Global Events Industry Market Anticipated to Garner a Revenue of $1,457.2 Million at a CAGR of 23.1% during the Forecast Period, 2021-2028 - Absolute Report [Pages-301] by Research Dive

·4 min read

Global events industry market is anticipated to witness a significant growth during the forecast period, 2021-2028. Corporate events & seminar sub-segments are expected to be the most profitable. Sponsorship and entertainment sub-segments are expected to be the most lucrative. North America is expected to lead the market.

New York, USA, June 21, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global events industry market is projected to register a revenue of $1,457.2 million at a CAGR of 23.1% during the forecast period (2021-2028), increasing from $1,134.5 million in 2020. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.

Access to PDF Sample Report Here! @ https://www.researchdive.com/download-sample/8401

Dynamics of the Market

Drivers: Governments and corporate sponsor many networking and advertising events throughout the years to garner a large customer base. Many big companies also sponsor massive sports and musical events to advertise and increase their sales. These are the main factors behind the growth of the event industry during the forecast period.

Restraints: Most of the networking events cost a huge fortune to the sponsors, which may sometimes occur as a restraining factor of the market.

Opportunity: During the coronavirus pandemic, virtual events are being organized at a large scale, which is creating many opportunities for the market.

Key Segments of the Market

The report has divided the market into different segments based on type, revenue source, organizer, age group, and regional analysis.

  • Type: Corporate Events & Seminar Sub-Segment Expected to be the Most Lucrative

The corporate events & seminar sub-segment is predicted to earn the highest market share of $413.7 million by 2028, increasing from $307.0 million revenue in 2020. Corporates sponsor many events throughout the year to showcase their credibility and build a strong client base. Although, these events are mainly physical, the virtual events are also getting popularity during the pandemic. This is the main factor enhancing the growth of the market segment.

Checkout How COVID-19 impacts the Events Industry Market. Click Here to Schedule a Call to Speak our Expert Analyst for Triangulate with your own data @ https://www.researchdive.com/connect-to-analyst/8401

  • Revenue Source: Sponsorship Sub-Segment Expected to be the Most Profitable

The sponsorship sub-segment is expected to increase from $520.0 million in 2020 and garner the highest revenue of $710.7 million by 2028. The main attributor behind this growth is the lucrative benefits obtained by the sponsors. A sponsor gets increased rate of brand visibility, which is essential for huge customer reach.

  • Organizer: Entertainment Sub-Segment Expected to be the Most Beneficial

The entertainment sub-segment accounted for $453.3 million in 2020 and expected to surpass $27,286.1 million during the analysis period. The main factor behind the growth of this segment is that the entertainment events, such as music, DJ, and games, make the events super-engaging for the attendees.

  • Age Group: 21-40 Years Sub-Segment Expected to be the Most Lucrative

The 21-40 years sub-segment is expected to garner a revenue of $679.0 million during the forecast period. The individuals of 21-40 years age group mainly prefer to participate in events such as sports events, music concerts or exhibitions. The people from this age-group often attend corporate events, seminars or business meetings for their business expeditions.

  • Region: Asia-Pacific Expected to Lead the Market

The Asia-Pacific events industry is predicted to garner a revenue of $475.0 million at a CAGR of 29.7% during the forecast period. This growth is mainly attributed to government initiatives such as investments in young entrepreneurship programs, developing economic activities, and growing urbanization in the regional countries.

Request for Events Industry Market Report Customization & Get 10% Discount on this Report@ https://www.researchdive.com/request-for-customization/8401

Key Market Players and Strategies

The most prominent players of the global events industry market include

  1. Anschutz Entertainment Group

  2. ACCESS Destination Services, LLC

  3. The ATPI Group

  4. Capita

  5. CL Events

  6. BCD Meeting & Events

  7. Cvent, Inc.

  8. DRPG Group

  9. Entertaining Asia

  10. Clarion Events Ltd, and many others.

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

In March 2020, ACCESS, a destination management company, acquired Las Vegas-based CLI Groups, Inc., another destination management company. CLI is one of the leading DMCs in the Las Vegas market, and was founded in 2004.

Covid-19 Impact Analysis

The coronavirus pandemic has impacted the events industry in a drastic manner. Because of the pandemic, most of the countries have imposed restrictions on domestic and international travel, social gatherings, and physical networking events. Many international, high-profile events were postponed until undefined time. Such aspects have led to drastic downfall of the industry in recent months.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

Top trending Reports:

Event Management Market - https://www.researchdive.com/8337/event-management-market

MICE Industry Market - https://www.researchdive.com/8408/mice-industry-market

CONTACT: Contact: Mr. Abhishek Paliwal Research Dive 30 Wall St. 8th Floor, New York NY 10005 (P) +91-(788)-802-9103 (India) +1-(917)-444-1262 (US) Toll Free: 1-888-961-4454 E-mail: support@researchdive.com Website: https://www.researchdive.com Blog: https://www.researchdive.com/blog/ LinkedIn: https://www.linkedin.com/company/research-dive/ Twitter: https://twitter.com/ResearchDive Facebook: https://www.facebook.com/Research-Dive-1385542314927521


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting