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

Rise in sponsorship for events and surge in interest among youth in entrepreneurship & business seminars drive the growth of the U.S. events market. The entertainment segment accounted for the largest share in 2020, contributing to around one-third of the total share of the market. Owing to lockdown implemented across the country during the Covid-19 pandemic, many events such as music concerts, sports, and others were either canceled or postponed.

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Portland, OR, Feb. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. events market generated $94.8 billion in 2020, and is projected to reach $538.6 billion by 2030, witnessing a CAGR of 13.0% from 2021 to 2030.  The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Rise in sponsorship for events and surge in interest among youth in entrepreneurship& business seminars drive the growth of the U.S. events market. However, high operational costs and entry barriers due to presence of existing giant players hinder the market growth. On the other hand, technological advancementsand rise in infrastructural investments create new opportunities in the coming years.

Covid-19 Scenario:

  • Owing to lockdown measures implemented across the country during the Covid-19 pandemic, many events such as music concerts, sports, corporate seminars & conferences, and others were either canceled or postponed. This reduced the overall market revenue considerably.
  • The organization of webinars and online events increased during the lockdown with cancellation of physical events. The market is expected to recover post-lockdown.

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The report offers detailed segmentation of the U.S. events market based ontype, revenue source, organizer, age group, and income group.

Based on type, the corporate events & seminars segment contributed to the highest share in 2020, accounting for more than one-fifth of the total share, and is expected to continue its leadership status during the forecast period. However, the hybrid eventssegment is expected to register the highest CAGR of 17.3% from 2021 to 2030.

Based on organizer, the entertainment segment accounted for the largest share in 2020, contributing to nearlyone-third of the total share of the U.S. events market, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 13.9% from 2021 to 2030.

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Based on income group, the lower-middle-class segment held the highest share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position in terms of revenue by 2030. However, the upper-class segment is estimated to portray the largest CAGR of 13.7% during the forecast period.

Leading players of the U.S. events market analyzed in the research includeAccess Destination Services, LLC, BCD Meeting & Events, Anschutz Entertainment Group, Creative Group, Inc., BI Worldwide, ITA Group, Cvent, Inc., The ATPI Group, Maritz Holdings, Inc., and 360 Destination Group.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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