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What is the market for mobile app for conferences and associations in US? (Can be an instance within the app or white-label)
Hello! Thanks for asking Wonder about the market for mobile app for conferences and associations in US. In short, after searching extensively through trusted media sites, corporate websites and Industry reports, I’ve determined that the information you requested is not publicly available because most sources only highlight the global market size, rather than US market size. However, the global market size of event management software was USD 5.44 Billion in 2015 and is forecast to grow at a CAGR of 11.3% to reach USD 9.28 Billion by 2020. Below, you will find the results of my research, along with my methodology.
METHODOLOGY
I've searched extensively through trusted media sites, corporate websites and Industry reports for the market size of mobile app for conferences and associations or events in US. I searched through market research websites like statista, grandsviewresearch, marketsandmarkets, etc. but the information about US market, was unavailable. Coming up short via all of these methods, I proceeded to search websites related to events industry like crowd compass, cvnet, etc and was able to find some important stats that confirms the growth of mobile event apps in US. These reports provided information such as; those 'likely' to use or potentially browse mobile app of an event, usage growth, and app related information among others. A further dive into this topic would have resulted to working outside Wonder’s timeline.
RESULTS
Since I was not able to unearth data specific to the market size and key market areas, I provided helpful insights giving information about the people 'likely' to use or potentially browse mobile app of an event. I also included other related data I encountered along my research journey.
Market size, analysis and trends
The global market size of event management software was USD 5.44 Billion in 2015 and is forecast to grow at a CAGR of 11.3% to reach USD 9.28 Billion by 2020. The North America region with the largest market share, for EMS vendors, as compared to other regions is expected to be the highest revenue generator region for the next five years.
This Industry is “not immune to the rise of apps” as 86 percent of event planners were expected to have an app at their event in 2016. The Event apps trends are: Vendors have realized the importance of launching their apps for attendees to interact with before, during and after the event. They are thinking carefully not to make their apps an “afterthought”. Another trend is that vendors are putting more effort to ensure that their apps are providing ideal user experience as opposed to focusing on the cost-saving aspect for organizers.
Averagely, in 2015, the big companies spent about 14% of their overall marketing budget on “industry conferences and customer events targeted at business buyers.” This percentage is more than any other activity, including digital advertisement which received an allocation of 10%. Ideally, it is clear that a number of technical experts are aiming for their software “to be the conference app download of choice.” For example, San Francisco-based Double Dutch set aside $45 million financing to round of growth for their mobile event app.
A finding by crowd compass.com suggests that companies are looking to save on costs by reducing their total printing costs via apps. An elite 10% of the industry expect to save 84% through this while 25% expect to save 65% within two years. Some top companies are aiming to eliminate their printing needs over the next few years by using apps. On average, 44% of attendees across the industry confirm using mobile event apps; this was expected to increase to 56% in 2016. "Among the top 10% of respondents in terms of current attendee app usage, the average percentage of the attendee base using their app is 85%, and by 2016 increased to 94% of attendees." “Associations are most likely to have a mobile event app today, followed by meeting planners and conference producers.” eMarketer reports that "44% of marketers and communications professionals use event management apps to increase engagement, 85% of event planners for betters attendee satisfaction and 80% being the median adoption rate for event apps."
Successful Meetings surveyed 120 meeting planners on how they are integrating apps into their planning process and found that 98.3% of organizers use a laptop or a desktop, 74.6% use a smartphone, while 55.9% use an iPad or other tablet for planning an event. They also found that 28.9% use a smartphone, while 30.7% use an iPad or other tablet for apps specifically designed for meeting planning. When the same organizers were asked, “What meeting planning functions do you use apps to manage?” 51.3% use the apps for facility search, 50% as planning tools, 53.9% for photos and videos, 31.6% for budget and bills while 31.6% for contracts, BEOs and RFPs.
The sheer volume of individuals using smartphones and tablets in their day to day life is a factor for event planners and organizers as well to consider. "Over the past three years, smartphone engagement has grown 300% to 442-billion minutes per month, while tablets experienced a 1000% increase in usage to 124-billion minutes per month." In 2013, mobile apps were used mostly to access the internet accounting for 85% of mobile time used. “The IMEX Group unveiled four predictions for the future and mobile event apps inevitably made the final cut: 60 – 63 percent of all respondents had used a mobile app for at least one of their events in the past two years — and 92 percent of corporate event marketers had done so... demonstrating that this is fertile ground for fast innovation and added value.”
An alternative route to getting data regarding the US market size for mobile app for conferences and associations will be to provide a list of some top companies in the US industry thus estimating the US market size by summing up their revenues. This way, we will get an approximate amount to enable you base your judgment.
CONCLUSION
To wrap it up, data regarding the US market size for mobile app for conferences and associations is not publicly available because most sources only highlight the global market size. However, the global market size of event management software was USD 5.44 Billion in 2015 and is forecast to grow at a CAGR of 11.3% to reach USD 9.28 Billion by 2020. Thanks for using Wonder! Please let us know if we can help with anything else!