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.
Geographical Domination and Annual Revenues
In 2018, more than 50% annual revenue has been generated from 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
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 of 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 of 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.
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.
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