Global Event Management Services Market: Overview
Impressive growth rate is set to be recorded in the global event management services market over the forecast period of 2020 to 2030. As conferences, corporate events, exhibitions, live performances and festivals witness an increase in their number, demand for these services will grow, adding to the market worth in a big way. Transparency Market Research claims that corporate organizations, Non-Governmental Organizations, and public organizations are key stakeholders in the market landscape.
A host of other trends and drivers are also ensuring growth in the global event management services market. Some of these are growing disposable income, leading to higher demands for such events, and innovation in event organization. Creativity and new methods are out pouring, contributing to higher revenues in the market over the forecast period.
Global Event Management Services Market: Competitive Landscape
Over the forecast period, the global event management services market will witness developments in its landscape that have the potential of changing the way the market has traditionally operated. Some of the most notable players that are fuelling growth in the market, taking it on to a higher growth trajectory include:
- Access Destination Services
- BCD GROUP (BCD MEETINGS & EVENTS)
- ATPI Ltd.
- Riviera Events
- Entertaining Asia
- Live Nation Worldwide Inc.
- 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.
Players are highly focused on technology and improvement in their offerings to chart growth. Alliances also help these players to enter new markets or penetrate deeper into an existing one. Therefore, it is neither surprising nor uncommon to witness mergers and acquisitions and partnerships and collaborations.
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Global Event Management Services Market: Key Trends and Drivers
- A notable increase in events of varied types is seen across the world. This is set to drive the global event management services market on an upward facing growth curve over the forecast period. Some of these events that are increasing in number world over are music festivals, product launches, exhibitions, conferences, and so on.
- Increasing disposable incomes and draining work schedules are pushing the millennial populace towards a search for new and improved entertainment options. This is the reason that demands for events – music festivals, concerts, live events, and galas – are growing a dizzying pace. Additionally, it is worth noting here that event top-honchos require new and cerative use of technology, along with a memorable experience for their audience and the media.
Global Event Management Services Market: Regional Analysis
European region is set to witness traction in these services over the forecast period owing to increasing number of music festivals – regional and international. One of the most prominent events is Tomorrowland. This is driving a number of companies to crop up in the regional landscape. As they compete to gain stronger foothold, market revenue is expected to shoot up. Another strong regional market is that of North America. However, it is quite significant to note here that it will be the Asia Pacific (APAC) region that will lead players towards a hub of novel opportunities leading to profitability. Significant push to growth in this market will be given by India and China.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.