Press Release
Press Release
The events industry market is driven by the growing popularity of live performances such as music concerts and other events. Moreover, rapid technological advancements are helping enhance live events and performances, thus encouraging more participation rate.
Increasing disposable income is strengthening the market growth trajectory, with individuals showing their willingness to spend on in-person events combined with deeper digital engagement. According to the World Bank, Global GDP per capita, PPP (constant 2017 international) was USD 17,523 in 2022, which was only USD 16,589 in 2018.
Fig: Global GDP per capita, 2018-2023, PPP (constant 2017 international)
In addition, the rising adoption of advanced technology in the industry is giving rise to new avenues for managing events, ensuring security and providing new experiences. Real-time rendering technology, 3D animations, Virtual Reality (VR), and Artificial Reality (AR) are some of the examples of these technologies. 3D animations are used in real-time, helping the visuals to react and adapt in sync with the live performance.
Furthermore, sustainability in the event industry has become an increasingly important consideration as the world acknowledges the need for environmentally and socially responsible practices. Green Venue, organised waste management, consolidated transportation services, and partnerships with eco-friendly businesses and organisations are some of the ways to inculcate sustainability in events organised.
Further, the market players are focusing on mergers and collaborations to increase their reach and profitability. For instance, in November 2023, the Saudi Tourism Authority (STA) partnered with RX Global, the organizer of the World Travel Market (WTM), under a two-year agreement, which marked their third consecutive year of collaboration. As the 'Global Travel Partner,' STA featured prominently at WTM events, including WTM London, WTM Africa, WTM Latin America, and Arabian Travel Market (ATM).
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The major players in the global events industry market are ATPI Ltd., Triumph Group International S.P.A. Benefit Company, Reed Exhibitions Limited, GL events Group, BCD Meetings & Events, Anschutz Entertainment Group, Inc., ASM Global, CTS EVENTIM AG & Co. KGaA, Clarion Events Ltd., and Cvent Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Event Type |
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Breakup by Revenue Source |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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