Events Industry Market Analysis

Global Events Industry Market Overview

Events Industry Market Size was valued at USD 1204.5 Billion in 2022. The Events Industry market industry is projected to grow from USD 1346.6 Billion in 2023 to USD 3286.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2023 - 2032). Rising demand for experiential marketing, as well as an increase in corporate and commercial events, are the primary market drivers boosting the market expansion.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Events Industry Market Trends

• Rising demand for experiential marketing is driving the market growth

The events sector has been significantly impacted by the growing desire for experiential marketing, which has changed how brands interact with their target customers. Creating immersive and interactive brand experiences that create a lasting impression on consumers is known as experiential marketing, often referred to as engagement or live marketing. Due to its success in boosting brand loyalty, developing emotional connections, and changing customer behavior, this strategy has grown in popularity. To address the increased demand from both companies and consumers, event planners and marketers are increasingly adding experiential marketing methods into their events.

Consumers are continuously inundated with commercials and sales messages in the digital age, which causes ad fatigue and reduces the efficiency of conventional marketing methods. By giving customers engaging, memorable experiences that speak to them personally, experiential marketing offers a welcome shift. This emotional bond increases brand recall and has a beneficial impact on purchasing choices.

Brands may present their goods and services in an interesting and participatory way through experiential marketing. Brands have the option of letting customers feel the advantages and features of their products rather than just providing information about them. As customers are more inclined to believe in the worth and quality of a product after experiencing it for themselves, this strategy helps to establish trust and credibility. Experiential marketing also promotes social networking and word-of-mouth advertising. People are more inclined to share their great and memorable experiences at an event on social media sites like Facebook, Instagram, and Twitter. The fact that this user-generated material reaches a wider audience and is viewed as more authentic than conventional advertising makes it a potent weapon for brands. An experience marketing campaign can greatly increase its impact and efficacy by going viral through social media sharing. Thus, driving the Events Industry market revenue.

Events Industry Market Segment Insights

Events Industry Type Insights

The Events Industry Market segmentation, based on type, includes music concert, festivals, sports, exhibitions and conferences, corporate events and seminars & others. The corporate events and Seminars segment dominated the market in 2022. The segment is motivated by the requirement for ongoing skill development and learning. Attending seminars, workshops, and conferences allows professionals to stay current on the newest market trends, best practices, and innovations.

Events Industry Revenue Source Insights

The Events Industry Market segmentation, based on revenue source, includes ticket sale, sponsorship, & others. The sponsorship category generated the most income in 2022. Sponsors want for brand exposure and visibility within a certain target market that fits with their advertising objectives. Events give sponsors the chance to present their company, goods, or services to a captive audience in a timely and interesting setting.

Events Industry Organizer Insights

The Events Industry Market segmentation, based on organizer, includes corporate, sports, education, entertainment & others. The entertainment segment dominated the market in 2022. Gaming events have grown to be an important component of the entertainment business as a result of the popularity of video games and esports. Gaming lovers, business executives, and players from all over the world congregate at conventions, expos, and esports competitions.

Events Industry Age Group Insights

The Events Industry Market segmentation, based on age group, includes below 20 years, 21-40 years and above 40 years. The 21-40 years segment dominated the market in 2022. This age group seeks for distinctive and memorable experiences that they can share with friends and on social media, placing a higher value on experiences than tangible goods. This group is more likely to attend and participate in events that feature immersive, interactive, and experience features.

Figure 1: Events Industry Market, by age group, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Events Industry Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Europe Events Industry market dominated this market in 2022 (45.80%). Events like music festivals, art exhibits, historical reenactments, and customary celebrations all benefit from Europe's rich cultural legacy. Due to its lengthy history and rich artistic heritage, the continent serves as a global center for cultural activities. Further, the German Events Industry market held the largest market share, and the UK Events Industry market was the fastest growing market in the European region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: EVENTS INDUSTRY MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Asia-Pacific Events Industry Market accounts for the second-largest market share. There are many different cultures, languages, and traditions in the Asia Pacific region, which is highly diverse. Numerous occasions, such as religious festivals, cultural fairs, and traditional rites, show this diversity. Moreover, China’s Events Industry market held the largest market share, and the Indian Events Industry market was the fastest growing market in the Asia-Pacific region.

