Event Market: The Key To Successful Business Strategy Forecast Till 2031

Event Introduction

The Global Market Overview of "Event Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The Event market is expected to grow annually by 8.9% (CAGR 2024 - 2031).

An event is a planned occasion where people come together for a particular purpose, such as a conference, festival, party, or sporting event. The purpose of an event is to bring people together to share ideas, celebrate, educate, or raise awareness about a cause. Events can range in size from intimate gatherings to large-scale productions with thousands of attendees.

Some advantages of hosting events include building brand awareness, increasing customer loyalty, generating leads, and creating networking opportunities. Events also provide a platform for organizations to showcase their products, services, and expertise to a targeted audience.

The event market is constantly growing and evolving as businesses and organizations recognize the value of connecting with their customers and stakeholders in person. With the widespread use of social media and digital marketing, events have become even more impactful in reaching and engaging with audiences.

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Market Trends in the Event Market

- Virtual and hybrid events: With the rise of technology, more events are incorporating virtual elements to reach wider audiences and cater to changing consumer preferences.

- Sustainability initiatives: Consumers are increasingly conscious of environmental impact, leading to a demand for sustainable event practices such as recycling, composting, and reducing waste.

- Personalization and customization: Events are becoming more tailored to individual preferences, offering personalized experiences through advanced data analytics and technology.

- AI and AR/VR integration: Artificial intelligence and augmented/virtual reality are being used to enhance event experiences, from interactive displays to personalized recommendations.

- Health and safety protocols: In the wake of the pandemic, health and safety measures are a top priority for events, leading to increased sanitation, social distancing, and contactless technologies.

Overall, the event market is expected to grow as these trends continue to shape the industry and drive innovation.

Market Segmentation

The Event Market Analysis by types is segmented into:

• Cloud-based
• On-premise

Cloud-based events refer to virtual events that are hosted on the internet, allowing users to access them from any device with an internet connection. On-premise events, on the other hand, are physical events that take place at a specific location. Both types of events have helped boost the demand in the event market by providing flexibility and accessibility to a wider audience. Cloud-based events minimize the need for travel and accommodation expenses, while on-premise events offer a more interactive and engaging experience for attendees, ultimately driving the growth of the event industry.

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The Event Market Industry Research by Application is segmented into:

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

Events can be used by large enterprises to organize conferences, product launches, and employee training programs. Small and medium-sized enterprises (SMEs) can utilize events for marketing, networking, and customer engagement purposes. These applications of events help in brand building, lead generation, and business expansion. The fastest growing application segment in terms of revenue is experiential marketing events, where companies create immersive experiences for their audience to promote their products or services effectively. This segment has seen a surge in demand due to the increasing emphasis on customer experience and engagement in today's competitive market.

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Geographical Spread and Market Dynamics of the Event Market

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

The event market in North America is highly saturated and competitive, with a strong focus on innovation and technology. The United States and Canada offer a wide range of opportunities for event organizers, with a growing demand for personalized and interactive experiences. In Europe, Germany, France, the ., Italy, and Russia have robust event markets driven by a strong economy and cultural diversity.

In the Asia-Pacific region, China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia are emerging as key players in the event industry, fueled by rapid urbanization and a growing middle class. Latin America, including Mexico, Brazil, Argentina, and Colombia, offer a vibrant market for events, with a focus on creativity and cultural heritage.

In the Middle East & Africa, Turkey, Saudi Arabia, UAE, and Korea are witnessing a surge in event activities, driven by government investments and the rise of digital platforms. Key players like Aventri, Bizzabo, Cvent, and Swoogo are capitalizing on these market dynamics through continuous product innovation, strategic partnerships, and expansion into new regions. Factors contributing to their growth include increasing demand for seamless event management solutions, technological advancements, and a shift towards virtual and hybrid events in the post-pandemic era.

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Event Market Growth Prospects and Market Forecast

The global Event Market is projected to witness a CAGR of 10% during the forecasted period, driven by innovative growth drivers such as the increasing demand for unique experiences, the rise of virtual events, and the incorporation of technology in event planning and management. To increase growth prospects, deployment strategies such as hybrid events combining in-person and virtual elements, utilizing data analytics for personalized attendee experiences, and embracing sustainable practices are crucial.

Trends such as the popularity of influencer-led events, experiential marketing, and the use of AI and AR technologies to enhance participant engagement are expected to drive market growth further. Leveraging social media platforms for event promotion, partnering with relevant brands for co-marketing opportunities, and focusing on customer-centric event design are also key strategies to boost growth in the Event Market.

Overall, by adopting innovative deployment strategies and staying abreast of current trends, businesses in the Event Market can capitalize on opportunities for growth and success in this dynamic industry landscape.

Event Market: Competitive Intelligence

• Aventri
• Bizzabo
• Constant Contact
• Cvent
• Splash
• Swoogo
• GEVME
• Eventable
• Audiencetools
• Chumi Technologies

Aventri is a leading player in the competitive event market offering cloud-based event management software. Their innovative market strategies include focusing on personalized event experiences and seamless integration with other platforms. Aventri has shown steady revenue growth in recent years, with a strong presence in the corporate events sector.

Cvent is another key player in the event management industry, known for its comprehensive event planning and management platform. Cvent has a strong track record of past performance and success in the market, with a wide range of clients across various industries. The company has consistently shown impressive revenue figures, reflecting its position as a top competitor in the market.

Splash is a growing player in the event marketing space, offering a platform that helps businesses create and manage events. Their innovative approach to event marketing includes features like real-time analytics and customizable branding options. Splash has shown promising market growth prospects, with a focus on expanding its customer base and enhancing its platform capabilities.

- Aventri: Sales revenue of $50 million

- Cvent: Sales revenue of $200 million

- Splash: Sales revenue of $15 million.

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