Authored By: Sarah
11 Jul 2024

 Events Industry Market to grow by USD 722.67 billion between 2024-2028

According to a research report “ Events Industry Market” by Type (Corporate events and seminar, Music concert, Festival, Sports, Others) Source (Sponsorship, Ticket sale, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 722.67 billion at a CAGR of  10.63% during the forecast period. The global events industry market has experienced significant growth due to the rising number of corporate events, including conferences, training sessions, seminars, and fundraisers. These events are essential for organizations to engage with employees, business partners, and clients, as well as for lead generation, product launches, and celebrating achievements. Virtual events have also emerged as a viable alternative for certain corporate gatherings. Organizations leverage events to foster employee engagement, support marketing and sales efforts, recognize team accomplishments, and entertain top executives..

Browse market data tables, figures, and in-depth TOC on “Events Industry Market” by Type (Corporate events and seminar, Music concert, Festival, Sports, Others) Source (Sponsorship, Ticket sale, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America) Global Forecast to 2028.

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By Type, the Corporate events and seminar segment is projected to dominate the market size in 2024.

In the evolving landscape of the events industry market, sponsorships have emerged as a primary revenue stream. Event organizers leverage sponsorships to enhance their offerings, capitalizing on the mutual benefits for both parties. Sponsors view events as strategic marketing platforms, enabling them to engage with desired audiences, amplify brand visibility, and align with specific niches. This paradigm shift is fueled by the recognition of events as potent branding vehicles, prompting substantial investments for premium placements and exclusive privileges.

By Source, Sponsorship  segment is expected to hold the largest market size for the year 2024.

The corporate events and seminars market experiences significant growth due to digitized core processes, customer-focused approaches, and an increase in product launches, conferences, seminars, and team-building events. Key stakeholders include private organizations, corporations, trading associations, educational institutions, and political parties. By outsourcing event services such as research, venue selection, transportation, and entertainment, these entities enhance operational efficiency and reduce costs by approximately 30%.

Europe is forecasted to hold the largest market size by region in 2024.

The European events industry market is projected to experience substantial expansion and lead the global events industry market growth during the forecast period. Traditional audio, web, and video conferencing vendors in Europe are transitioning towards unified communications and collaboration (UC&C) solutions providers. IT and BFSI sectors in Europe are primary drivers of web conferencing demand. Video conferencing adoption among enterprises is anticipated to rise due to renewed contracts for hosted video conferencing services and compatibility with upgraded system infrastructures.

The Events Industry Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Access Destination Services
  • Anschutz Entertainment Group Inc.
  • ATPI Ltd.
  • BCD Travel Services BV
  • CL EVENTS AND WEDDINGS
  • Clarion Events Ltd.
  • CS Ellis
  • Cvent Holding Corp.
  • DRP Holdings Ltd.
  • Entertaining Asia Ltd.
  • Event Rhythm
  • Freeman
  • Liberty Media Corp.
  • Questex Media Group LLC
  • Regpack Inc.
  • RELX Plc
  • Riviera Events
  • Theism Events
  • Group Seven Events Ltd.
.

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Research Analysis Overview

The Events Industry market encompasses a vast array of activities, including phone calls for reservations, online booking systems, and transactions for various events. This sector caters to corporate events and seminars, conferences and exhibitions, community causes, celebratory occasions, and business profitability. The purpose of these events can be diverse, ranging from trade exhibits and festivals to sports, art performances, music performances, and business objectives. Public gatherings for fundraising initiatives, promotions, seminars, corporate events, exhibitions, and conferences are common in this industry. Entertainment forms a significant part of events, with celebrations of achievements being a primary business objective. The Events Industry market is a thriving one, offering numerous opportunities for growth and innovation.

Market Research Overview

The Events Industry Market encompasses a vast array of corporate events and seminars, conferences and exhibitions, community causes, and celebratory occasions. This sector undergoes a continuous digital evolution, with real-time communication tools like video conferences, emails, and phone calls facilitating cost-effective and easily accessible interactions. Key segments include B2B and B2C events, with organizer sponsorships playing a significant role in hybrid events, sports sponsorships, and telecasting/broadcasting rights for professional sports organizations and fantasy sports. Emerging technologies, such as virtual events, mobile apps, and desktop apps, enhance attendee experiences and customer satisfaction. The industry caters to diverse audiences, including large enterprises, public organizations & NGOs, and various types of events, such as music & art performances, learning and knowledge exchange opportunities, and marketing events. Event logistics, ticketing processes, and registration are essential components, ensuring a positive impression for prospective customers and fostering brand loyalty and customer engagement. Intricacies of event organization include managing production costs, entertainment expenses, event rentals, venue costs, on-site fees, and overall operational outlay, which can be substantial significant expenditures. Event management companies leverage emerging technologies and partnerships with software organizations to streamline processes and provide a hands-on learning environment for participants. The industry's purpose extends beyond business profitability, with events serving societal needs and supporting community causes. The events sector is a vibrant and dynamic industry, offering opportunities for producers, entrepreneurs, speakers, performing artists, and international music professionals to showcase their talents and engage in valuable discussions and interactions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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