Latest News- Corporate Entertainment Market: Conventions is expected to lead the Type segment during 2024-2028

The Corporate Entertainment Market is being driven by Growing popularity of interactive videos

The Corporate Entertainment Market is expected to grow at a CAGR of 4.72% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 47.2 billion. In the corporate entertainment sector, crowd streaming through Facebook Live is an emerging trend. This tool, provided by Facebook, enables event managers to amplify their organization's reach by live-streaming corporate events. With a maximum duration of 90 minutes, these broadcasts can be accessed by an extensive user base post-live transmission. Facebook prioritizes live videos over other content, leading to enhanced viewership and broader audience engagement for organizers. Additionally, privacy and view settings can be customized during the broadcast, ensuring a professional presentation. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing popularity of interactive videos
• Increasing reach of social media
• Growing employee engagement among corporates

However, the market also witnesses some limitations, which are as follows:

• Fluctuation in demand from corporates
• Privacy and security concerns
• Ambiguity over return on investment

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Market Scope in Corporate Entertainment Market Research Report

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Research Analysis Overview

The corporate events market encompasses various activities designed to boost employee morale and foster team building, including recreation, retreats, and team building exercises. Annual meetings, conferences, seminars, trade fairs, and exhibitions are common business events that serve professional and business goals. Incentive programs, corporate meetings, and business meetings are essential for companies, big and small, to achieve their objectives. Planners organize immersive experiences, such as experiential entertainment solutions, elite speakers, performers, and live interactive events, to strengthen company culture and branding. Virtual reality experiences add a modern twist to corporate entertainment.

Market Research Overview

The corporate entertainment market, a segment of the larger global leisure products industry, encompasses team building exercises, annual meetings, retreats, and conferences. This market contributes significantly to the leisure products market's growth, which is projected to expand due to several key drivers. These include the increasing trend of corporate wellness programs, resulting in a rise in team building events, and the growing preference for experiential learning during conferences and seminars. Furthermore, the proliferation of digital technologies has facilitated the organization of more efficient and effective corporate events, thereby fueling market growth. Corporate event planners are increasingly focusing on creating unique and engaging experiences for employees to boost morale and productivity. The global leisure products market size is calculated based on the combined revenue generated by manufacturers of household durables, including leisure products. According to Technavio, the global household durables market is expected to grow due to the increasing memberships in health and fitness clubs, the high disposable income of consumers, and the rising trend of eco-friendly and sustainable products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/