The global event management software market was valued at around USD 1 billion in 2016 and is likely to reach revenues of almost USD 2 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global event management software market, under its enterprise application portfolio. This market analysis deliberates the main drivers and key emerging trends and offers an analysis of key vendors like Cvent, EMS Software, etouches, Eventbrite, Lanyon Solutions, XING Events, and Ungerboeck Systems International.
According to Amit Sharma, a lead analyst for enterprise application research at Technavio, “The increasing demand for online registration and payment will drive the global event management software market. The vendors in the market are using cloud platforms for the registration of attendees and payments. These software solutions reduce the cost of an organization and provide an opportunity for the company to understand the spending patterns of customers. Moreover, cloud offerings provide automatic online registrations and it can be used for tracking and managing all online payments.”
The ease and convenience of online transactions have attributed to the popularity of these systems among various end-users. The penetration of tablets, smartphones, and other mobile devices is enabling quicker and seamless online transactions in the global market. Event management software offers a flexible and comprehensive suite of tools to manage online registrations, from website to intake of payments done by attendees to promotions.
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Emergence of virtual reality in event management
The companies in the event management industry are adopting virtual reality to reduce cost. Virtual reality is a 3D computer-generated environment that has the capability of replacing physical presence with virtual reality. Users need to wear a virtual reality headset and compatible gloves or handsets to relate effectively with the virtual environment. The use of VR technology will help service providers to organize bigger events without the restriction of space and the convenience of attending these programs as per the consumer schedule.
Rise in gamification of events
The gamification of events helps the event managers to ensure their event excites and engages attendees intending to forming a lasting relationship with the brand. The use of this technique increases attendee engagement levels at events and is a highly effective way of promoting a brand. The rapid advances in social media, technology, and wireless communication is helping the implementation of gamification in the global market. The introduction of new and innovative ways of engaging the attendees in the event like live polls via mobile app and virtual reality problem-solving games are gaining popularity in corporate seminars and exhibitions.
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This research report contains a thorough analysis of market shares and sizes of the sub-sections and geography. An analysis of the key enterprises, including their market shares, business overview, key financials, etc. is provided in this study. This market report also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Event Management Software Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Security Information and Event Management Market 2017-2021
- Global Event Management as a Service Market 2016-2020
- Global Mobile and Web Event Analytics Market 2016-2020
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