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Events Industry Report

RA08401

Events Industry by Type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminar, and Others), Revenue Source (Ticket Sale, Sponsorship, and Others), Organizer (Corporate, Sports, Education, Entertainment, and Others), Age Group (Below 20 Years, 21–40 Years, and Above 40 Years), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA08401

Pages: 301

May 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Events Industry

Events Industry Analysis

The global events industry is anticipated to garner $1,457.2 million in the 2021–2028 timeframe, growing from $1,134.5 million in 2020 at a healthy CAGR of 23.1%

Market Synopsis

Acquisition and business expansion among market players, along with growth in corporate events, seminars, exhibitions are anticipated to drive the growth of the events industry.

However, high cost involved in organizing events that include on-site expenses, food & catering cost, entertainment charges, venue charges, and others are anticipated to restrain the market growth. 

According to the regional analysis of the market, the Asia-Pacific events industry is anticipated to grow at a CAGR of 29.7% by generating a revenue of $475.0 million during the review period.

Events Industry Overview

Events industry comprises of various small-scale or large-scale corporate or personal events such as festivals, formal parties, concerts, exhibitions, conferences, seminars, and others. The events industry includes event planning and event management that comprises of site selection, budgeting, scheduling, and others.    

Impact Analysis of COVID-19 on the Global Events Industry 

The novel coronavirus pandemic had a devastating effect on several industries and the events industry also experienced a negative impact owing to unprecedented lockdowns, travel restrictions, restrictions on social meetings, physical gatherings, and social distancing measures. This led to significant revenue losses and many companies were forced to lay off significant members of their staff. Furthermore, many international events that were scheduled to take place in 2020 were postponed until next year. For instance, Tokyo 2020 Olympics was postponed and this event is schedule to happen July 23, 2021 onwards. Moreover, UEFA Euro 2020, the European football championship, was postponed due to COVID-19 and has been rescheduled to take place in the months of June and July 2021. Hence, event industry was negatively impact by the pandemic due to cancellation of various sporting events, exhibitions, prominent festivals, concerts, weddings, and others to curb the spread of COVID-19 virus.

Several companies, with their technological advancements and initiatives, are helping the society to recover from the chaotic situation. With the ban on social gatherings, physical meetings, large gatherings various companies have shifted towards virtual events as social interaction is still an integral part of human life. Even though the pandemic has adversely affected the traditional event plans, virtual event startup companies have seen steady increase and growing popularity for virtual events. For instance, Hopin, the company founded in June 2019, which describes itself as a virtual venue and offers variety of features such as virtual rooms, including the attendees that can move in and out to recreate the experience of traditional live conference or event experience. Hence, Hopin has become a popular platform for conducting events and conferences. Such initiatives are estimated to boost the events industry growth during the forecast period. 

Increase in Sponsorship for Events to Drive the Market Growth 

The global events industry is witnessing rapid growth due to increase in government sponsorships as well as company sponsorships. Sponsorships play an important role in events industry and enables companies to advertise their products and attract a large consumer base. Various leading companies sponsor various events such as music concerts, sport events to increase their sales.. For instance, the digitalindia.gov.in is a flagship program launched by the Government of India to transform India into digitally empowered society. Under this program, the Indian government offers various sponsorships for pre-events, side events, run up events, and event activities. In addition, the Indian government is also offering various sports sponsorships, under National Sports Development Fund for various sport activities such as badminton, athletics, hockey, judo, swimming, table tennis, and others. Furthermore, the Indian Premier League (IPL 2020), the Indian cricket league, has attracted sponsorships from big brands such as Tata Motors, Dram 11, PayTM, CEAT, Unacademy, Byju’s, Amazon, and others. All these advantages are anticipated to drive the market demand during the analysis timeframe.     

To know more about global events industry drivers, get in touch with our analysts here.

High Operational Cost in Organizing Events To Restrain Market Growth 

Organizing an event is costly due to various factors such as on-site event expenses, venue/premises cost, food & catering cost, presentation cost that involves the use of microphones, projectors, screens, internet access, and other specialized equipment. Also, it involves the cost of third-party vendors, décor vendors, event rentals, entertainment cost, marketing cost, administrative expenses, and others. These factors are predicted to restrain the events industry growth during the forecast period.

