Event Management and Planning Software Market Size, Share, Growth, And Industry Analysis By Type (Cloud-based, On-premises, and Event Management and Planning Software) By Application (Small and Medium Enterprises (SMEs), and Large Enterprises), Regional Insights, and Forecast From 2024 To 2031

Event Management And Planning Software Market Report Overview

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The global event management and planning software market size was USD 5843.4 million in 2022 and is expected to reach USD 14462.49 million in 2031, exhibiting a CAGR of 10.6% during the forecast period.

A tool that can be used to assist in organizing and managing events is an event management and planning software. This software can organize tasks, arrange events, and even track event expenses. Anyone who regularly plans or manages events may find this software useful.

Today's market is filled with various event management and planning software. Event planners can use these resources to assist in the whole planning and execution of their events. Microsoft Office 365, Google Calendar, and Adobe Creative Cloud are some examples of well-liked software. Each of these applications has a unique assortment of features and functionalities that may be customized to meet the particular requirements of any event.

COVID-19 Impact: Lockdown Restrictions, Closure of Restaurants and Foodservice Outlets Hampered the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the event management and planning software market growth and demand returning to pre-pandemic levels once the pandemic is over.

The market for software for event management and planning has been significantly impacted by Covid-19. Many companies were forced to cancel or postpone events in the wake of the epidemic, which caused a substantial drop in demand for these products. Some businesses, however, perceive this crisis as an opportunity and are changing their products to fit the demands of a shifting market. As an illustration, Eventbrite recently unveiled a new function that enables users to broadcast their events. This might be a game-changer for the business because it offers an entirely new method of holding events that is both secure and practical for attendees. Other businesses also provide possibilities for virtual gatherings and fresh features that provide social seclusion at actual events. There is little doubt that the Covid-19 epidemic has affected market. However, how long-lasting that effect will be is still up for debate.

Latest Trends

"Offering a Complete Suite of Tools to Help Planners Manage Every Aspect of Their Events Boosts the Market Expansion"

To suit the needs of event planners, the software is continually evolving. Offering a full suite of tools to assist event planners in managing every aspect of their events is the newest trend in this software. This comprises programs for controlling payments, logistics, and other processes. Eventbrite, Cvent, and MeetingMax are a few of the most well-liked software packages for managing and organizing events. These suites include various features and are frequently updated with the newest event management trends.

Event Management And Planning Software Market Segmentation

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• By Type Analysis

The event management and planning software market can be segmented into cloud-based, on-premises, and event management and planning software. Among these, cloud-based are projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into small and medium enterprises (SMEs) and large enterprises. Small and medium enterprises (SMEs) are expected to hold the most significant event management and planning software market share in the upcoming years.

Driving Factors

"Need for Better Event Management and Planning and the Increasing Popularity of Events To Propel the Market Expansion"

The market is expanding quickly, and new companies are constantly joining the market. The main market drivers are the demand for better event planning and administration and the rising popularity of events. Event planning and administration software enable organizations to handle their events more successfully and efficiently. They offer a centralized location for all event data, let companies track and manage their event budgets, and offer a forum for interaction between various event stakeholders.

"Increasing Dependency on Social Media Fuels the Market Growth"

The events' marketing and promotion are becoming increasingly dependent on social media. Event organizers use social media to promote their events, connect with participants, and cultivate client connections. As more individuals look for opportunities to socialize and have fun, events are becoming more and more popular. This tendency will probably continue as more people look for chances to mingle and engage in interpersonal interaction.

Restraining Factors

"Limited Number of Software Providers Hinder the Market Growth"

The small number of software providers constrains the market. As a result, prices are higher than they would be if there were more providers, indicating that the market is not very competitive. Another barrier is that some event organizers are hesitant to employ new technologies and would rather stay with tried-and-true techniques. Due to this reluctance to change, it may be challenging for new software vendors to establish a presence in the market.

Event Management And Planning Software Market Regional Insights

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"North America to Dominate Market Due to Need for Better Event Management and Planning and the Increasing Popularity of Events"

Between 2022 and 2028, the event management and planning software market will be dominated by North America. Factors driving the market growth in this region include the need for better event management and planning and the increasing popularity of events.

Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). Increasing dependency on social media fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP EVENT MANAGEMENT AND PLANNING SOFTWARE COMPANIES

• Eventbrite (U.S.)
• Cvent (U.S.)
• Planning Pod (U.S.)
• Aventri (U.S.)
• EventBank (Japan)
• Whova (U.S.)
• Boomset (U.S.)
• Idloom (Belgium)
• Konfeo (Poland)
• Raklet (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.