A newly published report has forecast that the Event management software market will be worth US$7.78bn by 2019. Which would go some way to explaining why as event managers we sometimes feel like we are deluged with new products and services every five minutes.
The report from MarketsandMarkets pinpoints the drivers of this grown as the proliferation of smart phones, an increase in meeting spending, social media user platforms, a greater integration of solutions and the introduction of cloud platforms. With MICE organisers looking to increase their volumes the researchers identified an additional need to implement best of breed technology that can manage the whole event lifecycle. Price pays an important role in the choice of technology, with ROI required as quickly as possible.
The marketplace for event technology is vast, covering implementation and deployment services, support services, and training and education services offered by event management software vendors.Add to this event management software solutions such as payment processing software, online registration software, venue management software, event marketing software, event analytics software and it is no surprise that so many different companies of all shapes and sizes are rushing to take advantage of a market valued at US$5.10bn in 2014.
What this shows for event managers is that it is doubly important to interrogate technology providers to test the robustness of their solution.
For more information on the MarketsandMarkets report, go to http://www.marketsandmarkets.com/PressReleases/event-management-software.asp