The global events industry market was valued at $1,135.4 billion in 2019, and is projected to reach $2,046.7 billion by 2032, registering a CAGR of 6.4% from 2023 to 2032. The term "events industry" refers to a diverse industry which is involve in planning, organizing, and execution of various events all around the world and it offers services for different occasions such as corporate event, social events, cultural events, sporting events, among others. The key stakeholders within the events industry are corporate organizations, public organizations & NGOs, and similar others.
The global events industry market is analyzed on the basis of type, revenue source, age group, distribution channel, and region. By type, the market is divided into synthetic wigs, human hair wigs, and animal hair wigs. By application, the market is divided into personal and commercial. By distribution channel, it is classified into specialty stores, department stores, online sales channel, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Spain, Germany, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Middle East, and the rest of LAMEA).
The impact of the COVID-19 outbreak had a negative effect on the growth of the global events industry market. The restrictions and lockdown resulted in the halting of organization of events and functions, gradually impacting the overall growth of the industry. However, a recovery of the events industry market is expected in the near future owing to the rise in demand for event services from various sectors on a global scale.
The primary driving force behind the expansion of the events industry market is the substantial increase in global event sponsorships. Prominent players from various industries have made significant investments in events, such as sporting competitions and concerts, as a strategic approach to promote and create awareness about their products and services. As an effort of sponsoring these events, companies aim to leverage the wide reach and engaged audience that such gatherings attract, which ultimately results in improved brand visibility, increased customer engagement, and potential business growth opportunities. This surge in sponsorships highlights the pivotal role events play in the modern business landscape, positioning them as a key driver of market growth and competitiveness. Event sponsorship has become a critical strategic investment for businesses who seek enhanced brand visibility and targeted marketing opportunities. Companies extend financial support to events or organizations through sponsorships, thereby gaining a valuable platform to promote their products to a wide consumer audience. This strategic approach effectively enhances product acceptance among different groups of customers. Moreover, the potential for tax deductions on sponsorship expenses serves as an added incentive for businesses to capitalize on these opportunities, which helps to optimize their returns on marketing investments. In addition, event sponsorship offers a wide range of benefits that facilitate the achievement of marketing, branding, and financial objectives for businesses. It also fosters brand loyalty and allows companies to better understand and cater to consumer preferences. Furthermore, events serve as effective tools to captivate the interest of both existing and potential customers, which thus leaves a positive impression that contributes to heightened brand loyalty.
Event organization involves substantial expenditure which consists of various cost factors that contribute to the overall operational outlay. These expenses comprise on-site fees, venue costs, food and catering expenditures, event rentals, entertainment expenses, and production costs. On-site expenses refer to charges levied by the event venue, which can significantly impact the overall budget of an event. The venue costs comprise multiple components such as security deposits, room rentals, insurance coverage, and parking fees. The food and catering component encompasses the expenses associated with furnishing beverages, meals, and server wages, in addition to other relevant costs. Furthermore, a notable outlay in event management pertains to production expenditures, which consists of the strategic coordination and administration of various logistical elements, as well as endeavors to attract attendees. Thus, these expenditures collectively impose a substantial financial burden on event organizers, posing a significant obstacle to the expansion of the global event industry market.
Online booking, phone calls, emails, and video conferences have made event planning cost-effective and easily accessible. This shift has expanded the customer base through creative digital means. Smartphones, desktop apps, and mobile apps have streamlined event organization, which thus makes it more efficient and manageable. Webinars and video conferences offer seamless event experiences and create lucrative opportunities for market expansion in forthcoming years. Technology has enabled event managers to handle logistics, registration, and ticketing processes with ease, which enhances attendee experiences and satisfaction throughout the event. Real-time communication tools improve team coordination and help in the reduction of errors. Data analytics allows for better customer engagement and personalization, which significantly allows the companies to increase their brand loyalty. The trend of online events is expected to grow, and it presents businesses with opportunities to reach global audiences and foster international collaborations, thus boosting the market growth.
The major players operating in the global events industry market are Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd., and Versatile Event Management.
The global events industry market is analyzed on the basis of type, revenue source, age group, distribution channel, and region. By type, the market is divided into synthetic wigs, human hair wigs, and animal hair wigs. By application, the market is divided into personal and commercial. By distribution channel, it is classified into specialty stores, department stores, online sales channel, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Spain, Germany, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Middle East, and the rest of LAMEA).
The impact of the COVID-19 outbreak had a negative effect on the growth of the global events industry market. The restrictions and lockdown resulted in the halting of organization of events and functions, gradually impacting the overall growth of the industry. However, a recovery of the events industry market is expected in the near future owing to the rise in demand for event services from various sectors on a global scale.
