A few of the major factors driving the meeting management software market include the growing integration of event management platforms, which allows for the seamless flow of data among different CRM systems. This integration facilitates the processes in an organization and contributes to the increasing demand for meeting management software. Growing demand for virtual meetings and teleconferencing and increasing cost of unproductive meetings are a few other factors driving the meeting management software market. The rising adoption of digitalization across sectors and strategic developments by major market players are expected to offer lucrative opportunities for market growth during the forecast period. Furthermore, the emphasis on operational efficiency, the provision of 24/7 engagement, and the growth of vast amounts of data entry are anticipated to create opportunities for the expansion of the meeting management software market in the coming years.
Meeting management software refers to a category of business tools designed to streamline and optimize the process of organizing, scheduling, and conducting meetings within an organization. This type of software typically encompasses features such as meeting scheduling, attendee management, agenda creation, document sharing, and post-meeting follow-up capabilities. The software aims to enhance the efficiency and effectiveness of meetings, ultimately improving overall productivity and collaboration within the organization.
Virtual meetings have become an important aspect of modern business operations, enabling individuals to engage in meetings regardless of their geographic locations. They offer a swift and cost-effective means of uniting individuals at different physical distances, facilitating seamless long-distance communication. The ease of remote communication has led to a preference for participating in group meetings via phone rather than in person, highlighting the growing prevalence of virtual meetings—which are more accessible and affordable. Moreover, virtual meetings serve as an effective platform for hosting live meetings and sales presentations. The growing popularity of virtual meetings highlights the increased adoption of online collaboration tools as well as signifies a shift in the way business interactions are conducted. The growing need for virtual meetings is driven by various factors that are shaping the market and influencing the adoption of meeting management software worldwide. The demand for software facilitating virtual meetings is expected to increase as companies focus on international business expansion and enhanced workforce management. Moreover, the impact of the COVID-19 crisis has played a major role in boosting the adoption of virtual events and meeting tools, fueled by digitization trends, remote work policies, and an increased need for cost-effective communication solutions. For instance, according to a report on “State of Meeting 2020” by Doodle in 2021, virtual one-on-one meetings increased by 1,230% from January 2020 to December 2020, and virtual group meetings grew by ~613% in 2020. This has led to a surge in demand for virtual meetings, making them an essential component in the current business landscape. For instance, according to a survey by Harvard Business Review in 2022, the number of meetings attended by a worker on average increased by 13.5% during the pandemic when a majority of employees were working remotely. Further, Buffer Inc. surveyed approximately 2,000 remote workers worldwide, out of which 61% of workers stated that the number of meetings has increased as a result of remote work after the onset of the pandemic. Thus, the increasing demand for virtual meetings drives the meeting management software market.
Meeting management software assists in planning and guiding team meetings to ensure interactive and smooth meetings. With growing digitalization and the rising adoption of remote work models, the demand for such solutions is gaining traction. To cater to this demand, the market players are engaged in several organic and inorganic growth strategies. Strategies such as new product development with advanced features, partnerships, expansions, mergers, and acquisitions help the market players boost their customer base. A few of the recent developments are listed below:
Thus, strategic developments by various market players are anticipated to offer opportunities for the meeting management software market growth during the forecast period.
Key segments that contributed to the derivation of the meeting management software market analysis are deployment, size, and application.
The regional trends and factors influencing the Meeting Management Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Meeting Management Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8.90 Billion |
| Market Size by 2031 | US$ 3.98 Billion |
| Global CAGR (2023 - 2031) | 10.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Deployment Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Meeting Management Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Meeting Management Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The meeting management software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the meeting management software market:
(Source: Cisco, Press Release)
(Source: Intelex Technologies, Press Release)
The "Meeting Management Software Market Size and Forecast (2022–2030)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - Meeting Management Software Market
The key players holding majority shares in the global meeting management software market are Cisco Systems Inc; Cvent Inc.; Televic; Tyler Technologies Inc; Granicus, LLC;
The global meeting management software market is expected to reach US$ 8.90 billion by 2031.
The incremental growth expected to be recorded for the global meeting management software market during the forecast period is US$ 4.92 billion.
The global meeting management software market was estimated to be US$ 3.98 billion in 2023 and is expected to grow at a CAGR of 10.6% during the forecast period 2024 - 2031.
Integration of machine learning with software is anticipated to play a significant role in the global meeting management software market in the coming years.
Increasing demand for virtual meetings and increasing cost of unproductive meetings are the major factors that propel the meeting management software market.