Virtual Events to Create Enormous Investment Opportunities

The pandemic has brought drastic changes in the event industry due to ban on social gatherings, travel restrictions, and others. However, the businesses facilitating virtual events are estimated to generate huge growth opportunities in the upcoming years. The virtual event startup companies that have recently entered into the market have seen huge growth potential. For instance, Sofar Sounds, the music events company established in 2009, that transforms cafes and living rooms into live music venues for small audiences was badly hit by the pandemic. However, to cope up with the pandemic, from March 2020, the Sofar Sounds started permitting the users to tune into “listening rooms” where they can join musicians from all over the world for livestreams. Hence, many such companies are focusing to bridge the gap between live and online events. All such initiatives are estimated to generate huge growth opportunities in the events industry during the analysis timeframe.  

To know more about global events industry opportunities, get in touch with our analysts here.

Global Events Industry, by Type

Based on type, the market has been divided into music concert, festivals, sports, exhibitions & conferences, corporate events & seminar, and others. Out of these, the corporate events & seminar sub-segment accounted for the highest revenue share in 2020 and it is predicted to show the fastest growth during the forecast period.

Global Events Industry, by Type

Source: Research Dive Analysis

The corporate events & seminar sub-type is anticipated to have a dominant market share and generate a revenue of $413.7 million by 2028, growing from $307.0 million in 2020.  The corporate events & seminars involves discussions and interaction among the attendees. In addition, corporate events & seminars are being conducted virtually post-pandemic due to restrictions on social gatherings and corporate meetings. For instance, COVID-19 restrictions have forced corporate companies to rely on technology to connect with the people in order to conduct seminar and corporate events. To achieve this, Zoom, a communications platform, has become quite popular and is estimated to drive the demand for corporate events & seminar during the analysis period.

Global Events Industry, by Revenue Source

Based on revenue, the analysis has been divided into ticket sale, sponsorship, and others. Out of these, sponsorship is predicted to be the most dominant sub-segment and account for the fastest growth during the forecast period.

Global Events Industry, by Revenue Source

Source: Research Dive Analysis

The sponsorship sub-segment of the global events industry is anticipated to have a dominant market share and fastest growth and is estimated to surpass $710.7 million by 2028, with an increase from $520.0 million in 2020. This growth is majorly attributed to lucrative benefits offered by the sponsors such as increase in brand visibility that help companies in generating leads and reaching out to the potential customers. Also, it facilitates in highlighting the product and its benefits. For instance, as stated on August 29, 2020, in The Hindu, a popular newspaper, BCCI (Board of Control for Cricket in India) has announced Unacademy, a leading ed-tech platform in India, as its official partner for IPL (Indian Premier League) and signed a sponsorship deal for the same. This will help Unacademy to build relations with the target audience and make sales out of it as IPL offers instant large-scale visibility as billions of people watch cricket. Such benefits are anticipated to drive the growth of sponsorship sub-segment during the analysis period.

Global Events Industry, by Organizer

Based on organizer, the analysis has been divided into corporate, sports, education, entertainment, and others. Out of these, the entertainment sub-segment is predicted to be the most dominant sub-segment and account for the fastest growth during the forecast period.

Global Events Industry, by Organizer

Source: Research Dive Analysis

The entertainment sub-segment of the global events industry is anticipated to have a dominant market share and surpass $27,286.1 million by 2028, with an increase from $453.3 million in 2020. The entertainment sub-segment involves music conferences, live concerts, and other entertainment events. The entertainment events play an important role in reducing stress, boosting your mood, helps in discovering new music, and provides unique experience. The pandemic has affected the entertainment sub-segment as theaters, music halls, film sets, and others are closed due to restrictions on social gatherings. However, entertainment sub-segment has found various ways to return to normality by innovating their operations. For instance, various companies have shifted their focus towards online streaming. They are utilizing various online platforms such as over-the-top platforms namely HBO Go, Netflix, Amazon Prime, and others. In addition, many other companies are focusing on social media platforms such as Facebook, Instagram, and others to conduct live music concerts to engage their fans. Such initiatives are estimated to drive the growth of entertainment sub-segment in the upcoming years.

