How Has the Events Industry Market Size Evolved in Recent Years?
The events industry market has seen considerable growth due to a variety of factors.
• In recent times, the market size of the events industry has seen robust growth. The market's value, which was at $1227.3 billion in 2024, is predicted to increase to $1346.92 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.7%.
The growth observed in the historical period is due to the increased frequency of cultural and religious festivals, the popularity of public fairs, shifts in consumer tastes, emphasis on sustainability, and the support and regulations provided by the government.
What Is The Forecast For The Events Industry Market Size?
The events industry market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the events industry is slated to experience significant expansion in the coming years. This sector is predicted to swell to a value of $1930.26 billion in 2029, increasing at a compound annual growth rate (CAGR) of 9.4%.
The projected growth during this period is linked to the rising interest in environmentally-friendly events, tourism expansion and destination events, varying levels of corporate investment, escalating numbers of business conferences and an influx of sports leagues. Key emerging trends expected during this forecast period encompass technological progress, 3D virtual venues, advancements in event-specific technology, data-oriented event management, and the incorporation of artificial intelligence (AI).
What Are The Essential Drivers Behind The Growth Of The Events Industry Market?
The growth trajectory of the events industry market is speculated to rise due to the increasing popularity of sports leagues. Sports leagues, which are orchestrated assemblages of teams or solo athletes battling in a structured tournament over a set timeframe under particular rules and guidelines, are gaining popularity. This popularity surge among participants and spectators is due to a greater availability of event organization resources and the progression of broadcasting and digital media. The events industry supplies the essential infrastructure required, including venue management, ticketing, and promotion, to ensure the smooth running of live sports leagues that draw large crowds and promote community involvement. For instance, Deloitte Touche Tohmatsu Limited, a professional service network company based in the UK, reported that the leading 20 football money league clubs registered a record-breaking revenue of $11.6 billion (€10.5 billion) in the 2022-2023 season, reflecting an increase of 14% compared to 2021-2022. Hence, the soaring popularity of sports leagues contributes to the expansion of the events industry market.
How Is The Global Events Industry Market Divided Into Key Segments?
The events industrymarket 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
Subsegments:
1) By Music Concerts: Live Music Performances, Virtual Concerts, Music Festivals, Album Launch Events, Tour Concerts
2) By Festivals: Cultural Festivals, Religious Festivals, Food And Wine Festivals, Film Festivals, Arts And Craft Festivals
3) By Sports: Professional Sports Leagues, International Sporting Events, Esports Tournaments, Marathons and Races, Local and Community Sports Events
4) By Exhibitions And Conferences: Trade Shows, Product Launches, Industry-Specific Conferences, Networking Events, Virtual Exhibitions And Conferences
5) By Corporate Events and Seminars: Business Meetings, Team-Building Events, Corporate Training Seminars, Product Presentations, Shareholder Meetings
6) By Other Types: Weddings, Charity And Fundraising Events, Social And Private Parties, Award Ceremonies, Fashion Shows
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Which Emerging Market Trends Are Altering The Events Industry Industry?
Primary entities in the event industry are focusing on implementing innovative measures, like event management software solutions, to enhance different components of event management, including ticket sales and billing procedures. Event management software solution in the events sector is a digital platform devised to aid event coordinators in planning, implementing, and managing events effectively. These software solutions comprehensively handle various aspects of event organization, from logistics and ticketing to promotion and post-event analysis. For instance, in June 2024, Evexus, a software development company based in Australia, introduced a comprehensive event management software solution, purposed to optimize and elevate the processes of event planning worldwide. This platform incorporates advanced technologies, such as artificial intelligence (AI), sequential registration, and pay-upfront billing, to fill an existing gap in the event management market. These advanced features aim to reshape industry standards, simplifying the organization process and enriching the overall event experience. It also assists event coordinators in advocating for sponsors, providing on-demand content, collecting valuable insights from data, and broadcasting events live.
Who Are the Key Players In The Events Industry Market?
Major companies operating in the events industry market are:
• 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.
What Are The Regional Insights Into The Events Industry Market?
Europe was the largest region in the events industry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the events industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
