DUBLIN–(BUSINESS WIRE)–The “Event Management Platform Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Component, Deployment, Application, End User” report has been added to from ResearchAndMarkets.com offer.
The Event Management Platform Market was valued at USD 31,236.76 Million in 2022 and is projected to reach USD 60,011.52 Million by 2028. It is expected to grow at a CAGR of 11.5% from 2022 to 2028.
In North America and Europe, the growth of the event management platform market is increasing owing to a growing tech-savvy population, high internet penetration and better internet connectivity, which has led to massive use of event management platforms. Additionally, the adoption of advanced data analytics in event management platforms is driving the market growth in these regions; hence, the demand for event management platforms is increasing.
The growth of the event management platform market in the APAC region has increased owing to the rapid adoption of advanced technologies in countries such as China and India. Government initiatives to promote digital infrastructure are driving the adoption of event management solutions.
The region has a large customer base for many industries, which requires brand marketing activities to reach potential customers. Event management platforms are becoming increasingly popular in the APAC region due to the growing internet penetration and fierce competition among companies and organizations expanding their businesses in the region. Thus, these factors create a huge opportunity for the growth of the event management platform market.
In MEA and SAM, the event management platform market is growing due to factors such as the integration of gamification and advanced virtual reality techniques in event management platforms for the audience engagement, the adoption of technologies such as machine learning, artificial intelligence (AI), and the Internet of Things (IoT) in event management platforms. Thus, these factors are expected to provide lucrative opportunities for the event management platform market over the forecast period.
In addition, the events industry in North America is going through one of the most significant transformations in its history. The COVID-19 pandemic has dramatically boosted the event industry through technological innovations. With the emergence of advanced technologies, conferences/seminars have been revolutionized.
Previously, all event planners only needed an overhead projector. However, wireless connectivity has become essential to business growth and efficiency in North America. Additionally, LCD projectors, video conferencing, and fast laptops are the new normal for corporate events in the United States. Therefore, the increasing transition of the event industry is expected to provide lucrative opportunities for event management platform providers.
Factors, such as a growing trend towards global virtual events and an increase in industry webinars, are influencing the event management platform market. Additionally, gamification of events to engage wider audiences and emergence of advanced technologies are among the factors contributing to the growth of the event management platform market. However, issues associated with event management platforms restrict the market for event management platforms.
As significant resources are required to organize corporate events, the growing government investment and expenditure from other industries in the event industry is driving the North American event management platform market all over the world. throughout the forecast period. Businesses in the region are trying to mine information for valuable insights as the competition is high in the event management platform market.
Additionally, to use the data, event management software vendors integrate their tools with various enterprise systems, including collaboration platforms, customer relationship management (CRM), marketing automation software and payment gateways. These technologies help organizations capture and analyze participant behavior, enabling them to make more effective business decisions.
Active network; Arlo; to assist ; Adventurous; Bizabo; Wind ; Event Espresso LLC.; Eventbrite, LLC; Grenadine Technologies Inc.; and Zerista, Inc. are a few key event management platform market companies operating in the North American event management platform market.
Gamification is the process of creating game-like systems around content, such as creating teams, rewarding points for tasks, and tracking completion. Organizations from various industries are focusing on gamification to create high-quality experiences through events. Event organizers use gamification as a tool to boost attendee engagement. Event gamification is the creation of game mechanics that give attendees an advantage by providing a unique event experience.
Event gamification allows organizers to achieve event goals and create a fun and memorable experience for event attendees. It works on the basis of accessing participants’ emotions and provides various benefits, such as creating a relaxed atmosphere for participants, building participants’ confidence, simple and effective communication, and generating a common objective.
The event organizers use a variety of gamification methods, including social media engagement, networking games, question and answer engagement, and teamwork games. Any event management platform can perform event gamification. For example, Glue Up offers an event gamification tool in its event management software.
Event gamification is the creation of game mechanics that gives the business an advantage by providing a unique virtual event experience. Thus, the gamification of events is expected to create opportunities for market players with the growing number of global events.
Key market dynamics
Growing inclination towards virtual events
Rise of industrial webinars
Challenges associated with event management platforms
Gamification of events to engage a wider audience
Emergence of advanced technologies
Active Network, LLC
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