Event Pro-Av Services Market By Type (Corporate, Entertainment, Public, Others), By Platform Type (Virtual Event, Hybrid Event, Physical Event), By Category (Sound, Visuals, Lighting, Webcasting, Others): Global Opportunity Analysis and Industry Forecast,

Event Pro-Av Services Market By Type (Corporate, Entertainment, Public, Others), By Platform Type (Virtual Event, Hybrid Event, Physical Event), By Category (Sound, Visuals, Lighting, Webcasting, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global event pro-AV services market size was valued at $28,633.2 million in 2021 and is projected to reach $56,853.4 million by 2031, registering a CAGR of 7.1%. 

The term event pro-AV services refer to organizing a show which involves a public gathering at a pre-determined place and time. The most popular events include conferences & exhibitions, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, product launches, and similar others. The initial stage of a major event involves understanding the audience and their behavior that excite and emotionally engage them. The final stage involves conducting an event appropriately. 

The growth of the event pro-AV services market is driven by surge in the frequency of conducting corporate meetings, inductions, conferences, and exhibitions. Furthermore, the deployment of best-in-class technology that can handle an entire event propels industry growth. Moreover, multi-dimensional events act as a key driver for the growth of the event pro-av services market. 

Moreover, the introduction of new media platforms and distribution methods offers scope for giants to interact and organize events involving artists, performers, speakers, and business coaches. However, the surge in market entry cost and rise in industry fragmentation hinders the growth of the industry. In general, events are activities that involve attendees who share a common interest and gather together for discussions and interactions. The venue for such events needs to be arranged beforehand, as venues provide the space and facilities necessary to meet the needs of those who attend the gathering. 

Growth of the global event pro-AV services market is driven by the surge in the frequency of conducting corporate meetings, inductions, conferences, exhibitions, music concerts, and sports events. Furthermore, the deployment of best-in-class technology that can handle the entire event propels industry growth. Moreover, multi-dimensional events act as a key driver for the growth of the global event services market. In addition, sponsorships from various brands, including Redbull, Monster Energy, Nike, Cocoa Cola, and others for a global three-day festival and a small gig or act in a social club or arena boost the market growth. Moreover, the introduction of new media platforms and distribution methods offers scope for giants to interact and organize events involving artists, performers, speakers, and business coaches. However, surge in market entry cost and rise in industry fragmentation hinders the growth of the industry. 

The event pro-AV services market is segmented on the basis of type, platform type, category, and region. On the basis of type, the market is categorized into corporate, entertainment, public, and others. According to platform type, the event pro-av services market is fragmented into the physical event, virtual event, and hybrid event. As per category, the market is divided into sound, visuals, lighting, webcasting, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, Singapore and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Rest of LAMEA). 

By type, the entertainment segment dominated the market in 2021, garnering a market share of 40.1%. The market for event pro-av services is expected to expand in this sector due to the vast range of services offered by the entertainment industry. Future customer attendance at athletic events and concerts is anticipated to increase, which will fuel the segment's expansion. Club festivals, which include international music specialists and music conferences, are moreover a part of the entertainment industry. Events that provide entertainment include gatherings like parties and business conferences. These gatherings draw speakers and artists from around the world who want to network and exchange ideas. Speakers include corporate leaders, producers, artists, and entrepreneurs. The primary goals of these events are to motivate, instruct, and exciting professionals in the electronic music industry while simultaneously sparking discussions on cutting-edge technology, social responsibility, and environmental issues.

Depending on the category, the sound segment dominated the market in 2021, garnering 41.7% of the market share and the webcasting segment is expected to grow at the highest CAGR of 6.6% from 2022 to 2031. This expansion was attributed to the quick uptake of AV technologies by businesses and event organizers all around the world. The COVID-19 pandemic is also the main driver of this market's fast growth. Additionally, speakers, audio controls, and transmitters can address huge crowds. These tools are essential for important events since they improve communication and are particularly helpful in settings like auditoriums, stadiums, and outdoor theatres. Sound equipment is one of the crucial components used to raise the standard of events. 

By platform type, the physical event segment dominated the market in 2021, garnering a market share of 57.5%. Moreover, since there is already a substantial corpus of methods and processes for executing physical activities, they are the most often held events. These events are essential for team building, networking, team building exercises, team exchanges, and team strengthening activities which are likely to boost the growth of the market.

The major players profiled in the report are Audio Visual Dynamics, Av Concepts, Inc., DSPAV, Event Solutions, Freeman Company, LLC, Meeting Tomorrow, Panavid, Inc., Pro AV Services LLC, Shepard Exposition Services, Inc., and Viad Corp, Event pro audio visual, WRG, Black box, AVP, ProAv, Velocis, Digital vision Av, Awesome Av, BI Worldwide, FCM, The events company, Creative Group, IBTM World, Meetings and Incentives Worldwide, Inc, Wyrestrom. 

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the event pro-av services market analysis from 2021 to 2031 to identify the prevailing event pro-av services 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 event pro-av services 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 event pro-av services market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Entertainment
Sub Type
Music Concert
Sports
Others
Public
Others
Corporate
Sub Type
Conference/Seminars
Trade shows/Exhibitions
Incentive programs
Meetings
Others

By Platform Type

Virtual Event
Hybrid Event
Physical Event

By Category

Visuals
Lighting
Webcasting
Others
Sound

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA

Key Market Players

Shepard Exposition Services, Inc
Meeting Tomorrow
EventPro Solutions Ltd
WRG
Velocis Systems Pvt. Ltd.
Audio Visual Dynamics
AV Concepts, Inc.,
DSPAV
Event Solutions
Freeman Company, LLC
Panavid, Inc
Pro AV Services, LLC
Viad Corp
Black Box
Advanced Visual Production
ProAv Limited
Digital vision Av
Awesome Group
BI WORLDWIDE
FCM
The Event Company
Creative Group, Inc.
IBTM World
Meetings and Incentives Worldwide, Inc
WyreStorm

Please Note: It will take 7-10 business days to complete the report upon order confirmation.