This post is part ofG2's 2024 technology trendsseries. Read more about G2’s perspective on digital transformation trends in anintroductionfrom Chris Voce, VP, market research, and additional coverage on trends identified by G2’s analysts.
The future of event management software hinges on consolidation
In 2024, the event management software space will foresee a growing demand for automation and consolidation.
This transformative process of integrating various event technologies into one solution is poised to revolutionize the future of the industry, offering organizers and attendees a seamless event experience.
The event technology landscape has evolved significantly, driven by the rise of virtual and hybrid events. These shifts have redefined the concept of an event, encompassing both physical and digital spaces regardless of the scale.
Consequently, the need for versatile event management software has surged, along with the solutions supporting each stage of this revolution—now a normalized aspect of the event process for both organizers and attendees.
Despite a diverse range of event tech solutions, the industry lacks organization and integration of these tools, resulting in challenges of underutilized data.
To maximize efficiency, event organizers will turn to comprehensive platforms that seamlessly integrate attendee data and offer enhanced insights, improved data management, and personalized recommendations. This evolution can bring more profitable events, faster ROI, and positive feedback.
Longer ROI across event management technology creates opportunities for consolidation
In theory, event management platforms were created as an all-in-one solution, but in practice, every event type is different. Most platforms don't have the capacity to cater to this everchanging space. Despite this, buyers consistently turn to event management platforms to bring them results.
According to the average ROI data across the top five event management software categories, most software has seen longer ROI, all with returns over 10 months. In contrast, buyers reported consistent ROI over the past two years for event management platforms, but an ROI of 15 months is simply not fast enough.
The2023 G2 Software Buyer Behavior Report highlights that the most significant consideration during the purchasing process for buyers across all regions in 2024 will be the necessity to attain an ROI within a six-month window.
As it stands, the event software space needs to show faster returns. The lack of integration among the numerous pre- and post-event management technologies could contribute to the longer ROI.
With more all-in-one event management solutions that provide seamless integrations of different event management tools, organizers can expect a better user experience.
The event management space will evolve into having a unified event platform that offers innumerable scalability and flexibility to cater to all event types and will prove to have faster ROI in the future.
Embracing consolidation with hopes of collaboration
The event tech space is highly competitive as there are many different types of event software competing at each stage of the event management process. While challenges exist, consolidation will be the solution.
If not a better all-in-one platform, a solution will arise in partnerships and acquisitions amongst the different innovative event technology that caters to a wider range of event needs.
There is a lot of software in the market. The products that don’t have the flexibility to expand their features to integrate with other products or diversify their solutions will be acquired by companies that can.
Collaboration among event technology providers will thrive as consolidation becomes more widespread. Organizers will have access to a rich ecosystem of tools and features, fostering creativity and innovation in the event management industry.
Event solutions that welcome this trend will undoubtedly be at the forefront of this industry's exciting future.
Alanna is a Market Research Analyst at G2 specializing in marketing software. She is passionate about market research and the data-driven insights that help businesses understand trends in the industry, the psychology of human behavior, and the competitive landscape. With more than three years of experience working in market research, most of her time was focused on the life science industry until her recent transition into the world of technology. In her free time, Alanna is somewhere traveling the world, shopping at farmer’s markets, or attending gallery openings.
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2024 Trends: Consolidation of Event Management TechnologyAs buyers get overwhelmed by the numerous event solutions, a greater need for integrative all-in-one event management technology will arise.https://research.g2.com/insights/event-management-trends-2024https://learn.g2.com/hubfs/G2CM_C04_Digital_Trends_2024_16_Alanna_Iwuh_Event_Management_F1.png2023-10-11 10:05:13Z
Alanna IwuhAlanna is a Market Research Analyst at G2 specializing in marketing software. She is passionate about market research and the data-driven insights that help businesses understand trends in the industry, the psychology of human behavior, and the competitive landscape. With more than three years of experience working in market research, most of her time was focused on the life science industry until her recent transition into the world of technology. In her free time, Alanna is somewhere traveling the world, shopping at farmer’s markets, or attending gallery openings.https://research.g2.com/insights/author/alanna-iwuhhttps://learn.g2.com/hubfs/IMG_1348.jpg