Market Snapshot:
The term "event" refers to a public assembly of the general public at a specific time and location. The goal of producing an event can be to boost corporate profitability, celebrate, entertain, or raise money for a good cause, among other things. Sponsorships from companies like Red Bull, Monster Energy, Nike, and Cocoa Cola for huge global three-day festivals, as well as minor gigs or acts in a social club or arena, help the events business thrive. Since the memorial's inception, event management companies have been on the rise. Everything in the corporate world is covered, from scheduling and arranging product launches to company meetings and investor interactions. The market for event management services is expanding as firms offer a greater range of services such as shows and weeding. Other informal events such as weddings, rock concerts, award shows, and charity balls are also being added to the mix.
Highlights from Event Planning Service Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 14.7% |
The key Players profiled in the report are Riviera Events (China), Entertaining Asia (Hong Kong), Live Nation Worldwide Inc. (United States), StubHub (United States), Anschutz Entertainment Group (United States), Pollstar (Oak View Group) (United States), Cvent Inc. (United States), Capita Plc. (United Kingdom) and Reed Exhibitions (United Kingdom).
Geographic Breakdown and Segment Analysis
The Global Event Planning Service market presents a comprehensive analysis of the Event Planning Service market by product type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminar and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Event Planning Service industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the Event Planning Service market, the Europe has emerged as a crucial market for several Event Planning Service brands.
Analyst at AMA have segmented the market study of Global Event Planning Service market by Type, Application and Region.
Influencing Trend:
The Rise in Interest toward Entrepreneur & Business Seminars along with Music Concerts and Festive Gatherings and Increase in Infrastructural Investment
Market Growth Drivers:
As the world becomes more globalized, the demand for event planning services will increase., Commercialization of sporting events has increased. and Emerging Markets are in high demand.
Challenges:
the Rising Concern Regarding Events Industry Fragmentation
Restraints:
Higher Entry Cost Associated with Event Planning Services
Opportunities:
Technological advancements such as projection mapping, which produces an augmented reality of experience using projectors, and branded multi-use apps, which are used to buy tickets, survey attendance, and poll crowds in real-time, are accelerating industry growth.
Market Developments Activities:
On 24th May 2021, Live Nation says concert venue bookings rebounding as artists book events into next year. The company is branching out into live streaming for concerts and NFTs for digital memorabilia.
On October 26, 2023, Eventbrite, a leading ticketing and event management platform, acquired BizBash, a prominent event media company, to strengthen its content and community offerings.
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail competitive advantage through combined collaborations.
Analyst Comment
"The COVID-19 epidemic has altered the dynamics of worldwide corporate operations. Though the COVID-19 outbreak has exposed flaws in business models across industries, it has also provided event management solution vendors with various opportunities to develop their companies across enterprises through the use of virtual events during the lockdown. The COVID-19 pandemic caused the event industry to pause and make significant adjustments to the way it operates. At the start of the year 2020, virtual events were not very popular. Virtual conferences and gatherings are becoming more popular as a result of their success in keeping activities going during the pandemic."
Key Target Audience
Service providers, Government regulation bodies, Private research organization, Government research organization and Others