Global Events Industry Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Events industry market is expected to record a CAGR of 12% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 1,190.4 billion. By 2032, the valuation is anticipated to reach USD 1,752.9 billion.

The events industry market refers to the sector encompassing the planning, organization, and management of various types of events. It includes a wide range of events such as conferences, trade shows, exhibitions, corporate meetings, weddings, music concerts, sports events, festivals, and more.

The market encompasses multiple segments, including event planning and management services, venue management, event technology solutions, event marketing and promotion, event registration and ticketing services, and other related services. The events industry market serves as a platform for individuals, organizations, and businesses to host events that bring people together for various purposes, such as networking, knowledge sharing, entertainment, celebration, product launches, and business transactions.

The market involves event organizers, event planners, event technology providers, venue operators, suppliers, exhibitors, sponsors, and attendees. The events industry market is driven by factors such as increasing demand for unique experiences, the need for effective communication and networking, business expansion opportunities, and the desire for entertainment and leisure activities. It plays a vital role in sectors such as business, tourism, hospitality, entertainment, and marketing.

The industry is characterized by constant innovation and adaptation to changing trends and technologies. In recent years, there has been a significant shift towards virtual and hybrid events, driven by advancements in event technology and the impact of the COVID-19 pandemic. Virtual events allow for remote participation and engagement, while hybrid events combine in-person and virtual elements.

Events Industry Market – Significant Growth Factors

The events industry market is influenced by various significant growth factors. Here are some key factors that contribute to the growth of the events industry market:

• Increasing Demand for Experiential Events: There is a growing demand for experiential events that provide unique and immersive experiences for attendees. People seek events that go beyond traditional formats, offering interactive activities, live performances, technology-driven engagement, and personalized experiences.

• Business Networking and Collaboration Opportunities: Events provide valuable networking and collaboration opportunities for businesses and professionals. Attendees can connect with like-minded individuals, industry experts, potential clients, and partners, fostering business relationships and creating opportunities for collaboration and growth.

• Rise in Corporate Events and Conferences: The corporate sector extensively uses events as a platform for product launches, sales meetings, training sessions, industry conferences, and corporate retreats. The need for organizations to communicate their messages, showcase their products or services, and engage with key stakeholders drives the growth of corporate events.

• Growing Importance of Marketing and Branding: Events play a crucial role in marketing and brand building. Businesses use events to enhance their brand image, increase brand visibility, engage with target audiences, and generate leads. Events provide an opportunity to create a memorable brand experience and establish a positive brand perception.

• Increased Focus on Personalization: Attendees today expect personalized event experiences tailored to their interests and preferences. Event organizers are leveraging technology and data to deliver personalized content, agenda customization, networking suggestions, and targeted messaging, enhancing attendee satisfaction and engagement.

• Advancements in Event Technology: The rapid advancements in event technology have revolutionized the industry. Event management platforms, mobile apps, virtual event platforms, live streaming capabilities, augmented reality (AR), and virtual reality (VR) experiences have expanded the possibilities for event organizers and enhanced attendee engagement.

• Growth in Tourism and Destination Events: Tourism and destination events contribute to the growth of the events industry market. Many cities and countries host events to attract tourists, boost their economies, and showcase their cultural, sporting, or entertainment offerings. Destination events generate significant revenue for the hospitality and tourism sectors.

• Impact of Social Media and Influencer Marketing: Social media platforms and influencer marketing have transformed event promotion and attendee engagement. Event organizers leverage social media platforms to create buzz, engage with attendees, and extend the reach of their events. Influencers and social media personalities play a role in driving attendance and enhancing event visibility.

• Demand for Entertainment and Live Performances: Events such as music concerts, festivals, and live performances continue to attract a large audience. The desire for entertainment, live music experiences, and cultural events drives the growth of the events industry, particularly among the younger population.

These significant growth factors contribute to the overall expansion and evolution of the events industry market. Event organizers, technology providers, venues, and other stakeholders need to adapt to these trends and cater to the changing expectations of attendees to capitalize on the growth opportunities in the market.

Events Industry Market – Mergers and Acquisitions

The events industry market has witnessed several mergers and acquisitions in recent years. These strategic moves aim to enhance capabilities, expand market reach, and capitalize on synergies within the industry. Here are some notable mergers and acquisitions in the events industry market:

• Informa PLC and UBM: In 2018, Informa PLC, a multinational events and publishing company, acquired UBM, a leading global business-to-business events organizer. This merger created one of the largest event management companies globally, expanding Informa’s portfolio and market presence across various industry sectors.

• Clarion Events and Global Sources: In 2017, Clarion Events, a UK-based event organizer, acquired Global Sources’ exhibitions and trade show business. This acquisition strengthened Clarion Events’ position in the Asian market and added to its portfolio of trade shows and exhibitions.

