Events Industry Market 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)

Events Industry Market 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): Global Opportunity Analysis and Industry Forecast, 2023-2032

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.

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.

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

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