Events Industry

Events Industry

Global Events Industry Market to Reach US$2.0 Trillion by 2030

The global market for Events Industry estimated at US$1.1 Trillion in the year 2023, is expected to reach US$2.0 Trillion by 2030, growing at a CAGR of 9.0% over the analysis period 2023-2030. Corporate Events & Seminars, one of the segments analyzed in the report, is expected to record a 10.3% CAGR and reach US$602.8 Billion by the end of the analysis period. Growth in the Sports Events segment is estimated at 8.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$290.7 Billion While China is Forecast to Grow at 12.6% CAGR

The Events Industry market in the U.S. is estimated at US$290.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$412.5 Billion by the year 2030 trailing a CAGR of 12.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.6% and 7.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.

Global Events Industry Market - Key Trends and Drivers Summarized

The events industry encompasses a wide range of activities and services aimed at organizing and managing public and private events, such as corporate meetings, conventions, exhibitions, special events, and celebrations. This sector thrives on the coordination of multiple components including event planning, venue selection, logistics, catering, entertainment, and technology integration. Over the years, the industry has evolved significantly, spurred by innovations in technology and shifts in consumer preferences. Digital tools like event management software, virtual reality (VR), and augmented reality (AR) are now commonly used to enhance attendee engagement and streamline the planning process. Moreover, sustainability has become a crucial consideration, with many companies adopting green practices such as waste reduction, recycling, and the use of sustainable materials to appeal to environmentally conscious consumers.

Economic impact is a significant aspect of the events industry, as it not only contributes directly to local economies through spending on venues, accommodations, and transportation but also indirectly boosts ancillary services such as tourism, retail, and hospitality. The global events market has witnessed substantial growth, particularly in emerging markets where rapid urbanization and increasing corporate activities have driven demand for large-scale professional events. Additionally, the cultural and creative sectors also heavily rely on events for promotion and income, leveraging festivals, concerts, and art shows to reach wider audiences. The COVID-19 pandemic, however, brought unprecedented challenges to this sector, forcing a pivot towards virtual and hybrid formats. This shift has opened new avenues for engagement and revenue, demonstrating the sector`s resilience and adaptability by integrating digital platforms to maintain connectivity and continuity in the face of global disruptions.

The growth in the events market is driven by several factors, including technological advancements, changing consumer behaviors, and the increasing value of face-to-face marketing in a digital world. Technology plays a pivotal role, with innovations such as AI for personalized experiences, machine learning for customer data analysis, and blockchain for secure ticketing and vendor payments enhancing the efficiency and security of events. Consumer behavior trends indicate a growing preference for unique and immersive experiences, pushing event planners to create more customized and interactive elements. Furthermore, the rise of the experience economy has encouraged corporations to invest in live events as a means to strengthen brand perception and customer loyalty. These drivers are crucial in understanding the ongoing evolution and dynamism within the events industry, highlighting its potential for continued growth and transformation.

Select Competitors (Total 43 Featured) -

• Access Destination Services
• ATPI Ltd.
• BCD Group
• Capita plc
• CL Events
• Clarion Events Limited
• Cvent Inc.
• DRP UK Ltd.
• Entertaining Asia Limited
• Eventbrite, Inc.
• Informa PLC
• Questex LLC
• Reed Exhibitions Ltd. (RX)
• Riviera Events
• StubHub, Inc.;

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