Global Event Management Outlook & Forecast Report 2024-2029 Featuring Major Vendors - American Meetings, Capita, Creative Group, Freeman, GES, Informa, 360 Destination Group, and Vista Events

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Mar 27, 2024, 12:15 ET

DUBLIN, March 27, 2024 /PRNewswire/ -- The "Global Event Management Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The global event management market is expected to reach USD 1.76 trillion by 2029, growing at a CAGR of 11.06% from 2023-2029.

The global event management market is a dynamic and competitive industry encompassing various services and solutions for planning, organizing, and executing various events, from corporate meetings and conferences to weddings, trade shows, concerts, and more. Vendors in this market strive to distinguish themselves through various strategies, strengths, and unique selling propositions. Major event management market participants include established companies such as American Meetings, Capita, Creative Group, Freeman, GES, Informa, 360 Destination Group, and Vista Events.

The market is driven by the increasing demand for seamless and innovative event planning and execution across various industries, including corporate, entertainment, and sports. Intense competition has led to constant innovation, with companies focusing on enhancing user experience, incorporating advanced technologies like artificial intelligence and virtual reality, and expanding their global reach through strategic partnerships and acquisitions. As the industry evolves, companies also differentiate themselves by providing customizable and scalable solutions to cater to clients' diverse needs in an ever-expanding global events landscape.

Europe holds the most significant global event management market share, valued at over USD 309 billion in 2023. The European market is a dynamic and thriving industry encompassing various events, from corporate conferences and trade shows to music festivals and sporting events. It plays a significant role in the region's economy, offering many opportunities for event planners, suppliers, and related businesses. With a diverse and culturally rich landscape, Europe has become a popular destination for local and international events.

Further, one significant segment within the European event management market is corporate events. European cities such as London, Paris, Frankfurt, and Barcelona are renowned for hosting large-scale conferences and trade shows. For example, the Mobile World Congress in Barcelona is one of the world's most significant events for the mobile communications industry.

MARKET TRENDS & DRIVERS

Rising Focus Towards Sustainability

Sustainability in event management means making choices that are good for people and the environment when planning, organizing, and running an event. It's about using sustainable practices and principles at all event planning stages to ensure the event is hosted responsibly. In 2023, the event management market is witnessing a growing emphasis on sustainability and social responsibility as a prominent trend. Event planners are giving significant importance to eco-friendly practices and diversity and inclusion initiatives in response to the increasing demand from attendees for socially conscious events. Further, event planners are increasingly adopting sustainable practices by reducing waste, conserving energy, and minimizing their carbon footprints. This may include incorporating green technologies, sourcing locally, and utilizing eco-friendly materials in event production.

Popularity of Sports & Entertainment Events

The surge in large-scale sports and entertainment events underpins the rising popularity of sports & entertainment events. These events, from sports tournaments like the FIFA World Cup and the Olympics to music concerts featuring global superstars, substantially impact the event management industry. The increasing prominence of sports and entertainment events drives the demand for professional event management services.

Moreover, the popularity of entertainment events has increased in the event management market due to increasing demand for immersive and memorable experiences. In today's fast-paced digital age, people seek opportunities to disconnect from their daily routines and engage in real-life, shared experiences. Entertainment events provide a unique platform for individuals to come together and enjoy live performances, shows, and interactive experiences, allowing them to create lasting memories.

Embracing the Hybrid Event Revolution

The hybrid event revolution signifies a growing trend in the event management market where events are designed to combine both physical (in-person) and virtual (online) elements. This trend has gained significant momentum in recent years and is closely related to the market dynamics of the event management industry, driving increased demand for event management services.

The advent of digital technology and the impact of the pandemic accelerated the adoption of virtual events. Many organizations realized the benefits of reaching a broader and more diverse audience by incorporating virtual components into their events. This led to the evolution of the traditional in-person event model into a hybrid approach, where attendees can choose to participate in-person or virtually, or a combination of both.

KEY QUESTIONS ANSWERED

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 significant trends in the event management industry?
Who are the key players in the global event management market?

MARKET DYNAMICS

Market Opportunities & Trends

Rising Focus on Sustainability
Embracing the Hybrid Event Revolution
Growing Emphasis on Technology

Market Growth Enablers

Popularity of Sports & Entertainment Events
Event Sponsorship Boosts Market Expansion
Growing Interest in Entrepreneurship & Business Seminars

Market Restraints

Budget Constraints & Tracking
Lack of Trained Manpower
Stringent Regulations & Compliance

Industry Overview

Consumer Behavior Insights
Gen Zs Driving Demand for Live Events
Impact of COVID-19 on Events Industry
Effects of Israel War on Global Economy

VENDOR LANDSCAPE

Key Company Profiles

American Meetings
Capita
Creative Group
Freeman
GES
Informa
360 Destination Group
Vista Events

Other Prominent Vendors

American Express Global Business Travel
Asia Pacific Events
ATPI
Bassett Events
BCD Meetings & Events
Clarion Events
Dragonfly Agency
Encore Event Management
Entertaining Asia
Hosts Global
Magma Event
Maritz
McVeigh Global Meetings and Events
penguins
PRA Events
Questex
Reed Exhibitions
Riviera Events
Imprint Events Group
TCG Events
The Special Event Company
Versatile Event Management
Wonderland Events

SEGMENTATION INSIGHTS

Segmentation by Event Type

Corporate Events
Personal Events
Social Events
Sports Events
Fashion & Entertainment Events
Educational Events
Other Events

Segmentation by Client Type

Businesses & Corporations
Individuals
Government Agencies
Non-Profit Organizations

Segmentation by Event Size

Small & Medium-Scale Events
Large-Scale Events
Mega Events

For more information about this report visit https://www.researchandmarkets.com/r/d5u7a0

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