The primary driving force behind the expansion of the events industry market is the substantial increase in global event sponsorships. Prominent players from various industries have made significant investments in events, such as sporting competitions and concerts, as a strategic approach to promote and create awareness about their products and services. As an effort of sponsoring these events, companies aim to leverage the wide reach and engaged audience that such gatherings attract, which ultimately results in improved brand visibility, increased customer engagement, and potential business growth opportunities. This surge in sponsorships highlights the pivotal role events play in the modern business landscape, positioning them as a key driver of market growth and competitiveness. Event sponsorship has become a critical strategic investment for businesses who seek enhanced brand visibility and targeted marketing opportunities. Companies extend financial support to events or organizations through sponsorships, thereby gaining a valuable platform to promote their products to a wide consumer audience. This strategic approach effectively enhances product acceptance among different groups of customers. Moreover, the potential for tax deductions on sponsorship expenses serves as an added incentive for businesses to capitalize on these opportunities, which helps to optimize their returns on marketing investments. In addition, event sponsorship offers a wide range of benefits that facilitate the achievement of marketing, branding, and financial objectives for businesses. It also fosters brand loyalty and allows companies to better understand and cater to consumer preferences. Furthermore, events serve as effective tools to captivate the interest of both existing and potential customers, which thus leaves a positive impression that contributes to heightened brand loyalty.
Event organization involves substantial expenditure which consists of various cost factors that contribute to the overall operational outlay. These expenses comprise on-site fees, venue costs, food and catering expenditures, event rentals, entertainment expenses, and production costs. On-site expenses refer to charges levied by the event venue, which can significantly impact the overall budget of an event. The venue costs comprise multiple components such as security deposits, room rentals, insurance coverage, and parking fees. The food and catering component encompasses the expenses associated with furnishing beverages, meals, and server wages, in addition to other relevant costs. Furthermore, a notable outlay in event management pertains to production expenditures, which consists of the strategic coordination and administration of various logistical elements, as well as endeavors to attract attendees. Thus, these expenditures collectively impose a substantial financial burden on event organizers, posing a significant obstacle to the expansion of the global event industry market.
Online booking, phone calls, emails, and video conferences have made event planning cost-effective and easily accessible. This shift has expanded the customer base through creative digital means. Smartphones, desktop apps, and mobile apps have streamlined event organization, which thus makes it more efficient and manageable. Webinars and video conferences offer seamless event experiences and create lucrative opportunities for market expansion in forthcoming years. Technology has enabled event managers to handle logistics, registration, and ticketing processes with ease, which enhances attendee experiences and satisfaction throughout the event. Real-time communication tools improve team coordination and help in the reduction of errors. Data analytics allows for better customer engagement and personalization, which significantly allows the companies to increase their brand loyalty. The trend of online events is expected to grow, and it presents businesses with opportunities to reach global audiences and foster international collaborations, thus boosting the market growth.
The major players operating in the global events industry market are Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd., and Versatile Event Management.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the events industry market analysis from 2019 to 2032 to identify the prevailing events industry market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the events industry market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global events industry market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly update (only available with the purchase of an enterprise license)
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- Free report update, if the report is 6-12 months old or older.
- 24-hour priority response
- Free industry updates and white papers.
Key Market Segments
By Type
- Music Concert
- Festivals
- Sports
- Exhibitions and Conferences
- Corporate Events and Seminars
- Others
By Revenue Source
- Ticket Sale
- Sponsorship
- Others
By Organizer
- Corporate
- Sports
- Education
- Entertainment
- Others
By Age Group
- Below 20 Years
- 21-40 Years
- Above 40 Years
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Belgium
- Denmark
- Finland
- Poland
- Czehia
- Hungary
- Romania
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Singapore
- Indonesia
- Philippines
- Thailand
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- UAE
- Qatar
- Egypt
- Nigeria
- Rest of LAMEA
Key Market Players
- Access Destination Services, LLC
- Cvent Holding Corp.
- CL Events
- DRPG Group
- Anschutz Entertainment Group
- ATPI Ltd.
- Capita plc.
- Entertaining Asia
- BCD Group International BV
- Clarion Events Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: EVENTS INDUSTRY MARKET, BY TYPE
CHAPTER 5: EVENTS INDUSTRY MARKET, BY REVENUE SOURCE
CHAPTER 6: EVENTS INDUSTRY MARKET, BY ORGANIZER
CHAPTER 7: EVENTS INDUSTRY MARKET, BY AGE GROUP
CHAPTER 8: EVENTS INDUSTRY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the events industry market was valued at $1.1 trillion in 2019, and is estimated to reach $2.1 trillion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.An event is a public gathering organized with the intent of celebration, education, marketing, or fostering reunions. Events can be categorized based on their scale, nature, and context depending on the purpose of organizing them. Each type of event serves a distinct purpose and audience, catering to various social and professional needs.