Global Events Industry, by Age Group

Based on age group, the analysis has been divided into below 20 years, 21-40 years, above 40 years. Out of these, 21-40 years is the dominant sub-segment and has accounted for the fastest growth in the global market. 

Global Events Industry, by Age Group

Source: Research Dive Analysis

The 21-40 years sub-segment of the global events industry is anticipated to have a dominant market share and surpass $679.0 million by 2028, with an increase from $486.3 million in 2020. This growth is mainly owing to active participation of individuals from 21-40 years age group in various music concerts, sports events, festivals, exhibitions, and others. Also, this is the age when lot of people engage in their corporate jobs, where they need to attend corporate events, seminars, business meetings, and others. In addition, this age group is actively involved in entertainment events such as music concerts, live concerts that helps them in maintain work life balance and reducing the stress. All these factors are estimated to drive the growth of 21-40 years sub-segment of global events industry during the forecast period.    

Global Events Industry, Regional Insights:

The events industry was investigated across North America, Europe, Asia-Pacific, and LAMEA. Out of these, Europe region accounted for the dominant market share in 2020 and Asia-Pacific region is projected to account for the fastest growth during the forecast period.

Global Events Industry, Regional Insights

Source: Research Dive Analysis

The Market for Events Industry in Europe to be the Most Dominant

The Europe events industry accounted $413.2 million in 2020 and is projected to register a revenue of $468.5 million by 2028. The rapid growth in events industry is majorly attributed to planned and innovative strategies such as marketing programs, digital campaigns by market players. In addition, increase in sponsorships, revenues, and attendance rate at various exhibitions is estimated to drive the market growth. The companies in Europe are more prudent about their spending and hence choose mid-scale venues for conducting events, conferences, meetings, and others. In addition, Europe has been successful in winning conferences of international associations and many countries such as Germany, Spain are the popular destinations for the international conferences. For instance, Merck Group, the Germany-based multinational science and technology company, sponsors various events such as educational, sport events, cultural events including music, festivals, concerts, art exhibitions namely Hesse’s largest music festival and others. Technological advancements such as online booking for sports events, music concerts, and others are estimated to drive the growth of events industry in Europe during the forecast period.   

The Market for Events Industry in Asia-Pacific to be the Fastest Growing  

The share of Asia-Pacific events industry is anticipated to grow at a CAGR of 29.7% by registering a revenue of $475.0 million by 2028. This growth is majorly attributed to changing economic growth, government sponsorships for various events including sports, rapid digitization, and other technological advancements. Growing youth interest in events such as sports, music, exhibitions, seminars is estimated to drive the market growth. For instance, the benefits of attending a conference or seminar are getting to know other people of your field, latest research & happenings around the world, improves the presentation & communication skills, helps you in refining your ideas, and others. For instance, the top companies that sponsor in various events in India are Ernst & Young, international professional services network, sponsors various events & conferences such as healthcare, entrepreneurship, and others. Furthermore, J.P.Morgan, American bank & financial services company sponsors various non-profit activities including sporting events, arts & culture, and others. All these factors are estimated to propel the growth of Asia-Pacific events industry during the forecast period.

Competitive Scenario in the Global Events Industry  

Acquisition, business expansions, and technological advancements are common strategies followed by major market players.

Competitive Scenario in the Global Events Industry

Source: Research Dive Analysis

Some of the leading events industry players are ACCESS Destination Services, LLC, Anschutz Entertainment Group, The ATPI Group, BCD Meeting & Events, Capita, CL Events, Clarion Events Ltd, Cvent, Inc., DRPG Group, and Entertaining Asia  

Porter’s Five Forces Analysis for the Global Events Industry:

