Wilmington, Delaware, Nov. 03, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. events market size was valued at $94.8 billion in 2020 and is expected to reach $538.6 billion by 2030, registering a CAGR of 13.0% from 2021 to 2030.
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The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2020 | $94.8 Billion |
| Market Size in 2030 | $538.6 Billion |
| CAGR | 13.0% |
| No. of Pages in Report | 134 |
| Segments Covered | Type, Revenue Source, Organizer, Age Group, and Income Group |
| Drivers | Increase in sponsorship for events |
| Rise in interest among youth in entrepreneur & business seminars | |
| Restraints | High operational cost involved in organizing events |
| Entry barriers due to presence of existing giant players | |
| Opportunities | Technological advancements |
The U.S. Events market is segmented into segmented based on type, revenue source, organizer, age group, and income group. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise strategies based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the corporate events & seminar type segment accounted for the maximum share in the 2020. This is attributed to rise in number of corporate companies coupled with frequent seminars and events conducted by them. In addition, seminars and events involve interaction between speaker and audience, thereby increasing the number of attendees.
By revenue source, the sponsorship segment dominated the market, which accounted for 48% U.S. Events market share in 2020, and is expected to continue this trend throughout the U.S. Events market forecast period. Moreover, sponsoring an event increases reach among potential buyers and customers, which drives the sales.
On the basis of age group, the 21–40 years segment contributed to the maximum share in 2019, owing to rise in interest toward entrepreneur & business seminars along with music concerts and festive gatherings.
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The major players analyzed in U.S. Events market report are Access Destination Services, LLC, Anschutz Entertainment Group, BCD Meeting & Events, BI Worldwide, Creative Group, Inc., Cvent, Inc., ITA Group, Maritz Holdings, Inc., The ATPI Group, and 360 Destination Group.
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