Event management software (EMS) helps users manage all the bits and pieces that go into creating a successful event. EMS applications include online registration, online payment, venue selection and procurement, sourcing, paper management, exhibition management, content management, and booking and billing. The software also enables on-site operations like registration and supply billing.
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Basically, all the back-end stuff you need for a successful event.
Global EMS market ($ billions)
Source: Technavio
And according to a new report from Technavio, The global EMS market will grow at a modest compound annual growth rate of 8.42% from 2015 to 2020. The market was valued at $5.78 billion in 2015 and will hit $8.66 billion by 2020, thanks to a few key market drivers.
EMS in education
While demand from the corporate sector is the bread and butter of this market, the education industry is a growing end-user for EMS. Educational institutions require traditional event management, in the form of alumni reunions, education fairs, and recruitment fairs. But the rise of virtual classrooms also means there’s a demand for EMS to organize online training sessions and other e-learning events.
Cloud-based EMS solutions
We feel like a broken record, extolling the benefits of cloud-based solutions time and time again. But industry after industry is reaping the benefits of cloud software, and EMS is no different. The cloud-based EMS market will grow at a CAGR of 20% during the forecast period, as enterprises take advantage of the rapid scalability, easy access, uninterrupted service, and high security afforded by cloud-based EMS solution.
Mobile apps
One of the great knock-on effects of widespread cloud implementation is that it makes developing mobile EMS apps much easier.
This is especially important in the events sphere. A lot of event promotion takes place via Twitter, LinkedIn, Facebook or whatever social network is au courant. But most people access social networks over their mobile devices, with desktop access falling by the year.
So in order to capitalize on the user base on these sites, a lot of EMS vendors are creating mobile apps that integrate their products with social networks.
High visibility
One of the major benefits of using EMS is visibility. The software provides a detailed overview of all event activities, including expenses, and breaks down this information into specific categories (expenditure per department, for instance).
This helps organizations make smarter decisions about where to spend their money, which can help give a major leg up in the über-competitive events market.
