How Has the Cloud Based Event Management Market Evolved Historically and What is its Current Size?
The cloud based event management market has seen considerable growth due to a variety of factors.
• In recent years, there has been a rapid expansion in the size of the cloud-based event management market. The market size is set to rise from $10.45 billion in 2024 to $12.12 billion in 2025, with a compound annual growth rate (CAGR) of 16.0%.
The historical growth has been driven by factors such as the rise in the use of cloud technology, growth in demand from the event management industry, an increase in business and event globalization, and a rising shift towards remote work.
What Does Future Hold for The Cloud Based Event Management Market By 2029?
The cloud based event management market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of cloud-based event management is predicted to experience a swift expansion. The market is anticipated to reach $21.99 billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 16.1%.
This progression during the estimated period can be ascribed to various factors, such as a rise in the adoption of virtual and hybrid events, an amplified demand for event automation, an escalating necessity for scalability in managing events, an increasing demand for mobile solutions for event management and a growing inclination for on-demand solutions for event management. Key trends for the prediction period comprise technological advancement, AI, and machine learning integration, real-time analytical data, virtual reality (VR) and augmented reality (AR), as well as the integration of social media.
What Are The Primary Growth Drivers In The Cloud Based Event Management Market?
The surge in popularity of online events is predicted to drive the expansion of the cloud-based event management market. Virtual events, or online events, are ones held on the internet, allowing attendees to participate virtually instead of in-person. The rise in their popularity can be linked to factors such as their accessibility, economical nature, growing work-from-home jobs, and consideration of the environment. Cloud-based event management services offer an all-in-one platform for event planners to handle every facet of their events, from registration and ticketing to interaction with attendees and post-event analysis. Services like online registration, ticketing, and attendee management are simplified and systematized, reducing the workload. As an example, a survey by Vimeo, a United States-based video hosting, sharing, and services platform, revealed in January 2022 that 72% of those surveyed plan to attend the same number (or more) of virtual events as they do currently, even after the resumption of physical events. Hence, the rising popularity of online events is contributing to the growth of the cloud-based event management market.
What Is The Segmentation Of The Global Cloud Based Event Management Market?
The cloud based event management market covered in this report is segmented –
1) By Component: Software, Services
2) By Organization Size: Small And Medium-sized Enterprises (SMEs), Large Enterprises
3) By End User: Event Organizers And Planners, Corporate, Government, Education, Other End Users
Subsegments:
1) By Software: Event Planning Software, Event Registration Software, Event marketing Software, Event Ticketing Software, Event Analytics And Reporting Software, Event Collaboration Software
2) By Services: Professional Services, Managed Services, Support And Maintenance Services
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What Trends Are Reshaping The Future Of The Cloud Based Event Management Market?
Leading firms in the cloud-based event management market are concentrating their efforts on establishing strategic partnerships in order to deliver dependable services to their clients. Strategic partnerships are alliances between two or more businesses or organizations designed to assist each other in achieving their individual objectives. For example, in March 2022, The Microsoft Corporation, a technology company based in the United States, established a partnership with Whova Inc., a US-based software firm that delivers smart event technology solutions. This collaboration aims to fine-tune the management of virtual and hybrid events for the customers of Microsoft Teams by leveraging the robust event planning potential of Whova and offering attendees a captivating experience. Through this integration, event planners can establish, adjust, and manage Teams meetings directly from the Whova app, streamlining operations by centralizing all processes on one platform. The main objective of this collaboration is to improve event management experiences by offering a smooth integration between Microsoft Teams and Whova, providing a complete solution for virtual and hybrid event planning.
Who Are the Key Players In The Cloud Based Event Management Market?
Major companies operating in the cloud based event management market are:
• ACTIVE Network LLC
• The International Business Machines Corporation
• RainFocus
• Zoho Corporation
• Cvent Holding Corp.
• Arlo Technologies
• XING Events
• Bitrix24
• Eventbrite
• Aventri Inc.
• Tripleseat
• Bizzabo Limited
• EventMobi
• Attendify
• Certain Inc.
• webMOBI
• EventBooking
• EventsAir
• Momentus Technologies
• EventGeek
• Hopin Ltd.
• Meeting Evolution Inc.
• Regpacks
• Boomset Inc.
• EventPro Software
• Eventzilla
What Are The Regional Insights Into The Cloud Based Event Management Market?
North America was the largest region in the cloud based event management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud based event management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
