Events market size is worth $1,965.99 billion, globally, by 2028 at a CAGR of 11.1%

NEW YORK, May 24, 2022 /PRNewswire/ — The Insight Partners has released the latest research study on “Events Market Forecast to 2028 – Impact of COVID-19 and global analysis by type of event (virtual, hybrid and physical), source of income (ticket sales, sponsorship and others), type (music concert, festivals, sports, exhibitions and conferences, corporate events) and seminars, and others), organizer (corporate, sport, education, entertainment, association, and others), application (B2B and B2C) and business size (small and medium enterprises and large companies)”, the global events market share is expected to grow by $958.54 billion in 2021 for $1,965.99 billion by 2028; it is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

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Details

Market size Value in

US$958.54 billion in 2021

Market size value per

$1,965.99 billion by 2028

Rate of growth

CAGR of 11.1% from 2022 to 2028

Forecast period

2022-2028

base year

2021

Number of pages

244

Number of tables

197

Number of graphs and figures

121

Historical data available

Yes

Segments Covered

Type of event, source of income, type, organizer, application and size of business

Regional scope

North America; Europe; Asia Pacific; Latin America; AEM

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

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Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Events Market: Competitive Landscape and Key Developments

Access destination services; Anschutz Entertainment Group; ATPI Ltd. ; BCD meetings and events; Cvent Inc.; Entertain Asia; Live Nation Worldwide, Inc.; Pollstar; Riviera Events; and StubHub are the key players profiled during the Events market research. In addition to these players, several other essential Events market players have also been researched and analyzed to get a comprehensive view of the global Events market and its ecosystem.

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In 2021, BCD M&E partnered with Core Rewards, a tool to track and reward people through incentive and loyalty programs.

Entrepreneurship education for high school and post-secondary students has a beneficial impact on entrepreneurial skills and goals, but it is unclear whether this translates into long-term entrepreneurial engagement or income. A few in-depth studies in this area in developing countries imply that secondary/higher education in entrepreneurship has an impact on entrepreneurial ambitions, mindset and abilities. For example, university entrepreneurship programs in Tunisia increased entrepreneurial intent, mindset, skills and short-term self-employment rates; however, these effects dissipated four years later due to financial restrictions.

North America has the highest adoption rate of advanced technologies due to favorable government policies for innovation and capacity building of infrastructure. Therefore, all the factors affecting the industrial performance of the region hinder its economic development. The United States has become one of the most affected countries in the world by the pandemic, forcing governments to impose several limitations on industrial, commercial and public activities in the country to contain the spread of the disease.

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According to the Center for Strategic and International Studies, the United States has experienced a contraction in GDP due to the pandemic. There has been a decline in overall business activities across various industries operating in the region, affecting the revenue of major market players. Business closures, cancellation and postponement of events, various sporting events, exhibitions, major festivals, concerts and weddings across the United States, Canadaand Mexicohad a negative impact on the growth of the events market in 2020. However, in the coming years, the virtual event software segment is expected to foresee significant growth opportunities owing to the growing demand for digital content and live broadcast.

Growing interest of young people in entrepreneurship and business seminars to boost the events market:

According to EventMB’s 2021 report, 71% of event planners said they would continue to use a digital strategy even after live events return. A study by Bizzabo indicates that 97% of respondents expect to see more hybrid events in the future. Hybrid events combine the reach and flexibility of a virtual event with the intimacy and engagement of an in-person event. Canapii is a hybrid event platform deployed mid-2020, facilitating the creation and organization of hybrid events. Event Tech Live is an example of an event primarily focused on virtual access but including two live stages. Others, such as the World Travel and Tourism Council’s Global Summit in April 2021, are mostly in person, with information available online. Over the next couple of years, the hybrid event landscape will most likely contain a variety of in-person and virtual options.

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Events market: sector overview

Events Market Analysis by Type, the market is segmented into Music Concerts, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminars, etc. The corporate events and seminars segment dominated the events market in 2021. A corporate event is an event that a company organizes for its workers, stakeholders, customers, a charity event or the general public. The objective of the event determines the target audience.

Employees can relax and build relationships with their colleagues at company meetings. Even the smallest event can have a significant influence on staff morale. A seminar is a business event where attendees receive information or training on a certain topic. A seminar is often organized for groups of 10 to 50 people and is hosted in a hotel meeting room, an academic institution or a business conference room. Personal development and business strategy are two specific topics covered in business seminars.

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Contact person: Sameer Joshi
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Press release: https://www.theinsightpartners.com/pr/events-market

SOURCE Insight Partners

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