U.S. Events Market To Reach $538.6 Billion By 2030: Allied

PORTLAND, Oregon, Feb 1, 2022 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, American events market Generated US$94.8 billion in 2020, expected to reach US$538.6 billion by 2030, experiencing a compound annual growth rate of 13.0% from 2021 to 2030. The report provides a detailed analysis of changing market trends, top sectors, and investment pockets key, value chain, regional landscape, and competitive scenario.

The high level of event sponsorship and the increased interest among young people in entrepreneurship and business seminars is driving the growth of the events market in the United States. However, high operational costs and entry barriers due to the presence of giant players hamper the growth of the market. On the other hand, technological developments and the rise in infrastructure investments are creating new opportunities in the coming years.

Covid-19 scenario:

  • Due to the lockdown measures implemented across the country during the Covid-19 pandemic, many events such as concerts, sports, corporate seminars, conferences, etc. have either been canceled or postponed. This reduced the total market revenue significantly.
  • The organization of webinars and online events increased during the closure with the cancellation of physical events. The market is expected to recover after the close.

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The report provides a detailed breakdown of the US Events market based on type, source of revenue, regulator, age group, and income group.

By type, the Company’s events and seminars segment contributed the highest share in 2020, accounting for more than one-fifth of the total share, and is expected to continue its leadership position during the forecast period. However, the hybrid events segment is expected to register the highest compound annual growth rate of 17.3% from 2021 to 2030.

Based on the regulator, the entertainment segment captured the largest share in 2020, contributing nearly a third of the total US events market share, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is expected to show the fastest compound annual growth rate of 13.9% from 2021 to 2030.

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Based on the income group, the lower middle class segment occupied the largest share in 2020, accounting for more than two-fifths of the total share, and is expected to maintain its leading position in terms of revenue by 2030. However, the top of the estimated segment is Category largest compound annual growth rate of 13.7% during the forecast period.

Notable players in the US events market analyzed in the research include: Access Destination Services, LLC, BCD Meeting & Events, Anschutz Entertainment Group, Creative Group, Inc., BI Worldwide, ITA Group, Cvent, Inc., The ATPI Group, Maritz Holdings, Inc., 360 Destination Group.

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Allied Market Research (AMR) is a full-service market research and business consulting firm of Allied Analytics LLP headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

We are in professional institutional relationships with many companies and this helps us extract market data that helps us in creating accurate research spreadsheets and assures the utmost accuracy in our market forecasts. The CEO of Allied Market Research, Pawan Kumar, plays an essential role in inspiring and encouraging everyone associated with the company to maintain high quality of data and help customers in every possible way to achieve success. All data presented in the reports published by us are extracted through preliminary interviews with senior officials of the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.


        

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