The events industry market size has grown strongly. It will increase from $1,124.07 billion in 2023 to $1,227.30 billion in 2024, with a CAGR of 9.2%. This growth is driven by rising religious and cultural festivals, the increase in public fairs, changing consumer preferences, a focus on sustainability, and government sponsorship and regulation.
The events industry market is forecasted to reach $1,764.13 billion by 2028, growing at a CAGR of 9.5%. This growth is driven by interest in eco-friendly events, growth in tourism and destination events, rising corporate investment, and the increasing number of sports leagues. Trends include advancements in event technology, AI integration, and data-driven event planning.
Major Driver In The Events Industry Market
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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Events Industry Market Competitive Landscape
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.
Key Events Industry Market Trend
Leading companies in the events industry market are focusing on creating innovative solutions, such as event management software, to enhance various aspects of event management, including registration and billing. These software solutions help organizers plan, execute, and manage events more efficiently by streamlining processes such as logistics, registration, marketing, and post-event analysis. For example, in June 2024, Evexus, an Australia-based software development company, launched an end-to-end event management platform that integrates cutting-edge technologies like artificial intelligence (AI), sequential registration, and pay-first billing to improve global event planning. These advanced features are designed to fill gaps in the current market, offering seamless event organization, sponsor promotion, on-demand content, data insights, and live-streaming capabilities.
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Global Events Industry Market Segmentation
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.
The Events Industry Global Market Report 2024 furnishes information about the global events industry market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
