Global Event Management Services Market by End-users (Corporates, PO & NGO, and Individuals) and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

The global event management services market size is expected to register a robust CAGR during the forecast period, between 2021 and 2028. Events refer to public gatherings in specified venues or areas at a predetermined time and place. These events require various services such as catering, decor, and staffing. Event management involves a series of actions including planning, organizing, coordinating, and executing of event activities to ensure smooth functioning of the entire event. Events such as exhibitions, parties, conferences, fundraising, festivals and others are hosted by corporates, NGOs or individuals, which require several arrangements. However, it is not possible for an individual to conduct the entire event alone, which often leads to the hiring of event management services for organizing the events. The primary step in event management is to analyze the audience or the public besides providing all their requirements to make the events successful.

Market Trends, Drivers, Restraints, and Opportunities

• High number of organizing events related to several social, cultural, and political functions or programs require management services. This factor primarily drives the market.
• Availability of skills and specialised individuals for various tasks during event management to ensure better management services present another key factor pushing to boost the market.
• Deployment of various innovative technology for smooth and effective event handling as well as recording of events has positively impacted the market growth.
• Marketing advertisement opportunities for event management companies especially in sports events lead to sponsorship offers. This is expected to spur the market during the forecast period.
• COVID-19 negatively impacted the market as it caused disruptions in social gatherings or events, which negatively impacted the event management services market.
• Increasing infrastructural investment and technology up gradation for event management are expected to provide lucrative opportunities for market expansion.

Scope of the Report

The report on the global event management services market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Global Event Management Services Market Segment Insights

High availability of funds and investments drive the corporate segment

Based on end-users, the global event management services market is segmented into corporates, PO & NGO, and individuals. The corporates segment is projected to witness significant growth during the forecast period owing to large number of corporate events that require event planning and organizing. Corporate firms often organize a series of events including quarterly meeting and several conference to discuss various important matters of their business operations. Organizing such events require event management services to plan and execute these events. High availability of funds and investments facilitate the corporate companies to avail the services of event management firms. Various seminars, conferences, and fundraising events are held by companies which are handled by event management firms.

Meanwhile, the PO & NGO segment is projected to exhibit high CAGR during the forecast period owing to wide charity events organized by NGO for several programs such as fundraisers, awareness programs, and others. The events hosted by charitable organizations are required to be planned and delivered by event management service providers. The NGOs that are funded by private individuals or crowd funding, have a certain spending limit on events. The budget constraint is looked into by event mangers and the event is executed within the budget. The individual segment involves various non-corporate groups that hold private events. Such events include entertainment parties, festivals, and others for which the event management services are availed to ensure the enjoyment and merriment of the audience or the public.

North America to dominate the global market

In terms of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a significant share of the market in 2020 and is expected to dominate the market in the coming years owing to large number of corporate events in the region for fundraising or product launches. The employment of event management services has substantially increased due to the availability of funds and large corporate investments. Additionally, frequent organizing of individual parties or private social gatherings due to the rise in disposable income and rise in per capita income of a large number of the population are key factors boosting the regional market. The market in Asia Pacific, on the other hand, is expected to witness significant growth during the forecast period owing to the large population and the emergence of event management as a significant career option in the region.

Segments

• Corporates
• PO & NGO
• Individuals

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

• Access Destination Services
• ATPI Ltd.
• Riviera Events
• Entertaining Asia
• Live Nation Worldwide Inc.
• Anschutz Entertainment Group
• Pollstar
• Cvent Inc.
• Reed Exhibitions
• Outback Concerts
• The Freeman Company
• Penguins Limited
• CL Events
• Clarion Events Ltd
• Versatile Event Management

Competitive Landscape

Key players competing in the global event management services market are Access Destination Services; ATPI Ltd.; Riviera Events; Entertaining Asia; Live Nation Worldwide Inc.; Anschutz Entertainment Group; Pollstar. Cvent Inc.; Reed Exhibitions; Outback Concerts; The Freeman Company; Penguins Limited; CL Events; Clarion Events Ltd; and Versatile Event Management. These players have widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their consumer base globally.