Event Management Market by Revenue sources(Ticket Sale, Sponsorship), by Organizer(Corporate, Sports), Type(Music Concert, Festivals) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024 – 2032

The Event Management Market witnessed a valuation of USD 1146.9 billion in 2021, and it is projected to grow from USD 1242.8 billion in 2023 to USD 1848.8 billion by 2030, with a compound annual growth rate (CAGR) of 10.18% during the forecast period (2023-2030).

Event management has gained popularity due to its ability to reduce stress, ensure smooth operations, handle legal requirements, and provide access to relevant contacts.

Planning an event can be time-consuming and involves managing various aspects that demand attention. Engaging an event management agency and professionals from related industries can effectively save time and streamline the process in a cost-efficient manner. Event management agencies also provide valuable insights into recent market trends and recommend their implementation to achieve the desired event objectives.

Seamless collaboration is essential for a successful event. This collaboration helps manage the expectations of internal stakeholders, while the event management agency focuses on executing creative and innovative events to bring the vision to life. However, communication gaps between attendees and the organizations offering event services can occasionally hinder market growth.

Overall, the event management industry plays a crucial role in ensuring efficient event planning and execution, leveraging expertise and industry knowledge to deliver successful and impactful events.

Global Event Management Market Segmental Analysis

Global Event Management market is segmented on the basis of type, Revenue source, organizer, age group and region. By type, the market is segmented into Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others. By revenue source, the market is segmented into Ticket Sale, Sponsorship, and Others. By organizer, the market is segmented into Corporate, Sports, Education, Entertainment, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Type

The global market is categorized into several segments based on type, including Music Concerts, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others. Among these segments, the Corporate Events segment dominates the global event management market in terms of market share. This is primarily because corporate events benefit greatly from the services provided by event management. These services ensure smooth connectivity and efficient operation of event modules. Event management firms worldwide are dedicated to the continual development and enhancement of event management across various applications. The growing demand for miniaturization and IoT technology further contributes to the global growth of the event management market.

Global Event Management Market Regional Insights

In 2021, Europe is projected to have the largest market share in the global Event Management market. This can be attributed to several key factors, including the presence of leading market players and the hosting of large-scale conferences and events.

However, it is expected that the Asia Pacific region will experience the fastest growth during the forecast period. This is primarily driven by the increasing adoption of Event Management technology, particularly in countries like China and Japan. The penetration of mobile internet in the Asia Pacific region has doubled in recent years, which has further facilitated the growth of the market. Moreover, event management operators in the region are making significant investments to provide high-speed services at affordable prices to consumers, thus fueling the demand for Event Management.

Global Event Management Market Dynamics

Drivers

Increased demand for Advance Data Solutions to Bolster Market Growth

The Event Management card serves as a crucial tool that enables event management companies to leverage advanced analytics. It encompasses a wide range of analytical techniques and methods that aid in identifying trends, patterns, and problem-solving. By utilizing data-driven and fact-based information, event management companies can accurately predict the future and drive change. The introduction of these tools in the market empowers event management companies, even those with average skills, to unlock the potential of data and gain a competitive edge. With the integration of augmented analytics and technological advancements, the synergy between event management and technology is poised to foster the future growth of the market.

Restraints

High Setup Cost to Hinder Market Growth

To establish an event company, various essential investments are required. These include investments in new technology, advanced products, and research and development. Additionally, investments in drones, virtual reality systems, and automation technology are necessary to keep up with impressive advancements in the industry. However, these investments in infrastructure and technological devices can potentially pose challenges to the future growth of the market.

Global Event Management Market Competitive Landscape

The forecast period is anticipated to witness an escalation in competition within the global Event Management market. This can be attributed to the entrance of new players into the market and an increase in the availability of services compatible with Event Management. Presently, the global market is primarily served by a limited number of key players, but this landscape is expected to evolve with a rise in the number of providers offering their services in the coming years.

Top Player’s Company Profiles

• Bassett Events, Inc
• MKG
• Colin Cowie
• David Tutera
• A Perfect Event
• Rafanelli Events
• Oren Co
• Wonderland
• Eventive
• Royal DSM
• Autodesk
• Lincoln Financial Group
• Parkinson Foundation
• Visit Orlando

Recent Developments

• In October 2022, Events.com, a global provider of event planning and sponsorship management software, made an acquisition of HelpGetSponsors.com (HGS), a company specializing in event sponsorship technology. This strategic acquisition enables Events.com to enhance its offerings by equipping its existing and prospective customers with the necessary tools and expertise to discover, secure, and efficiently manage sponsors, in-kind partners, vendors, and expo sales.

Global Event Management Market Segmentations

Type

• Music Concert
• Festivals
• Sports
• Exhibitions and Conferences
• Corporate Events and Seminars
• Others

Revenue sources

• Ticket Sale
• Sponsorship
• Others

Organizer

• Corporate
• Sports
• Education
• Entertainment
• Others