Report : Europe 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 10.8% CAGR, the Europe Events Management Platform Market is speculated to be worth US$ 20,287.95 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe events management platform market was valued at US$ 10,969.99 million in 2022 and is expected to reach US$ 20,287.95 million by 2028, registering an annual growth rate of 10.8% from 2022 to 2028. Surge in industrial webinars and growing inclination toward virtual events growth are the critical factors attributed to the market expansion.
Companies are incorporating videos to create more digital experiences as audiences' preference for on-demand viewing is growing. Virtually every marketer considers webinars a crucial component of their strategy and the most effective medium for generating quality sales leads. With webinars, companies from all industries are fast turning to digital-first interaction. According to the ON24 Webinar Benchmarks Report 2021, companies are rapidly transitioning to digital-first engagement with webinars. The findings are based on over ~2,000 businesses providing over ~100,000 digital experiences with ~100 participants utilizing ON24 in one of the most comprehensive data investigations of digital events in 2020. As per the data, the use of webinars climbed 162%, with attendance nearly quadrupling to over ~60 million people. Over ~61 million hours of material were consumed by audiences, representing ~300% growth. As the shift to digital platforms is rising, webinars are becoming increasingly necessary in marketing and sales. In a follow-up poll to the benchmarks report, 99% of marketers think webinars are essential to their strategies, with 72% stating they directly influence pipeline and revenue. The benefits of webinars, such as audience analytics, engagement data, and buying signals, provide marketers the opportunity to claim that 66% of sales teams prioritize webinar leads, making webinars the top digital channel for generating qualified leads and sales leads for 89% of respondents. Many marketers use videos to enhance audience engagement and viewing times throughout their events, with companies using webinars to provide dynamic digital experiences that engage their prospects and consumers. The growing popularity of videos demonstrates that viewers prefer active two-way engagement such as one-on-one conversations, group meetings, and peer-to-peer networking to passive ones. While live events are still the most popular, on-demand webinars are gaining more popularity by giving registrants easy access to knowledge anytime.
On the contrary, challenges associated with event management platforms hurdles the growth of Europe events management platform market.
Based on component, the Europe events management platform market is segmented into hardware software, and services. The software segment held 74.7% market share in 2022, amassing US$ 8,197.11 million. It is projected to garner US$ 14,890.15 million by 2028 to expand at 10.5% CAGR during 2022–2028.
Based on deployment, the Europe events management platform market is segmented into on premise and cloud-based. The cloud-based segment held 74.6% market share in 2022, amassing US$ 6,113.75 million. It is projected to garner US$ 11,565.60 million by 2028 to expand at 11.2% CAGR during 2022–2028.
Based on application, the Europe 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 26.0% market share in 2022, amassing US$ 2,856.56 million. It is projected to garner US$ 5,757.90 million by 2028 to expand at 12.4% CAGR during 2022–2028.
Based on end user, the Europe 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 31.6% market share in 2022, amassing US$ 3,471.56 million. It is projected to garner US$ 7,004.96 million by 2028 to expand at 12.4% CAGR during 2022–2028
Key players dominating the Europe events management platform market are ACTIVE Network, LLC; Aventri, Inc.; BigMarker; Bizzabo; and Swapcard 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, Swapcard has launched its 2 new hybrid event attributes which includes newsfeed feature & swapcard stream and swapacard's RTMP solution.
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