Event Logistics Market is expected to reach US$ 122.20 billion by 2031

PRESS RELEASE BY The Insight Partners 21 May 2024

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Increasing Spending on Healthcare-Related Services Fueling Event Logistics Market Growth

According to our latest market study on "Event Logistics Market Forecast to 2031 – Global Analysis – by Type and End User," the market was valued at US$ 75.86 billion in 2023 and is expected to reach US$ 122.20 billion by 2031. It is expected to register a CAGR of 6.1% from 2023 to 2031. The report includes growth prospects in light of current event logistics market trends and driving factors influencing the market growth.

Event logistics refers to the planning and control of technical and logistical support services and solutions that ensure the smooth progression of an event. Important elements of event logistics include venue, catering, transportation, merchandise, troubleshooting team setup, and presentation technology. Event logistics are developed in accordance with the event activities scheduled on a particular date and time. It is an important part of the event management industry, which ensures event managers manage events efficiently by breaking down the events into different stages. Each event has its own logistical requirements, tasks, and operational processes, including securing your venue, planning event schedules, planning entry and exit flow, and staffing for success.

The rising number of corporate events, sports events, cultural events, entertainment events, and other events fuels the demand for event logistics services. In addition, the rise in event participation of companies for launching new products, improving business relations, gaining opportunities in the industry, and increasing investments in the event industry are a few of the key drivers in the event logistics market. Moreover, technological advancements in the event logistics industry, such as transport management systems and warehouse management systems to optimize shipping transport operations and efficient warehouse management, are expected to fuel the event logistics market growth during the forecast period.

Event Logistics Market Share — by Region, 2023

Event Logistics Market Share — by Region, 2023

Event Logistics Market Size, Growth, Share by 2031

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Event Logistics Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Inventory Management, Delivery Management, Freight Forwarding, Pallets and Packaging Services, and Others), End User (Media and Entertainment, Sports Events, Corporate Events and Trade Fairs, Cultural Events, and Others), and Geography

Source: The Insight Partners Analysis

Challenges such as coordination with multiple vendors, large crowd control, handling transportation logistics, and emergency planning in case of unforeseen circumstances are the key restraining factors in the event logistics market. Increasing adoption of sustainable solutions in pallets and packaging, freight forwarding, and inventory management is expected to be the key opportunity for players operating in the event logistics market worldwide. Furthermore, a rise in corporate events and trade shows or exhibitions in the highly growing construction & renewable energy industry is expected to be the key future trend in the event logistics market from 2023 to 2031.

The event logistics market analysis has been performed by considering the following segments: type and end user. Based on type, the freight forwarding segment accounted for the majority of the market share in 2023, and it is predicted to continue its dominance over the forecast period. Based on end user, the corporate events & trade fair/shows segment dominated the event logistics market in 2023, and it is also expected to continue its dominance during the forecast period.  

The event logistics market report comprises five major regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2023, Europe accounted for the largest event logistics market share and is likely to retain its dominance during the forecast period as well. However, Asia Pacific is expected to witness strong growth during the forecast period. It is likely to record a CAGR of 7.3% from 2023 to 2031.

The Europe event logistics market is mainly supported by the presence of a large number of event logistics companies such as Kuehne+Nagel, DHL, DEKRA, GEODIS, HEED-Logistics, Hamburg Messe + Congress, Target Motivation, Sport & Events Logistics Srl, Genius Eventi Srl, WES Logistics, and Event Logistics Team srl. These vendors are constantly catering to the demand generated from corporate events/trade fairs, sports events, and media & entertainment events in the region. Among the mentioned event logistics vendors, a few of the companies such as DHL, GEODIS, and Kuehne+Nagel are top companies in the logistics industry worldwide, which makes Europe a prominent region for the event logistics industry. These companies are constantly working with their respective customers to understand their demands and provide them with reliable/desirable solutions. Further, Europe is likely to host more than 16,000 trade fairs in 2024, which is likely to provide huge opportunities for market vendors operating in the Europe event logistics market.

The North America event logistics market is categorized into the US, Canada, and Mexico. The US accounted for the largest share of the market, followed by Canada and Mexico in 2024. A few of the major companies that operate in the North America event logistics market include vendors such as Clublogic, Event Logistics Inc, Kuehne+Nagel, Gefco, Ceva Logistics, DB Schenker, and DHL International GmbH. These companies are constantly working to understand the market demands and cater to the different requirements of their respective customers to remain competitive in the market for event logistics. Further, the majority of the demand for event logistics in North America is mainly driven by corporate events/trade fairs; sports events, including rugby/basketball/soccer/baseball etc.; and music concerts organized across different countries in the region. Further, in 2024, North America is likely to host more than 1,700 corporate events/trade fairs across the US, Canada, and Mexico, which is expected to bolster the market for event logistics in the region in the coming years.

Asia Pacific is likely to register fastest-growing CAGR of 7.3% from 2023 to 2031. This is mainly due to the rising number of corporate and sports events across different countries in the region. India, Japan, and China are among the top highly populated countries in the world, which makes them highly suitable for business investments. This is the main reason behind the rising number of FDI investments across such countries for the establishment of new businesses. Such factors are boosting the number of companies operating in Asia Pacific and driving the demand for corporate events. These factors are likely to contribute to the growing event logistics market size in Asia Pacific in the coming years.  

DSV A/S, C H Robinson Worldwide Inc, CEVA Logistics, DB Schenker, DHL International GmbH, FedEx, Kuehne + Nagel, Rhenus Group, United Parcel Service of America Inc, and XPO Logistics Inc are among the prominent players profiled in the event logistics market report. R&D activities for new technology development and strategic alliances with other firms through partnerships and mergers & acquisitions are among the key business strategies adopted by companies in the event logistics market.

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