New York, July 06, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Event Management Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component [Hardware (Physical and Hybrid Check-in), Software, and Services (Professional Services, Managed Services)], Deployment (On Premise and Cloud-based), Application (Event Planning, Event Registration and Ticketing, Event Marketing, Content Management, Networking Management, Analytics and Reporting, Audience Management and Communication, Visitor Management, Venue Management, Virtual Lobby Management, and Others ), End User (Trade Show Organizers, Event Management Agencies, Corporates, Academics, Organizations, Associations/Non-profitable Trusts/Government Bodies, and Others)”, based on component, the market is segmented into hardware, software, and services. The software segment led the market with the largest market share in 2021.
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Event Management Platform Market Report Scope & Strategic Insights:
|Market Size Value in||US$ 31.23 Billion in 2022|
|Market Size Value by||US$ 60.01 Billion by 2028|
|Growth rate||CAGR of 11.5% from 2022 to 2028|
|No. of Pages||174|
|No. of Charts & Figures||104|
|Historical data available||Yes|
|Segments covered||Component, Deployment, Application, and End User|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Event Management Platform Market: Competitive Landscape and Key Developments
ACTIVE Network, LLC; BigMarker; Aventri, Inc.; Bizzabo; Swapcard; Goldcast; WebEx Events; PheedLoop Inc.; Zuddl; and Airmeet are among the key players profiled during the study of the global event management platform market. In addition, several other essential market players were studied and analyzed to get a holistic view of the event management platform market and its ecosystem.
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In May 2022, ACTIVE Network and accesso entered into a strategic partnership to extend the reach of the company’s solutions to the ski industry. This partnership would allow ACTIVE Network to access the e-commerce ticketing suite of accesso, and the clients of accesso would get an option for real-time transport protocol (RTP).
In January 2022, Aventri merged with MeetingPlay, an innovative solution provider for in-person, virtual, and hybrid events. The new event software powerhouse would combine the strengths of both companies to offer a complete full-service solution for meetings and events.
The major stakeholders in the global event management platform market ecosystem include event management platform hardware/software/service providers, system integrators, and end users. With the rising demand for event management platform solutions for event planning, event registration and ticketing, event marketing, content management, networking management, analytics and reporting, audience engagement and communication, visitor management, venue management, virtual lobby management across the globe, the event management platform providers are also experiencing sustainable growth opportunities.
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The major end users of the event management platform market include trade show organizers, event management agencies, corporates, academic, organizations, associations/non-profitable trusts/government bodies, and others. Among end users, the event management agencies segment to have the highest share. Event management agencies help organizations develop and plan events for their clients. The events include creating effective invitations, managing registrations, organizing housing and travel preferences, collecting online payments, and viewing reports in actual time.
Event Management Platform Market: Application Segment Overview
Based on application, the market is segmented into event planning, event registration and ticketing, event marketing, content management, networking management, analytics and reporting, audience engagement and communication, visitor management, venue management, virtual lobby management, and others. The event planning segment led the event management platform market with the largest market share in 2021.
Companies are incorporating videos to create more digital experiences as audiences’ preference for on-demand viewing is growing. Virtually every marketer considers webinars a crucial component of their strategy and the most effective medium for generating quality sales leads. With webinars, companies from all industries are fast turning to digital-first interaction. According to the ON24 Webinar Benchmarks Report 2021, companies are rapidly transitioning to digital-first engagement with webinars. The findings are based on over ~2,000 businesses providing over ~100,000 digital experiences with ~100 participants utilizing ON24 in one of the most comprehensive data investigations of digital events in 2020.
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As per the data, the use of webinars climbed 162%, with attendance nearly quadrupling to over ~60 million people. Over ~61 million hours of material were consumed by audiences, representing ~300% growth. As the shift to digital platforms rises, webinars are becoming increasingly necessary in marketing and sales. In a follow-up poll to the benchmarks report, 99% of marketers think webinars are essential to their strategies, with 72% stating they directly influence pipeline and revenue. The benefits of webinars, such as audience analytics, engagement data, and buying signals, allow marketers to claim that 66% of sales teams prioritize webinar leads, making webinars the top digital channel for generating qualified leads and sales leads for 89% of respondents.
Using modern technologies, such as webinars, in the healthcare industry helps to continuously optimize the execution of care and streamline processes that support and enable efficient care delivery. Webinars can also help break down collaborative boundaries, allowing faster clinical discovery. Similarly, educational webinars and web conferencing technologies have recently received more attention. Students do not need to spend money on transportation or lodging to receive an education. Similarly, the educational institution does not need to make significant space or class size investments to accommodate new pupils. Thus, the growing use of webinars is driving the event management platform market growth.
Impact of COVID-19 Pandemic on North America Event Management Platform Market:
The dramatic shift to virtual events created new challenges for event planners, such as rethinking plans and designs, managing remote speakers to deal with new technologies, and finding interesting ways of keeping people engaged. Moreover, the declining gross domestic product (GDP) of the region hampered the event management platform market growth. The COVID-19 crisis has drastically forced event planners to switch from in-person meetings to virtual meetings.
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The COVID-19 outbreak has slightly affected the event platform providers for conducting virtual events. However, the event management platform market is expected to foresee significant growth opportunities in the coming years owing to the rising demand for digital content and live streaming. Thus, the overall impact of the COVID-19 pandemic on the North American event management platform market is moderate.
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