Events Industry Market Report 2024

This Events Industry market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The events industry market size has grown strongly in recent years. It will grow from $1.12 trillion in 2023 to $1.22 trillion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth during the historic period can be attributed to an increase in religious and cultural festivals, the emergence of public fairs, evolving consumer preferences, a focus on sustainability, and government support and regulation.

The events industry market size is expected to see strong growth in the next few years. It will grow to $1.76 trillion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth during the forecast period can be attributed to a rising interest in eco-friendly events, an increase in tourism and destination events, variations in corporate investment, a rise in business conferences, and a growing number of sports leagues. Key trends expected in this period include technological innovations, the emergence of 3D virtual venues, advancements in event technology, data-driven event planning, and the integration of artificial intelligence (AI).

The increasing popularity of sports leagues is expected to drive growth in the events industry market. Sports leagues are structured groups of teams or individual athletes that compete against one another over a defined period, typically governed by established rules and regulations. The rise in the number of sports leagues can be attributed to the growing interest in sports among participants and spectators, greater availability of resources for organizing events, and the expansion of broadcasting and digital media. The events industry offers essential infrastructure, including venue management, ticketing, and promotional activities, to support live sporting leagues that attract large audiences and enhance community engagement. For example, in January 2024, Deloitte Touche Tohmatsu Limited, a UK-based professional services network, reported that the top 20 football money league clubs generated a record revenue of $11.6 billion (€10.5 billion) in 2022-2023, reflecting a 14% increase from the previous year. Thus, the growing popularity of sports leagues is fueling the expansion of the events industry market.

Key players in the events industry market are concentrating on creating innovative solutions, such as event management software, to enhance various aspects of event organization, including registration and billing processes. Event management software is a digital tool designed to assist organizers in efficiently planning, executing, and managing events. These solutions streamline multiple components of event planning, from logistics and registration to marketing and post-event analysis. For instance, in June 2024, Evexus, an Australia-based software development firm, launched a comprehensive event management software solution aimed at enhancing event planning processes globally. This platform incorporates advanced technologies such as artificial intelligence (AI), sequential registration, and pay-first billing to fill a notable gap in the current event management market. These features are designed to redefine industry standards, streamline organization, and improve the overall event experience. Additionally, it helps event organizers promote sponsors, provide on-demand content, gather valuable data insights, and live-stream events.

In June 2023, Blackstone Inc., a US-based investment management company, acquired Cvent Holding Corp. for $4.6 billion. This acquisition aims to bolster Blackstone’s portfolio in event management and extend its market reach to deliver top-tier technology solutions to clients. Cvent Holding Corp. is a US-based software company that specializes in event management technology.

Major companies operating in the events industry market are Live Nation Entertainment Inc., RELX Group PLC, Anschutz Entertainment Group Inc., BCD Group Inc., Freeman Company, Informa PLC, ATPI Ltd., GL Events SA, Reed Exhibitions Limited, Messe Frankfurt GmbH, Cvent Inc, MCH Group AG, Clarion Events Ltd, Emerald Holding, Hyve Group plc, Questex LLC, Access Destination Services LLC, Bizzabo Inc., Social Tables Inc., Outback Concerts LLC, Riviera Events LLC, IMEX Group Ltd., Eventful Inc, CL Events Limited, Entertaining Asia Ltd.

Europe was the largest region in the events industry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the events industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the events industry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The events industry encompasses the planning, production, management, and execution of a wide range of events, varying in size and purpose. These include corporate events, conferences, exhibitions, trade shows, festivals, weddings, sporting events, concerts, and other social gatherings. The industry plays a key role in connecting individuals or organizations for social, educational, entertainment, or business objectives, often promoting networking, learning, and brand exposure. It also significantly contributes to the economy, especially in sectors such as tourism, hospitality, and media.

The main categories within the events industry include music concerts, festivals, sports events, exhibitions and conferences, corporate events and seminars, among others. Music concerts are live performances by artists or bands, typically hosted in venues such as arenas, theatres, or outdoor spaces. The participating age groups are typically below 20 years, 21-40 years, and above 40 years. Revenue sources include ticket sales, sponsorships, food and beverage sales, and other streams, with events organized by corporate entities, sports, educational, entertainment, and other organizers.

The events industry market research report is one of a series of new reports that provides events industry market statistics, including events industry global market size, regional shares, competitors with events industry market share, detailed events industry market segments, market trends, and opportunities, and any further data you may need to thrive in the events industry. This events industry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The events industry market includes revenues earned by entities by providing services such as catering services, venue selection and management, and advertising campaigns. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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