Events Market (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminars) Size in United States Hits $538.6 Billion by the End of 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.

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Rise in sponsorship for events and surge in interest among youth in entrepreneurship& business seminars drive the growth of the U.S. events market. However, high operational costs and entry barriers due to presence of existing giant players hinder the market growth. On the other hand, technological advancements and rise in infrastructural investments create new opportunities in the coming years.

The initial stage of a major event involves understanding the audience and their behavior that excites and emotionally engages them. The final stage involves conducting events, such as music concerts, sports, exhibitions & conferences, seminars, and others, appropriately. It has been witnessed that events such as music concerts attract majority of the population, especially the youth and middle-aged individuals, which boost the growth of the U.S. events industry size. Although the album sales have drastically reduced, shift in preference of artists and performers toward touring and conducting music concerts at various places across the world has further driven the U.S. events market growth. In addition, rock and pop music dominates most of the markets, globally while the U.S. population prefers rap and hip-hop. Thus, 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.

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.

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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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Key Benefits For Stakeholders

The report provides a quantitative analysis of the current U.S. Events market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis and the market size and segmentation assists to determine the prevailing U.S. Events market opportunities.

Drivers and restraints are analyzed in the U.S. Events industry.

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Asia Event Industry : https://www.alliedmarketresearch.com/asia-events-industry-market-A06279

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