The events industry market size has shown strong growth in recent years, anticipated to grow from $1,124.07 billion in 2023 to $1,227.30 billion in 2024, with a compound annual growth rate (CAGR) of 9.2%. This growth can be attributed to the increasing occurrence of religious and cultural festivals, a rise in public fairs, shifting consumer preferences, a focus on sustainability, and government sponsorship and regulation. The events industry is projected to reach $1,764.13 billion by 2028, with a CAGR of 9.5% during the forecast period. Contributing factors include a growing interest in eco-friendly events, an increase in tourism and destination events, fluctuations in corporate investment, a rising number of business conferences, and an increase in sports leagues. Major trends anticipated during this period encompass technological innovations, the emergence of 3D virtual venues, advancements in event technology, data-driven event planning, and the integration of artificial intelligence (AI).
Global Events Industry Market Key Driver
The increasing popularity of sports leagues is projected to enhance the events industry market. Sports leagues consist of teams or individual athletes competing in a structured format governed by specific rules. Their growth is fueled by the rising popularity of sports among participants and audiences, greater resources for event organization, and the expansion of broadcasting and digital media. The events industry provides infrastructure like venue management and ticketing to support live sporting events. In January 2024, Deloitte reported that the top 20 football money league clubs generated a record revenue of $11.6 billion in 2022-2023, a 14% increase from 2021-2022, showcasing the growing events industry driven by sports league popularity.
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Global Events Industry Market Segments
The events industry market covered in this report is segmented –
1) By Type: Music Concerts, Festivals, Sports, Exhibitions And Conferences, Corporate Events And Seminar, Other Types
2) By Age Group: Below 20 Years, 21–40 Years, Above 40 Years
3) By Revenue Source: Ticket Sale, Sponsorship, Food And Beverage, Other Revenue Sources
4) By Organizer: Corporate, Sports, Education, Entertainment, Other Organizers
By Geography:The regions covered in the events industry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the events industry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Events Industry Industry Players
Live Nation Entertainment Inc., RELX Group PLC, Anschutz Entertainment Group Inc., BCD Group Inc., Freeman Company, Informa PLC, ATPI Ltd., GL Events SA, Reed Exhibitions Limited, Messe Frankfurt GmbH, Cvent Inc., MCH Group AG, Clarion Events Ltd., Emerald Holding, Hyve Group plc, Questex LLC, Access Destination Services LLC, Bizzabo Inc., Social Tables Inc., Outback Concerts LLC, Riviera Events LLC, IMEX Group Ltd., Eventful Inc., CL Events Limited, Entertaining Asia Ltd.
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Events Industry Market Overview
The events industry refers to the sector that involves the planning, production, management, and execution of events of various sizes and purposes. This can include corporate events, conferences, exhibitions, trade shows, festivals, weddings, sporting events, concerts, and other social gatherings. The events industry is crucial in bringing together individuals or organizations for social, educational, entertainment, or business purposes, often facilitating networking, learning, and brand exposure. It contributes significantly to the economy, particularly tourism, hospitality, and media.
Events Industry Global Market Report 2023 provides data on the global events industry market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The events industry market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
