Custom Software Development Market Size
Profitability varies by firm size by Carl Erickson June 30, 2011 4 comments Curiosity drove me to learn more about how software development firms of different sizes vary financially, and whether or not there have been recent changes in our industry with respect to firm size.
The global event management software market is projected to grow from USD 5.88 Billion in 2016 to USD 11.06 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period. The forecast period has been considered from 2017 to 2022, while 2016 is considered as the base year for estimating the market study. Objectives of the Study: The main objective of this report is to define, describe, and forecast the event management software market by segments including component, deployment type, organization size, end user, and region. The report provides detailed information regarding major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth. The report forecasts the market size with respect to 5 main geographic regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
The report profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments, such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities in the market. The research methodology used to estimate and forecast the event management software market begins with the collection and analysis of data on key vendor product offerings and business strategies from secondary sources, such as OneSource Business Browser, D&B Hoovers, 10K Wizard, Bloomberg, Thomson StreetEvents, Factiva, IT service providers, technology providers, press releases and investor presentations of companies, white papers, technology journals, certified publications, articles from recognized authors, directories, and databases. Vendor offerings have also been taken into consideration to determine the market segmentation.
The bottom-up procedure was employed to arrive at the total market size of the market from the revenue of the key market software providers and service providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. To know about the assumptions considered for the study, Industry Ecosystem The event management software ecosystem comprises vendors, such as Eventbrite (US), Cvent (US), XING Events (Germnany), ACTIVE Network (US), etouches (US), EMS Software (US), Ungerboeck Software International (US), SignUpGenius (US), Certain (US), Social Tables (US), Eventmobi (Canada), Hubb (US), Babylon Software Solution (Macedonia), and Regpack (US). Table of Contents 1 Introduction (Page No. 14) 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.4 Years Considered for the Study 1.5 Currency 1.6 Stakeholders 2 Research Methodology (Page No. 17) 2.1 Research Data 2.1.1 Secondary Data 2.1.2 Primary Data 2.1.2.1 Breakdown of Primaries 2.1.2.2 Key Industry Insights 2.2 Market Size Estimation 2.3 Research Assumptions 2.4 Limitations 3 Executive Summary (Page No. 23) 4 Premium Insights (Page No.
25) 4.1 Attractive Market Opportunities in the Event Management Software Market 4.2 Event Management Software Market, By Component 4.3 Market By Deployment Type 4.4 Market By Organization Size 4.5 Market By End-User and Region 4.6 Life Cycle Analysis, By Region (2017) 5 Market Overview (Page No. The global event management software market is expected to grow from USD 6.38 Billion in 2017 to USD 11.06 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period. Several factors, such as automation of entire lifecycle event, need for data-driven business outcomes, increased usage of social media and smartphones, and event management software as a cloud service are driving the market.
Moreover, an increased adoption of event management software by several end users, such as corporate, government, third-party planner, education, and others, are expected to boost the market growth. The event management software market is segmented by component (software and services), deployment type, organization size, end user, and region. Analytics and reporting software is expected to grow at the highest CAGR during the forecast period, as it helps organizations identify and track the Key Performance Indicators (KPIs) of overall management of organizing the event. The cloud deployment type is expected to grow at a higher CAGR during the forecast period. Cloud-based services help reduce the overall costs, while providing highly flexible and scalable access to solutions. Companies are deploying event management software over cloud to improve mobility, collaboration of data, and reduction of data loss during the transit. Security remains to be a critical issue that restricts its adoption; however, this issue is gradually being addressed through rigorous security tests conducted to the highest standards by third parties.
Custom Software Development Market Size
Due to these advantages, many vendors are switching from the on-premises deployment mode to the SaaS-based software solutions. Daniel t ferrara pdf reader. Though the growth of cloud-based TDM solution is comparatively slow with respect to other cloud based software applications, it is expected to grow gradually. The managed services segment is expected to grow at a higher CAGR during forecast period. Managed services help organizations in outsourcing their day-to-day operations for maintaining their existing network systems.
Organizations usually depend on managed service providers to reduce the cost of the network infrastructure maintenance and concentrate on their core businesses. Organizations often depend on a third-party managed services vendor, which typically covers all day-to-day operations of the event management software application and the network management. The global event management software market has been segmented by 5 major geographic regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America is expected to have the largest market share and is projected to continue to dominate the market during the forecast period.
North America is rapidly adopting emerging technologies, such as smartphones and cloud platforms. Major growth drivers of the market include increased cloud deployments and growing adoption of online service delivery. Furthermore, organizations in this region have adopted inorganic growth strategies to strengthen their presence across the world. However, lack of knowledge about software capabilities is hindering the growth of the event management software market. Major vendors of event management software across the globe include Eventbrite (US), Cvent (US), XING Events (Germany), ACTIVE Network (US), etouches (US), EMS Software (US), Ungerboeck Software International (US), SignUpGenius (US), Certain (US), Social Tables (US), Eventmobi (Canada), Hubb (US), Babylon Software Solution (Macedonia), and Regpack (US). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to enhance their position in the global event management software market.
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