openPR Logo
Press release

At 7.6% CAGR Event Services Market to Reach $1,349.00 Billion, Globally, by 2031

06-23-2022 10:37 AM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

At 7.6% CAGR Event Services Market to Reach $1,349.00 Billion,

According to a new report published by Allied Market Research, titled, "Event Services Market," The event services market size was valued at $515.80 billion in 2021, and is estimated to reach $1,349.00 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.

Prime determinants of growth

Massive increase in business activities such as conference/seminar, brand promotions, employee training activities, development in the tourism & hospitability sectors, and growth in IT hubs across the globe drive the growth of the global event services market. Moreover, surge in business activities fuel the demand for the services of event planners, personnel service providers, and furniture & equipment rental services, which presents new opportunities in the coming years.

Request Sample Report @https://www.alliedmarketresearch.com/request-sample/16575

Venue and catering are two most expensive components in the event services industry. Location of the event and food & beverages served during event significantly influence the success of the event. Surge in penetration of the digital technologies, owing to the presence of developed IT and telecommunications infrastructure contributes toward the growth of the market. Proliferation of digital technologies drives the growth of the hybrid events across the globe.

The location rental segment to maintain its leadership status throughout the forecast period

Based on service, the location rental segment held the highest market share in 2021, accounting for nearly one-third of the global event services market, and is estimated to maintain its leadership status throughout the forecast period. However, the virtual or hybrid event enabler segment is projected to manifest the highest CAGR of 9.8% from 2022 to 2031.This is attributable to surge in adoption of the ICT technologies among the event planners and the corporate houses across the globe.

The entertainment segment to maintain its lead position during the forecast period

Based on end user, the entertainment segment accounted for the largest share in 2021, contributing to more than one-fourth of the global event services market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 8.6% from 2022 to 2031, due to growth in the entertainment industry and rise in consumer expenditure on the entertainment. The report also analyzes segments such as corporate, sports, education, and others.

For Purchase Enquiry @https://www.alliedmarketresearch.com/purchase-enquiry/16575

Europe to maintain its dominance by 2031

Based on region, Europe held the highest market share in terms of revenue 2021, accounting for more than one-third of the global event services market. This is owing to the fact that this 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 LAMEA region is expected to witness the fastest CAGR of 9.9% from 2022 to 2031.

Key findings of the study

As per the event services market forecast, the global event services market was valued at $515.8 billion in 2021, and is projected to reach $1,349.0 billion by 2031, registering a CAGR of 7.6% from 2022 to 2031.

By service, the location rental segment was the highest contributor to the market, with $159.7 billion in 2021, and is estimated to reach $4395.7 billion by 2031, at a CAGR of 7.0% during the forecast period.

By event type, the corporate events and seminars segment was the highest contributor to the market, with $142.8 billion in 2021, and is estimated to reach $393.6 billion by 2031, at a CAGR of 8.2% during the forecast period.

By end user, the entertainment segment was the highest contributor to the market, with $149.0 billion in 2021, and is estimated to reach $428.3 billion by 2031, at a CAGR of 8.6% during the forecast period.

By organization, the small and medium enterprises segment was the highest contributor to the market, with $355.7 billion in 2021, and is estimated to reach $904.2 billion by 2031, at a CAGR of 7.3% during the forecast period.

By region, Europe was the highest revenue contributor, accounting for $184.8 billion in 2021, and is estimated to reach $408.6 billion by 2031, with a CAGR of 5.8%.
Leading Market Players: -

Basset Events, Inc.
wonderland
Access Destination Services
BCD Group
ATPI Ltd.
StubHub
FX Group Ltd.
Martin Audio Ltd.
International Security Agency
Intelligent Protection International Limited

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release At 7.6% CAGR Event Services Market to Reach $1,349.00 Billion, Globally, by 2031 here

