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US Event Market : Industry Outlook, Size ($538.6 Billion), Share, Growth (CAGR of 13.0% %), Top Companies Analysis and Research Report 2021-2030
According to the report published by Allied Market Research, the U.S. events market generated $94.8 billion in 2020, and is projected to reach $538.6 billion by 2030, witnessing a CAGR of 13.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.Download Sample Copy of Report @https://www.alliedmarketresearch.com/request-sample/15565
According to the perspective of the top-level CXOs, the U.S. events industry is growing at a significant pace, and is anticipated to continue this trend in the coming years. Events are playing a vital role in revenue generation and brand equations for corporates and associations. It has been witnessed that events of the recent years are equally interesting than the past decade, driving shifts in choice and pressurizing event planners and owners. This industry is witnessing the entry of new and independent players who are leveraging technology to gain a competitive advantage in the today's consolidated environment. However, companies are facing challenges in this industry to manage live inventory for simple and small events. Conversely, the focus of companies is to enhance attendee experience and witness successful completion of an event without any hindrance. Moreover, the hybrid events is likely to gain a major share in the coming years owing to enormously valuable for sponsors because of their increased reach. Also, sponsors may themselves have the opportunity to participate remotely by setting up virtual event booths and giving presentations via video conference.
Increase in such music concerts and events offers valuable opportunities for promoters and brands to align themselves with people attending concerts. Furthermore, sports events have become more commercialized in the recent years. Thus, sports serve as a significant marketing advertisement opportunity for event management companies, which sponsor these events. In addition, sponsorships from various brands such as Redbull, Monster Energy, Nike, Cocoa Cola for major global three-day festival as well as small gig or act in a social club or arena boost the growth of the events industry. Moreover, deployment of best-in-class technology that can handle the entire event propels the industry growth. However, higher entry barriers and presence of alternatives are some of the major challenges of the market. On the contrary, increase in infrastructural investment and technological upgradation, such as projection mapping that creates an augmented reality of experience created through projectors as well as branded multi-use apps that are used to bool tickets, survey attendees, and polling crowds in real time accelerate the market growth. These factors are anticipated to offer ample opportunities for the players in the U.S. events industry.
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The report offers detailed segmentation of the U.S. events market based ontype, revenue source, organizer, age group, and income group.
Based on type, the corporate events & seminars segment contributed to the highest share in 2020, accounting for more than one-fifth of the total share, and is expected to continue its leadership status during the forecast period. However, the hybrid eventssegment is expected to register the highest CAGR of 17.3% from 2021 to 2030.
Based on organizer, the entertainment segment accounted for the largest share in 2020, contributing to nearlyone-third of the total share of the U.S. events market, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 13.9% from 2021 to 2030.
Based on income group, the lower-middle-class segment held the highest share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position in terms of revenue by 2030. However, the upper-class segment is estimated to portray the largest CAGR of 13.7% during the forecast period.
Leading players of the U.S. events market analyzed in the research includeAccess Destination Services, LLC, BCD Meeting & Events, Anschutz Entertainment Group, Creative Group, Inc., BI Worldwide, ITA Group, Cvent, Inc., The ATPI Group, Maritz Holdings, Inc., and 360 Destination Group.
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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 domain.
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