Event Management Software Market Worth $7.78 Billion by 2019 | Virtual-Strategy Magazine - 0 views
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With the increase in the number of meetings, inductions, conferences, exhibitions (MICE), event organizers are trying to implement best-in-class technology that can handle the entire event lifecycle from planning to implementation.
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The major forces that have fueled the growth in this market are the proliferation of smart phones, increase in the meeting spending, social media user platform, integration of solutions and most importantly cloud platform.
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global Event Management Software Market is expected to grow from $5.10 billion in 2014 to $7.78 billion by 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 8.81% from 2014 to 2019.
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Although this is just a briefing of what is included in the full report, it is clear that event planning is a growth industry. With the growth in smart devices and nearly universal internet coverage, hotels that have their own venues or are affiliated with a venue can almost not afford to have a piece of the event industry. By automating their processes, hotels and their event planners can increase efficiency and their bottom line.