Press release
Rising Number Of Sports Leagues Fuels Growth In The Events Industry Market: Major Factor in the Transformation of the Events Industry Market in 2025
In previous years, the market size of the events industry has witnessed a significant expansion. Forecasts indicate it will expand from $1227.3 billion in 2024 to $1346.92 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this growth during the historical period include an increase in religious and cultural festivals, the emergence of public events, evolving preferences among consumers, a commitment to sustainability, and the influence of government support and regulation.
The market size of the events industry is projected to witness a robust growth in the upcoming years, escalating to $1930.26 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.4%. The predicted surge during the forecast period can be attributed to the rising interest in environmentally-friendly events, expansion in tourism and destination events, inconsistencies in corporate investment, an increase in business conferences, and a rise in the number of sports leagues. A few significant trends during the forecast period include technological innovations, development of 3D virtual venues, progression in event technology, data-informed event planning, and incorporation of artificial intelligence (AI).
What Key Elements Are Boosting Growth in the Events Industry Market?
The continuous increase in the popularity of sports leagues is anticipated to boost the expansion of the events industry market in the future. A sports league is an organized group of teams or individual athletes, competing face to face in a well-structured format over a set duration, usually minted by specific rules and regulations. This upsurge of sports leagues is prompted by the rising enthusiasm for sports from participants and fans, a growing availability of event organization resources, and the proliferation of broadcasting and digital media. Providing the vital infrastructure needed such as venue management, ticketing, and promotional initiatives, the events industry significantly contributes to facilitating live sports leagues. These leagues captivate large audiences and encourage community engagement. For instance, as per Deloitte Touche Tohmatsu Limited, a professional services firm based in the UK, the top 20 clubs of the football money league have generated a record revenue of $11.6 billion (€10.5 billion) during 2022-2023, a surge of 14% from 2021-2022. Consequently, the escalating popularity of sports leagues propels the growth of the events industry market.
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Who Are the Major Industry Players Fueling Events Industry Market Expansion?
Major companies operating in the events industry market are Live Nation Entertainment Inc., RELX Group PLC, Anschutz Entertainment Group Inc., BCD Group Inc., Freeman Company, Informa PLC, ATPI Ltd., GL Events SA, Reed Exhibitions Limited, Messe Frankfurt GmbH, Cvent Inc., MCH Group AG, Clarion Events Ltd., Emerald Holding, Hyve Group plc, Questex LLC, Access Destination Services LLC, Bizzabo Inc., Social Tables Inc., Outback Concerts LLC, Riviera Events LLC, IMEX Group Ltd., Eventful Inc., CL Events Limited, Entertaining Asia Ltd.
Which Key Developments Are Influencing the Events Industry Market?
Prominent firms in the events industry market are emphasizing the creation of novel solutions, such as event management software, to enhance diverse aspects of event organization, including registration and invoicing processes. An essential technological tool in the events industry, event management software assists event planners with the planning, execution, and management of events effectively. These digital solutions facilitate various segments of event organizing, from logistical strategies and registration to promotional tactics and post-event evaluation. As an illustration, Evexus, a software development firm based in Australia, introduced a comprehensive event management software solution in June 2024, aimed at amplifying and making event planning processes more efficient worldwide. This platform utilizes progressive technologies like artificial intelligence (AI), sequential registration, and upfront payment options to fill a significant void in the present event management market. These sophisticated features strive to transform industry standards, optimizing organization, and augmenting the overall event experience. Moreover, it provides support to event planners in endorsing sponsors, delivering on-demand content, collecting valuable data analytics, and live streaming events.
How Is the Segmentation of the Events Industry Market Defined?
The events industrymarket covered in this report is segmented -
1) By Type: Music Concerts, Festivals, Sports, Exhibitions And Conferences, Corporate Events And Seminar, Other Types
2) By Age Group: Below 20 Years, 21-40 Years, Above 40 Years
3) By Revenue Source: Ticket Sale, Sponsorship, Food And Beverage, Other Revenue Sources
4) By Organizer: Corporate, Sports, Education, Entertainment, Other Organizers
Subsegments:
1) By Music Concerts: Live Music Performances, Virtual Concerts, Music Festivals, Album Launch Events, Tour Concerts
2) By Festivals: Cultural Festivals, Religious Festivals, Food And Wine Festivals, Film Festivals, Arts And Craft Festivals
3) By Sports: Professional Sports Leagues, International Sporting Events, Esports Tournaments, Marathons and Races, Local and Community Sports Events
4) By Exhibitions And Conferences: Trade Shows, Product Launches, Industry-Specific Conferences, Networking Events, Virtual Exhibitions And Conferences
5) By Corporate Events and Seminars: Business Meetings, Team-Building Events, Corporate Training Seminars, Product Presentations, Shareholder Meetings
6) By Other Types: Weddings, Charity And Fundraising Events, Social And Private Parties, Award Ceremonies, Fashion Shows
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What Is the Leading Region in the Events Industry Market?
Europe was the largest region in the events industry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the events industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Events Industry Global Market Report?
- Market Size Analysis: Analyze the Events Industry Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Events Industry Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Events Industry Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Events Industry Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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