• Freeman and Info Salons: Freeman, a global event management company, acquired Info Salons, a leading provider of event registration and attendee management solutions, in 2018. This acquisition allowed Freeman to expand its technology offerings and enhance its ability to deliver integrated event experiences.

• GL Events and AsiaWorld-Expo: GL Events, a global provider of integrated event solutions, acquired a majority stake in AsiaWorld-Expo, a leading exhibition and events venue in Hong Kong, in 2020. This acquisition expanded GL Events’ presence in the Asian market and provided access to a prominent venue for hosting large-scale events.

• MCI Group and Wyndham Jade: MCI Group, a global event management and consulting company, acquired Wyndham Jade, an event and travel management company, in 2017. This acquisition strengthened MCI Group’s presence in the United States and broadened its service offerings in event management and travel solutions.

• Informa PLC and Penton: In 2016, Informa PLC acquired Penton, a leading professional information services company, with a strong focus on events and exhibitions. This acquisition significantly expanded Informa’s presence in North America and added to its portfolio of industry-specific events.

• Hyve Group and Ascential Events: Hyve Group, an international events business, acquired the exhibitions division of Ascential plc in 2018. This acquisition added several prestigious exhibitions, including Cannes Lions and Money20/20, to Hyve Group’s portfolio, strengthening its position in the global events market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Events IndustryMarket	Metaverse Market	Virtual Corporate Events Market
CAGR 12% (Approx)	CAGR 41.2% (Approx)	CAGR 27% (Approx)
US$ 1,752.9 billion by 2032	USD 2,131.6 Billion by 2032	USD 782.91 billion by 2032

Events Industry Market – Significant Threats

While the events industry market presents numerous growth opportunities, it also faces several significant threats. These threats can have an impact on the industry’s performance and require attention from event organizers and stakeholders. Here are some key threats faced by the events industry market:

• Economic Downturns: Economic recessions or downturns can adversely affect the events industry. During challenging economic times, companies and individuals may reduce their event budgets, resulting in lower attendance, sponsorship, and overall event revenue. Uncertain economic conditions can also lead to decreased consumer spending on leisure and entertainment activities, impacting event ticket sales and participation.

• Safety and Security Concerns: Safety and security risks pose a threat to the events industry. High-profile incidents such as terrorist attacks, natural disasters, or public health emergencies can significantly impact attendee confidence and attendance rates. Ensuring robust security measures and emergency preparedness plans are in place is crucial to mitigate these threats.

• Regulatory Compliance: The events industry is subject to various regulations, permits, and licensing requirements. Failure to comply with these regulations, such as health and safety standards, event permits, or accessibility requirements, can lead to legal consequences, reputational damage, and potential event disruptions.

• Technological Disruptions: Rapid advancements in technology can disrupt the events industry. Virtual events, live streaming platforms, and other digital solutions have gained prominence, offering alternative options for attendees and impacting in-person event attendance. Event organizers need to adapt and leverage technology to stay competitive and meet changing attendee expectations.

• Competition and Saturation: The events industry is highly competitive, with numerous events vying for attendee attention and participation. Saturation within specific event sectors or geographic regions can make it challenging to attract and retain attendees, sponsors, and exhibitors. Event organizers need to differentiate their offerings, deliver unique experiences, and stay abreast of industry trends to remain competitive.

• Budget Constraints: Budget constraints can limit the resources available for event planning and execution. Event organizers may face challenges in securing sufficient funding, sponsors, and exhibitors. Tighter budgets can affect the quality of production, marketing efforts, and overall attendee experience.

• Changing Consumer Preferences: Consumer preferences and trends can evolve rapidly, impacting the demand for specific types of events. Shifts in consumer behavior, preferences for virtual or hybrid events, or changes in preferred event formats can pose challenges for traditional event organizers. Staying attuned to changing consumer preferences and adapting event strategies accordingly is essential.

• Environmental Concerns: Increasing awareness of environmental sustainability and climate change has prompted the events industry to address its environmental impact. Event organizers face pressure to adopt sustainable practices, reduce waste, and minimize carbon footprints. Failure to embrace sustainable initiatives can lead to reputational damage and public scrutiny.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 1246.65 Billion
Projected Market Size in 2032	USD 1,752.9 Billion
Market Size in 2022	USD 1,190.4 Billion
CAGR Growth Rate	12% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Revenue Source, Organizer, Age Group and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

Based on Type:

The corporate events & seminars segment held the largest share of the events industry in 2023. This was primarily attributed to the growing number of corporate companies organizing frequent seminars and events. The interactive nature of seminars and events, involving speakers and audiences, further contributed to the increased attendance levels.

By Revenue Source:

In 2023, the sponsorship category emerged as the dominant revenue source in the events industry, capturing the largest market share. Event organizers recognized the extensive opportunities for enhancing their competitive advantage through sponsorship. Sponsoring events provides organizers with increased visibility among potential buyers and customers, resulting in boosted sales.