  • Bargaining Power of Suppliers: Most of the companies operating in events industry buy their raw materials numerous suppliers. Powerful suppliers in the events industry use their negotiating power to reduce the cost of raw materials. The product differentiation is moderate and switching cost of low. 
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: Buyers have low bargaining power as number of buyers is high. Also, building large customer base and rapidly innovating new products, help the companies in the event industry to reduce the bargaining power of customers
    Thus, the bargaining power of the buyers is low.
  • Threat of New Entrants: The companies entering events industry are using new approaches such as adoption of innovative technologies, product advancements, low pricing strategy for various events, and offering discounts. Also, the existing companies are using innovative products, services, increasing their spending on research & development activities, to stay ahead in the competition.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: The availability of substitute product such as use of latest technologies namely Zoom, Google Meet, and social media platforms increases the threat of substitute which has acquired huge popularity during the pandemic due to restrictions on large gatherings.  
    Thus, the threat of substitutes is moderate.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is moderate. The number of players operating in events industry are high and strategies adopted by these players such as acquisitions, partnerships, and new technologies are increasing significantly.  
    Therefore, competitive rivalry in the market is moderate.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Music Concert
  • Festivals
  • Sports
  • Exhibitions & Conferences
  • Corporate Events & Seminar
  • Others

  Segmentation by Revenue Source

  • Ticket Sale
  • Sponsorship
  • Others

  Segmentation by Organizer

  • Corporate
  • Sports
  • Education
  • Entertainment
  • Others

  Segmentation by Age Group

  • Below 20 Years
  • 21-40 Years
  • Above 40 years

  Key Companies Profiled

  • ACCESS Destination Services, LLC
  • Anschutz Entertainment Group
  • The ATPI Group
  • BCD Meeting & Events
  • Capita
  • CL Events
  • Clarion Events Ltd
  • Cvent, Inc.
  • DRPG Group
  • Entertaining Asia

Frequently Asked Questions
 

A. The size of the global events industry was over $1,134.5 million in 2020 and is projected to reach $1,457.2 million by 2028.

A. Anschutz Entertainment Group, The ATPI Group, and BCD Meeting & Events are some of the major players operating in the events industry.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia Pacific events industry is anticipated to grow at 29.7% CAGR during the forecast period.

A. Acquisitions, partnerships, and technological advancements are the key strategies opted by the operating companies in this market.

A. Anschutz Entertainment Group, The ATPI Group, and BCD Meeting & Events are investing more on R&D activities for developing new technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Type trends
2.3.Revenue Source trends
2.4.Organizer trends
2.5.Age Group trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Events Industry Market, by Type 

4.1.Music Concert

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Festivals

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

4.3.Sports

4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028

4.4.Exhibitions & Conferences

4.4.1.Market size and forecast, by region, 2020-2028
4.4.2.Comparative market share analysis, 2020 & 2028

4.5.Corporate Events & Seminar

4.5.1.Market size and forecast, by region, 2020-2028
4.5.2.Comparative market share analysis, 2020 & 2028

4.6.Others

4.6.1.Market size and forecast, by region, 2020-2028
4.6.2.Comparative market share analysis, 2020 & 2028

5.Events Industry Market, by Revenue Source 

5.1.Ticket Sale 

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Sponsorship 

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

5.3.Others 

5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028

6.Events Industry Market, by Organizer 

6.1.Corporate

6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028

6.2.Sports

6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028

6.3.Education

6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028

6.4.Entertainment

6.4.1.Market size and forecast, by region, 2020-2028
6.4.2.Comparative market share analysis, 2020 & 2028

6.5.Others

6.5.1.Market size and forecast, by region, 2020-2028
6.5.2.Comparative market share analysis, 2020 & 2028

7.Events Industry Market, by Age Group

7.1.Below 20 Years

7.1.1.Market size and forecast, by region, 2020-2028
7.1.2.Comparative market share analysis, 2020 & 2028

7.2.21-40 Years

7.2.1.Market size and forecast, by region, 2020-2028
7.2.2.Comparative market share analysis, 2020 & 2028

7.3.Above 40 years

7.3.1.Market size and forecast, by region, 2020-2028
7.3.2.Comparative market share analysis, 2020 & 2028

8.Events Industry Market, by Region

8.1.North America

8.1.1.Market size and forecast, by Type, 2020-2028
8.1.2.Market size and forecast, by Revenue Source, 2020-2028
8.1.3.Market size and forecast, by Organizer, 2020-2028
8.1.4.Market size and forecast, by Age Group, 2020-2028
8.1.5.Market size and forecast, by country, 2020-2028
8.1.6.Comparative market share analysis, 2020 & 2028

8.1.7.U.S.

