The event management software industry is expanding globally, thanks to globalisation and economic liberalisation. Because of the rapid growth of annual revenue, Event Management Software (EMS) marketing organisations are more invested than ever.
The flourishing integration of the digital revolution and the continual demand for hosting national and international exhibitions, summits, trade or corporate conferences-assemblies, online registration-payment facilities, and access to social media have initiated substantial growth in the global software marketplace for event planners and business enterprise verticals.
Significant Development in the EMS Market: Influence of the Revenue Growth Dynamics
From a global perspective, the event industry has been growing consistently for the past few years. In 2015, the global EMS market was estimated to be worth US$5.8 billion and is growing fast to date, at a compound annual growth rate (CAGR) of 11.6%, between 2018-2022.
Over the last few years, the availability of cloud-based systems and ecommerce extension support, social media expansion, and diversities have led to the rapid growth of the multi-dimensional event management software industry. Event management software companies are continually trying out more user-friendly interfaces, intelligent analysis-based sensor feeds, collaboration with other service companies, event templates-blueprints, etc., to heighten the market value.
Big EMS Companies’ Collaboration: A Competitive Landscape of EMS Marketing
Strategic and business-reflective collaboration between EMS market vendors is invigorating the industry more and more as time passes. Big companies are partnering with smaller companies to share the latest technological advertisement campaigns and public management communication platforms. Most top-tier EMS companies partner with third-party ticketing system providers by following M&A strategies. By collaborating with these ticketing platforms, they aim to smoothen their global reach by utilizing the acquired event analytics data.
Currently, the leading companies in the Event Management Software Market worldwide are- Eventbrite (US), Cvent (US), XING Events (Germany), EventZilla, etouches (US), EMS Software (US), Ungerboeck Software International (US), SignUpGenius (US), Certain (US), Social Tables (US), Eventmobi (Canada), etc.
Here are some of the instances of three big EMS partnerships, Eventbrite, etouches and Cvent –
Eventbrite
- March 2016: Eventbrite is one of the most popular EMS solutions and started a partnership with Queue, a ticketing platform provider. With Queue’s technology, this partnership helped Eventbrite widen its product offerings, promoting innovative products and advanced quality data insights to event planners.
- September 2017: Eventbrite partnered with Ticketfly, another premium ticket platform provider. Through this collaboration, Eventbrite was able to offer live event technology, especially for music company organizers.
- June 2018: The company had a multi-year ticketing partnership with elrowFamily for more quantitative management and service.
- August 2018: Eventbrite’s latest collaboration is with Picatic, another advanced ticketing and event registration platform. This was a successful attempt to strengthen Eventbrite’s market value in Canada.
etouches
- June 2016: Etouches, another worldwide cloud-based event management software, announced a business alliance with Zentila—RFP resource, a provider of hospitality sourcing and booking solutions—to offer the most convenient event solutions.
- November 2017: Etouches started a new collaboration with the international non-profit association UNICEO (United Network of International Corporate Event Organizers). This collaboration helped Etouches boost its customer base, and UNICEO benefited from the overall post-event analysis.
Cvent
- April 2016: The top-ranked SaaS provider for event and hospitality management, Cvent, started collaborating with the cloud-based event management software provider, Lanyon, and announced the acquisition to boost their workflow and diversify public recognition.
Geographical Domination and Annual Revenues
In 2018, more than 50% of annual revenue was generated from the USA, with a market volume of US$28 million. The USA, China, the UK, Germany, and Japan are the top 5 countries with the most annual revenues in the EMS industry.
- China is placed second with an annual revenue of US$7 million in 2018
- United Kingdom’s annual revenue in 2018 was US$3.7 million
- Germany, one of the fast-growing EMS industries, earned US$3 million in 2018
- Japan’s annual revenue in 2018 was US$2 million
Here is the comparison between the annual revenue and user penetration in the leading countries according to the latest report of Statista.
Event management software market future analysis
At a CAGR of 13.96% over the forecast period (2023-2028), the event management software market is anticipated to increase from USD 8.51 billion in 2023 to USD 16.35 billion by 2028.
The huge rise in sporting, gaming, and entertainment events over the past ten years and the widespread use of software that can streamline events from beginning to end based on historical and real-time data are the primary reasons driving market expansion.
- Event management software is increasingly popular among professional and freelance organisers, especially third-party planners who handle multiple events or shows at any time of the year. Thus, it is a crucial tool for both large and small-scale planners.
- The increasing lifestyles of people have led to a demand for innovative event hosting, with companies and consortiums focusing on theme-based meetings and events to boost brand image. Social events, including awareness gatherings and fundraising, also increase the demand for event management software.
- Vendors and marketing firms increasingly seek collaborations with event organisers due to their proven marketing value. A recent survey by Social Tables revealed that 52% of respondents found event marketing more valuable than other channels, boosting demand for mobile-based event management software solutions to provide actionable insights for businesses.
- But one of the main things impeding the growth of the examined industry is the higher cost of event management software. Additionally, the study market’s expansion is hampered by lesser consumer awareness, particularly in developing and less developed nations.
- The COVID-19 pandemic significantly impacted the global sports market, slowing the industry due to postponements or cancellations of renowned events. However, the post-pandemic period is expected to be favourable for the market’s growth as economic activities gain traction and the pandemic’s impact reduces.
Growth of EMS Landscape in Australia
Over the past 5 years, the event management industry has broadened its extent stronger than ever before in Australia. By 2023, the annual revenue is expected to exceed 2.7% and reach over A$6.25 million, with a consistent demand for event management services and high expenditure of participants in 2017-2018. With the advancement of technologies, EMS is gradually taking over the event management industry in Australia. In replacement of face-to-face event management consultancy, it’s providing easily accessible event management software anywhere! Some globally applauded event management software like Eventbrite and Eventzilla and local competitors like Swift Digital and iVvy greatly contributed to establishing a virtual path of event marketing in Australia.
