"Event organizers are increasingly focusing on
reducing the environmental impact of their events by implementing
sustainable practices. This includes using eco-friendly materials,
minimizing waste, choosing sustainable venues, promoting digital
ticketing and communication to reduce paper use, and offering
plant-based catering options."
WILMINGTON, Delaware,
July 22, 2024 /PRNewswire/ -- Allied
Market Research published a report, titled, "Events
Industry Market by Type (Music Concert, Festivals, Sports,
and Others), and Organizer (Sports, Entertainment, and Others):
Global Opportunity Analysis and Industry Forecast, 2024-2035".
According to the report, the "events industry market" was valued at
$438.8 billion in 2023, and is
estimated to reach $819.1 billion by
2035, growing at a CAGR of 5.4% from 2024 to 2035.
Download Sample Pages of Research Overview:
https://www.alliedmarketresearch.com/request-sample/2422
Prime determinants of growth
In the past few decades, global economies have been seeking ways
to utilize the potential of youth in entrepreneurship, and start-up
ventures. Various events & programs such as seminars,
conferences, entrepreneurship programs, fora, and others are
organized to offer guidelines and solutions for the youth.
Different countries organize and invest in various programs to see
whether students can leverage untapped business opportunities. The
increase in the number of attendees at business seminars and proper
counseling programs has enabled youth to convert their innovative
business ideas into viable plans.
Moreover, advancements such as online booking, phone calls,
emails, and video conferences have made communication and
transactions significantly cost-effective and easy in real time.
Apart from the change in approach and purpose in event management,
technology has been a key turning point in the evolutionary process
of event management. In addition, digital evolution has introduced
various creative ways to reach a wide customer base for events.
Smartphones, desktop apps, and mobile apps have made events
efficient and manageable.
Report Coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2035
|
Base Year
|
2025
|
Market Size In
2023
|
$438.8
Billion
|
Market Size In
2035
|
$819.1
Billion
|
CAGR
|
5.4 %
|
No. Of Pages In
Report
|
225
|
Segment
Covered
|
Type, Organizer, And
Region
|
Drivers
|
Increase In Sponsorship
For Events
Rise In Interest Among
Youth In Entrepreneur & Business Seminars
Rise In Disposable
Income
|
Opportunities
|
Technological
Advancements
|
Restraints
|
High Operational Costs
Involved In Organizing Events
Entry Barriers Due To
Presence Of Existing Giant Players
|
Procure Complete Report (225 Pages PDF with Insights, Charts,
Tables, and Figures): https://tinyurl.com/2bfz2rxc
Sports segment to maintain its leadership status throughout
the forecast period
By type, the sports segment held the major share of the market
share in 2023, accounting for more than two-fifths of the global
event industry market, and is estimated to maintain its leadership
status throughout the forecast period. It has been witnessed that
sports events have become more commercial over the last two
decades. Thus, sports serve as a significant marketing
advertisement opportunity for event management companies, which
sponsor these events.
Festivals was the fastest-growing segment of the market in 2023.
Giant players operating in the market sponsor such events to create
awareness among consumers about their products & services,
which fuels the growth of the global market.
Entertainment segment to retain its dominance by 2035
By organizer, the entertainment segment held the major share of
the market in 2023, accounting for more than half of the global
event industry market, and is estimated to maintain its leadership
status throughout the forecast period. The entertainment industry
includes club festivals, which involve music conferences and
international music professionals. Entertainment events not only
include parties but also conferences for businesses. Such
conferences involve performing artists and speakers from across the
world to network and exchange ideas.
Sports was the fastest-growing segment of the market in 2023.
Food stalls and merchandise available at stadiums serve as major
sources of generating revenue. Therefore, sports are an important
platform that generates high revenue, thereby supplementing the
growth of the events industry.
Europe to maintain its
dominance by 2035
By region, Europe held the
highest market share in terms of revenue in 2023, accounting for
more than half of the global event industry market. The events
industry in Europe, as in
North America, is robust and
mature. Planners in Germany and
Spain anticipate the highest
increase in activity, with most types of meetings increasing in
both numbers and attendees. In Europe, demand for events witnessed
significant growth owing to companies being more prudent about
their spending and therefore not traveling too far afield for
meetings.
North America was the
fastest-growing region of the market in 2023. New strategies such
as open booking are gaining increased popularity among business
travelers, due to an increase in the adoption of smartphones, which
is expected to further boost the market growth.
Want to Access the Statistical Data and Graphs, Key Players'
Strategies:
https://www.alliedmarketresearch.com/purchase-enquiry/2422
Leading Market Players
- Access Destination Services, LLC
- Cvent Holding Corp.
- CL Events
- DRPG Group
- Anschutz Entertainment Group
- ATPI Ltd.
- Capita Plc.
- BCD Group International BV
- Clarion Events Limited
- Evenbrite
- Live Nation.
The report analyzes these key players in the event industry
market. These players have adopted various strategies such as
expansion, new product launches, partnerships, and others to
increase their market penetration and strengthen their position in
the industry. The report helps determine the business performance,
operating segments, developments, and product portfolios of every
market player.
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every data presented in the reports published by us is extracted
through primary interviews with top officials from leading
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methodology includes deep online and offline research and
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