According to a new report published by Allied Market Research, titled, “Events Industry by Type, Revenue Source, Organizer and Age Group: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global events industry size was valued at $1,135.4 billion in 2019, and is projected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2030.
The term event refers to organizing a show which involves public gathering at a pre-determined place and time. The most popular events include conference & exhibition, corporate events & seminar, promotion & fundraising, music & art performance, sports, festival, trade shows, product launch, 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.
Request Sample Report at:https://www.alliedmarketresearch.com/request-sample/2422
Major determinants of the market growth
Rise in number of attendees at business seminars and counselling programs to convert novel business ideas into viable plans have boosted the growth of the global events industry. Moreover, surge in the globalization of business and increase in demand for non-traditional event spaces supplemented the market growth. However, presence of alternatives and higher entry barriers hinder the market growth. On the contrary, surge in infrastructural investment and technological upgradation such as projection mapping are expected to create lucrative opportunities for the market players in the future.
The music concert segment to manifest the highest CAGR through 2028
By type, the music concert segment is estimated to portray the highest CAGR of 13.1% during the forecast period, due to increase in popularity of such events among the global population, especially the youth and middle-aged individuals. However, the corporate events & seminar segment held the largest share in 2019, accounting for more than one-fourth of the global events industry, owing to rise in number of companies and frequent seminars & events conducted by them.
The entertainment segment held the lion’s share
By organizers, the entertainment segment dominated the market in 2019, contributing to more than one-fourth of the global events industry. In addition, the segment is estimated to manifest the highest CAGR of 12.4% during the forecast period, due to aggressive marketing and promotional activities conducted by the industry. The report also analyses the segments such as corporate, sports, education, and others.
Europe, followed by North America, held the largest share
By region, the market across Europe, followed by North America, held the largest share in 2019, accounting for more than one-third of the market, as the region has been extremely successful in winning conferences of international associations with over half of the top cities and countries selected as destinations for international association conferences. However, the global events industryacross Asia-Pacific is expected to register the highest CAGR of 13.3% from 2021 to 2028, owing to continuous sports leagues, digital activation, and ability to grow and adapt with innovative technology.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2422
Major market players
- Access Destination Services
- ATPI Ltd.
- BCD GROUP (BCD MEETINGS & EVENTS)
- Entertaining Asia
- Riviera Events
- StubHub
- Live Nation Worldwide Inc.
- Pollstar
- Anschutz Entertainment Group
- Capita Plc.
- Cvent Inc.
- Questex LLC
- Reed Exhibitions
- The Freeman Company
- Outback Concerts
- CL Events
- Penguins Limited
- Seven Events Ltd.
- Versatile Event Management
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.