Event Management Services Market

Event Management Services Market

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Raksha

Author:

Raksha Sharma

Amulya

Fact-checked by:

Amulya Agarwal

Shruti

Editor:

Shruti Bhat

Event Management Services Market Outlook

The global event management services market size was valued at USD 555 Billion in 2022 and is likely reach to USD 1073.01 Billion by 2031, expanding at a CAGR of 7.6% during the forecast period, 2023–2031The market growth is attributed to the growing demand for professional event planners as they recommend cost-effective ways for decorations, catering, and others.

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 the smooth functioning of the entire event.

Event Management Services Market Outlook

Events such as exhibitions, parties, conferences, fundraising, festivals, and others are hosted by corporations, NGOs, or individuals, which require several arrangements.

However, an individual can't conduct the entire event alone, which often leads to the hiring of event management services to organize 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.

Event Management Services Market Dynamics

Major Drivers

High number of organizing events related to several social, cultural, and political functions or programs require management services. This factor primarily drives the market. The availability of skills and specialized individuals for various tasks during event management to ensure better management services presents another key factor pushing to boost the market. 

The deployment of various innovative technologies for smooth and effective event handling and 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.

Existing Restraints

COVID-19 negatively impacted the market as it caused disruptions in social gatherings or events, which negatively impacted the event management services market.

Emerging Opportunities

Increasing infrastructural investment and technology gradation for event management are expected to provide lucrative opportunities for market expansion.

Scope of Event Management Services Market Report

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

Attributes

Details

Report Title

Event Management Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023–2031

Segmentation

Type (Association Events, Corporation Events, and Non-Profit Events), End-user (Corporates, PO & NGO, and Individuals)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market Scope, Analysis, Share, Competitive Analysis, Growth Facts, Restraints, Opportunities, and Revenue Forecast

Key Players Covered

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

Event Management Services Market Segment Insights

Type Segment Analysis

On the basis of type, the market is trifurcated into association events, corporation events, and non-profit events. The corporate event segment is projected to register a significant CAGR during the forecast period. 

Event Management Services Market Type

End-User Segment Analysis

Based on end-user, 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 many corporate events requiring event planning and organizing.

Corporate firms often organize a series of events including quarterly meetings and several conferences to discuss various important matters of their business operations.

Organizing such events requires event management services to plan and execute these events. High availability of funds and investments facilitates corporate companies to avail the services of event management firms. Various seminars, conferences, and fundraising events are held by companies that event management firms handle.

Event Management Services Market End User

Meanwhile, the PO & NGO segment is projected to exhibit high CAGR during the forecast period owing to wide charity events organized by NGOs 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 funded by private individuals or crowdfunding have a certain spending limit on events.

The budget constraint is looked into by event managers 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 event management services are availed to ensure the enjoyment and merriment of the audience or the public.

Event Management Services Market Regional Analysis

In terms of region, 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 a 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 the 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 an effective career option in the region.

Event Management Services Market Region

Segments

Type

  • Association Events
  • Corporation Events
  • Non-Profit Events

End-User

  • Corporates
  • PO & NGO
  • Individuals

Region

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

Key Players

  • 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.

Event Management Services Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Event Management Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Event Management Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Event Management Services Market - Supply Chain
  4.5. Global Event Management Services Market Forecast
     4.5.1. Event Management Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Event Management Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Event Management Services Market Absolute $ Opportunity
5. Global Event Management Services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Event Management Services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Event Management Services Demand Share Forecast, 2019-2026
6. North America Event Management Services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Event Management Services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Event Management Services Demand Share Forecast, 2019-2026
7. Latin America Event Management Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Event Management Services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Event Management Services Demand Share Forecast, 2019-2026
8. Europe Event Management Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Event Management Services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Event Management Services Demand Share Forecast, 2019-2026
9. Asia Pacific Event Management Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Event Management Services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Event Management Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Event Management Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Event Management Services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Event Management Services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Event Management Services Market: Market Share Analysis
  11.2. Event Management Services Distributors and Customers
  11.3. Event Management Services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Access Destination Services
     11.4.2. ATPI Ltd.
     11.4.3. Riviera Events
     11.4.4. Entertaining Asia
     11.4.5. Live Nation Worldwide Inc.
     11.4.6. Anschutz Entertainment Group
     11.4.7. Pollstar

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