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Events Market share is expected to grow from US$ 958.54 billion in 2021 to US$ 1,965.99 billion by 2028. Events market size is estimated to grow at a CAGR of 11.1% from 2022 to 2028

May 26th, 2022 1:48 PM

Events Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Event Type, Revenue Source, Type, Organizer, Application, Enterprise Size, and Geography, the events market share is projected to reach US$ 1,965.99 billion by 2028 from US$ 958.54 billion in 2021. The events market size is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

Sports have become more commercialized, generating more promotion and sponsorship. Businesses that participate in sponsorship programs gain recognition for their brands and expand their footprints. On the other hand, sponsoring firms get both concrete and intangible advantages, such as increased brand exposure and presenting a favorable picture of the company to stakeholders of events market.

Businesses benefit from sponsorship by increasing awareness regarding their products and services among consumers, using modern advertising, and differentiating their brands from others. Sports sponsorship is a smart and diverse marketing strategy that offers organizations a lot of possibilities. Sponsorships enable businesses to engage with international clients beyond national borders, and they use these programs to achieve various corporate goals and marketing initiatives.

Key Players Influencing the Market

  • Access Destination Services
  • Anschutz Entertainment Group
  • ATPI Ltd.
  • BCD Meetings & Event
  • Cvent Inc.
  • Entertaining Asia
  • Live Nation Worldwide, Inc.
  • Pollstar
  • Riviera Events
  • StubHub

Along with corporate and commercial events, other entertainment event shows, such as music concerts and hip-hop music shows, attract a large pool of young people interested in paying for such exciting live music events. As every business and startup needs branding and marketing, events are the perfect platform for them to sell their business by sponsoring entertainment event shows, such as live music events, sports events (IPL), and so on.

Events provide an excellent opportunity for new artists to display their abilities, which helps many of them advance in their careers. Stand-up comedy and motivational shows are also popular across the world.

With the enormous number of people working from home and spending more time online, day and night, the COVID-19 pandemic has accelerated the shift to digital. The increasing demand for digital resources is stressing the systems of many software and platform organizations and inhibiting their ability to deliver services with quality and reliability. Since the outbreak, the popularity of virtual events has risen, led by the increasing demand for mobility solutions by a range of key stakeholders, including associations, professional meeting organizers, company executives, marketing managers, product management, and human resources. However, the market also had to face issues due to the cancellation of various sporting events, exhibitions, prominent festivals, concerts, weddings, and others to curb the spread of the COVID-19 virus.

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