Event Management Market Revenue to Skyrocket - $1.76 Trillion Opportunity by 2029 - Arizton

According to Arizton’s latest research report, the global event management market is growing at a CAGR of 11.06% 2023-2029.   

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Report Scope

Market Size (2029): $1.76 Trillion

Market Size (2023): $936.14 Billion

CAGR (2023-2029): 11.06%

Historic Year: 2019-2022

Base Year: 2023

Forecast Year: 2024-2029

Market Segments: Event Type, Client Type, Event Size, and Geography

Geographic Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa

Growing Interest in Entrepreneurship & Business Seminars Creating Huge Market Expansion 

The fascination of the younger generation with entrepreneurship and business seminars is rooted in their desire for knowledge and skill acquisition. Aspiring entrepreneurs and young professionals are increasingly aware of the value of networking and learning from industry experts. Business seminars offer them a platform to gain insights, receive mentorship, and connect with like-minded individuals. This eagerness to learn and develop their entrepreneurial competencies fuels the demand for business-related events, thereby driving the growth of the event management industry. Moreover, the evolving socio-economic landscape inspired many young individuals to explore entrepreneurship as a viable career path. The prospect of self-employment, innovation, and the potential for financial success is enticing for the youth. As a result, they actively seek out events and seminars that guide starting and managing businesses. Event management companies are capitalizing on this demand by organizing specialized workshops and seminars, further contributing to the market's growth.  

The Europe Event Management Market to Reach $530.65 Billion by 2029 

The event management market in Europe is a dynamic and thriving industry encompassing a wide range of 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. 

Sports events are also a significant driver of the event management industry in Europe. The UEFA Champions League Final is one of the most prestigious sporting events on the continent. It brings together football enthusiasts from all over Europe and the world to witness the clash of top clubs. Event managers are responsible for planning the logistics, security, and fan engagement activities during the event, making it a well-organized and exciting spectacle. The European event management market benefits from a highly skilled workforce, state-of-the-art venues, and a well-developed infrastructure. Event planners in Europe are often required to navigate diverse languages, cultures, and regulations when organizing international events, making the industry even more complex and rewarding. The continued growth of the event management sector in Europe reflects the region's attractiveness as a hub for global gatherings, offering a wide range of opportunities for event professionals and contributing significantly to the region's economic development.  

Recent Partnerships & Acquisitions  

· In September 2023, Freeman partnered with 42Chat to offer AI chatbots for event organizers. These chatbots would enhance attendee engagement by providing real-time assistance with registration and exhibit location tasks. The collaboration aimed to cater to the evolving needs of younger attendees and deliver accurate support around the clock. 

· In January 2022, Creative Group acquired Strategic Meetings and Incentives, an agency based in Scottsdale, Arizona, specializing in strategic meeting planning, event marketing, event production, and meeting management. This acquisition aligned with the expansion strategy of Creative Group and enhanced its service offerings for Fortune 100 and 500 clients. 

· In June 2023, PRA Events, a leader in the Business Events industry, acquired Weil & Associates, a prominent destination management firm in Hawaii. The move expanded the presence of PRA Events in the incentive market, with Weil & Associates founder Debbie Weil-Manuma leading the rebranded PRA Hawaii. This acquisition aligned with the growth plan of PRA Events and enhanced its capabilities in delivering exceptional destination experiences.  

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Key Company Profiles 

·      American Meetings 

·      Capita 

·      Creative Group 

·      Freeman 

·      GES 

·      Informa 

·      360 Destination Group 

·      Vista Events 

·      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  

Market Segmentation 

Event Type 

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

Client Type 

• Businesses & Corporations 
• Individuals 
• Government Agencies 
• Non-Profit Organizations 

Event Size 

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

Geography 

Europe 

• Germany 
• The UK 
• France 
• Spain 
• Italy 

North America 

• The US 
• Canada 

APAC 

• China 
• Japan 
• India 
• South Korea 
• Australia 
• Singapore 
• Thailand 
• Malaysia 
• Philippines 

Latin America 

• Brazil 
• Colombia 
• Mexico 
• Argentina 

Middle East & Africa 

• The UAE 
• Saudi Arabia 
• South Africa 
• Qatar  

Key Questions Answered in the Report: 

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?  

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