Event Management Market Report
RA08337
Event Management Market, by Event Type (Corporate Events and Seminar, Sport Events, Music Concert, Exhibitions and Conferences, Festivals and Others), Revenue Source (Sponsorship, Tickets and Others), Organizer (Corporate, Sports, Education, Entertainment and Others), Global Opportunity Analysis and Industry Forecast, 2019–2027
Event management market was accounted for $1,311.4 billion in 2019 and is predicted to generate a revenue of $3,605.80 billion by 2027 with a CAGR of 37.2% in the forecast period. North America market accounted for $506.2 billion in 2019 and is predicted to rise with a CAGR of 54.3% in the forecast period.
An event can be a social occasion or an important situation. In most cases an event management company takes care of the event and looks after the end-to-end process. In short event is an organized and planned occasion. Event management are the sole responsible for the conducting an event. Event management is the application of the project management for the creation and development of small or large corporate event like conferences, festivals, concerts and many more
COVID-19 Impact Analysis
The pandemic has created a negative impact on the global event management Market. Due to the stringent government rules and regulation most of the places were shut down and venturing outside was restricted to stop the spread of the coronavirus. Events were also thus halted to maintain social distancing. Nevertheless, there was an increase in virtual events by most of the corporates and individuals which drove the market at the time of the pandemic.
Growing interest among youth towards entrepreneurship & business seminars is predicted to be the biggest driving factor for the global event management market
Event management is considered as one of the most interesting and challenging jobs. Today’s youth is looking forward to build careers in event planning as it’s a profession where one can relatively work and enjoy at the same time. Event management gives them an option of meeting people and working in teams. Due to multiple benefits of being an event planner most of the youth is attracted towards such a profession, which is predicted to drive the market in the estimated period. In addition as the number of companies are increasing at a faster rate, the companies are invest heavily in organizing events as they can showcase products or meet employees to convey a message in the event itself, which is predicted to boost the global event management market in the estimated period.
High cost is predicted to be the biggest restraint for the market
The cost involved in organizing an event is very high which is predicted to be the biggest restraint for the global event management market in the forecast period. Most of the organizations as well as individuals are interested in organizing an event but due to the high cost involved in organizing the event and the event planners’ fees hamper the market growth. Due to the higher cost involved, most organizations or the general public refrain from hiring an event planner.
Event Management Market, by Event Type:
Corporate events and seminar is predicted to be the most lucrative segment
Source; Research Dive Analysis
Corporate events and seminar sub segment is predicted to have the highest market share across the forecast period. Corporate events and seminar sub segment was accounted for $388.4 billion in 2019 and is predicted to grow with a CAGR of 55.30% in the estimated timeframe. Corporate events and seminars act as opportunities for employees to build relationships with colleagues due to which most of the companies invest heavily in such activities, which is predicted to boost the sub-segment market in the estimated period.
Event Management Market, by Revenue Source:
Sponsorship sub-segment is predicted to rise by having a maximum market share
Source; Research Dive Analysis
Sponsorship sub-segment is predicted to have the maximum share as well as highest growth rate in the estimated period. Sponsorship sub-segment accounted for $651.1 billion in 2019 and is predicted to rise with a CAGR of 56.9% in the forecast period. Sponsorship has become one of the best methods to increase brand awareness among targeted customers, which is predicted to drive the sub-segment market in the estimated period.
Event Management Market, by Organizer:
Corporate sub-segment is predicted to rise enormously
Source; Research Dive Analysis
Corporate sub segment is predicted to be the most profitable segment with maximum market share. Corporate sub segment accounted for $488.1 billion in 2019 and is predicted to rise with a CAGR of 56.80% in the forecast period. Corporate events are mostly conducted to reach various audience at a same platform. The benefit of reaching a large audience on a single event platform is predicted to drive the sub-segment market in the estimated period.
Event Management Market, by Region:
North America region market is predicted to create more investment opportunities for the in the forecast period
Source; Research Dive Analysis
North America region market is predicted to create growth opportunities for the regional market in the estimated period. North America market accounted for $506.2 billion in 2019 and is predicted to rise with a CAGR of 54.3% in the forecast period. Presence of large number of companies across the region and companies investing heavily in organizing events is predicted to be the major driving factor for the region market in the estimated timeframe. In addition, the event industry in North America region is so vast that it provides employment to a large group of people. Such factors are predicted to drive the regional market in the estimated period.
