst lockdown, many companies are reducing their IT spending in 2020.
Support and maintenance services to help enterprises in achieving flexibility in business operations
Support and maintenance services are crucial, as they directly deal with customer satisfaction and issues. Every software vendor has a dedicated support team to serve the customers. Support, software maintenance, customer portal, post-deployment assistance, and client testimonials are some of the services provided under the support and maintenance segment. To derive consistent customer satisfaction, service providers regularly focus on enhancing their product knowledge base by receiving feedbacks through interviews and surveys. These services also provide a single point of contact that would help solve customer issues quickly. The customer portal is another helping aid that offers technical tips and software updates to customer forums.
Event organizers and planners to grow at the highest rate during the forecast period
Event organizers and planners help organizations in developing and planning events for their clients. The events include creating effective invitations, managing registrations, organizing housing and travel preferences, collecting online payments, and viewing reports in real time. Event organizers and planners help organizers in the management of the complete event life cycle. Event management in this end user segment offers a potent mix of office control with local autonomy to execute centralized decisions. It also manages the entire booking process, from inquiry to confirmation of booking, and occasions, including ceremonies, weddings, concerts, and social functions. Cvent is a leading provider of event management software for third-party planners.
North America to hold the largest market size and Asia Pacific (APAC) to grow at the highest rate during the forecast period
North America is the most mature market in terms of event management software solutions adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for event management software solutions vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt event management software solutions.
Key Topics Covered:
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Event Management Software Market, by Component
7 Event Management Software Market, by Deployment Type
8 Event Management Software Market, by Organization Size
9 Event Management Software Market, by End-user
10 Event Management Software Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent Market
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