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Europe Events Market 2024
In 2020, depending on the type, the meeting and conference segment was valued at $10,430.4 million, accounting for 33.1% of the Europe events market share.
In 2020, the UK was the most prominent market in Europe, and is projected to reach $34,789.9 million by 2030, growing at a CAGR of 8.8% during the forecast period.” - Roshan Deshmukh
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, April 22, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled, "Europe Events Market by Service, by Type, by Smes: Opportunity Analysis and Industry Forecast, 2020-2030". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. Europe events market was valued at $31.4 billion in 2020, and is projected to reach $123.9 billion by 2030, growing at a CAGR of 8.7% from 2021 to 2030.
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Trade shows are a crucial part of marketing strategies, as they allow brands to present their products, target customers, and find new business partners. In the recent years, there has been continuous increase in the popularity of trade shows, hence, they are mostly organized on huge venues. Furthermore, grand ceremonies include conferences and corporate galas. In team-building events, the major aim is to build a strong relationship and trust among the team members. Furthermore, induction programs are held in the beginning of the month the most common start date for newly hired employees.
As per the Europe events market trends, based on the type, the meeting and conference segment dominated the market in 2020. Event companies and service providers are recognizing the impact of business meetings on revenue and brand. The incentive is estimated to be the fastest-growing segment. Incentive programs event companies in the Europe are increasing their focus on providing their incentive travelers with complete designed packages and deals for enhancing the experience of travelers.
Therefore, the corporate sector offers various opportunities for the event management companies to organize events, contributing to huge revenue generation, which, in turn, augments the growth of the Europe events market. The growth of the events industry is majorly driven by upsurge in frequency of corporate meetings, conferences, tradeshows/exhibitions, and other events.
The Europe events market is highly fragmented owing to the presence of numerous players in the market. These market players are constantly engaged in various developmental strategies such as acquisition, mergers, partnership, business expansion, and new product launches, which increases the intensity of competitive rivalry in Europe and helps them to exploit Europe events market opportunity.
Based on the SMEs, the small and medium enterprises segment was the leading segment, garnering a market share of 74.0% in 2020. The huge presence of the small and medium sized enterprises and the increased volume of corporate events conducted by them has propelled the growth of this segment. Small and medium enterprises are said to be the backbone of the European economy.
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According to the Europe events market forecast, based on the service, the virtual or hybrid event enabler segment is expected to grow at a highest CAGR of 10.9% from 2021 to 2030. This growth is attributable to the surging adoption of the ICT technologies among the event planners and the corporate houses in Europe. Moreover, the COVID-19 pandemic is the major factor behind the rapid growth of this segment. In 2020, the location rental segment dominated the market, garnering a market share of 31.3%.
The major players profiled in the report are Compass Group PLC, Dorier Group, Elior Group, Europa International, Event Security Management Ltd., Intelligent (UK Holdings) Limited, London Filmed, Martin Audio Ltd, The Creative Engagement Group, and Titan Security Europe.
Expansion and Prospects in the Europe Events Industry in Europe:
Sustainability: There is a growing emphasis on sustainability within the events industry, with organizers and venues focusing on reducing environmental impacts. This includes eco-friendly practices, waste reduction, and the use of renewable energy.
Technology Integration: The incorporation of advanced technologies like augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) is becoming more prevalent, enhancing attendee experiences and engagement.
Diversification of Event Types: Beyond traditional conferences and exhibitions, there is an increasing demand for unique and niche events. Specialized conferences, themed festivals, and experiential events are gaining popularity.
Destination Events: European cities continue to attract events and conferences due to their cultural richness, infrastructure, and accessibility. Destinations like Barcelona, Berlin, and Vienna are known for hosting major international events.
Innovation in Event Formats: The industry is expected to continue innovating in terms of event formats. The integration of new technologies and creative event design will be key to attracting and retaining attendees.
Collaboration and Networking: Events provide valuable opportunities for networking and collaboration. The industry's prospects may depend on how well organizers facilitate meaningful connections between participants.
Corporate Social Responsibility (CSR): Companies and event organizers are increasingly incorporating CSR initiatives into their events. This can include social and environmental initiatives, aligning events with broader societal goals.
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Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the europe events market analysis from 2020 to 2030 to identify the prevailing europe events market opportunity.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the europe events market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the regional market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as regional europe events market trends, key players, market segments, application areas, and market growth strategies.
Reasons to buy Europe Events Market Report:
. Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
. Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
. Classify potential new clients or partners in the target demographic.
. Develop tactical initiatives by understanding the focus areas of leading companies.
. Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
. Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
. Report will be updated with the latest data and delivered to you within 2-4 working days of order.
. Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
. Create regional and country strategies on the basis of local data and analysis.
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