Saudi Arabia Event Management as a Service Market report thoroughly covers market by End Users. Saudi Arabia Event Management as a Service Market outlook report provides an unbiased and detailed analysis of the on-going Saudi Arabia Event Management as a Service Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Event Management as a Service Market Synopsis
Saudi Arabia Event Management as a Service Market grew considerably during 2018-2019 owing to the rising number of music festivals, public events, wedding planning, birthday parties, fundraising events and conferences among others in the kingdom. However, covid 19 resulted in drop in market revenues for the year 2020 owing to the suspension and restriction of public gatherings to curb the spread of virus. However, steady growth is expected in the forecast period as Saudi Arabia has been working hard to create a one-of-a-kind and world-class entertainment hub that includes innovative, cultural or historical attractions, and mega sporting events, which is expected to create more growth opportunities for the event management as a service market. Furthermore, the hospitality industry has seen several major development announcements, such as Al Qiddiya's master plan in Riyadh, which aims to project the city's position as the 'Capital of Entertainment, Sports, and the Arts,' as well as the Red Sea and Amaala projects, which will further propel the market.
According to the publisher, Saudi Arabia Event Management As A Service Market size is projected to grow at a CAGR of 8.3% during 2022-2030. Saudi Arabia intends to transform Riyadh into a major global city economy by 2030 and hopes to attract a similar level of private sector investment as the kingdom continues to diversify its economy and raise non-oil earnings. According to media sources, approximately three million square metres of new office space, as well as more than 12,000 hotel rooms, are being developed in the capital with an estimated cost of $63 billion. Hence, with an increasing corporate and hospitality sector demand for business and luxury events is expected to rise, strengthening the event management service market, particularly in the corporate and individual sectors.
Event Management as a Service Market by End Users Analysis
Within End Users, Corporate sector acquired more than 62% of the Saudi Arabia Event Management as a Service market share in terms of revenue in 2021 due to the rising number of exhibitions, seminars and product launches events in the country and the same trend is expected in the upcoming years as well. In addition, the demand for business gatherings and networking events is also driving the corporate event management service market in the Saudi Arabia.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2018 to 20230.
- Base Year: 2021
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
Key Highlights of the Report
- Saudi Arabia Event Management as a Service Market Overview
- Saudi Arabia Event Management as a Service Market Forecast
- Saudi Arabia Event Management as a Service Market Outlook
- Saudi Arabia Event Management as a Service Market Revenues, for the Period 2018-2030F
- Historical Data and Forecast of Saudi Arabia Event Management as a Service Market Revenues, By End Users, for the Period 2018-2028F
- Industry Life Cycle
- Porter’s Five Forces
- Market Drivers and Restraints
- Market Trends
- Competitive Benchmarking
- Key Strategic Recommendations
- Market Ranking, By Companies
Market Covered
The report provides a detailed analysis of the following market segments:
By End Users:
- Corporate
- Individual
- Public
Table of Contents
1. Executive Summary
Companies Mentioned
- SoundKraft LLC
- Global Event Management
- AK Events
- Alpha Conferences & Exhibitions
- Masaahaat
- Addenterprise
- Eventech
- G-Expo
