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dublin, March 27, 2024 /PRNewswire/ — The “Global Event Management Market – Outlook and Forecast 2024-2029” report has been added to ResearchAndMarkets.com Dedication.
The global event management market is expected to reach $1.76 trillion By 2029, the compound annual growth rate from 2023 to 2029 will be 11.06%.
The global event management market is a dynamic and highly competitive industry that encompasses a wide range of services and solutions for planning, organizing, and executing various events, from corporate meetings to weddings, trade shows, concerts, and more. Vendors in this market strive to differentiate themselves through various strategies, advantages and unique selling propositions. Major event management market players include well-known companies such as American Meetings, Capita, Creative Group, Freeman, GES, Informa, 360 Destination Group, and Vista Events.
The market is driven by the growing demand for seamless and innovative event planning and execution across various industries such as corporate, entertainment and sports. Fierce competition has given rise to constant innovation, with companies focusing on enhancing user experience, integrating advanced technologies such as artificial intelligence and virtual reality, and expanding global influence through strategic cooperation and acquisitions. As the industry evolves, the company also differentiates itself by providing customizable and scalable solutions to meet the diverse needs of its clients in an expanding global events landscape.
Europe Has the world’s most significant event management market share, worth more than $309 billion 2023. The European market is a dynamic and booming industry, covering everything from corporate conferences and trade shows to music festivals and sporting events. It plays an important role in the region’s economy, providing many opportunities for event planners, suppliers and related businesses. With a diverse and culturally rich landscape, Europe It has become a popular destination for local and international events.
Furthermore, an important segment of the European event management market is corporate events.European cities such as London, Paris, frankfurtand barcelona Known for hosting large conferences and trade shows.For example, Mobile World Congress barcelona It is one of the most important events in the global mobile communications industry.
Market Trends and Drivers
Increasing focus on sustainable development
Sustainability in event management means making choices that are good for people and the environment when planning, organizing and hosting events. It’s about using sustainable practices and principles at all stages of event planning to ensure events are run responsibly. In 2023, the event management market will increasingly pay attention to sustainable development and social responsibility as a prominent trend. Event planners place a strong emphasis on environmentally friendly practices and diversity and inclusion initiatives to meet the growing demand among attendees for socially conscious events. Additionally, event planners are increasingly adopting sustainable practices that reduce waste, save energy and minimize their carbon footprint. This may include incorporating green technology, local sourcing and using eco-friendly materials in event production.
Popularity of sports and entertainment activities
The proliferation of large-scale sports and entertainment events has driven the popularity of sports and entertainment events. These events, from sporting events such as the FIFA World Cup and Olympics to concerts by global superstars, have had a significant impact on the event management industry. The growing prominence of sports and entertainment events is driving demand for professional event management services.
Furthermore, entertainment activities are gaining popularity in the event management market due to the increasing demand for immersive and memorable experiences. In today’s fast-paced digital age, people seek opportunities to escape the constraints of daily life and participate in real-life shared experiences. Entertainment events provide a unique platform for individuals to come together to enjoy live performances, performances and interactive experiences that allow them to create lasting memories.
Embracing the hybrid event revolution
The hybrid event revolution marks a growing trend in the event management market, in which events are designed to combine physical (in-person) and virtual (online) elements. This trend has gained momentum in recent years and is closely linked to market dynamics in the event management industry, driving the growth in demand for event management services.
The advent of digital technology and the impact of the pandemic has accelerated the adoption of virtual events. Many organizations realize the benefits of reaching a wider, more diverse audience by incorporating virtual components into their events. This has resulted in the traditional in-person event model evolving into a hybrid approach where attendees can choose to participate in person or virtually, or a combination of both.
Answers to key questions
- How big is the global event management market?
- What is the growth rate of the global event management market?
- Which region dominates the global event management market share?
- What are the important trends in the event management industry?
- Who are the key players in the global event management market?
Market dynamics
Market opportunities and trends
- Increasing focus on sustainable development
- Embracing the hybrid event revolution
- Increasing focus on technology
Market growth drivers
- Popularity of sports and entertainment activities
- Event sponsorship promotes market expansion
- Growing interest in entrepreneurship and business seminars
market restrictions
- Budget limits and tracking
- Lack of trained manpower
- Strict regulations and compliance
Industry overview
- Consumer Behavior Insights
- Gen Z drives demand for live events
- Impact of COVID-19 on the events industry
- Impact israel war On global economy
Supplier landscape
Main company profiles
- american conference
- capital per capita
- creative group
- freeman
- Geoscience Service Center
- Informa
- 360 Destination Group
- Vista Events
Other well-known suppliers
- American Express Global Business Travel
- Asia Pacific events
- ATPI
- Bassett Events
- BCD meetings and events
- bugle event
- Dragonfly Agency
- Encore event management
- Entertainment Asia
- Global hosting
- magmatic event
- Maritz
- McVeigh Global Meetings and Events
- penguin
- Pula activities
- Questex
- Reed Exhibitions
- Riviera activities
- imprint activity group
- Trading game activities
- special events company
- Versatile event management
- Wonderland Activities
Segmentation Insights
Breakdown by event type
- Corporate events
- personal activities
- social events
- sporting events
- Fashion and entertainment events
- Educational activities
- other activities
Segmentation by customer type
- Enterprises and Companies
- personal
- government agency
- Non-profit organizations
Breakdown by event size
- Small and medium-sized activities
- big event
- big event
For more information about this report, please visit https://www.researchandmarkets.com/r/d5u7a0
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