Event Management Software to Be Worth $6.4 Billion by 2026

Research firm MarketsandMarkets valued the global event management software market at $3.6 billion in 2020 and expects it to reach $6.4 billion by 2026, growing at a compound annual rate of 10 percent.

In its report, the firm cites rising demand for event automation, increased demand to capture actionable insights from events, and growing use of social media for event marketing as leading factors driving the growth

Event management software includes a wide range of products used to enhance the quality of events, provide enhanced visibility for event organizers, and streamline the planning, scheduling, and event marketing processes, according to MarketsandMarkets It also includes venue management software, event registration and ticketing software, event planning software, event marketing software, analytics and reporting software, visitor management software, content management software, onsite technology, and others , such as resource scheduling software and catering software.

The report identifies Cvent, Aventri, Eventbrite, XING Events, Ungerboeck Software, Bizzabo, and Certain as key players in the market. It also points out that the sudden shutdown of offices, schools, colleges, and physical retail stores due to COVID-19 led to an increase in demand for digital workplace tools and services, such as Zoom, Slack, Blackboard, Lynda, Canvas, Google Classroom, AnyMeeting, and Moodle. Amazon Web Services, Microsoft, and Google host and manage all applications in a public cloud environment.

The report also notes that many companies today are deploying event management solutions in the cloud to improve mobility and decentralize data storage and computing while taking advantage of the pay-per-use option and reduced installation and maintenance costs associated with the software-as-a-service model.