Press release
Exploring Opportunities: Global Events Industry Market Analysis and Growth Forecast 2024-2032
Global Events Industry Market
According to the report by Expert Market Research (EMR), the global events industry market size reached a value of USD 1406.0 billion in 2023. Aided by the increasing demand for corporate and social events, coupled with the growing importance of experiential marketing, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032 to reach a value of USD 2,230.8 billion by 2032.
The events industry encompasses a wide range of activities, including corporate events, conferences, exhibitions, trade shows, concerts, festivals, and social gatherings. This sector plays a crucial role in marketing, networking, and entertainment, providing platforms for business development, knowledge exchange, and cultural celebration.
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One of the key events industry market trends is the increasing emphasis on experiential marketing. Businesses are recognising the value of creating immersive experiences for their customers and stakeholders, leading to a surge in demand for innovative and interactive events. Additionally, the rise of digital and social media platforms has amplified the reach and impact of events, enabling organisers to engage with a global audience.
The corporate events segment, which includes conferences, trade shows, and business meetings, is a significant contributor to the market's growth. Companies invest in these events to foster industry connections, showcase products and services, and drive business growth. The expanding global economy and the rise in international business collaborations are further propelling the events industry market demand.
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The entertainment and cultural events segment, including concerts, festivals, and sports events, is also experiencing substantial growth. The increasing disposable income and the desire for leisure and entertainment activities are driving consumer spending on such events. Moreover, the growing popularity of live music and the rise of global sports events are contributing to the expansion of this segment.
North America and Europe are the leading regions in the events industry market, driven by the presence of major corporations, advanced infrastructure, and a strong focus on marketing and networking events. The United States, United Kingdom, Germany, and France are notable contributors to the market in these regions.
The Asia Pacific region is witnessing rapid growth in the events sector, fuelled by economic development, increasing urbanisation, and the rising middle-class population. Countries such as China, India, Japan, and Australia are key markets in this region, with a growing number of international events being hosted.
Moreover, Latin America and the Middle East and Africa are emerging markets for the events sector, with increasing investments in tourism, infrastructure, and cultural events. The growing focus on international trade and cultural exchange is driving the demand for events in these regions.
Moreover, the market players are adopting various strategies, such as mergers and acquisitions, partnerships, and technological innovations, to enhance their market presence. They are focusing on offering unique and engaging event experiences, consequently driving up the events industry market share.
Global Events Industry Market Segmentation
The market can be divided based on event type, revenue source, and region.
Market Breakup by Event Type
Music Events
Festivals and Cultural Events
Sports Events
Exhibitions and Trade Fairs
Corporate Events and Seminars
Market Breakup by Revenue Source
Ticket Sales
Organisers
Sponsorship
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global events industry market. Some of the major players explored in the report by expert market research are as follows:
ATPI Ltd.
Triumph Group International S.P.A. Benefit Company
Reed Exhibitions Limited
GL events Group
BCD Meetings & Events
Anschutz Entertainment Group, Inc.
ASM Global
CTS EVENTIM AG & Co. KGaA
Clarion Events Ltd.
Cvent Inc.
Others
Insights Uncovered: Frequently Asked Questions
What turned into the global events industry marketplace cost in 2023?
In 2023, the marketplace attained a cost of almost USD 1,406.0 billion.
What is the increase rate of the global occasions industry market?
The market is assessed to develop at a CAGR of 5.1% between 2024 and 2032.
What is the occasions industry marketplace forecast for 2024-2032?
The marketplace is estimated to witness healthful boom in the forecast period of 2024-2032 to attain approximately USD 2,230.8 billion by means of 2032.
What is the events enterprise?
The occasions enterprise is a dynamic area that entails organizing and hosting several occasions, which include exchange indicates, meetings, and exhibitions. It helps corporations, industries, and individuals to proportion understanding, network with an target audience, and exhibit products.
How does the events enterprise assist the economic system?
The occasion industry supports the financial system with the aid of developing jobs, generating revenue, attracting traffic, and selling locations.
What are the fundamental marketplace drivers?
The important drivers consist of the growing frequency of social and non-social gatherings, the growing quantity of sponsors, and the developing corporate lifestyle.
What are the key traits of the marketplace?
The key tendencies assisting the marketplace growth are growing live performances, growing company occasions, and technological advancements.
What are the predominant nearby markets of occasions marketplace, consistent with the EMR record?
The predominant regions inside the marketplace are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
What are the main event kinds?
The major occasion types encompass tune events, fairs and cultural activities, sports activities events, exhibitions and exchange gala's, and corporate occasions and seminars.
Who are the key players in the occasions industry marketplace, according to the file?
Key marketplace players include ATPI Ltd., Triumph Group International S.P.A. Benefit Company, Reed Exhibitions Limited, GL Events Group, BCD Meetings & Events, Anschutz Entertainment Group, Inc., ASM Global, CTS EVENTIM AG & Co. KGaA, Clarion Events Ltd., and Cvent Inc., among others.
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