News-ID: 2660319 • Views: 318

More Releases from Allied Market Research

In Vitro Toxicity Testing Market Expected to Reach $58.9 Billion by 2030
In vitro toxicity testing market size is expected to witness notable growth in the coming years due to the advantages offered by IVTT, such as enhanced accuracy, efficiency, and reliability as compared to other traditional methods. Furthermore, increase in applications of IVTT in food and chemical industries, are the in vitro toxicity testing market trends. Moreover, stringent government regulations aimed at reducing the cruelty while performing experiment on animals, increase
Surgical Navigation Systems Market by Technology, Application, End User, Size, S …
Allied Market Research (USA, Oregon, Portland) Published Latest Report titled, 'Surgical Navigation Systems Market: Global Opportunity Analysis and Industry Forecast 2022-2030'. This market research study determines the increase in changes and the aspects which are likely to have an impact on the growth of the Surgical Navigation Systems Market. Increased demand for the technologies is also one of the factors, which are likely to boost the growth of this industry. The
mHealth Market in Asia-Pacific to reach $14.4 Billion, by 2020
Asia Pacific mHealth market is estimated to register a high CAGR of 35.8% during the forecast period of 2015-2020, according to a new report published by Allied Market Research. In 2014, blood pressure monitors, blood glucose monitors and cardiac monitors collectively accounted over two-thirds share in the Asia-Pacific mHealth device marketand would continue to dominate throughout the forecast period. China was the largest country market in the Asia Pacific region
IVD Market Growth Analysis, Opportunities, Revenue and Forecast 2030
Allied Market Research (USA, Oregon, Portland) Published Latest Report titled, 'IVD Market: Global Opportunity Analysis and Industry Forecast 2021-2030'. This market research study determines the increase in changes and the aspects which are likely to have an impact on the growth of the IVD Market . Increased demand for the technologies is also one of the factors, which are likely to boost the growth of this industry. The market research study

All 5 Releases


More Releases for CAGR

Catalase Market : Research Observes Strong CAGR Development
The "Global Catalase Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024", report intends to offer a resourceful means to assess the Catalase Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Catalase Market report, titled Catalase Market, is expansive research
Citicoline Market | CAGR of 14.4%
The global Citicoline Market 2020 Report provides fine intelligence that helps market players to compete well against the tough competition on the basis of growth, sales and other various important factors. The research report lays stress on key growth opportunities and market trends apart from important market dynamics including market drivers and challenges. With the help of this report, involved parties can equip themselves to adapt along with the changes
Footwear Market : Research Observes Strong CAGR Development
The "Global Footwear Market Set for Rapid Growth, to Reach Around USD 320.44 Billion by 2023", report intends to offer a resourceful means to assess the Footwear Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Footwear Market report, titled Footwear Market, is expansive research
Xanthates Market CAGR to Grow at 4.7%
Persistence Market Research in its latest report projects that the global xanthates market will grow at a CAGR of 6.1% over the forecast period (2017-2025). Owing to Xanthates’ excellent mineral ore processing capabilities, its global sales have witnessed a significant rise in recent years. Mining complexity and declining ore quality have led to a major increase in demand for specialty chemicals to process ores. Towards the end of 2025, around
Global Serious Games Market Show 19.2% CAGR
A new report added by Allied Market Research, forecast that the global serious games market was valued at $2,731 million in 2016, and is projected to reach $9,167 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023. The consumers segment is anticipated to grow at the highest rate during the forecast period. Asia-Pacific generated the highest revenue in the global serious games market in 2016 due to
Bioinsecticides market expecting CAGR 5.4%
Reports And Markets Publish a New Market Research Report On –"Bioinsecticides market- Growth, Trends, Forecast for the period (2017 - 2022)" Access Full Report With Table Of Contents @ https://www.reportsandmarkets.com/reports/1071910-global-bioinsecticides-market-growth-trends-forecast-for-the-period-2017-2022 Pesticides constitute the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share. Global consumption of synthetic insecticides is projected to reach 833.32 thousand tons by volume and USD 19.6 billion by value by 2020