Originally published on Technavio: Global Event Management Software Market Forecast and Analysis 2023-2027

Introduction:
Published in October 2023, this comprehensive report delves into the Global Event Management Software Market, projecting a growth of USD 2,425.09 million between 2022 and 2027 at a CAGR of 7.76%. The forecast period is marked by a dynamic landscape influenced by factors like the demand for low total cost of ownership, the rise of real-time event management systems, and the increasing popularity of cashless payment methods. The report explores obstacles, trends, and notable drivers shaping the market's trajectory.

Market Dynamics:
Utilizing 2022 as the base year, the analysis considers key drivers, trends, and challenges to assist companies in refining marketing strategies for a competitive advantage.

Key Market Driver:
The adoption of cashless payment methods emerges as a significant driver, streamlining transactions at events through wearables. Attendees load money onto wearables for seamless purchases, eliminating the need for wallets and reducing waiting times. The market is expected to benefit from this trend, providing a smoother overall event experience.

Major Market Trends:
The rise of chatbots is an emerging trend, offering event planners AI-assisted support for tasks like addressing attendee queries, gathering feedback, and sending tailored notifications. Chatbots enhance attendee experience, provide app-like features without downloads, and enable mass personalization, contributing to market growth.

Major Market Challenge:
Data security concerns pose a significant challenge, particularly with the prevalence of cloud-based solutions. The risk of information leakage and lack of transparency raise apprehensions among users, hindering the growth of the market during the forecast period.

Major Event Management Software Market Companies:
Companies employ diverse strategies, including alliances, partnerships, mergers, acquisitions, and product/service launches. Key players include Certain Inc., offering event management software for various event formats.

Market Analysis:
The report emphasizes the significance of real-time data and historical insights in event planning, catering to diverse needs in large-scale events. Corporate, cultural, public, and educational events contribute to vibrant communities, fostering collaboration and interaction.

Market Segmentation:
The cloud-based segment is expected to witness significant growth during the forecast period, with features like infinite data storage addressing capacity issues. The adoption of cloud-based solutions lowers operational risks and costs, making software more affordable and contributing to the global market's growth.

Key Regions:
North America is estimated to contribute 45% to global market growth, driven by the presence of global IT and retail companies. Canada's market is also significant, propelled by technological adoption, education sector expansion, and the presence of numerous companies.

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The report includes the adoption lifecycle, focusing on different regions and penetration rates. Key purchase criteria and drivers of price sensitivity are highlighted to assist companies in developing effective growth strategies.

The market report forecasts revenue growth globally, regionally, and at the country level, providing an analysis of trends and growth opportunities from 2017 to 2027.

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