Ticketing Platform: A Vital Fragment of EMS Marketing
The gravity of a tactical event booking platform for event management software is more intense than it seems. An easy-to-navigate, time-efficient booking and ticketing process, secure online payment processing, cloud-based retrievable data information, and direct social media connectivity are some of the fundamental features of event management software company enterprises. Not only do the benefits of event booking software include – reduced work overload, attendee accommodation convenience and promotional advertising, but the platform also determines the influx of total revenue for the event. That means the successful execution of the event and the profits are mostly reliant on the right ticketing gears. Ticketing platforms also possess high ticket sales funnel across any geographical boundary and uninterrupted service for far-reaching customers.
Let’s take EventBookings as an instance. This newly introduced Australian event ticketing platform is envisioned to become a full-fledged EMS system globally in the coming years. Even in this competitive landscape of EMS marketing, this particular event ticketing system has developed the key ingredients of an event management system with features like cost-effective and effortless online registration, one-click social promotion, referral facilities, convenient localisation, multi-layered ticketing, customised discount on tickets, and not to mention instant reporting by carrying through the collected attendee data. EventBookings is continually widening its facilities, especially for neophyte entrepreneurs, event planners, event promoters, and marketeers, as an ultimate event planning solution digitally.
Event management software is a versatile tool that simplifies the planning, organisation, and execution of various events, from conferences and weddings to corporate meetings and trade shows. It provides a user-friendly interface to streamline guest registration, ticketing, agenda scheduling, and venue management tasks. This software enhances communication among event stakeholders, tracks budgets, and offers real-time analytics to monitor event success. With its ability to centralise information, automate processes, and ensure seamless coordination, event management software empowers event planners to create memorable and efficient experiences for attendees while reducing stress and manual work associated with event planning.
Choosing the right event management software involves several key considerations. Firstly, assess your specific event needs and size, whether a small meeting or a large conference. Next, consider features like registration management, ticketing, and mobile accessibility. Budget is crucial; find software that aligns with your financial plan. Look for user-friendly interfaces and robust customer support. Integrations with other tools like email marketing or CRM systems can be beneficial. Lastly, read reviews and request demos to ensure they meet your requirements. Careful evaluation of these factors will help you select event management software that best suits your event planning needs.
Determining the “best” event management software depends on your unique needs. Several options excel in different aspects. Eventbrite is great for ticketing and registration, while Cvent is robust for large-scale conferences. If you prioritise user-friendly interfaces, consider EventBookings or Bizzabo. For comprehensive event planning, tools like Bizzabo and Whova offer networking and engagement features. If budget is a concern, Eventbrite and Eventzilla provide cost-effective solutions. Ultimately, the best software caters to your event’s size, requirements, and budget. Research and trial multiple options to find the one that aligns best with your specific event management needs.
Event management software offers numerous benefits to companies of all sizes. First, it streamlines the entire event planning process, saving time and reducing manual labour. Second, it enhances organisation by centralising data, making managing guest lists, tracking registrations, and scheduling agendas easier. Third, this software improves attendee engagement through features like mobile event apps, networking tools, and real-time updates.
Financially, it helps manage budgets effectively and boost ROI by automating tasks and optimising resource allocation. Additionally, event management software provides valuable insights through data analytics, enabling companies to make data-driven decisions for future events. Lastly, it enhances branding and professionalism, offering attendees a seamless and cohesive experience, from registration to post-event follow-ups. Overall, event management software empowers companies to deliver memorable, well-organised events, strengthen customer relationships, and achieve their business objectives more effectively.
Event management software simplifies and enhances the planning, execution, and organisation of various events, such as conferences, trade shows, weddings, and corporate meetings. It facilitates guest registration, ticketing, agenda scheduling, and venue management. This software fosters better communication among event stakeholders, helps track budgets, and offers real-time analytics to gauge event success.
Centralising information and automating processes enables event planners to create seamless, well-coordinated experiences for attendees while reducing the manual effort and stress associated with event planning. Event management software is a versatile tool that optimises event logistics and ensures successful, memorable gatherings.
A symposium involves in-depth discussions, presentations, and lectures on a specific topic or theme. Typically, it brings together experts, scholars, and professionals from a particular field or industry to share their knowledge, research findings, and insights with an audience. Symposia are often academic or professional, fostering intellectual discourse and the exchange of ideas. They provide a platform for participants to engage in meaningful discussions, explore new perspectives, and collaborate on research or projects related to the symposium’s focus.
Symposia can vary, ranging from small, intimate gatherings to larger, multi-day conferences. Still, their primary purpose remains to disseminate and explore knowledge within a specialised area of interest.
EventBookings: Future Possibilities and Our Objective
Event-Bookings is one of the most promising online event ticketing platforms in Australia. It’s also one of the most easily accessible and affordable online event ticketing sites to offer customised event sites, comprehensive reports using attendee information, instant payment updates, social media integration, and other necessary event management features. Our key objective is to expand our potential to add more attributes to event management and facilitate access to the latest technologies. Since the event management software industry has already secured its position globally, EventBookings aims to diversify its growth and expansion worldwide.
The EMS industry’s continual growth for the past decade has proven that its global appeal and evolution will continue to strengthen its position in the industry in the long run. In this era of economic, political, and business convergence and the need for fruitful event execution, event management software will undoubtedly continue booming worldwide in the future. 2019 is making us more hopeful about this.
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