Key Participants in the Event Management Market:
Source: Research Dive Analysis
The major key player in the global market are Capita plc, Entertaining Asia, Access Destination Services, LIVE NATION ENTERTAINMENT, INC, ATPI Ltd, Reed Exhibitions, Riviera Events, AEG, GL events, BCD Travel among others. Companies are investing in new product development to capture the market share in the global event management market in the estimated period. For instance, in Oct 2020, Ticketmaster introduced ‘Smartevent’ solutions to help events welcome back fans. SmartEvent is a new suite of technology tools that helps fans safely return to live events.
Porter’s Five Forces Analysis for Event Management Market:
- Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be low. The bargaining power of suppliers is very moderate.
- Bargaining Power of Consumers: In this market, the concentration of buyers is high. The bargaining power of consumers is moderate.
- The threat of New Entrants: Huge initial investments are essential to start a new event organization. The threat of new entrants is Moderate.
- The threat of Substitutes: This market has numerous alternatives of products; moreover, technology also offers high switching costs for clients. The threat of substitutes is High.
- Competitive Rivalry in the Market: There are numerous players in market and consumers can choose who to get services from. The competitive rivalry in the industry is High.
| Aspect | Particulars |
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2019 |
| Forecast timeline for Market Projection | 2019-2027 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Event Type |
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| Segmentation by Revenue Source |
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| Segmentation by Organizer |
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| Key Countries Covered | U.S., Canada, Mexico Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Latin America, Middle East, Africa |
| Key Companies Profiled |
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Q1. What is the size of event management market?
A. The global event management market size was over $1,311.40 billion in 2019 and is predicted to grow with a CAGR of 37.2% over the forecast period.
Q2. Which are the leading companies in the event management market?
A. AEG and Reed Exhibitions are the key players in the global event Management market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.
Q4. What is the growth rate of North America?
A. North America event management market is projected to grow at 54.3% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Product development is the key strategies opted by the operating companies in this event management market.
Q6. Which companies are investing more on R&D practices?
A. Riviera Events is the company investing more on R&D activities for developing new products and technologies.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.Event Type trends
2.3.Revenue Source trends
2.4.Organizer trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview
3.8.1.By Event Type
3.8.2.By Revenue Source
3.8.3.By Organizer
3.8.4.By region
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors
3.9.5.1.Raw material suppliers
3.9.5.2.Event Type manufacturers
3.9.5.3.Event Type distributors
3.10.Strategic overview
4.Event Management Market , by Event Type
4.1.Corporate Events and Seminar
4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019-2027
4.2.Sport Events
4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019-2027
4.3.Music Concert
4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019-2027
4.4.Exhibitions and Conferences
4.4.1.Market size and forecast, by region, 2019-2027
4.4.2.Comparative market share analysis, 2019-2027
4.5.Festivals
4.5.1.Market size and forecast, by region, 2019-2027
4.5.2.Comparative market share analysis, 2019-2027
4.6.Others
4.6.1.Market size and forecast, by region, 2019-2027
4.6.2.Comparative market share analysis, 2019-202
5.Event Management Market , by Revenue Source
5.1.Sponsorship
5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019-2027
5.2.Tickets
5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019-2027
5.3.Others
5.3.1.Market size and forecast, by region, 2019-2027
5.3.2.Comparative market share analysis, 2019-2027
6.Event Management Market , by Organizer
6.1.Corporate
6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019-2027
6.2.Sports
6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019-2027
6.3.Education
6.3.1.Market size and forecast, by region, 2019-2027
6.3.2.Comparative market share analysis, 2019-2027
6.4.Entertainment
6.4.1.Market size and forecast, by region, 2019-2027
6.4.2.Comparative market share analysis, 2019-2027
6.5.Others
6.5.1.Market size and forecast, by region, 2019-2027
6.5.2.Comparative market share analysis, 2019-2027
7.Event Management Market , by Region
7.1.North Region
7.1.1.Market size and forecast, by Event Type , 2019-2027
7.1.2.Market size and forecast, by Revenue Source, 2019-2027
