Global event management platforms market expected to grow at a CAGR of 13.8%
By Felicia Nwosu
Data from Altus Market Research, which comprises comprehensive market analysis and insights across key market segments and geography, has projected that the global event management platforms market is expected to grow at a CAGR of 13.8% over the forecast period of 2023-2030.
According to Altus, the insights gathered for the market report analyzes the global market for the historical period of 2019-2022 and the forecast period of 2023-2030 based on the product installed base. The study took into consideration some of the key forecasting factors impacting the market conditions, as well as the major market developments in the market throughout the analysis period.
The platform also took a look at the market share analysis and market structure overview with detailed company profiling of leading players with their financials, product offerings and major developments to enable players to make strong, precise, and timely decisions.
To deepen industry players’ understanding of the report, the study employed several market parameters such as macroeconomic conditions, market environment, government policies, and competitive landscape into account while analyzing the market.
The data revealed that the global event management platforms market report also covers value chain and supply chain analysis that provides in-depth information about the value addition at each stage of the product. The projection showed that drivers such as restraints/challenges and trends, are some of the market dynamics incorporated to impact on the market throughout the analysis period.
It noted that negative factors such as the state of global economy, COVID-19 outbreak, and the Russo-Ukraine war have impacted adversely on the market growth. According to the analysis, the global economy experienced heavy headwinds, throughout 2019-2022, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns.
Similarly, it confirmed that the intensifying tension between the US and Iran along with the tightening sanctions on Venezuela by the US further hampered global economic growth in 2019. It further pointed out that the impact was also stimulated by the heightened trade war between the US and China and the rising trade uncertainty continued to exert adverse effects on the global economy.
Altus Market Research attested that the COVID-19 outbreak at the end of the year 2019 further deteriorated global economic growth, as governments of several nations have called on people to shelter in place at home, travel restrictions, shut down local businesses, and prohibited social gatherings. It also blamed other factors such as the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
It therefore listed some of the key market segmentation and companies based on deployment type, end user, and region.
It included Cloud, On-Premise, By end user, Corporate, government media and entertainment as some of the deployment type while North America, US, Canada, Latin America, Brazil and rest of the Middle East & Africa and many others as some of the regions operating in the space.
Meanwhile, despite the impact of the global economic crunch affecting the event management platforms market, the space still has leading companies operating These include and market players are Ungerboeck Software International Inc. Cvent Inc., XING SE, SignUpGenius Inc and others.
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