Event Logistics Market Analysis and Forecast to 2033: By Type (Inventory Management, Delivery Systems, Freight Forwarding, Others), Application (Entertainment and Media, Sports, Corporate Events and Trade Fairs, Others), and Region

Event Logistics Market Analysis and Forecast to 2033: By Type (Inventory Management, Delivery Systems, Freight Forwarding, Others), Application (Entertainment and Media, Sports, Corporate Events and Trade Fairs, Others), and Region

The global event logistics market was valued at USD 62.9 billion in 2023, and it is anticipated to grow up to USD 85.8 billion by 2033, at a CAGR of 3.1% during the forecast period.

Event logistics involve delivering, controlling, and planning the physical flow of goods. To meet customers’ requirements, accurate information is to be shared by the respective department about the events that have been held. Contracting firms are specialized in handling functions such as storage, warehousing, freight, and storage. The event logistics market consists of several types of events, including entertainment, sports, trade fairs, and other events, including cultural festivals, business conferences, and government-sponsored events.

Further, event organizers provide their clients with event logistics such as storage, event registration, and venue selection. Event logistics services aim to design an event with an efficient method of organizing and controlling all of the individuals participating and the resources required for the event.

Global Event Logistics Market Scope and Report Structure

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Market Drivers and Trends

With the growing industries worldwide, the events are also increasing daily. To organize daily events, event organizers need faster transport systems, such as on-time delivery or just-in-time delivery, to deliver goods quickly. Thus, the air freight services will help faster goods transportation with more safety. With the increasing demand for quick delivery, express shipping is trending nowadays. The express shipping option of air freight makes it valuable for coordinating time-sensitive shipments globally. Small and mid-sized companies benefit from air freight as it allows them to participate in trade shows expeditiously and effectively. Third-party logistics can determine the most reliable and cost-effective means of using air freight options to transport deliveries.

Further, due to the COVID-19 pandemic, there are travel restrictions across the globe. Hence, many airlines are converting their passenger aircraft into air cargo shipping aircraft. Thus, the demand for air freight services will also be high. Therefore, with the high preference for air freight services to other transportation modes, including road and sea, the demand for air freight services will be higher.

Market Restraints and Challenges

With the increase in demand for value-added services and specialized professional supply chain solutions in the event logistics market, the industry is becoming highly competitive in terms of the pricing of services. Vendors in the global event logistics market are under continuous pressure from customers to keep their prices low. Due to the instability of fuel prices, profits from fixed-term contracts with customers have been reduced. Customers are demanding lower rates while renewing contracts. Event organizers demand additional services at the same price; thus, companies face much pressure in pricing their services. The industry is characterized by its capital-intensive nature. The market requires a capital-intensive infrastructure: a large fleet of vehicles and containers at ports, technology-equipped warehouses that store different kinds of products used in events, and a skilled workforce. These types of logistics service providers must control their operational costs to compete in the market. Thus, small-sized event logistics companies that generate low revenue from their business operations break even because of high operating costs. Therefore, the high cost of operation and competitive pricing is also estimated to hamper the global event logistics market growth.

Global Event Logistics Market Segmental Overview

The report analyses the global event logistics market based on type, application, and region.

Global Event Logistics Market by Type

Based on type, it is segmented into inventory management, delivery systems, freight forwarding, and others. The freight forwarding segment was the largest segment in the event logistics market in 2023. Growth of the global freight forwarding services are propelling, owing to growth in international trade, expansion of the e-commerce industry globally, and rise in the free trade agreements between nations. Further, freight forwarders manage the risks and benefits of shipping both nationally and internationally by performing the required tasks such as freight rate negotiations, container tracking, customs documentation and freight consolidation. Due to these factors mentioned above, the freight forwarding segment is expected to hold a major market share in 2023.

Global Event Logistics Market by Application

Based on application, it is segmented into entertainment and media, sports, corporate events and trade fair, and others. The sports segment is expected to be the largest segment in the event logistics market in 2023, owing to the growth in global sports industry. The emergence of e-sports, rising sponsorships, and an increase in internet accessible devices will drive the growth of the sports industry. Thus, the sports segment will likely hold a major market share in 2023.

