Events Industry Size, Share & Growth | Global Report by 2028

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Events Industry Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Event Type (Virtual, Hybrid, and Physical), Revenue Source (Ticket Sale, Sponsorship, and Others), Type (Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others), Organizer (Corporate, Sports, Education, Entertainment, Association, and Others), Application (B2B and B2C), and Enterprise Size (Small and Medium Enterprises and Large Enterprises)

Publication Month: May 2022 | Report Code: TIPRE00029050 | No. of Pages: 244 | Category: Technology, Media and Telecommunications | Status: Published

The global Events industry market share is expected to grow from US$ 958.54 billion in 2021 to US$ 1,965.99 billion by 2028. Events industry market size is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

Events are public gatherings of the general public at a specific time and location. The goal of hosting an event can be anything from increasing corporate profitability to celebrating, entertaining, and supporting community concerns. Conferences and exhibitions, business events and seminars, marketing and fundraising, music and art performances, sports, festivals, trade exhibits, and product launches are among the most popular events. Corporate organizations, public organizations, and associations are key stakeholders in the events industry market

Sponsors are considered the backbone of the event industry since they are the initial source of money to conduct events. With the rising number of sponsors worldwide, the global events industry market size is expanding substantially. Big corporate houses host multiple events every year according to their calendar, and their annual event calendar has a large estimation. Corporate houses contribute significantly to the market's growth by allowing event companies to arrange events for them.

Events Industry Market : Strategic Insights

Report Coverage - Events Industry Market
Report CoverageDetails
Market Size Value inUS$ 958.54 Billion in 2021
Market Size Value byUS$ 1,965.99 Billion by 2028
Growth rateCAGR of 11.1% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages244
No. of Tables197
No. of Charts & Figures121
Historical data availableYes
Segments coveredEvent Type, Revenue Source, Type, Organizer, Application, and Enterprise Size
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Events Industry Market

The global lockdown due to the COVID-19 pandemic caused a modest slowdown in the events industry market growth in 2020. With the enormous number of people working from home and spending more time online, day and night, the pandemic has accelerated the shift to digital. The increasing demand for digital resources is stressing the systems of many software and platform organizations, inhibiting their ability to deliver services with quality and reliability. Since the outbreak's start, the popularity of virtual events has risen, which is led by the increasing demand for mobility solutions by a range of key stakeholders, including associations, professional meeting organizers, company executives, marketing managers, product management, and human resources, and more. However, the pandemic negatively impacted the events industry market growth due to the cancellation of various sporting events, exhibitions, prominent festivals, concerts, weddings, and others to curb the spread of the COVID-19 virus.

Virtual events have been around for a long time before the COVID-19, and they will continue the same way. However, the popularity of virtual events has increased during the pandemic. Many industries that were thriving before the pandemic, have faced significant revenue losses and contracted in terms of their market growth. Several companies across multiple industries have already declared bankruptcy or were forced to lay off significant portions of their staff.

Naturally, one of the worst affected by the pandemic was the events industry. Due to this lockdown situation, virtual event software providers face increasing demand worldwide. Therefore, although in 2020, the global events industry market plummeted initially due to the adverse impact of the pandemic and the related regulations, it remarkably recovered with the rise in the uptake of virtual and hybrid events globally.

Lucrative Regions for Events Industry Market

Lucrative Regions for Events Industry Market

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Market Insight

Rapid Increase in Events Sponsorship

Over the last 50 years, the relevance and popularity of sports have given rise to a new business, the sports industry. Much of the success of fantasy sports is due to effective customer relationship management (CRM). Customer loyalty and retention increase if a supplier can give rapid, accurate, and informative information to its customers. Professional sports organizations cannot run successfully without funds earned from commercial operations, major sporting events have become an essential component of global business, and sports sponsorship has expanded. Sports organizations rely on the sale of telecasting/broadcasting rights, sponsorship money, and ticket sales to organize sporting events.

Sports have become more commercialized, generating more promotion and sponsorship. Businesses that participate in sponsorship programs gain recognition for their brands and expand their footprints. On the other hand, sponsoring firms get both concrete and intangible advantages, such as increased brand exposure and presenting a favorable picture of the company to stakeholders.

Businesses may benefit from sponsorship by increasing awareness regarding their products and services among consumers, using modern advertising, and differentiating their brands from others. Sports sponsorship is a smart and diverse marketing strategy that offers organizations a lot of possibilities. Sponsorships enable businesses to engage with international clients beyond national borders, and they use these programs to achieve various corporate goals and marketing initiatives.

