Europe Events Market Valuation Worth $123.9 billion by 2030, At 8.7% CAGR - Report by AMR

According to a new report published by Allied Market Research, titled, " According to a new report published by Allied Market Research, titled, Europe Events Market by Service, by Type, by Smes: Opportunity Analysis and Industry Forecast, 2020-2030".

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. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.

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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. Furthermore, the presence of developed infrastructure and increased adoption of advanced technology in Europe has fueled the growth of the Europe events industry.

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%.

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.

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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.

The Europe events market is highly fragmented owing to the presence of numerous players in the market. These market players are constantly engaged in various developmental strategies such as acquisition, mergers, partnership, business expansion, and new product launches, which increases the intensity of competitive rivalry in Europe and helps them to exploit Europe events market opportunity.

The outbreak of the COVID-19 pandemic has adversely impacted the Europe events market in 2020. The lockdown measures implemented by the government in an attempt to curb the spread of the virus led to cancellation of almost all the exhibitions, in-person meetings, trade shows, conventions, and seminars.

Moreover, a rapid decline in the international tourist arrivals in Europe during the pandemic further led to the decline of the events industry in Europe. Europe is among the top global destinations for hosting corporate events.

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 Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the europe events market analysis from 2020 to 2030 to identify the prevailing europe events market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the europe events market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the regional market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as regional europe events market trends, key players, market segments, application areas, and market growth strategies.

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