8.1.7.1.Market size and forecast, by Type, 2020-2028
8.1.7.2.Market size and forecast, by Revenue Source, 2020-2028
8.1.7.3.Market size and forecast, by Organizer, 2020-2028
8.1.7.4.Market size and forecast, by Age Group, 2020-2028
8.1.7.5.Comparative market share analysis, 2020 & 2028

8.1.8.Canada

8.1.8.1.Market size and forecast, by Type, 2020-2028
8.1.8.2.Market size and forecast, by Revenue Source, 2020-2028
8.1.8.3.Market size and forecast, by Organizer, 2020-2028
8.1.8.4.Market size and forecast, by Age Group, 2020-2028
8.1.8.5.Comparative market share analysis, 2020 & 2028

8.1.9.Mexico

8.1.9.1.Market size and forecast, by Type, 2020-2028
8.1.9.2.Market size and forecast, by Revenue Source, 2020-2028
8.1.9.3.Market size and forecast, by Organizer, 2020-2028
8.1.9.4.Market size and forecast, by Age Group, 2020-2028
8.1.9.5.Comparative market share analysis, 2020 & 2028

8.2.Europe

8.2.1.Market size and forecast, by Type, 2020-2028
8.2.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.3.Market size and forecast, by Organizer, 2020-2028
8.2.4.Market size and forecast, by Age Group, 2020-2028
8.2.5.Market size and forecast, by country, 2020-2028
8.2.6.Comparative market share analysis, 2020 & 2028

8.2.7.Germany 

8.2.7.1.Market size and forecast, by Type, 2020-2028
8.2.7.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.7.3.Market size and forecast, by Organizer, 2020-2028
8.2.7.4.Market size and forecast, by Age Group, 2020-2028
8.2.7.5.Comparative market share analysis, 2020 & 2028

8.2.8.France

8.2.8.1.Market size and forecast, by Type, 2020-2028
8.2.8.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.8.3.Market size and forecast, by Organizer, 2020-2028
8.2.8.4.Market size and forecast, by Age Group, 2020-2028
8.2.8.5.Comparative market share analysis, 2020 & 2028

8.2.9.UK

8.2.9.1.Market size and forecast, by Type, 2020-2028
8.2.9.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.9.3.Market size and forecast, by Organizer, 2020-2028
8.2.9.4.Market size and forecast, by Age Group, 2020-2028
8.2.9.5.Comparative market share analysis, 2020 & 2028

8.2.10.Italy

8.2.10.1.Market size and forecast, by Type, 2020-2028
8.2.10.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.10.3.Market size and forecast, by Organizer, 2020-2028
8.2.10.4.Market size and forecast, by Age Group, 2020-2028
8.2.10.5.Comparative market share analysis, 2020 & 2028

8.2.11.Spain 

8.2.11.1.Market size and forecast, by Type, 2020-2028
8.2.11.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.11.3.Market size and forecast, by Organizer, 2020-2028
8.2.11.4.Market size and forecast, by Age Group, 2020-2028
8.2.11.5.Comparative market share analysis, 2020 & 2028

8.2.12.Rest of Europe

8.2.12.1.Market size and forecast, by Type, 2020-2028
8.2.12.2.Market size and forecast, by Revenue Source, 2020-2028
8.2.12.3.Market size and forecast, by Organizer, 2020-2028
8.2.12.4.Market size and forecast, by Age Group, 2020-2028
8.2.12.5.Comparative market share analysis, 2020 & 2028

8.3.Asia Pacific

8.3.1.Market size and forecast, by Type, 2020-2028
8.3.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.3.Market size and forecast, by Organizer, 2020-2028
8.3.4.Market size and forecast, by Age Group, 2020-2028
8.3.5.Market size and forecast, by country, 2020-2028
8.3.6.Comparative market share analysis, 2020 & 2028

