Events Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Event Type (Virtual, Hybrid, and Physical), Revenue Source (Ticket Sale, Sponsorship, and Others), Type (Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Event

Events Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Event Type (Virtual, Hybrid, and Physical), Revenue Source (Ticket Sale, Sponsorship, and Others), Type (Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others), Organizer (Corporate, Sports, Education, Entertainment, Association, and Others), Application (B2B and B2C), and Enterprise Size (Small and Medium Enterprises and Large Enterprises)

The global Events market share is expected to grow from US$ 958.54 billion in 2021 to US$ 1,965.99 billion by 2028. Events market size is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

Entrepreneurship education for secondary and post-secondary students has a beneficial impact on entrepreneurial skills and goals, but it is unclear if this translates into long-term entrepreneurial engagement or revenue. A few comprehensive reviews in this domain in developing countries imply that secondary/tertiary entrepreneurship education impacts entrepreneurial ambitions, mentality, and abilities. For example, in Tunisia, university-based entrepreneurship programs raised entrepreneurial intention, mentality, skills, and self-employment rates in the near term, but these effects dissipated four years later, owing to financial restrictions.

Due to a shortage of job opportunities, many young people turn to entrepreneurship, particularly in developing countries. However, they may not necessarily be in entrepreneurial positions. Youth, families, and communities are more interested in developing programs that include skills training that may be used after the project ends. Access to financing is essential for young entrepreneurs who want to start or develop their firms. Unfortunately, many young individuals have the least ready access to funds. Access to money differs not only across countries but also between communities.

According to the Organization for Economic Co-operation and Development, startups are the key drivers of the economy, employing about 50% of the workforce at any given time, even though they are about 20% of the total companies in a country. As a result, development programs must carefully consider how to assist young people in effectively obtaining the finances they want. This entails a detailed examination of various financial models and the development of goods customized according to the demand of users.

North America has the highest rate of advanced technology adoption due to favorable government policies fostering innovation and enhancing infrastructural abilities. As a result, every factor affecting the region's industrial performance obstructs its economic development. The US became one of the world's worst-affected countries by the pandemic, causing governments to impose several limitations on industrial, commercial, and public activities in the country to contain the disease's spread.

According to the Center for Strategic and International Studies, the US experienced a contraction in GDP due to the pandemic. There has been a decline in overall business activities in various industries operating in the region, affecting the revenue of key market players. The business shutdowns, cancellation and postponement of events, various sporting events, exhibitions, prominent festivals, concerts, and weddings across the US, Canada, and Mexico, negatively impacted the events market in 2020. However, in the coming years, the virtual events market software segment is expected to foresee significant growth opportunities due to the rising demand for digital content and live streaming.

The COVID-19 pandemic massively affected Asia Pacific (APAC), with a significantly high number of cases in India and China. China is the most crucial manufacturer and industrial producer and trades most manufacturing goods. It is also a world leader in several types of goods. According to the Organization for Economic Co-operation and Development (OECD), the other major economies, such as South Korea, India, Australia, and Japan, have also been impacted by the pandemic and are experiencing downward growth. The mobility restrictions and cancellation/postponement of various business conferences and events due to the COVID-19 outbreak affected the overall market in this region. Since firms started working from home, the demand for software solutions mounted gradually, even during the breakdown. Thus, this disruption negatively affected the market growth. However, the work from home facilities across industries is anticipated to create demand for virtual event software during the forecast period.

With the advent of virtual events, planners have expanded their reach and scaled their events to a larger audience. Live translation as part of an event package may give virtual and physical event venues a competitive advantage. Businesses will also be able to collaborate with event planners in places they would not ordinarily go. For instance, Hopin, an event technology platform, has partnered with Interprefy to provide real-time language interpretation straight within their live feeds. QR codes look well on tangible marketing materials, such as event posters, speaker business cards, and postcards for event ticket leads. To close the purchase, they will need a solid landing page; thus, event planners will have to rely on this technology even more than before.

QR codes may also be used to keep track of event registrations. Event venues may add QR codes to their safety arsenal as yet another touch and germ-free means to link planners with attendees according to current health rules. For example, EventNook worked with Singapore Management University to employ QR codes for event registration and ticketing. Thus, continuous advancements in event management are likely to provide lucrative opportunities for the events market growth during the forecasted period.

Events market analysis by event type, the events market is segmented into virtual, hybrid, and physical. Events market analysis by application, the market is segmented into B2B and B2C. Events market analysis by enterprise size, the market is segmented into small and medium enterprises and large enterprises. Based on revenue sources, the events market is segmented into ticket sale, sponsorship, and others. Based on organizer, the market is segmented into corporate, sports, education, entertainment, and others. Based on type, the market is segmented into music concert, festivals, sports, exhibitions and conferences, corporate events and seminars, and others. Based on geography, the global events market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Access Destination Services; Anschutz Entertainment Group; ATPI Ltd.; BCD Meetings & Events; Cvent Inc.; Entertaining Asia; Live Nation Worldwide, Inc.; Pollstar; Riviera Events; and StubHub. are a few key companies operating in the Events market. The report comprises secondary research work on other companies that hold a significant market share.

The overall events market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Events market. The process also serves the purpose of obtaining an overview and forecast for the Events market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the Events market. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the events market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Events Market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Global Events Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

The List of Companies - Events Market

1. Access Destination Services
2. Anschutz Entertainment Group
3. ATPI Ltd.
4. BCD Meetings & Events
5. Cvent Inc.
6. Entertaining Asia
7. Live Nation Worldwide, Inc.
8. Pollstar
9. Riviera Events
10. StubHub