NEW YORK, Feb. 7, 2025 -- Report on how AI is redefining market landscape - The global events industry market size is estimated to grow by USD 1.07 trillion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 13.5% during the forecast period. Rise in number of corporate events is driving market growth, with a trend towards growing popularity of events in education. However, emerging threat from open-source virtual events solutions poses a challenge. Key market players include Access Destination Services, Anschutz Entertainment Group Inc., ATPI Ltd., BCD Travel Services BV, CL EVENTS AND WEDDINGS, Clarion Events Ltd., CS Ellis, Cvent Holding Corp., DRP Holdings Ltd., Entertaining Asia Ltd., Event Rhythm, Group Seven Events Ltd., Liberty Media Corp., Questex Media Group LLC, Regpack Inc., RELX Plc, Riviera Events, Theism Events, and The Freeman Co..
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Forecast period | 2025-2029 |
Base Year | 2024 |
Historic Data | 2019 - 2023 |
Segment Covered | Type (Corporate events and seminar, Music concert, Festival, Sports, and Others), Source (Sponsorship, Ticket sale, and Others), Geography (Europe, North America, APAC, Middle East and Africa, and South America), Revenue Type (Ticket Sale, Sponsorship, Food and Beverage, Advertising, Merchandise Sales, Membership Fees, Participation Fees, Media and Licensing Revenue, and Others), Age Group (Below 20 Years, 21 to 40 Years, and Above 40 Years), and Event Location (Tier 1 Cities, Tier 2 Cities, and Tier 3 Cities) |
Region Covered | Europe, North America, APAC, Middle East and Africa, and South America |
Key companies profiled | Access Destination Services, Anschutz Entertainment Group Inc., ATPI Ltd., BCD Travel Services BV, CL EVENTS AND WEDDINGS, Clarion Events Ltd., CS Ellis, Cvent Holding Corp., DRP Holdings Ltd., Entertaining Asia Ltd., Event Rhythm, Group Seven Events Ltd., Liberty Media Corp., Questex Media Group LLC, Regpack Inc., RELX Plc, Riviera Events, Theism Events, and The Freeman Co. |
Key Market Trends Fueling Growth
The Events Industry encompasses a wide range of public gatherings, from business objectives such as conferences, exhibitions, seminars, and corporate events, to celebrations of achievements and entertainment. This industry caters to diverse audiences, including corporate organizations, public entities, and non-governmental organizations (NGOs). Events serve various purposes, such as promotions, fundraising initiatives, sports events, festivals, and trade shows. Business events, like conferences and exhibitions, provide a hands-on learning environment for participants, fostering discussions, interactions, and knowledge exchange. They offer significant financial burdens with intricacies like venue costs, event rentals, entertainment expenses, and production costs. Music performances and art performances are integral to the entertainment industry, with music concerts, music festivals, and music conferences featuring international music professionals and performing artists. The sports sector includes sports events, professional sports organizations, and fantasy sports, with telecasting/broadcasting rights and sports sponsorships playing crucial roles. Virtual events and hybrid events have gained popularity in the digital evolution, allowing for cost-effective, easily accessible experiences through smartphones, desktop apps, and mobile apps. Event logistics, registration, ticketing processes, and attendee experiences are essential components of event organization, ensuring customer satisfaction and real-time communication tools. The Events Industry is segmented into various sectors, including corporate events & seminars, music & art performances, sports competitions, and public organizations & NGOs. Event sponsorships are essential for businesses seeking brand loyalty, customer engagement, and positive impressions. Overall, the industry continues to evolve, with emerging technologies and event management companies adapting to societal needs.
Virtual events in the education sector are gaining popularity as an effective and cost-efficient method for delivering training sessions. These events allow students to access learning materials from qualified instructors at their convenience, regardless of location. Virtual classrooms utilize game dynamics to maintain student engagement and develop time management skills. Additionally, conferencing features enable interactive sessions between students and faculty members, while social media integration enhances networking opportunities. This innovative approach to education reduces expenses and broadens access to quality instruction.
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Market Challenges
- The Events Industry encompasses public gatherings for business objectives, celebrations of achievements, entertainment, and support for community causes. This industry includes conferences, exhibitions, corporate events, seminars, promotions, fundraising initiatives, sports events, festivals, trade shows, and more. Corporate organizations, public entities, and non-governmental organizations (NGOs) host these events for diverse audiences to meet societal needs. Business events offer a hands-on learning environment, discussions, interactions, and knowledge exchange. They aim for financial profitability and positive impressions. Challenges include significant expenditures, intricacies, and communication complexities. The Entertainment Industry intertwines with Events, featuring music concerts, art performances, and sports events. Virtual events, hybrid events, and sponsorships are increasingly popular. Event organization involves event planning, registration, ticketing processes, attendee experiences, and customer satisfaction. Digital evolution impacts the industry with smartphones, desktop apps, and mobile apps. Real-time communication tools, internal processes, international collaborations, and event logistics are essential. The Events Industry is segmented into B2B, B2C, large enterprises, and various event types like corporate events & seminars, music & art performances, and sports competitions.