In terms of age groups, the 21–40 years segment made the most significant contribution in 2023. This was primarily due to the growing interest in attending entrepreneur and business seminars, as well as music concerts and festive gatherings. The younger demographic within this age group showed particular enthusiasm for these events.

Events Industry Market – Regional Analysis

The events industry market exhibits regional variations in terms of market size, growth rates, and key trends. Here is a regional analysis of the events industry market:

• North America: North America holds a significant share of the events industry market. The region is known for hosting a wide range of events, including trade shows, conferences, music festivals, and sports events. Major cities like New York, Las Vegas, and Los Angeles serve as prominent event destinations. The presence of a large number of corporations, strong infrastructure, and high consumer spending contributes to the growth of the events industry in this region.
• Europe: Europe is another key region in the events industry market. Countries such as the UK, Germany, France, and Spain are known for hosting major international events, conferences, and exhibitions. The region benefits from a rich cultural heritage, historical venues, and a strong emphasis on business networking events. Additionally, popular music festivals and sporting events draw large crowds and contribute to the overall growth of the events industry in Europe.
• Asia Pacific: The Asia Pacific region is experiencing rapid growth in the events industry. Countries like China, Japan, India, and Singapore are emerging as key event destinations. Rising disposable incomes, urbanization, and increasing interest in experiential events contribute to the growth of the market in this region. Additionally, the growing popularity of corporate events, trade shows, and technology conferences in countries like China and India drives market expansion.
• Latin America: Latin America offers significant growth potential in the events industry market. Brazil, Mexico, and Argentina are the major contributors to this region. Cultural festivals, music events, and sports tournaments like the FIFA World Cup and Copa America attract both domestic and international attendees. The region’s vibrant culture, scenic locations, and growing tourism industry contribute to the development of the events industry.
• Middle East and Africa: The Middle East and Africa region are witnessing increased investments in the events industry. Dubai, Abu Dhabi, and Doha are popular event destinations known for hosting international conferences, exhibitions, and sports events. The region’s focus on infrastructure development, business tourism, and the rise of mega-events like World Expos contribute to the growth of the events industry.

Key Players in the Events Industry Market:

The events industry encompasses a wide range of sectors, including event planning, event management, venue management, event technology, and more. Here are some key players in the events industry market:

• Cvent: Cvent is a leading global provider of event management software and services. Their solutions cover various aspects of event planning, registration, attendee management, and venue sourcing. Cvent offers a comprehensive suite of tools for both in-person and virtual events.
• Eventbrite: Eventbrite is a popular platform that enables event organizers to create, promote, and sell tickets for a wide range of events. It caters to events of all sizes, from small local gatherings to large conferences and festivals. Eventbrite provides event management features, ticketing services, and marketing tools.
• Informa PLC: Informa is a multinational event and publishing company that organizes and hosts a wide range of industry-specific events and conferences worldwide. They operate in various sectors, including healthcare, finance, technology, and more. Informa’s events cover diverse topics and attract professionals from around the globe.
• Reed Exhibitions: Reed Exhibitions is one of the world’s leading event organizers, hosting a vast portfolio of trade shows, conferences, and exhibitions across multiple industries. They specialize in organizing events that bring together businesses, professionals, and industry experts to facilitate networking and business opportunities.
• Freeman: Freeman is a global event management company that provides services for live and virtual events. They offer a comprehensive range of solutions, including event planning, design, logistics, audiovisual production, and experiential marketing. Freeman works with clients across various industries to create engaging and memorable event experiences.
• Marriott International: Marriott International is a prominent hotel and hospitality company that also operates in the events industry. Their extensive portfolio of hotels and venues worldwide makes them a significant player in hosting conferences, meetings, and other events. Marriott offers event planning services, flexible event spaces, and accommodation options.
• GL Events: GL Events is a global provider of integrated event solutions and services. They specialize in designing, organizing, and managing events, exhibitions, and conferences. GL Events operates in various sectors, including trade shows, sports events, cultural events, and corporate meetings.
• Event Farm: Event Farm is an event marketing and attendee engagement platform. Their software enables event organizers to create personalized event experiences, manage guest lists, track attendee engagement, and analyze event data. Event Farm focuses on enhancing the overall event experience for both organizers and attendees.

These are just a few examples of key players in the events industry market. The industry is diverse and includes many other notable companies that contribute to the planning, management, and execution of events worldwide.

The Events Industry Market is segmented as follows:

By Type

• Music Concert
• Festivals
• Sports
• Exhibitions and Conferences
• Corporate Events and Seminars
• Others

By Revenue Source

• Ticket Sale
• Sponsorship
• F&B
• Others

By Organizer

• Corporate
• Sports
• Education
• Entertainment
• Others

By Age Group

• Below 20 Years
• 21-40 Years
• Above 40 Years

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America