7.1.3.Market size and forecast, by Organizer , 2019-2027
7.1.4.Market size and forecast, by country, 2019-2027
7.1.5.Comparative market share analysis, 2019-2027
7.1.6.U.S
7.1.7.Market size and forecast, by Event Type , 2019-2027
7.1.8.Market size and forecast, by Revenue Source, 2019-2027
7.1.9.Market size and forecast, by Organizer , 2019-2027
7.1.10.Market size and forecast, by vertical, 2019-2027
7.1.11.Canada
7.1.12.Market size and forecast, by Event Type , 2019-2027
7.1.13.Market size and forecast, by Revenue Source, 2019-2027
7.1.14.Market size and forecast, by Organizer , 2019-2027
7.2.Europe
7.2.1.Market size and forecast, by Event Type , 2019-2027
7.2.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.3.Market size and forecast, by Organizer , 2019-2027
7.2.4.Market size and forecast, by country, 2019-2027
7.2.5.Comparative market share analysis, 2019-2027
7.2.6.UK
7.2.6.1.Market size and forecast, by Event Type , 2019-2027
7.2.6.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.6.3.Market size and forecast, by Organizer , 2019-2027
7.2.6.4.Comparative market share analysis, 2019-2027
7.2.7.Germany
7.2.7.1.Market size and forecast, by Event Type , 2019-2027
7.2.7.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.7.3.Market size and forecast, by Organizer , 2019-2027
7.2.7.4.Comparative market share analysis, 2019-2027
7.2.8.France
7.2.8.1.Market size and forecast, by Event Type , 2019-2027
7.2.8.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.8.3.Market size and forecast, by Organizer , 2019-2027
7.2.8.4.Comparative market share analysis, 2019-2027
7.2.9.Italy
7.2.9.1.Market size and forecast, by Event Type , 2019-2027
7.2.9.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.9.3.Market size and forecast, by Organizer , 2019-2027
7.2.9.4.Comparative market share analysis, 2019-2027
7.2.10.Rest of Europe
7.2.10.1.Market size and forecast, by Event Type , 2019-2027
7.2.10.2.Market size and forecast, by Revenue Source, 2019-2027
7.2.10.3.Market size and forecast, by Organizer , 2019-2027
7.2.10.4.Comparative market share analysis, 2019-2027
7.3.Asia-Pacific
7.3.1.Market size and forecast, by Event Type , 2019-2027
7.3.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.3.Market size and forecast, by Organizer , 2019-2027
7.3.4.Comparative market share analysis, 2019-2027
7.3.5.Market size and forecast, by country, 2019-2027
7.3.6.China
7.3.6.1.Market size and forecast, by Event Type , 2019-2027
7.3.6.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.6.3.Market size and forecast, by Organizer , 2019-2027
7.3.6.4.Comparative market share analysis, 2019-2027
7.3.7.India
7.3.7.1.Market size and forecast, by Event Type , 2019-2027
7.3.7.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.7.3.Market size and forecast, by Organizer , 2019-2027
7.3.7.4.Comparative market share analysis, 2019-2027
7.3.8.Japan
7.3.8.1.Market size and forecast, by Event Type , 2019-2027
7.3.8.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.8.3.Market size and forecast, by Organizer , 2019-2027
7.3.8.4.Comparative market share analysis, 2019-2027
7.3.9.South Korea
7.3.9.1.Market size and forecast, by Event Type , 2019-2027
7.3.9.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.9.3.Market size and forecast, by Organizer , 2019-2027
7.3.9.4.Comparative market share analysis, 2019-2027
7.3.10.Australia
7.3.10.1.Market size and forecast, by Event Type , 2019-2027
7.3.10.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.10.3.Market size and forecast, by Organizer , 2019-2027
7.3.10.4.Comparative market share analysis, 2019-2027
7.3.11.Rest of Asia Pacific
7.3.11.1.Market size and forecast, by Event Type , 2019-2027
7.3.11.2.Market size and forecast, by Revenue Source, 2019-2027
7.3.11.3.Market size and forecast, by Organizer , 2019-2027
7.3.11.4.Comparative market share analysis, 2019-2027
7.4.LAMEA
7.4.1.1.Market size and forecast, by Event Type , 2019-2027
7.4.1.2.Market size and forecast, by Revenue Source, 2019-2027
7.4.1.3.Market size and forecast, by Organizer , 2019-2027
7.4.1.4.Market size and forecast, by country, 2019-2027
7.4.1.5.Comparative market share analysis, 2019-2027
7.4.2.Latin America
7.4.2.1.Market size and forecast, by Event Type , 2019-2027
7.4.2.2.Market size and forecast, by Revenue Source, 2019-2027
7.4.2.3.Market size and forecast, by Organizer , 2019-2027
7.4.2.4.Comparative market share analysis, 2019-2027
7.4.3.Middle East
7.4.3.1.Market size and forecast, by Event Type , 2019-2027
7.4.3.2.Market size and forecast, by Revenue Source, 2019-2027
7.4.3.3.Market size and forecast, by Organizer , 2019-2027
7.4.3.4.Comparative market share analysis, 2019-2027
7.4.4.Africa
7.4.4.1.Market size and forecast, by Event Type , 2019-2027
7.4.4.2.Market size and forecast, by Revenue Source, 2019-2027
7.4.4.3.Market size and forecast, by Organizer , 2019-2027
7.4.4.4.Comparative market share analysis, 2019-2027
8.Company profiles
8.1.Capita plc
8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Event Type portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis
8.2.Entertaining Asia.
