PR Newswire | 19 Nov, 2015 PUNE, India: According to a new market research report ” Event Management Software Market by Component, Software, Service, Deployment Mode (On-Premise, Cloud), Organization size, Verticals (Education, corporate, Third-Party Planners, Government, & others), and Region – Global Forecast to 2020″, published by MarketsandMarkets, the global EMS market to grow from USD 5.44 Billion in 2015 to USD 9.28 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period.
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With the increase in the demand of meetings, inductions, conferences, exhibitions (MICE), event organizers are trying to implement best-in-class technology that can handle the entire event lifecycle from start to end. The report segments the global market on the basis of components, software, service, deployment mode, organization size, verticals and regions, along with providing an in-depth analysis and the market size estimations. The components include software and services, which have further been segmented. Services are expected to grow at a higher CAGR as compared to software segment. Managed services are expected to have the highest growth rate while professional services account for the highest market share in 2015. Analytics software is one of the fastest-growing software in the EMS market.
The report has been segmented by region: North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. The North American region is expected to continue being the largest revenue generator region for EMS vendors for the next five years, followed by Europe. The APAC region is expected to be the fastest-growing region in the EMS market during the forecast period. The market growth in developing regions such as APAC and MEA is due to the rapid adoption of emerging trends such as mobility and cloud. The figure below shows the market share of different regions in 2015 and 2020.
The market is competitive due to the entry of new players with new and innovative offerings. Major vendors in the EMS market space include Cvent, Xing Events, Certain Inc., Ungerboeck, etouches, EventbriteDEA, Active Networks, Lanyon, Zerista, while companies such as RegPoint Solutions, SocialTables, Eventzilla have also emerged as key innovators in this space.