The global EMS market is forecast to grow at a CAGR of 8.42% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: One of the major trends is the growing popularity of online education programs. Education holds the majority share of EMS. Educational institutions and organizations are increasing using EMS to organize events such as alumni reunions and concerts to attract more students to the school.
According to the report, one of the major drivers for this market is the increased number of corporate events. Product launch events are increasingly being used to introduce new products into the market. NGOs also conduct awareness programs by organizing events that promote a cause and help to raise funds. International sports events are also increasingly adopting EMS to track their events, which enable clear visibility of cash inflow.
Further, the report states that although organizations strive to achieve efficiency while deploying event management solutions, there is a lack of understanding among managers about the cash flow in handling and managing an event.