According to a new report, “Europe Events Market by Service (Strategy, Planning, Budget And Development, Communication And Logistics, Attendees Management And Engagement, Event Catering, Virtual Or Hybrid Event Enabler, Personnel Services, Location Rental, Furniture/Equipment/Music Service Rentals, Team Building/Experience Providers), by Type (Meeting And Conference, Seminars, Exhibition, Incentive, Others), by Smes (Small And Medium Enterprises, Large Enterprises), : Opportunity Analysis and Industry Forecast, 2020-2030″ The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. The europe events industry market was valued at $31.4 billion in 2020, and is estimated to reach $123.9 billion by 2030, growing at a CAGR of 8.7% from 2021 to 2030.
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Trade shows are a crucial part of marketing strategies, as they allow brands to present their products, target customers, and find new business partners. In the recent years, there has been continuous increase in the popularity of trade shows, hence, they are mostly organized on huge venues. Furthermore, grand ceremonies include conferences and corporate galas. In team-building events, the major aim is to build a strong relationship and trust among the team members. Furthermore, induction programs are held in the beginning of the month the most common start date for newly hired employees.
Therefore, the corporate sector offers various opportunities for the event management companies to organize events, contributing to huge revenue generation, which, in turn, augments the growth of the Europe events market. The growth of the events industry is majorly driven by upsurge in frequency of corporate meetings, conferences, tradeshows/exhibitions, and other events.
As per the Europe events market trends, based on the type, the meeting and conference segment dominated the market in 2020. Event companies and service providers are recognizing the impact of business meetings on revenue and brand. The incentive is estimated to be the fastest-growing segment. Incentive programs event companies in the Europe are increasing their focus on providing their incentive travelers with complete designed packages and deals for enhancing the experience of travelers.
Based on the SMEs, the small and medium enterprises segment was the leading segment, garnering a market share of 74.0% in 2020. The huge presence of the small and medium sized enterprises and the increased volume of corporate events conducted by them has propelled the growth of this segment. Small and medium enterprises are said to be the backbone of the European economy.
According to the Europe events market forecast, based on the service, the virtual or hybrid event enabler segment is expected to grow at a highest CAGR of 10.9% from 2021 to 2030. This growth is attributable to the surging adoption of the ICT technologies among the event planners and the corporate houses in Europe. Moreover, the COVID-19 pandemic is the major factor behind the rapid growth of this segment. In 2020, the location rental segment dominated the market, garnering a market share of 31.3%.
The major players profiled in the report are Compass Group PLC, Dorier Group, Elior Group, Europa International, Event Security Management Ltd., Intelligent (UK Holdings) Limited, London Filmed, Martin Audio Ltd, The Creative Engagement Group, and Titan Security Europe.
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Key findings of the study:
○ The Europe events market size was valued at $31,425.0 million in 2020, and is estimated to reach $123,851.6 million by 2030, growing at a CAGR of 8.7% during the forecast period.
○ By service, the virtual or hybrid event enabler segment is estimated to witness the fastest growth, registering a CAGR of 10.9% during the forecast period.
○ In 2020, depending on the type, the meeting and conference segment was valued at $10,430.4 million, accounting for 33.1% of the Europe events market share.
○ In 2020, the UK was the most prominent market in Europe, and is projected to reach $34,789.9 million by 2030, growing at a CAGR of 8.8% during the forecast period.
Reason to Buy:
○ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Europe Events market.
○ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
○ The key findings and recommendations highlight crucial progressive industry trends in the Europe Events Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
○ 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 restraining the growth to a certain extent.
○ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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