Event Management Industry Analysis
An event management industry analysis is an important step before planning an upcoming event. This research identifies trends in the industry. In addition to talking to industry experts, it is also important to analyze resources from the Internet. This research also allows you to identify the pain points of current and potential customers. The key metrics you should measure include competitors’ service offerings, general expenditures on events, and more. If you are interested in entering the industry, it’s important to do your research.
The key market players in the event management industry are the following: Capita plc, Entertaining Asia, Access Destination Services, LIVE NATION ENTERTAINMENT, INC., and BCD Travel. The report also analyzes the competitive landscape, which includes a complete list of companies. The report also features key players in the industry, including Company Profile, Product Specifications, Production Capacity, Revenue, Gross Margin Sales, and more.
The market in the North American region is expected to grow rapidly during the forecast period. This region accounts for $506.2 billion in 2019 and is projected to increase by 54.3% CAGR over the next five years. Many multinational companies are based in this region, creating an increased demand for corporate events. Countries like India, China, and Japan are known for their industries and tourism, which in turn create a significant market for event management. The event industry in these regions contributes to the GDP of these countries.
The overall growth rate of the event management industry is projected to reach a high of 14% during the forecast period. The largest share in this market belongs to the SMEs segment, which includes organizations with fewer than 1000 employees. The competitive landscape has encouraged SMEs to invest in event management services and software. A majority of end-users in the industry are event organizers and planners. These companies help organizations develop and implement events for their clients. They can use the event management software to manage registrations, collect online payments, and view real-time reports.