8.3.7.Japan

8.3.7.1.Market size and forecast, by Type, 2020-2028
8.3.7.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.7.3.Market size and forecast, by Organizer, 2020-2028
8.3.7.4.Market size and forecast, by Age Group, 2020-2028
8.3.7.5.Comparative market share analysis, 2020 & 2028

8.3.8.China 

8.3.8.1.Market size and forecast, by Type, 2020-2028
8.3.8.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.8.3.Market size and forecast, by Organizer, 2020-2028
8.3.8.4.Market size and forecast, by Age Group, 2020-2028
8.3.8.5.Comparative market share analysis, 2020 & 2028

8.3.9.Australia  

8.3.9.1.Market size and forecast, by Type, 2020-2028
8.3.9.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.9.3.Market size and forecast, by Organizer, 2020-2028
8.3.9.4.Market size and forecast, by Age Group, 2020-2028
8.3.9.5.Comparative market share analysis, 2020 & 2028

8.3.10.India

8.3.10.1.Market size and forecast, by Type, 2020-2028
8.3.10.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.10.3.Market size and forecast, by Organizer, 2020-2028
8.3.10.4.Market size and forecast, by Age Group, 2020-2028
8.3.10.5.Comparative market share analysis, 2020 & 2028

8.3.11.Rest of Asia-Pacific

8.3.11.1.Market size and forecast, by Type, 2020-2028
8.3.11.2.Market size and forecast, by Revenue Source, 2020-2028
8.3.11.3.Market size and forecast, by Organizer, 2020-2028
8.3.11.4.Market size and forecast, by Age Group, 2020-2028
8.3.11.5.Comparative market share analysis, 2020 & 2028

8.4.LAMEA

8.4.1.Market size and forecast, by Type, 2020-2028
8.4.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.3.Market size and forecast, by Organizer, 2020-2028
8.4.4.Market size and forecast, by Age Group, 2020-2028
8.4.5.Market size and forecast, by country, 2020-2028
8.4.6.Comparative market share analysis, 2020 & 2028

8.4.7.Brazil  

8.4.7.1.Market size and forecast, by Type, 2020-2028
8.4.7.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.7.3.Market size and forecast, by Organizer, 2020-2028
8.4.7.4.Market size and forecast, by Age Group, 2020-2028
8.4.7.5.Comparative market share analysis, 2020 & 2028

8.4.8.Argentina 

8.4.8.1.Market size and forecast, by Type, 2020-2028
8.4.8.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.8.3.Market size and forecast, by Organizer, 2020-2028
8.4.8.4.Market size and forecast, by Age Group, 2020-2028
8.4.8.5.Comparative market share analysis, 2020 & 2028

8.4.9.Saudi Arabia

8.4.9.1.Market size and forecast, by Type, 2020-2028
8.4.9.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.9.3.Market size and forecast, by Organizer, 2020-2028
8.4.9.4.Market size and forecast, by Age Group, 2020-2028
8.4.9.5.Comparative market share analysis, 2020 & 2028

8.4.10.South Africa

8.4.10.1.Market size and forecast, by Type, 2020-2028
8.4.10.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.10.3.Market size and forecast, by Organizer, 2020-2028
8.4.10.4.Market size and forecast, by Age Group, 2020-2028
8.4.10.5.Comparative market share analysis, 2020 & 2028

8.4.11.Rest of LAMEA

8.4.11.1.Market size and forecast, by Type, 2020-2028
8.4.11.2.Market size and forecast, by Revenue Source, 2020-2028
8.4.11.3.Market size and forecast, by Organizer, 2020-2028
8.4.11.4.Market size and forecast, by Age Group, 2020-2028
8.4.11.5.Comparative market share analysis, 2020 & 2028

9.Company profiles

9.1.ACCESS Destination Services

9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis

9.2.Anschutz Entertainment Group (AEG)

9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis

9.3.BCD Meeting & Events

9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis

9.4.Capita plc.

9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis

9.5.CL Events

9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis

9.6.Clarion Events Ltd 

9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis

9.7.Cvent, Inc.