Geographical Analysis of Global Event Logistics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe held the majority of the market share in 2023. Rapid urbanization and the consequent rise in disposable income in developing European countries have increased mobile application adoption, which has offered lucrative opportunities for the European e-commerce sector with the rise in the number of trade events. European companies have innovated apps that are easy to use, while policy upgrades have attracted many customers. This, in turn, boosts the demand for event logistics in the European region.

Major Players in the Global Event Logistics Market

The key players studied in the global event logistics market are

AFP Global Logistics (US),

CEVA Logistics (France),

Charles Kendall Group (UK),

DHL International GmbH (Germany),

FedEx Corporation (US),

GEODIS (France),

Kuehne + Nagel Management AG (Switzerland),

Rhenus Group (Germany),

Schenker AG (Germany), and

XPO Logistics, Inc. (France).

COVID-19 Impact

In 2020, the onset of the COVID-19 pandemic and the lockdown resulted in the progression of online purchasing off balance, owing to restrictions on eligible items and limitations placed on physical movement, thereby directly impacting deliveries. Only essentials and medical supplies are being made available. In addition, people are not inclined to spend money beyond their necessities, which offers challenges and opportunities. Due to the COVID-19 pandemic, the e-commerce business faces new challenges in customer behavior, supply chain issues, and economic outlook. The COVID-19 pandemic shifted how consumers behave and carry out their activities, directly affecting the e-commerce industry. Limiting shopping, except for essentials, is becoming a new normal. This results in brands adapting and being flexible to meet changing needs. Hence, in 2020, the COVID-19 pandemic negatively impacted the global event logistics market.

Recent Developments

• April 2022, FedEx Corporation mentioned its logistics subsidiary had opened a new global headquarters in downtown Memphis, Tennessee.
• May 2023, FedEx Express announced its association with Reimagining Inclusion for Social Equity (RISE) 2023 as its official logistics partner. The event is Pride Circle’s annual flagship event, and India’s premier and biggest LGBT+ conference, job fair, and marketplace. The virtual event held on May 4-8, 2023, and hosted more than 1,000 changemakers, business leaders, organizations, students, diversity and inclusion professionals, advocates, and experts from around the world.
• March 2023, DHL Express joins Mumbai Indians as Principal Sponsor and Official Logistics Partner. This partnership with Mumbai Indians marks DHL Express first-ever cricket sponsorship, globally. The association with global brand like DHL Express highlights Mumbai Indians growing stature as a fast-emerging global sports club and preferred brand of choice.

Frequently Asked Questions

Q1.

How big is the event logistics market?

Ans.

The global event logistics market was valued at USD 62.9 billion in 2023, and it is anticipated to grow up to USD 85.8 billion by 2033, at a CAGR of 3.1% during the forecast period.

Q2.

What is the event logistics market growth rate?

Ans.

The growth rate of the event logistics market is 3.1% from 2024 to 2033.

Q3.

Which
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region holds a major market share for the event logistics market?

Ans.

Europe holds a major market share of the event logistics market in 2023.

Q4.

Which segment accounted for the largest event logistics market share?

Ans.

Based on type, it is segmented into inventory management, delivery systems, freight forwarding, and others. The freight forwarding segment is expected to be the largest segment in the event logistics market in 2023.

Q5.

Who are the key players in the event logistics market?

Ans.

The global event logistics market report includes players such as
AFP Global Logistics (US),

CEVA Logistics (France),

Charles Kendall Group (UK),

DHL International GmbH (Germany),

FedEx Corporation (US),

GEODIS (France),

Kuehne + Nagel Management AG (Switzerland),

Rhenus Group (Germany),

Schenker AG (Germany), and

XPO Logistics, Inc. (France).

Q6.

What are the factors driving the event logistics market growth?

Ans.

The major factor driving the growth of the market is the high demand for air freight services globally.

Q7.

What are the key growth strategies of event logistics market players?

Ans.

The key growth strategies of event logistics market players are product launch, partnerships, and government initiatives.

Q8.

Which
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region will provide more business opportunities for the event logistics market during the forecast period?

Ans.

The Asia Pacific region will provide more business opportunities for the event logistics market during the forecast period.

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