According to our industry analysis, the demand for event management software in Korea is expected to generate revenue of around USD 313.6 million in 2024. Over the next ten years, the demand for event management software in the country is projected to increase at a rate of 7.6% per year. By 2034, the net valuation of the Korea event management software industry is anticipated to reach USD 650 million.
Key Insights on the Event Management Software Sector of Korea
| Attributes | Details |
|---|---|
| Industry size of Korea in 2024 | USD 313.6 million |
| Expected Industry Size of Korea by 2034 | USD 650 million |
| Forecasted CAGR between 2024 to 2034 | 7.6% |
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In recent years, Korea has made significant investments in the construction of stadiums, hotels, conference centers, airports, and transit hubs to attract international event organizers. Its unique blend of modern trends and cultural heritage, along with the impressive hospitality sector, is expected to strengthen this trend and elevate the demand.
Lately, the Korean music industry, especially K-pop concerts, has experienced tremendous success and global appeal, increasing the frequency and scale of public events. The anticipated rise in national and international tours of music bands and solo performers is expected to further boost the demand for event management software.
The development of advanced data analytics features offered by event management software has made it a powerful and popular tool for event organizers. They can learn about the preferences, behavior, and overall success of their events, aiding in making well-informed decisions in the long run.
The on premise segment is anticipated to capture around 57.6% of the total demand for event management software in Korea in 2024.
| Event Management Software in Korea based on Deployment Type | On-premise |
|---|---|
| Total Share (2024) | 57.6% |
The demand for on premise event management software segment is higher in Korea to streamline processes and provide better experiences for attendees. Management software has now simplified many event preparation procedures from booking tickets and registration to guest management and post-event analytics.
Event management companies are expected to contribute 20.4% of the total event management software adoption in Korea in 2024.
| Event Management Software in Korea based on End User Type | Event Management Companies |
|---|---|
| Total Share (2024) | 20.4% |
Event management companies understand how crucial it is to adapt their services to local and cultural preferences in different parts of the country. Additionally, the presence of a sufficient workforce that is well-versed in contemporary digital technologies makes them the leading end-users of event management software.
Event management software providers currently capture a significant share of the business as they are pioneers in such solutions in Korea. However, the strengthening of the IT sector in the country has encouraged many regional players to enter the event management sector in recent years.
Event management software developers in Korea are trying to differentiate themselves by consistently experimenting with innovative features, simple user interfaces, and integration possibilities. Software developers in the country are also ensuring that their products are well-suited to Korea-based organizing methods by collaborating closely with local event professionals.
Recent Developments in the Event Management Software Industry in Korea
In October 2023, EVENTUS launched an all-in-one interactive & immersive event platform for transforming event management in South Korea. Beyond offering statistics on the popular channels, registration methods, and promotion efficacy, the platform also assists in attracting new clients. Moreover, by using software as a service (SaaS), it automates processes, cutting labor expenses and personnel while logging and rating guests' actions and behaviors throughout the event.
In 2023, the South Korean government started providing tax breaks for event planners as well as financing for the planning, marketing, and promotion of musical performances. It also encouraged growth in important sectors, such as international conferences, by allocating USD 6 million for three MICE cluster projects in Seoul that year.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 313.6 million |
| Projected Industry Size by 2034 | USD 650 million |
| Anticipated CAGR between 2024 to 2034 | 7.6% CAGR |
| Historical Analysis of Demand for Event Management Software in Korea | 2019 to 2023 |
| Demand Forecast for Event Management Software in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Event Management Software in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Companies Profiled | Eventbase; Eventbrite; Cvent; Splash; Bizzabo; Socio Labs; DoubleDutch; Hopin; Aventri; ON24; Attendify; EventMinder; Warmups; Eventival; Allseated |
| Key Provinces Analyzed while Studying Opportunities in Event Management Software in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju, Rest of Korea |
The anticipated CAGR for event management software in Korea through 2034 is 7.6%.
Event management software business revenue in Korea is likely to surpass USD 650 million by 2034.
Event management software developing companies are targeting corporates to boost sales.
On premise event management software deployment to account for 57.6% revenue share in Korea in 2024.
Adoption by event management companies is set to create 20.4% of total demand in Korea.
| Market Value (2023) | USD 8,736.6 million |
|---|---|
| Market Anticipated Value (2033) | USD 33,347.9 million |
| Projected CAGR (2023 to 2033) | 14.3% |
| Market Size (2022) | USD 2.7 Billion |
|---|---|
| Market Size (2032) | USD 12.6 Billion |
| CAGR (2022 to 2032) | 16.7% |
| Projected Value (2020) | USD 6,245.8 million |
|---|---|
| CAGR Value | 5.9% |
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Event Management Software Industry Analysis in Korea
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