Events Industry Market outlook
According to the report by Expert Market Research (EMR), the global events industry market size reached a value of USD 1428.83 billion in 2023. Aided by the increasing demand for corporate and social events, coupled with the growing importance of experiential marketing, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032 to reach a value of USD 2,230.8 billion by 2032.
The events industry encompasses a wide range of activities, including corporate events, conferences, exhibitions, trade shows, concerts, festivals, and social gatherings. This sector plays a crucial role in marketing, networking, and entertainment, providing platforms for business development, knowledge exchange, and cultural celebration.
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The increasing emphasis on experiential marketing is one of the key factors driving the events industry market growth. Businesses are recognising the value of creating immersive experiences for their customers and stakeholders, leading to a surge in demand for innovative and interactive events. Additionally, the rise of digital and social media platforms has amplified the reach and impact of events, enabling organisers to engage with a global audience.
The corporate events segment, which includes conferences, trade shows, and business meetings, is a significant contributor to the market’s growth. Companies invest in these events to foster industry connections, showcase products and services, and drive business growth. The expanding global economy and the rise in international business collaborations are further propelling the events industry market development.
The entertainment and cultural events segment, including concerts, festivals, and sports events, is also experiencing substantial growth. The increasing disposable income and the desire for leisure and entertainment activities are driving consumer spending on such events. Moreover, the growing popularity of live music and the rise of global sports events are contributing to the expansion of this segment.
North America and Europe are leading regions in the events industry market, driven by the presence of major corporations, advanced infrastructure, and a strong focus on marketing and networking events. The United States, United Kingdom, Germany, and France are notable contributors to the market in these regions.
The Asia Pacific region is witnessing rapid growth in the events sector, fuelled by economic development, increasing urbanisation, and the rising middle-class population. Countries such as China, India, Japan, and Australia are key markets in this region, with a growing number of international events being hosted.
Moreover, Latin America and the Middle East and Africa are emerging markets for the events sector, with increasing investments in tourism, infrastructure, and cultural events. The growing focus on international trade and cultural exchange is driving the demand for events in these regions.
Moreover, the market players are adopting various strategies, such as mergers and acquisitions, partnerships, and technological innovations, to enhance their market presence and offer unique and engaging event experiences, consequently driving up the events industry market share.
Events Industry Market Segmentation
The market can be divided based on event type, revenue source, and region
Market Breakup by Event Type
- Music Events
- Festivals and Cultural Events
- Sports Events
- Exhibitions and Trade Fairs
- Corporate Events and Seminars
Market Breakup by Revenue Source
- Ticket Sales
- Organisers
- Sponsorship
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global events industry market. Some of the major players explored in the report by expert market research are as follows:
- ATPI Ltd.
- Triumph Group International S.P.A. Benefit Company
- Reed Exhibitions Limited
- GL events Group
- BCD Meetings & Events
- Anschutz Entertainment Group, Inc.
- ASM Global
- CTS EVENTIM AG & Co. KGaA
- Clarion Events Ltd.
- Cvent Inc.
- Others
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