Events Industry Market to Reach $2.5 Trillion, Globally, by 2035 at 6.8% CAGR: Allied Market Research

As awareness of environmental issues continues to rise, event organizers are increasingly incorporating green initiatives into their operations to reduce the environmental footprint of events. This trend includes the use of sustainable materials, minimizing waste through digital event collateral and paperless registration, reducing energy consumption with LED lighting and eco-friendly transportation options, and sourcing locally produced food and beverages to reduce carbon emissions.

/EIN News/ -- Wilmington, Delaware, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Events Industry Market by Type (Music Concert, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminar, and Others), Revenue Source (Ticket Sale, Sponsorship, Food and Beverage, Advertising, Merchandise Sales, Membership Fees, Participation Fees, Media and Licensing Revenue, and Others), Organizer (Corporate, Sports, Education, Entertainment, and Others), Age Group (Below 20 Years, 21 to 40 Years, and Above 40 Years), Origin of Attendees (National, Continental, and Transcontinental), and Event Location (Tier 1 Cities, Tier 2 Cities, and Tier 3 Cities): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the global events industry market size was valued at $736.8 billion in 2021, and is projected to reach $2.5 trillion by 2035, growing at a CAGR of 6.8% from 2024 to 2035. 

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Prime Determinants of Growth 

The event industry has undergone rapid digital transformation, driven by advancements in technology that are reshaping how events are planned, executed, and experienced. Virtual platforms, AI-powered tools, and data analytics are becoming central to event management, allowing organizers to streamline operations, improve attendee experiences, and analyze post-event metrics in real time. Live streaming and virtual events have gained significant traction, especially post-pandemic, by expanding the reach of events to global audiences. In addition, immersive technologies such as augmented reality (AR) and virtual reality (VR) are used to enhance attendee engagement, offering interactive environments and personalized experiences. These innovations are not just trends but have become foundational elements that will continue to drive event market growth. Furthermore, the economic development and increase in urbanization in regions such as Asia-Pacific and Africa present vast opportunities for the event industry. Countries such as China, India, and the UAE are witnessing rapid growth in both corporate and entertainment events due to a rise in disposable incomes and the expansion of business sectors 

Report coverage & details: 

Report Coverage	Details
Forecast Period	2024–2035
Base Year	2021
Market Size in 2021	$736.8 billion
Market Size in 2035	$2,517.74 billion
CAGR	6.8%
No. of Pages in Report	562
Segments Covered	Type, Revenue Source, Organizer, Age Group, Origin of Attendees, Event Location, and Region.
Drivers	Digital Transformation and Innovation  Corporate Focus on Marketing and Networking  Rise in Experiential Events and Consumer Demand
Opportunities	Sustainability and Green Events  Emerging Markets in Asia-Pacific and Africa
Restraint	Economic Volatility and Budget Constraints  Health and Safety Concerns

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Corporate events and seminar segment to maintain its leadership status throughout the forecast period 

By type, the corporate events and seminar segment held the major share of the market share in 2023, accounting for more than one-fourth of the global event industry market and is estimated to maintain its leadership status throughout the forecast period. Corporate events and seminars are organized to create a learning-by-doing atmosphere through experiments, discussions, and interactions among participants. They comprise various types of gatherings, such as conventions, symposia, congresses, incentive group events, marketing events, special celebrations, seminars, courses, public or trade shows, product launches, exhibitions, company general meetings, corporate retreats, study tours, or training programs. 

Sponsorship segment to retain its dominance by 2035 

By revenue source, the sponsorship segment held the major share of the market in 2023, accounting for more than two-fifths of the global event industry market, and is estimated to maintain its leadership status throughout the forecast period. Sponsorship plays a crucial role in effective marketing due to its ability to enhance event programs and offset increasing expenses. It serves as a potent complement to other marketing initiatives, as it effectively delivers messages to the target audience and helps to build brand awareness. Thus, by sponsoring events, businesses can expand their reach to potential buyers and customers, ultimately driving sales. 

Entertainment segment to retain its dominance by 2035 

By organizer, the entertainment segment held the major share of the market in 2023, accounting for more than one-fourth of the global event industry market and is estimated to maintain its leadership status throughout the forecast period. The entertainment industry comprises club festivals that feature music conferences and international music professionals. These conferences bring together performing artists and speakers from around the globe to network and share ideas. The lineup of speakers includes entrepreneurs, artists, producers, and industry leaders. These events primarily aim to innovate, educate, and inspire professionals in the electronic music field and foster discussions on new technologies and social & environmental responsibility. 

21 to 40 Years segment to retain its dominance by 2035 

By age group, the 21 to 40 Years segment held the major share of the market in 2023, accounting for more than two-fifths of the global event industry market and is estimated to maintain its leadership status throughout the forecast period. The significant growth of this market, especially among individuals aged between 21 and 40 years, can be attributed to their enthusiastic engagement in diverse events, including exhibitions, conferences, seminars, and music concerts. This age group actively participates in various gatherings and shows, contributing to the overall market expansion. In addition, there is a rising interest in entrepreneur and business-focused seminars and conferences, where young individuals who seek to establish their own ventures can gain valuable guidance and insights. 

21 to 40 Years segment to retain its dominance by 2035 

By origin of attendees, the national segment held the major share of the market in 2023, accounting for more than three-fifths of the global event industry market and is estimated to maintain its leadership status throughout the forecast period. Local events tend to draw attendees from within the host country due to the ease of travel, reduced costs, and the relevance of the event to domestic industries or communities. Public initiatives and regional gatherings focused on national topics generally draw an audience from within the country 

Tier 1 cities segment to retain its dominance by 2035 

By event location, the tier 1 cities segment held the major share of the market in 2023, accounting for more than half of the global event industry market and is estimated to maintain its leadership status throughout the forecast period. Tier 1 cities are driven by their world-class infrastructure, international airport hubs, and established reputation as business and cultural centers. These cities typically have a high concentration of multinational corporations, major conference venues, five-star hotels, and advanced transportation systems, making them prime locations for international and large-scale events. Global connectivity through direct flights, along with a well-developed tourism industry, ensures high attendance. 

Europe to maintain its dominance by 2035 

By region, Europe held the highest market share in terms of revenue in 2023, accounting for nearly one-third of the global event industry market. Germany and Spain are expected to experience the highest increase in activity, with various types of meetings witnessing growth in both numbers and attendees. Companies in the region have become more prudent with their spending, which thus leads to a demand for events within closer proximity and at mid-scale venues such as conferences, seminars, and festivals. Europe has been successful in attracting international association conferences, with over half of the top destinations for such conferences located in the region. The events industry in Europe experiences further growth due to increase in the adoption of smart devices and internet usage, which resulted in a gradual rise in online bookings for music concerts, sports events, and other gatherings.     

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Leading Market Players 

• Access Destination Services 

• BCD GROUP (BCD MEETINGS & EVENTS) 

• ATPI Ltd. 

• Riviera Events 

• Entertaining Asia 

• Live Nation Worldwide Inc. 

• StubHub 

• Anschutz 

• Entertainment Group 

• Pollstar 

• Cvent Inc. 

• Capita Plc. 

• Reed Exhibitions 

• Questex LLC 

• Outback Concerts 

• The Freeman Company 

• Penguins Limited 

• CL Events 

• Seven Events Ltd. 

• Clarion Events Ltd. 

• Versatile Event Management 

The report analyzes these key players in the global event industry market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player. 

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