Events industry market is set to expand significantly in the coming years, with projections indicating a value of $2.1 trillion by the year 2032 ; CL Events, Seven Events Ltd., Clarion Events Ltd., and Versatile Event Management.

According to a new report published by Allied Market Research, titled, "Events Industry by Type, Revenue Source, Organizer and Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2028," The global events industry size was valued at $1,135.4 billion in 2019, and is projected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2030.

The trend of online events through video conferences and webinars is anticipated to grow continuously. Various technological advances such as AI, AR, VR, and blockchain technologies in the events industry are rapidly transforming the way events are planned, executed, and experienced. Moreover, the emergence of 5G connectivity has a significant role to play in enhancing the overall event experience.

The events industry encompasses a wide range of activities, including conferences, conventions, trade shows, exhibitions, concerts, festivals, weddings, and more. It involves planning, organizing, and executing events to bring people together for various purposes, such as networking, education, celebration, or entertainment. Key aspects of the event industry include event management, marketing, logistics, venue selection, catering, and technology integration. The events industry plays a significant role in economies worldwide, fostering connections, driving tourism, and promoting cultural exchange.

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The trend of online events through video conferences and webinars is anticipated to grow continuously. According to a report published by Allied Market Research, the global events industry market size is registered to reach $2.1 trillion with a considerable CAGR from 2023 to 2032. Europe is currently dominating the market with the highest market share. The Asia-Pacific region, at the same time, is expected to witness the fastest growth rate during the forecasted period. The regional growth is attributed to strong economic expansion and growing interest of youth, particularly in India and China.

Various technological advances such as AI, AR, VR, and blockchain technologies in the events industry are rapidly transforming the way events are planned, executed, and experienced. For instance, AR & VR technologies are revolutionizing event experiences by creating immersive environments and interactive simulations. From virtual venue tours to AR enhanced exhibits, these technologies enhance engagement and provide unique opportunities for attendees to interact with content and brands.

AI-powered solutions, at the same time, are being used to enhance various aspects of event planning and execution. Chatbots provide instant support and assistance to attendees, while predictive analytics help organizers make data driven decisions about event logistics, marketing strategies, and attendee engagement.

In addition, blockchain technology offers enhanced security, transparency, and traceability for various aspects of event management, including ticketing, payments, and data management. By leveraging blockchain, organizers can prevent fraud, verify ticket authenticity, and ensure the integrity of event data.

Moreover, the emergence of 5G connectivity has a significant role to play in enhancing the overall event experience. The rollout of 5G technology offers faster and more reliable internet connectivity, enabling high quality live streaming, real time communication, and interactive experiences at events. 5G connectivity also supports emerging technologies like VR, AR, IoT devices.

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Furthermore, in response to the COVID-19 pandemic, contactless solutions such as mobile payments, QR code scanning, facial recognition, and touchless interfaces have become increasingly popular at events. These technologies minimize physical contact, reduce transmission risks, and enhance safety for attendees and staff by providing seamless and secure attendee check-ins, access control, and personalized experiences at events.

Here, it is worth mentioning that the global events industry market is continually evolving, driven by technological innovations, changing consumer preferences, and global trends. As we move forward, the industry will continue to prioritize flexibility, sustainability, inclusivity, and technology integration to create memorable and impactful experiences for attendees. By embracing these trends and adapting to new challenges, the event industry will remain a vital driver of economic growth, cultural exchange, and community engagement in the years to come.

The major players profiled in the report are Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd., and Versatile Event Management.

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Key findings of the study

The global events industry size was valued at $1,135.4 billion in 2019, and is projected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2028.

By type, the corporate events and seminar segment was the highest contributor to the market, with $314.7 billion in 2019, and is estimated to reach $454.6 billion by 2028, at a CAGR of 12.4% during the forecast period.

By revenue source, the sponsorship segment was the highest contributor to the market, with $523.7 billion in 2019, and is estimated to reach $767.0 billion by 2028, at a CAGR of 12.5% during the forecast period.

By organizer, the entertainment segment was the highest contributor to the market, with $328.4 billion in 2019, and is estimated to reach $493.8 billion by 2028, at a CAGR of 12.9% during the forecast period.

By age group, the 21-40 years segment was the highest contributor to the market, with $489.8 billion in 2019, and is estimated to reach $735.2 billion by 2028, at a CAGR of 12.8% during the forecast period.

By region, Europe was the highest revenue contributor, accounting for $419.0 billion in 2019, and is estimated to reach $498.5 billion by 2028, with a CAGR of 9.9%.

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Country reports :-
:- U.S. Corporate Event Market https://www.alliedmarketresearch.com/us-corporate-event-market-A06293

:- Event Pro-Av Services Market https://www.alliedmarketresearch.com/event-pro-av-services-market-A31436

:- UK Events Market https://www.alliedmarketresearch.com/uk-events-industry-market-A169718

:- U.S. Corporate Event Pro-AV Services Market
https://www.alliedmarketresearch.com/u-s-corporate-event-pro-av-services-market-A47366

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

:- Discount Events And Experiences Market
https://www.alliedmarketresearch.com/discount-events-and-experiences-market-A15680

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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