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The growth of the global corporate events market is primarily driven by globalization of business, free flow of trade, favorable government support for domestic and international corporate events, and developed infrastructure. Additionally, increasing demand for exhibitions and conferences from major global companies is also driving the market growth. Furthermore, the growing popularity of corporate events and seminars among the global population, especially among the youth and middle-aged people, is a major driver of the global corporate events market.
Portland, Ore., March 27, 2024 (GLOBE NEWSWIRE) — Allied Market Research has released a report titled “corporate event market By event type (conferences/seminars, trade shows/exhibitions, incentive programs, corporate meetings, etc.), industry (financial services, IT, real estate and infrastructure, automotive, etc.) and platform (virtual events, hybrid events) and physical events ): Global Opportunity Analysis and Industry Forecast, 2022-2031.The report shows that the global corporate events market size was US$286.3 billion in 2017 and is expected to reach US$1171.3 billion by 2031, with a compound annual growth rate of 10.5% from 2022 to 2031.
Download a sample study overview page: https://www.alliedmarketresearch.com/request-sample/A16261
main determinants of growth
The growth of the global corporate events market is primarily driven by technological innovation and global connectivity. The integration of virtual and hybrid event formats has become crucial to ensure wider audience reach and adaptability to diverse needs. Driven by advances in event management software and interactive technology, this shift has increased attendee engagement. Additionally, key growth factors include growing demand for personalized experiences, sustainable event practices, and strategic use of events to increase brand exposure and employee engagement.
Reporting scope |
detail |
forecast period |
2022–2032 |
base year |
2017 |
Market size in 2017 |
$286.3 billion |
Market size in 2031 |
US$1,171.3 billion |
CAGR |
10.5% |
Report page count |
300 |
Market segments covered |
Activity type, industry, platform, region |
driver |
|
Chance |
|
restraint |
High operating costs associated with corporate activities |
Get the full report (468-page PDF with insights, charts, tables, and graphs): https://bit.ly/3PsOdKj
Conference/Seminar Section maintain Its leadership position throughout the forecast period
Based on event type, the meetings/seminars segment held the highest market share in 2022, accounting for more than half of the global corporate events market revenue and is expected to maintain its leadership position throughout the forecast period. This is because conferences/seminars are events that create a learning-by-doing atmosphere through experimentation, discussion, and interaction among participants. However, due to the recent trend of using social media and conferencing apps to organize corporate meetings, the corporate meetings segment is expected to grow at a CAGR of 11.8% from 2023 to 2032.
Information Technology Department maintain its leading position throughout the forecasting process period
By industry, the information technology segment gained the highest market share in 2022, accounting for more than one-third of the global corporate events market revenue, and is expected to maintain its lead throughout the forecast period as the information technology segment grows rapidly status. Influencing the growth of the corporate events market. In the past ten years, the IT industry’s share of total GDP has increased by 1.5 times, reaching 6.5%. However, the automotive industry is expected to grow at a compound annual growth rate of 11.5% from 2023 to 2032. The purpose of organizing such events is to generate sales leads, build a network of influential contacts and new product launches, build the company’s image and gather the latest information about competitors.
Physical events are subdivided into maintain Its leadership position throughout the forecast period
From a platform perspective, the physical events segment will hold the highest market share in 2022, accounting for more than half of the global corporate events market revenue, and is expected to maintain its leadership position throughout the forecast period. Sports events are the most performed events due to the wide range of methods and technologies that already exist for conducting them. However, the virtual segment is expected to grow at a CAGR of 11.1% from 2023 to 2032. This is due to the fact that virtual events have become increasingly popular over the past few years due to the ease of hosting and attending such events.
Europe to maintain Will dominate by 2032
From a regional perspective, Europe is the major shareholder in revenue in 2022, accounting for more than one-third of market revenue. This is due to Europe’s success at international association meetings, with more than half of the top cities and countries selected as international association meeting destinations. However, the Asia-Pacific region is expected to register the highest CAGR of 11.3% from 2023 to 2032 due to strong economic growth.
To access statistics and charts, strategies of key players: https://www.alliedmarketresearch.com/purchase-enquiry/A16261
Lead the market Players:
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360 Destination Group
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Visit Destination Services Ltd.
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BCD Travel Services Ltd.
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BI Global
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Continuous wave testing
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Flight Center Travel Group (FCM)
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Creative Group Ltd.
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Yida Group
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maritz holding ltd.
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Reed Exhibitions Limited
The report provides a detailed analysis of these key players in the global corporate events market. These players have adopted different strategies such as collaboration, expansion, joint ventures, agreements, etc. to increase their market share and maintain dominance in different regions. The report holds significance in highlighting the business performance, operating segments, product portfolios, and strategic initiatives of the market players to showcase the competitive landscape.
country wise Our reports on the industry:
about Us:
Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, headquartered in Wilmington, Delaware. Allied Market Research provides unparalleled quality “market research reports” and “business intelligence solutions” to global enterprises and small and medium-sized enterprises. AMR provides targeted business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market sectors.
Pawan Kumar, CEO, Allied Market Research, is leading the organization in delivering high-quality data and insights. We have professional corporate relationships with various companies, which helps us mine market data, thereby helping us produce accurate research data sheets and confirm the highest accuracy of our market forecasts. Every data in the reports we publish is extracted through preliminary interviews with senior officials of leading companies in the relevant fields. Our secondary source sourcing methodology includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.
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