Event Logistics Market to grow up to US$ 81.2 billion by 2031, at a CAGR of 3.3%

New York, The global event logistics market was valued at US$ 58.3 billion in 2021 and it is anticipated to grow up to US$ 81.2 billion by 2031, at a CAGR of 3.3% during the forecast period.

Global Event Logistics Market report from Global Insight Services is the single authoritative source of intelligence on Event Logistics Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Event logistics involve delivering, controlling, and planning the physical flow of goods. To meet customers' requirements, accurate information is to be shared by the respective department about the events that have been held. Contracting firms are specialized in handling functions such as storage, warehousing, freight, and storage. The event logistics market consists of several types of events, including entertainment, sports, trade fairs, and other events, including cultural festivals, business conferences, and government-sponsored events.

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Market Drivers and Trends
With the growing industries worldwide, the events are also increasing daily. To organize daily events, event organizers need faster transport systems, such as on-time delivery or just-in-time delivery, to deliver goods quickly. Thus, the air freight services will help faster goods transportation with more safety. With the increasing demand for quick delivery, express shipping is trending nowadays. The express shipping option of air freight makes it valuable for coordinating time-sensitive shipments globally. Small and mid-sized companies benefit from air freight as it allows them to participate in trade shows expeditiously and effectively. Third-party logistics can determine the most reliable and cost-effective means of using air freight options to transport deliveries.

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Global Event Logistics Market Segmental Overview
The report analyses the global event logistics market based on type, application, and region.

Global Event Logistics Market by Type

Based on type, it is segmented into inventory management, delivery systems, freight forwarding, and others. The freight forwarding segment is expected to be the largest segment in the event logistics market in 2021. Growth of the global freight forwarding services are propelling, owing to growth in international trade, expansion of the e-commerce industry globally, and rise in the free trade agreements between nations. Further, freight forwarders manage the risks and benefits of shipping both nationally and internationally by performing the required tasks such as freight rate negotiations, container tracking, customs documentation and freight consolidation. Due to these factors mentioned above, the freight forwarding segment is expected to hold a major market share in 2021.

Global Event Logistics Market by Application

Based on application, it is segmented into entertainment and media, sports, corporate events and trade fair, and others. The sports segment is expected to be the largest segment in the event logistics market in 2021 owing to the growth in global sports industry. Emergence of e-sports, rising sponsorships, and increase in internet accessible devices will drive the growth of sports industry. Thus, the sports segment will likely hold a major market share in 2021.

Geographical Analysis of Global Event Logistics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe market is expected to hold the majority of the market share in 2021. Rapid urbanization and consequent rise in disposable income in developing European countries have increased mobile application adoption, which has offered lucrative opportunities for the Europe e-commerce sector with the rise in the number of trade events. European companies have innovated apps that are easy to use, while policy upgrades have attracted many customers. This, in turn, boosts the demand for event logistics in the Europe region.

Major Players in the Global Event Logistics Market
The key players studied in the global event logistics market are AFP Global Logistics (US), CEVA Logistics (France), Charles Kendall Group (UK), DHL International GmbH (Germany), FedEx Corporation (US), GEODIS (France), Kuehne + Nagel Management AG (Switzerland), Rhenus Group (Germany), Schenker AG (Germany), and XPO Logistics, Inc. (France).

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