The tract of event management software industry is amplifying globally, thanks to the blessings of globalisation and economic liberalisation. Because of the rapid growth of the annual revenue; the Event Management Software (EMS) marketing organisations are more invested than ever.
The flourishing integration of digital revolution and the continual demand for hosting national and international exhibitions, summits, trade or corporate conferences-assemblies, online registration-payment facilities and access to social media have initiated a substantial growth in global software marketplace for event planners and business enterprise verticals.
Significant Development in EMS Market: Influence of the Revenue Growth Dynamics
In global perspectives, the event industry has been growing consistently for the past few years. In 2015, the global EMS market was estimated to be worth US$5.8 billion and is growing fast till date, at a compound annual growth rate (CAGR) of 11.6%, in between 2018-2022.
Over the last few years, the availability of cloud-based systems and ecommerce extensions support, social media expansion and diversities have led to the rapid growth of the multi-dimensional event management software industry. Event management software companies are continually trying out more user-friendly interfaces; intelligent analysis based sensor feeds, collaboration with other service companies, event templates-blueprints etc. to heighten the market value.
Big EMS Companies’ Collaboration: A Competitive Landscape of EMS Marketing
Strategic and business reflective collaboration between EMS market vendors are invigorating industry more and more as the time advances. Big companies are partnering with smaller companies for sharing latest technological advertisement campaign and public management-communication platforms. Most of the top-tier EMS companies are partnering with the 3rd party ticketing system providers by following M&A strategies. By collaborating with these ticketing platforms, their aim is to smoothen their global reach by utilising the acquired event analytics data.
Currently, the leading companies in Event Management Software Market worldwide are- Eventbrite (US), Cvent (US), XING Events (Germany), EventZilla, etouches (US), EMS Software (US), Ungerboeck Software International (US), SignUpGenius (US), Certain (US), Social Tables (US), Eventmobi (Canada) etc.
Here are some of the instances of three big EMS partnerships, Eventbrite, etouches and Cvent –
- March 2016: Eventbrite one of the most popular EMS solution started a partnership with the ticketing platform provider, Queue. With Queue’s technology, this partnership helped Eventbrite to widen its product offerings, promoting innovative products and advanced quality data insights to the event planners.
- September 2017: Eventbrite started its partnership with another premium ticket platform provider, Ticketfly. Through this collaboration, Eventbrite was able to offer live event technology, especially for music company organisers.
- June 2018: The Company had their partnership with a multi-year ticketing partnership with elrowFamily for more quantitative management and service.
- August 2018: The latest collaboration of Eventbrite is with Picatic, another advanced ticketing and event registration platform. It was their successful attempt to strengthen their market value in Canada.
- June 2016: etouches, another worldwide cloud-based event management software, announced their business alliance with Zentila- RFP resource, provider of hospitality sourcing and booking solution to offer the most convenient event needs as a whole.
- November 2017: etouches started its new collaboration with the international non-profit association UNICEO (United Network of International Corporate Event Organizer). This collaboration helped etouches to boost their customer base and UNICEO to get benefits from the overall post-event analysis.
- April 2016: The top-ranked SaaS provider for the event and hospitality management Cvent started the collaboration with the cloud-based event management software provider, Lanyon and announced the acquisition to give a boost to their workflow and diversify public recognition.
Geographical Domination and Annual Revenues
In 2018, more than 50% annual revenue has been generated from the USA with the market volume of US$28 million. The top 5 countries with the most annual revenues in the EMS industry are USA, China, UK, Germany, and Japan.
- China is placed second with the annual revenue of US$7 million in 2018
- United Kingdom’s annual revenue in 2018 is US$3.7 million
- Germany, one of the fast-growing EMS industries has earned US$3 million in 2018
- Japan’s annual revenue in 2018 is US$2 million
Here is the comparison between the annual revenue and user penetration in the leading countries according to the latest report of Statista.
Growth of EMS Landscape in Australia
Over the past 5 years, the event management industry has broadened its extent stronger than ever before in Australia. By 2023, the annual revenue is expected to exceed at 2.7% and reach over A$6.25 million with a consistent demand for event management services and high expenditure of participants in 2017-2018. With the advancement of technologies, EMS is gradually taking over the event management industry in Australia. In replacement of face to face event management consultancy, it’s providing easily accessible event management software anywhere! Some globally applauded event management software like Eventbrite, Eventzilla and local competitors like Swift Digital, iVvy had great contributions establishing a virtual path of event marketing in Australia.
Ticketing Platform: A Vital Fragment of EMS Marketing
The gravity of a tactical event booking platform for an event management software is more intense than it seems. An easy-to-navigate, time-efficient booking and ticketing process, secure online payment processing, cloud-based retrievable data information, direct social media connectivity are some of the fundamental features of event management software company enterprises. Not only the benefits of event booking software includes – reduced work overload, attendee accommodation convenience and promotional advertising, the platform also determines the influx of total revenue for the event. That means the successful execution of the event and the profits are mostly reliant on the right ticketing gears. Ticketing platforms also possess high ticket sales funnel across any geographical boundary and uninterrupted service for far-reaching customers.
Let’s take EventBookings as an instance. This newly introduced Australian event ticketing platform is envisioned to become a full-fledged EMS system globally in the coming years. Even in this competitive landscape of EMS marketing, this particular event ticketing system has developed the key ingredients of an event management system with features like cost-effective and effortless online registration, one-click social promotion, referral facilities, convenient localisation, multi-layered ticketing, customised discount on tickets, and not to mention instant reporting by carrying through the collected attendee data. EventBookings is continually widening its facilities, especially for the neophytes-entrepreneurs, event planners, event promoters or marketeers as an ultimate event planning solution, digitally.
EventBookings: Future Possibilities and Our Objective
EventBookings is one of the most promising online event ticketing platforms in Australia. It’s also one of the most easily accessible and affordable online event ticketing sites to offer customised event sites, comprehensive reports using attendee information, instant payment updates, social media integration, and other necessary event management features. Our key objective is to expand our potential to add more attributes of event management and facilitate access to the latest technologies in the future. Since the event management software industry has already secured its position globally, EventBookings is aimed to diversify its growth and expansion worldwide as well.
The continual growth of the EMS industry for the past decade has proven that the global appeal and its evolution will continue to strengthen its position in the industry for the long run. In this era of the economic, political, business congregation and the need for fruitful event execution, event management software undoubtedly will keep booming in the future, worldwide. 2019 is making us more hopeful about this.
Sources: https://www.marketsandmarkets.com/Market-Reports/event-management-software-market-136859992.html https://www.statista.com/outlook/264/156/event-tickets/united-kingdom#market-globalRevenue https://www.ibisworld.com.au/cartv2/purchaseoptions.aspx https://www.clickfunnels.com/blog/high-ticket-coaching-funnel/