In past blogs, we’ve already discussed Hadoop-as-a-service, IT-as-a-service, backend-as-a-service and a handful of other fields that are transitioning to cloud-based, as-a-service models.
The event management sector is no different. Event management software is widely used for the management of professional and academic conferences, exhibitions, and shows. The solution-as-a-service makes the process of tracking and accessing attendee data easy, which also facilitates interoperability with social media and other marketing tools.
The Global Event Management-as-a-Service Market is expected to reach US$3.44 billion by 2019, growing at a CAGR of 23.45 percent from 2014-2019.
Global Event Management as a Service Market as Segment of Global Event Management Software Market 2014-2019
Increased demand for the cloud-based services are expected to seriously increase the market share of cloud-based event management through the projected period. Many market vendors have started delivering the technology as a service to capitalize on growing demand for cloud event management systems, allowing corporate IT departments to implement solutions at lower costs.
Trends to Watch in the Event Management-as-a-Service Market
Growing Popularity of Online Education
One of the major trends in the market is the increased use of events for education purposes. Virtual classrooms are a relatively new concept, and are becoming popular not only in traditional educational institutions but also in training centers with vocational courses.
Large educational institutions are increasingly using event management software to organize alumni meetings, education fairs, and recruiting fairs, and also to facilitate real-time connection between faculty and students.
Availability of Mobile Applications
Smartphone applications are becoming the next-generation platforms for virtual events, and vendors in the market are working to develop better applications for mobile devices, in order to increase their market share.
Vendors are also providing better integrations of virtual event technologies with social networks, as a result of the increased use of Twitter, LinkedIn, and Facebook, and the relevance of these platforms in business.
Growing Demand from Developing Countries
Evolving market dynamics and changing businesses aspects in recent years have prompted organizations worldwide to continuously innovate and overhaul their existing business models and enterprise infrastructures.
This is especially true in developing countries, where event management software is often used to support the growth of a company by enhancing the decision-making process. It also helps companies streamline their business processes, improve operational efficiency, and enables delegates and employees gain wider visibility. Because of the wide range of benefits, the high adoption of this software, especially in the APAC region, is one major trend that is expected to be witnessed in the market over the next few years.