- Open-source virtual events pose a significant challenge to commercial enterprise virtual event vendors due to their cost-effectiveness. These software solutions can be downloaded and used on various platforms without any purchasing or licensing fees. Open-source options, such as OpenSim, VirtualBox, and Xen Project, offer basic features comparable to proprietary virtual events. Micro and small-scale enterprises, as well as individual users, prefer open-source virtual events for their affordability. The availability of these free alternatives limits the market for proprietary virtual event providers.
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Segment Overview
This events industry market report extensively covers market segmentation by
- Type
- Corporate Events And Seminar
- Music Concert
- Festival
- Sports
- Others
- Source
- Sponsorship
- Ticket Sale
- Others
- Geography
- Europe
- North America
- APAC
- Middle East And Africa
- South America
- Revenue Type
- Ticket Sale
- Sponsorship
- Food And Beverage
- Advertising
- Merchandise Sales
- Membership Fees
- Participation Fees
- Media And Licensing Revenue
- Others
- Age Group
- Below 20 Years
- 21 To 40 Years
- Above 40 Years
- Event Location
- Tier 1 Cities
- Tier 2 Cities
- Tier 3 Cities
1.1 Corporate events and seminar- The corporate events and seminars segment of the events industry market is experiencing notable growth due to the complete digitization of core event management processes and the increasing importance of customer-centricity. This segment caters to end-users like private organizations, businesses, corporations, trading associations, educational institutions, and political parties. By outsourcing event planning, these organizations can reduce operational costs by approximately 30%. Services provided include research, venue selection, hotel reservations, transportation, food and entertainment arrangements, site visits, and event execution. Despite this growth, the market share of the corporate events and seminars segment is decreasing due to the expansion of other industries, such as corporations, music, and concerts. Nevertheless, professional development conferences, strategic planning meetings, and annual shareholder meetings continue to contribute significantly to the overall growth of the corporate events and seminars segment. These factors are expected to fuel the expansion of the global events industry market throughout the forecast period.
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Research Analysis
The Events Industry encompasses a vast array of public gatherings, each with unique business objectives. From celebrations of achievements and entertainment to support for community causes, conferences, exhibitions, corporate events, seminars, promotions, and fundraising initiatives, Events serve various purposes. Business profitability is a significant factor, with transactions taking place through online booking and phone calls. Time and place are crucial elements, ensuring smooth execution and maximum impact. Music and art performances, sports, festivals, and trade exhibits cater to diverse populaces. The Events Industry is a dynamic and vibrant sector, bringing people together for a myriad of reasons.
Market Research Overview
The Events Industry encompasses a wide range of public gatherings, serving various business objectives and societal needs. These events include celebrations of achievements, entertainment spectacles, support for community causes, conferences, exhibitions, corporate events, seminars, promotions, fundraising initiatives, sports events, festivals, trade shows, and more. Participants engage in discussions, interactions, and learning opportunities, while organizers manage the intricacies and significant expenditures. Business entities, public organizations, non-governmental organizations (NGOs), and diverse audiences come together in this vibrant sector. Events serve various purposes, from knowledge exchange and networking to marketing and brand loyalty. The entertainment industry, including music concerts, art performances, and sports, plays a significant role. Virtual events, hybrid events, and sponsorships have become increasingly popular, with organizers leveraging software, platform, and B2B/B2C organizations for cost-effective and easily accessible solutions. Real-time communication tools and digital evolution facilitate seamless event logistics, registration, ticketing processes, and attendee experiences. The Events Industry caters to large enterprises, professional sports organizations, and international collaborations, with various segments, including corporate events & seminars, conferences & exhibitions, promotion & fundraising, music & art performances, and sporting competitions. Overall, the industry continues to evolve, adapting to emerging technologies and the ever-changing needs of its diverse clientele.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
- Corporate Events And Seminar
- Music Concert
- Festival
- Sports
- Others
- Source
- Sponsorship
- Ticket Sale
- Others
- Geography
- Europe
- North America
- APAC
- Middle East And Africa
- South America
- Revenue Type
- Ticket Sale
- Sponsorship
- Food And Beverage
- Advertising
- Merchandise Sales
- Membership Fees
- Participation Fees
- Media And Licensing Revenue
- Others
- Age Group
- Below 20 Years
- 21 To 40 Years
- Above 40 Years
- Event Location
- Tier 1 Cities
- Tier 2 Cities
- Tier 3 Cities
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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