Portland, OR, Oct. 03, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global events industry generated $1,100 billion in 2018, and is projected to reach $2,330 billion by 2026, registering a CAGR of 10.3% from 2019 to 2026. The report offers an extensive analysis of drivers & opportunities, key segments, top winning strategies, market size & estimations, and competitive landscape.

Rise in number of sponsors, enhanced reach among youth population, and increase in inclination toward entrepreneurship among youth drive the growth of the global events market. However, huge costs of operations and organization along with risks involved in uncertainty of returns restrain the market growth. On the other hand, technological advancements present new opportunities in the industry.

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Based on type, the corporate events & seminar segment held the highest share in 2018, accounting for more than one-fourth of the total market share, and is expected to continue to lead during the forecast period. This is due to rise in number of companies and seminars & events organized by them. On the other hand, the music concert segment is estimated to register the fastest CAGR of 11.9% from 2019 to 2026.

Based on age group, the 21–40 years segment contributed the largest share in 2018, contributing more than two-fifths of the total market share in terms of revenue, and is estimated to retain its dominant share throughout the forecast period. Moreover, this segment is expected to grow at the highest rate, with a CAGR of 11.6% from 2019 to 2026. The research also discusses the below 20 years and the 41 years & above segments.
Europe accounted for nearly two-fifths of the total market share in 2018, and is estimated to maintain its dominating position during the forecast period. This is due to adoption of nearly half of the top cities and countries for destinations of international conferences. On the other hand, Asia-Pacific is expected to witness the highest CAGR of 13.0% throughout the forecast period, owing to continuous sports leagues, digital activation, and ability to grow and adapt with innovative technology.

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Leading industry players discussed in the research are Access Destination Services, BCD Group (BCD Meetings & Events), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, and others.

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