Report : Asia Pacific Events Management Platform Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware, Software, and Services), Deployment (On-Premise and Cloud-based), Application (Event Planning, Event Registration and Ticketing, Event
At 13.2% CAGR, the APAC Events Management Platform Market is speculated to be worth US$ 16470.01 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC events management platform market was valued at US$ 7837.20 million in 2022 and is expected to reach US$ 16470.01 million by 2028, registering an annual growth rate of 13.2% from 2022 to 2028. Gamification of events to engage a larger audience and emergence of advanced technologies growth are the critical factors attributed to the market expansion.
Gamification is the process of creating game-like systems around content, such as by creating teams, rewarding points for tasks, and tracking completion. Organizations across various industries are focusing on gamification to create high-quality experiences through events. Event organizers are using gamification as a tool to boost the engagement of attendees. Event gamification is the creation of game mechanics that provides attendees an edge by offering a unique event experience. Event gamification enables organizers to attain event goals and create a fun-filled memorable experience for event attendees. It works based on accessing attendees' emotions and offers various benefits, such as creating a relaxed atmosphere for attendees, boosting attendees' confidence, making communication easy and effective, and generating a common purpose. The event organizers use various gamification methods, including social media engagement, networking games, question and answer engagement, and teamwork games. Any event management platform can perform event gamification. Event gamification is the creation of game mechanics that gives the company an edge by offering a unique virtual event experience. Thus, the event gamification is expected to create opportunities for the event management platform market players with the rising number of events.
On the contrary, challenges associated with event management platforms hurdles the growth of APAC events management platform market.
Based on component, the APAC events management platform market is segmented into hardware software, and services. The software segment held 75.5% market share in 2022, amassing US$ 5,913.45 million. It is projected to garner US$ 12,303.94 million by 2028 to expand at 13.0% CAGR during 2022–2028.
Based on deployment, the APAC events management platform market is segmented into on premise and cloud-based. The cloud-based segment held 75.2% market share in 2022, amassing US$ 4,445.41 million. It is projected to garner US$ 9,675.11 million by 2028 to expand at 11.2% CAGR during 2022–2028.
Based on application, the APAC events management platform 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 held 24.8% market share in 2022, amassing US$ 1,943.89 million. It is projected to garner US$ 4,489.53 million by 2028 to expand at 15.0% CAGR during 2022–2028.
Based on end user, the APAC events management platform market is segmented into trade show organizers, event management agencies, corporates, academic, organizations, associations/non-profitable trusts/government bodies, and others. The event management agencies segment held 32.0% market share in 2022, amassing US$ 2,507.12 million. It is projected to garner US$ 5,750.79 million by 2028 to expand at 14.8% CAGR during 2022–2028
Based on country, the APAC events management platform market is segmented into China, Japan, India, Australia, South Korea, and Rest of APAC. Our regional analysis states that China captured 30.7% market share in 2022. It was assessed at US$ 2,409.91 million in 2022 and is likely to hit US$ 4,979.36 million by 2028, exhibiting a CAGR of 12.9% during the forecast period.
Key players dominating the APAC events management platform market are ACTIVE Network, LLC; Aventri, Inc.; BigMarker; Bizzabo; Swapcard; and Zuddl among others.
- In 2022, ACTIVE Network and accesso have entered strategic partnership to extend the reach of the company's solutions to the ski industry.
- In 2022, Bigmarker has announced the updates in their virtual & hybrid event hosting which includes enhanced RTMP streaming capacities, live badge scanner app, blocking of certain emails, restrict access, and much more.
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