According to our latest market study on "Event Apps Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Operating System, Type, and End User," the market is expected to grow from US$ 1,203.89 million in 2022 to US$ 2,648.46 million by 2028; it is expected to grow at a CAGR of 14.0% from 2022 to 2028.
Event apps enable event planners to plan and present their events in a well-organized manner, ensuring a personalized experience for attendees. An event app helps in better execution, precise management of events, and robust engagement of attendees. Event apps also allow people to connect to their audience from anywhere, providing a way to engage with the audience before, during, and after the event, saving time and money. Such advantages are propelling the growth of the event apps market.
A few benefits of event apps such as better value to the audience, quick access to event information, and enhanced planning and management solutions are propelling the event apps market growth in North America. Crowd compass, a US-based mobile event app provider for in-person and virtual events, enables people to attend events to absorb content and network, provide attendees with interesting content, and centralizes the event management process into one common channel. Growing demands for conferences, trade shows, universities, and even entertainment events are anticipated to boost the market for event apps. Integration of advanced solutions such as networking, content absorption, and audience engagement increases convenience for attendees and improves management efficiency for planners, which is further anticipated to propel the market growth.
Many industries across APAC faced huge losses due to the COVID-19 pandemic. The event apps market was adversely affected in Q1 and Q2 of 2020. Several events, including the Tokyo Olympics, had to be postponed owing to the COVID-19 pandemic. Thus, such cancellations led to a decline in demand for event apps across the region. However, the restriction on live events increased the demand for digital tools such as event apps to conduct online events for all industries, including education, corporate, media & entertainment, and fashion. Several functions such as award ceremonies, university fresher & farewell, convocations, and other corporate events were organized through online platforms from Q3 of 2020. These factors increased the demand for event apps, thereby helping in the recovery of the APAC event apps market. The region also experienced a rise in virtual events such as concerts, thereby fueling the demand for event apps from the media & entertainment industry.
Key Findings of Study:
The event apps market is segmented on the basis of operating system, type, end user, and geography. Based on operating system, the event apps market is segmented into iOS, android, and web-based. Based on type, the event apps market is segmented into enterprise event apps, hybrid apps, corporates meeting apps, conference apps, trade show apps, festival apps, and sports event apps. Based on end user, the event apps market is segmented into event organizer and planners, corporates, government, education, and others. Based on geography, the event apps market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In 2021, North America accounted for a significant market share.
The significant increase in the number of corporate activities such as conferences/seminars, brand promotions, and employee training activities; the rapid development of the tourism & hospitality sectors; and the expansion of IT hubs in Europe are driving the growth of the events market in the region. Other significant factors fueling the event apps market growth are the increasing number of business travel trips, shifting preference toward leisure travel by business travelers, expanding urbanization, and rising disposable incomes. The rise in business activities such as business conferences, summits, and seminars drives the demand for event planners, event management service providers, furniture and equipment rental services, and other corporate event components. Furthermore, the event apps market growth is bolstered by the rising deployment of best-in-class technology.
Furthermore, the event apps market in Europe is expected to undergo substantial changes during the forecast period owing to the growing application of big data analytics. Big data analytics enables exhibitors in the region to create well-researched marketing initiatives, digital campaigns, and effective methods to boost the event apps market growth. Businesses are adopting big data to provide vital business analytics to remain competitive in the market. The information acquired helps improve logistics planning, increases sponsorship options, raises event participation, boosts earnings, and increases exhibition attendance rates.
Moreover, businesses in Europe have recognized the need to adopt a connected approach to meet customer and industry demands. Exhibitions use the web and mobile solutions to connect consumers and vendors to year-round digital markets. These solutions provide many trade and networking opportunities and promote exhibits as a profitable marketing medium. All these factors are contributing to the event apps market in Europe.
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