Market Research Future (MRFR) has published on the “Global Events Industry Market”.
The Events Industry market is estimated to register a CAGR of 11.80% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Events Industry market— 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.
The global events industry market is accounted to register a CAGR of 11.80% during the forecast period and is estimated to reach USD 3286.87 Billion by 2032.
Increased government and private sponsorships, quick developments in the event management sector, and an increase in the number of trade fairs, exhibits, and creative product launches are all driving revenue growth in the events business. Other factors projected to increase worldwide market revenue include fast digitization, high Internet and social media penetration, and growing demand for event management services such as hosting, ticket buying, event assessment, location scouting, and catering.
The global events industry market has been segmented into type, revenue, organizer, and age group.
On the basis of type, the market is segmented into music concert, festivals, sports, exhibitions and conferences, corporate events and seminars & others. The corporate events and seminars segment dominated the market in 2022. The need for continuous skill improvement and learning serves as the segment's driving force. Professionals can stay up to date on the most recent market trends, best practices, and innovations by attending seminars, workshops, and conferences.
Based on revenue, the global events industry market has been segmented into source, includes ticket sale, sponsorship, & others. The sponsorship category generated the most income in 2022. Sponsors want their brands to be seen and heard in a specific target market that aligns with their marketing goals.
Based on organizer, the global events industry market has been segmented into corporate, sports, education, entertainment & others. The entertainment segment dominated the market in 2022. Because of the popularity of video games and esports, gaming events have become a significant part of the entertainment industry.
Based on age group., the global events industry market has been segmented into below 20 years, 21-40 years and above 40 years. The 21-40 years segment dominated the market in 2022. This age group places a larger value on experiences than material products, looking for unique and memorable events that they can share with friends and on social media.
Access full repot @ https://www.marketresearchfuture.com/reports/events-industry-market-12035
The global events industry market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Events Industry market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Events Industry market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Events Industry market comprises of Middle East, Africa, and Latin America.
The North America events industry market is expected to grow at the fastest CAGR from 2023 to 2032. North America has a wide range of industry-specific events, such as technology conferences in Silicon Valley, film festivals in Hollywood, and gaming expos in Los Angeles. The region's robust industry clusters provide ideal circumstances for specialized events.
Moreover, Europe events industry market dominated this market in 2022 (45.80%). The rich cultural heritage of Europe is beneficial to a variety of events, including music festivals, art exhibitions, historical reenactments, and traditional holidays. The continent acts as a hub for cultural activity on a worldwide scale because of its lengthy history and extensive artistic legacy.
Additionally, the second-largest market share belongs to the Asia-Pacific events industry market. The Asia Pacific region is very diverse and contains many different cultures, languages, and traditions. This diversity is displayed on numerous occasions, including religious holidays, cultural fairs, and ancient rites.
Furthermore, the rest of the world's events industry market is divided into the Middle East, Africa, and Latin America. The events industry in Latin America has flourished, benefiting from an upsurge in corporate and social events. Improved infrastructure, attractive destination choices, and rising interest in experiential marketing have contributed to the sector's expansion.
Key Findings of the Study