Event Type Segment Insights

Events industry market analysis by event type, the events industry market is segmented into virtual, hybrid, and physical. The hybrid event is the fastest-growing segment during the forecast period due to hybrid events can take on various forms, depending on the event style and target demographic.

Events Industry Market, by Event Type (% Share)

Events Industry Market, by Event Type (% Share)

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Revenue Source Segment Insights

Events industry market analysis by revenue source, the market is segmented into ticket sale, sponsorship, and others. Sponsorship source of revenue is the fastest-growing segment due to unlimited opportunities the organizers find to broaden their competitive advantage. Moreover, sponsoring an event increases reach among potential buyers and customers, which drives sales.

Organizer Segment Insights

Based on organizer, the market is segmented into corporate, sports, education, entertainment, and others. The entertainment segment has the highest market share, and they are in charge of selecting sites, hiring caterers, entertainment, and other suppliers to ensure that these events go successfully.

Application Type Segment Insights

Based on application type, the events industry market is segmented into B2B and B2C. B2B is the fastest-growing segment due to B2B events providing a unique and exclusive atmosphere for bringing together a large number of decision-makers in one place.

Enterprise Size Type Segment Insights

Based on enterprise size, the events industry market is segmented into small and medium enterprises and large enterprises. Small and medium enterprises are the fastest-growing segment due to SMEs needing continuous support from the respective country governments to achieve their full potential. At the same time, they need to work on their internal processes, structures, and practices to achieve anticipated market growth.

Type Segment Insights

Based on type, the events industry market is segmented into music concerts, festivals, sports, exhibitions and conferences, corporate events and seminars, and others. Corporate and seminars type is the fast-growing segment due to the rise in the number of corporate companies coupled with frequent seminars and events conducted by them.

The market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In 2022, ATPI is expanding its global reach by adding 13 new service locations in prime areas for its network development.

Events Industry Market – Company Profiles

  • Access Destination Services
  • Anschutz Entertainment Group
  • ATPI Ltd.
  • BCD Meetings & Event
  • Cvent Inc.
  • Entertaining Asia
  • Live Nation Worldwide, Inc.
  • Pollstar
  • Riviera Events
  • StubHub.

Frequently Asked Questions

Sponsors are considered the backbone of the event industry since they are the initial source of money to conduct events. With the rising number of sponsors worldwide, the global events market is expanding substantially. Big corporate houses host multiple events every year according to their calendar, and their annual event calendar has a large estimation. Corporate houses contribute significantly to the market's growth by allowing event companies to arrange events for them.
With the advent of virtual events, planners have expanded their reach and scaled their events to a larger audience. Live translation as part of an event package may give virtual and physical event venues a competitive advantage. Businesses will also be able to collaborate with event planners in places they would not ordinarily go. For instance, Hopin, an event technology platform, has partnered with Interprefy to provide real-time language interpretation straight within their live feeds. QR codes look well on tangible marketing materials, such as event posters, speaker business cards, and postcards for event ticket leads. To close the purchase, they will need a solid landing page; thus, event planners will have to rely on this technology even more than before.
North America dominated the Events Market in 2021.
The APAC area, on the other hand, is expected to develop at the quickest rate throughout the projection period.
According to EventMB's 2021 report, 71% of event planners stated that they would continue to use a digital strategy even after live events return. A Bizzabo study states that 97% of respondents anticipate seeing more hybrid events in the future. Hybrid events combine the reach and flexibility of a virtual event with the intimacy and engagement of an in-person event. Canapii is a hybrid events platform, deployed in mid-2020, which makes it easier to create and arrange hybrid events. Event Tech Live is an example of an event mostly focused on virtual access but includes two live stages. Others, such as the World Travel & Tourism Council's Global Summit in April 2021, are mostly in-person, with information available online. For the next year or two, the hybrid event landscape will most certainly contain a variety of in-person and virtual options.
Access Destination Services; Anschutz Entertainment Group; ATPI Ltd.; BCD Meetings & Events; Cvent Inc.; Entertaining Asia; Live Nation Worldwide, Inc.; Pollstar; Riviera Events; and StubHub are the leading companies in the events market).

The List of Companies - Events Market

  1. Access Destination Services
  2. Anschutz Entertainment Group
  3. ATPI Ltd.
  4. BCD Meetings & Events
  5. Cvent Inc.
  6. Entertaining Asia
  7. Live Nation Worldwide, Inc.
  8. Pollstar
  9. Riviera Events
  10. StubHub
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Events Market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Global Events Market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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