8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Event Type portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis
8.3.Access Destination Services
8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Event Type portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis
8.4.LIVE NATION ENTERTAINMENT, INC,
8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Event Type portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis
8.5.ATPI Ltd
8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Event Type portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis
8.6.Reed Exhibitions
8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Event Type portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis
8.7.Riviera Events
8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Event Type portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis
8.8.AEG,
8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Event Type portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis
8.9.GL events.
8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Event Type portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis
8.10.BCD Travel
8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Event Type portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis
The current world is acquainted of witnessing many types of events. An event can be any activity that is planned for a special purpose and generally comprises a lot of people, for instance parties, festivals, ceremonies, meetings, trade shows, or conferences. Owing to a rise in the need and popularity of events, event management services have become the need of the era.
Event management professionals are responsible for managing the overall logistics of the event, working with staff, and guiding the project management of the event. With the growing frequency of events across the world, the events industry is booming and expected to see marvelous growth in the coming years. A report by Research Dive backs this fact through the estimations published in its report on the global event management market. According to the report, the global event industry is predicted to perceive significant growth and register a CAGR of 37.2% from 2020 to 2027.
What Factors are triggering the Growth of the Event Industry?
Many factors are responsible for the massive growth of the event industry. Everything from rising reach of the internet to the growing need of the businesses and entertainment sectors to frequently communicate with their potential audience is contributing to the growth of the event industry. Also, the growing demand from government bodies, community groups, NGOS, sports sector, and individuals for event management services is fueling the development of the event industry.
Besides, event management is seen as the most trending and highly demanded career among the individuals in the current generation. Being an interesting and challenging career option, many youths are highly attracted and are considering to build their career in the event management sector; which is expected to thrive the market in the coming years. Additionally, as there is a significant rise in the development of novel companies in the recent years, there is a huge scope for the event industry’s growth. This is because new companies willingly invest heavy amounts in organizing events for showcasing their products or presenting their company over a wide range of target audience.
Recent Trends in the Event Industry
The widespread demand for events has encouraged many to enter the event management sector. Several players in this market are conducting novel activities and strategies for boosting their business and staying ahead of the massive competition in the industry. For instance, in January 2021, Glue Up, an exclusive all-in-one engagement platform, has been named amongst Digital.com's top event management software and membership management software businesses of 2021.
In January 2021, a worldwide front-runner in critical event management (CEM), Everbridge, Inc., has declared its achievement of a new milestone in its support of business, healthcare, and government organizations throughout an unprecedented year filled with natural, manmade, and digital catastrophes, like the COVID-19 pandemic. In the year 2020, Everbridge clients have utilized its SaaS (software-as-a-service) platform to send more than 5 billion communications, with a 30% rise over the number of communications in 2019. Also, the company has received a novel patent related to its first-class Public Warning system, which at present serves the whole populations of 11 nations in the Middle East, Asia, Europe, Oceania, Africa, and the America. The patent relates to a multimedia-capable platform that offers traditional text alerts with the help of Cell Broadcast (CB) as well as multimedia content like images, audio, and video with the help of Multicast Content Distribution (MCD).
In December 2020, NIEM (National Institute of Event Management) in Mumbai, which is the Asia’s first event management organization, has completed 20 years of a magnificent period of triumph and service in the Indian event management industry.
Has the Covid-19 Pandemic made any Impact on the Event Industry?
The deadly COVID-19 pandemic has made a negative impact on the global event management market. This is because not even a single event was organized amidst the pandemic crisis for avoiding social contact and averting the spread of the disease. Owing to the strict government rules and implementation of lockdown in various regions most of the businesses and all activities were halted. Furthermore, rise in the virtual events by most of the businesses and individuals has opened doors to novel opportunities for the event industry players during the pandemic crisis.
What is the Future Panorama of the Event Industry?
Since ages, the events industry has played a crucial part in communications and marketing for non-profit organizations, brands, government bodies, and individuals. Also, the opening of various career opportunities in the event sector are likely to propel the market growth. Hence, it is indeed right to say that the upward growth curve of the event industry is going to endure for long in the coming years. This clearly states that the event industry is sure to witness bright future in the near future.
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