Report : Europe Meeting Management Software Market Forecast to 2031 - Regional Analysis - by Deployment Type (Cloud and On Premises), Enterprise Size (Large Enterprises and SMEs), and Application (Corporate, Healthcare, Government, and Others)
At 9.6% CAGR, Europe Meeting Management Software Market is Projected to be Worth US$ 2,532.31 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe meeting management software market was valued at US$ 1,213.89 million in 2023 and is expected to reach US$ 2,532.31 million by 2031, registering a CAGR of 9.6% from 2023 to 2031. Increasing adoption of digitalization and increasing adoption of digitalization are among the critical factors attributed to the Europe meeting management software market expansion.
Organizations are embracing digital transformation, leading to a growing need for efficient tools to facilitate virtual collaboration, streamline communication, and enhance productivity. Owing to such transformation, businesses seek solutions that can effectively support remote and distributed work environments. Furthermore, the integration of digital technology with business operations is fundamentally changing the way organizations operate and deliver value to their stakeholders. As a result, meeting management software providers can cater to the evolving needs of digitally driven businesses.
Moreover, numerous public entities depend on outdated, paper-driven methods while conducting meetings, resulting in a significant waste of time and resources. These inefficient processes incur unnecessary costs and hinder productivity. According to research published by the Regional Municipality of York, organizations, on average, can achieve an 81% reduction in printing costs per meeting through the utilization of meeting management technology. Meeting management software offers organizations the ability to digitally generate, distribute, edit, and collaborate on meeting materials, providing a more efficient and cost-effective alternative to traditional paper-based methods. Frequently, meeting materials are dispersed across various locations, and businesses rely on email or shared drives for distribution, leading to challenges in locating the required data promptly. Meeting management software offers organizations a unified and secure platform for storing all meeting-related files, resources, and action items. This enables both administrators and participants to access the required information conveniently. Thus, the growing adoption of digitalization is anticipated to create lucrative opportunities for the meeting management software market growth during the forecast period.
On the contrary, high cost associated with the software hampers the growth of Europe meeting management software market.
Based on deployment type, the Europe meeting management software market is bifurcated into cloud and on premises. The cloud segment held 64.3% market share in 2023, amassing US$ 780.33 million. It is projected to garner US$ 1,728.52 million by 2031 to register 10.5% CAGR during 2023-2031.
In terms of enterprise size, the Europe meeting management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held 71.6% share of Europe meeting management software market in 2023, amassing US$ 869.56 million. It is projected to garner US$ 1,845.09 million by 2031 to expand at 9.9% CAGR during 2023-2031.
In terms of application, the Europe meeting management software market is segmented into corporate, healthcare, government, and others. The corporate segment held 63.6% share of Europe meeting management software market in 2023, amassing US$ 765.44 million. It is projected to garner US$ 1,714.74 million by 2031 to expand at 10.6% CAGR during 2023-2031.
Based on country, the Europe meeting management software market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 28.1% share of Europe meeting management software market in 2023. It was assessed at US$ 341.35 million in 2023 and is likely to hit US$ 803.29 million by 2031, exhibiting a CAGR of 11.3% during 2023-2031.
Key players operating in the Europe meeting management software market are Cisco Systems, Inc; Intelex Technologies Inc; Cvent Inc; Televic; Granicus, LLC; Decisions; and MatchWare.com, among others.
- In January 2023, Cvent and MeetingPackage, two leading travel and hospitality technology companies, announced their partnership to give Cvent customers the ability to instantly book simple and small meetings with hotels and venues that are leveraging MeetingPackage.
- In January 2023, Intelex Technologies, one of the leading global providers of cloud-based environmental, health, and safety (EHS) management software, announced that it has been recognized as a leading EHS software provider by independent analyst firm Verdantix in its Green Quadrant.
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