The North America Events Industry Market is expected to grow at the fastest CAGR from 2023 to 2032. Numerous industry-specific events are held in North America, including technology conferences in Silicon Valley, film festivals in Hollywood, and gaming expos in Los Angeles. Strong industry clusters in the area offer favorable conditions for specialist events. Further, the U.S. Events Industry market held the largest market share, and the Canada Events Industry market was the fastest growing market in the North America region.

Events Industry Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Events Industry market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Events Industry industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Events Industry industry to benefit clients and increase the market sector. In recent years, the Events Industry industry has offered some of the most significant advantages to medicine. Major players in the Events Industry market, including Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd, and Versatile Event Management and others, are attempting to increase market demand by investing in research and development operations.

A live entertainment firm called Live Nation Entertainment Inc. (Live Nation) organizes live music performances all over the world. Its offerings include concert promoters, sponsors, professional sports franchises, leagues, and advertising. It also operates and manages music venues and sells tickets for events on behalf of its clients. The Fillmore in San Francisco, the Hollywood Palladium, the Brooklyn Bowl, the Ziggo Dome in Amsterdam, and the 3Arena in Ireland are among the House of Blues music venues that Live Nation owns, runs, and has equity interests in. Asia, Europe, and the Americas are where the business is active. The headquarters of Live Nation are in Beverly Hills, California, in the US.

Services for managing customers and corporate processes are offered by Capita Plc (Capita). The business provides recruitment services, consulting services, education services, software solutions, networks solutions, government services, pension services, and IT services. Additionally, it provides services for the cloud, cyber security, digital connection, management information systems, and robotic process automation. The business offers its services to the actuarial, financial, healthcare, housing, justice and policing, public safety, retail, banking, telecoms, media and technology, transportation, utilities, and welfare and employability sectors. It operates in Ireland, India, China, the United Kingdom, the United States, South Africa, the United Arab Emirates, Germany, Switzerland, and Poland. The UK's and Greater London's Capita headquarters are located there.

Key Companies in the Events Industry market include

• Access Destination Services


• BCD GROUP (BCD MEETINGS & EVENTS)


• ATPI Ltd.


• Riviera Events


• Entertaining Asia


• Live Nation Worldwide Inc.


• StubHub


• Anschutz Entertainment Group


• Pollstar


• Cvent Inc.


• Capita Plc.


• Reed Exhibitions


• Questex LLC


• Outback Concerts


• The Freeman Company


• Penguins Limited


• CL Events


• Seven Events Ltd.


• Clarion Events Ltd


• Versatile Event Management

Events Industry Industry Developments

May 2023: A four-day engineering expo at the Auto Cluster Exhibition Centre in Pune was announced by Globe-Tech Media Solutions. The Engineering Expo seeks to unite creative and dynamic stakeholders from the engineering and manufacturing sectors, giving business owners and professionals a singular chance to network and learn about the most recent developments in the industry.

April 2023: An exhibition for fashion designers covering men's, women's, and children's clothing will be held in Indore at the Radisson Blu. The goal of the show was to close the gap between well-known designers and tier 2 cities so that consumers could learn about new brands and businesses could reach new customer groups.

Events Industry Market Segmentation

Events Industry Type Outlook

• Music Concert


• Festivals


• Sports


• Exhibitions and Conferences


• Corporate Events and Seminars


• Others

Events Industry Revenue Source Outlook

• Ticket Sale


• Sponsorship


• Others

Events Industry Organizer Outlook

• Corporate


• Sports


• Education


• Entertainment


• Others

Events Industry Age Group Outlook

• Below 20 Years


• 21-40 Years


• Above 40 Years

Events Industry Regional Outlook

• 
  North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America