9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis

9.8.DRPG Group

9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis

9.9.Entertaining Asia

9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis

9.10.The ATPI Group

9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis

The current world is acquainted of witnessing many types of events. An event can be any activity that is planned for a special purpose and generally comprises a lot of people, for instance parties, festivals, ceremonies, meetings, trade shows, or conferences. Owing to a rise in the need and popularity of events, event management services have become the need of the era.

Event management professionals are responsible for managing the overall logistics of the event, working with staff, and guiding the project management of the event. With the growing frequency of events across the world, the events industry is booming and expected to see marvelous growth in the coming years. A report by Research Dive backs this fact through the estimations published in its report on the global events market. According to the report, the global events industry is predicted to perceive significant growth and register a CAGR of 23.1% from 2021 to 2028.

What Factors are Triggering the Growth of the Events Industry?

Many factors are responsible for the massive growth of the event industry. Everything from rising reach of the internet to the growing need of the businesses and entertainment sectors to frequently communicate with their potential audience is contributing to the growth of the events industry. Also, the growing demand from government bodies, community groups, NGOS, sports sector, and individuals for event management services is fueling the development of the event industry. Moreover, an increase in number of sponsorships for event is another factor predicted to drive the growth of the global events industry in the near future.

Besides, event management is seen as the most trending and highly demanded career among the individuals in the current generation. Being an interesting and challenging career option, many youths are highly attracted and are considering to build their career in the event management sector which is expected to thrive the market in the coming years. Additionally, as there is a significant rise in the development of novel companies in the recent years, there is a huge scope for the event industry’s growth. This is because new companies willingly invest heavy amounts in organizing events for showcasing their products or presenting their company over a wide range of target audience. Some of the leading global events industry market players are ACCESS Destination Services, LLC, Anschutz Entertainment Group, The ATPI Group, BCD Meeting & Events, Capita, CL Events, Clarion Events Ltd, Cvent, Inc., DRPG Group, and Entertaining Asia.

Recent Trends in the Event Industry

The widespread demand for events has encouraged many to enter the event management sector. Several players in this market are conducting novel activities and strategies for boosting their business and staying ahead of the massive competition in the industry. For instance, in January 2021, Glue Up, an exclusive all-in-one engagement platform, has been named amongst Digital.com’s top event management software and membership management software businesses of 2021.

In January 2021, a worldwide front-runner in critical event management (CEM), Everbridge, Inc., has declared its achievement of a new milestone in its support of business, healthcare, and government organizations throughout an unprecedented year filled with natural, manmade, and digital catastrophes, like the COVID-19 pandemic. In the year 2020, Everbridge clients have utilized its SaaS (software-as-a-service) platform to send more than 5 billion communications, with a 30% rise over the number of communications in 2019. Also, the company has received a novel patent related to its first-class Public Warning system, which at present serves the whole populations of 11 nations in the Middle East, Asia, Europe, Oceania, Africa, and the America. The patent relates to a multimedia-capable platform that offers traditional text alerts with the help of Cell Broadcast (CB) as well as multimedia content like images, audio, and video with the help of Multicast Content Distribution (MCD).

In December 2020, NIEM (National Institute of Event Management) in Mumbai, which is the Asia’s first event management organization, has completed 20 years of a magnificent period of triumph and service in the Indian event management industry.

Has the Covid-19 Pandemic made any Impact on the Event Industry?

The deadly COVID-19 pandemic has made a negative impact on the global events industry. This is because not even a single event was organized amidst the pandemic crisis for avoiding social contact and averting the spread of the disease. Owing to the strict government rules and implementation of lockdown in various regions most of the businesses and all activities were halted. Furthermore, rise in the virtual events by most of the businesses and individuals has opened doors to novel opportunities for the event industry players during the pandemic crisis.

What is the Future Panorama of the Events Industry?

Since ages, the events industry has played a crucial part in communications and marketing for non-profit organizations, brands, government bodies, and individuals. Also, the opening of various career opportunities in the event sector are likely to propel the market growth. Hence, it is indeed right to say that the upward growth curve of the events industry is going to endure for long in the coming years. This clearly states that the events industry is sure to witness bright future in the near future.

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