The Unfolding Impact of Event Management Software in 2024 and Beyond
Jan 10, 2024 Shruti Shah
The event industry is undergoing a transformative shift, driven by the rapid evolution of event tech. The latest projections indicate a robust trajectory for the US Conferences, Concerts, and Event Market, with a projected CAGR of 8.65% from 2022 to 2030. This market, valued at $70.3 billion in 2022, is anticipated to skyrocket to $153,096.5 million by 2030, propelled by an increasing demand for immersive experience
Behind the Numbers
Beyond statistics, the life cycle of event management software tells a dynamic story. With the rise of hybrid and virtual events, traditional barriers like cultural differences are now easier to overcome. This change ensures active participation from people worldwide. Language, once a big challenge, is now effortlessly handled with live translation features. And the complex logistics of foreign events, once a headache, find resolution with modern event management software.
In 2022, the US event services market was worth $70.3 billion. By 2030, it's expected to reach an impressive $153,096.5 million. With a steady growth rate of 7.0% from 2023 to 2032, this not only shows the event industry's strength but also suggests a growing need for innovative solutions to enhance overall event experiences and meet rising attendee expectations.
Tech-Powered Workflow
Streamlining workflows with event tech allows organizers to focus on tasks with precision. QR scan check-ins and e-tickets have transformed entry management, eliminating queues. Real-time data enables instant adjustments, and push notifications within event apps keep attendees informed about last-minute changes.
Recipe for Crafting Captivating Experiences
As events become more important in the business world, using event tech is crucial to create smooth and captivating experiences that meet attendees' changing needs. Event planners are now responsible for keeping attendees engaged since big screens, large venues, and famous speakers alone no longer capture their attention.
For attendees, networking goes beyond basic interactions and exchanging business cards. And sponsors and exhibitors want the ability to have quick 1-1 meetings with potential clients. Attendees also expect a personalized experience, for which organizers need to track popular sessions, manage crowds, and send push notifications as needed. And all this today can be handled easily from a singular dashboard in the event management software.
David Adler, founder of BizBash, rightly emphasizes, "We're no longer in the event industry; we're in the goosebump business. Because what happens is when people connect, you need to create a way where people feel that they are truly living. Technology is an enabling tool to allow us to do that and do it without friction."
Adam Perry, from Event Industry News, remarks, "80% of the reason people participate in events is to network, to meet up with their colleagues, friends, and potential customers."
Streamlining Processes with Technology
The Global Event Management Software Market is expected to grow significantly from $7.0 billion in 2021 to about $14.1 billion by 2026, showing a remarkable growth rate of 14.9%. This reflects a global trend where technology is increasingly relied upon to improve different aspects of event planning, execution, and overall satisfaction for attendees.
With the increasing complexities and higher expectations tied to events, there's a rising demand for all-in-one platforms. Attendees now want more than just any event; they seek an immersive experience beyond traditional formats. For organizers, relying solely on spreadsheets for planning is no longer enough. Event planners who use event management software, gaining control from behind the scenes, can effectively deliver value to attendees and achieve better returns for stakeholders.
Dahlia El Gazzar, from The Meeting Pool, is very sure that, "Excel doesn’t cut it anymore. I think it is awesome that our event planners are looking at."
Impact of Event Tech Beyond Current Limits
As companies increasingly see the value of in-person engagements, events play a crucial role in driving strategic goals and building lasting connections. The market is full of many options, making it challenging to choose the right event technology provider. Having the right event tech partner is key for a successful event that meets the expectations of sponsors and attendees.
Key features to look for in Event Management Software:
- User-Friendly Interface: Easy to use
- Comprehensive Features: Everything you need in one package
- Customization Options: Tailor it to fit your event
- Integration Capabilities: Works well with other tools
- Data Security and Compliance: Keeps your information safe
- Scalability: Grows with your event
- Mobile Accessibility: Use it on the go
- Customer Support: Reliable help when you need it
Eventcombo stands out as a robust all-in-one solution that encompasses all these criteria while empowering event organizers to create memorable and successful experiences for their attendees. As a tech aficionado and Eventcombo CEO, Saroosh Gull strongly believes, "When used intelligently, event technology can accelerate networking, expedite relationships, and bridge gaps much quicker."
As the event industry keeps growing, it's clear that event tech plays a crucial role in shaping overall event experiences. The numbers show that the industry is heading towards more innovation, efficiency, and unforgettable experiences, whether events are physical or digital. The increase in events might feel familiar, but with event tech leading the way, it's like going on an exciting journey into new, tech-infused territories.
Book a demo with us and be part of this event tech revolution.