The global events industry market is analyzed on the basis of type, revenue source, organizer, age group, and region. By type, the market is divided into music concerts, festivals, sports, exhibitions & conferences, corporate events & seminars, and others. By revenue source, the market is divided into ticket sale, sponsorship, and others. By organizer, it is classified into corporate, sports, education, entertainment, and others. By age group, it is categorized into below 20 years, 21-40 years, and above 40 years. Region wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, Netherlands, Sweden, Belgium, Denmark, Finland, Poland, Czechia, Hungary, Romania, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, Singapore, Indonesia, Philippines, Thailand, Malaysia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, UAE, Qatar, Egypt, Nigeria, and the rest of LAMEA).
The major factor which drives the growth of the events industry market is rise in interest among youth in entrepreneur & business seminars. In recent decades, global economies have been actively focused on unlocking the potential of young entrepreneurs and start-up ventures. In pursuit of increasing the number of entrepreneurs, various events, and programs, including seminars, conferences, entrepreneurship programs, and forums, have been meticulously organized to offer valuable guidance and solutions to aspiring young individuals. Governments and global organizations strategically invested in initiatives to promote exploration of untapped business opportunities and cultivate an entrepreneurial culture among students and young professionals, which helped boost the economies of their respective nations. The primary objective was to foster the development of the next generation of innovators and business leaders, which, in turn, stimulated economic growth and drove innovation across diverse industries. As a result, the number of attendees at business seminars and counseling programs increased, enabling youth to transform their innovative business ideas into viable plans in the past years. This growing interest among young people in conferences, seminars, and career-related events is expected to drive the demand for events worldwide, thereby fostering the growth of the events industry.
The event industry is characterized by fragmentation, with numerous small to medium-sized players and large enterprises operating within it. As a result, new entrants face significant challenges in establishing a foothold and thriving in the competitive market. The high infrastructure costs and intense competition in the European market act as substantial entry barriers for these newcomers. In addition, the expense associated with resource management, coupled with an economic slowdown in key European countries, is expected to diminish overall investment opportunities. These factors, when combined, may impede events industry market growth during the forecast period.
In recent years, pivotal technological strides including online booking systems, telecommunication, electronic mail, and video conferencing have precipitated a profound paradigm shift in customer communication and transactional dynamics. This transformation has yielded a dual impact of cost-effectiveness and real-time operational efficiencies. The domain of event management has consequently undergone a substantial metamorphosis in both strategic methodologies and overarching goals. Technology's pervasive influence has positioned it as a pivotal catalyst in steering the evolutionary trajectory of event management practices. Notably, it introduces groundbreaking avenues for engaging with a heterogeneous audience while concurrently facilitating an expansive augmentation of the events' customer constituency. Smartphones, desktop apps, and mobile apps have streamlined event processes, enabling better organization, management, and execution of tasks with minimal time and effort. Moreover, the digital evolution has facilitated the emergence of online events conducted through webinars and video conferences, which may offer lucrative opportunities for market expansion during the forecast period.
The major players analyzed for the global events industry market are Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd., and Versatile Event Management.
KEY FINDINGS OF THE STUDY
By type, the corporate events and seminars segment was the highest revenue contributor to the market, with $315.5 billion in 2022, and is estimated to reach $896.2 billion by 2032, with a CAGR of 11.7%.By revenue source, the sponsorship segment was the highest revenue contributor to the market, with $525.2 billion in 2022, and is estimated to reach $1512.1 billion by 2032, with a CAGR of 11.8%.
By organizer, the entertainment segment was the highest revenue contributor to the market, with $329.1 billion in 2022, and is estimated to reach $972.2 billion by 2032, with a CAGR of 12.0%.
Depending on the age group, the 21-40 years segment was the highest revenue contributor to the market, with $504.1 billion in 2022, and is estimated to reach $1467.1 billion by 2032, with a CAGR of 11.9%.
Region wise, Europe was the highest revenue contributor, accounting for $419.0 billion in 2022, and is estimated to reach $980.2 billion by 2032, with a CAGR of 10.0%.
Companies Mentioned
- Access Destination Services, LLC
- Cvent Holding Corp.
- CL Events
- DRPG Group
- Anschutz Entertainment Group
- ATPI Ltd.
- Capita plc.
- Entertaining Asia
- BCD Group International BV
- Clarion Events Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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