(MENAFN- EIN Presswire) virtual events offer a cost-effective means to efficiently bring the number of attendees from all over the globe to a purposeful gathering
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, May 6, 2024 /EINPresswire / -- The UK events market was valued at $74.9 billion in 2018, and is projected to reach $139.9 billion by 2032, registering a CAGR of 5.0% from 2023 to 2032.
Allied Market Research published a report, titled, "UK Events Industry by Type, Revenue Source, Organizer, and Age Group: Opportunity Analysis and Industry Forecast, 2023-2032". 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.
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The term event refers to organizing a show which involves a public gathering at a pre-determined place and time. The most popular events include conferences & exhibitions, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, product launches, and similar others. The initial stage of a major event involves understanding the audience and the behavior that excites and emotionally engages them. The final stage involves conducting an event appropriately.
There are many events competing for people's time and financial resources in the UK's fiercely competitive events market. It is challenging for new events to stand out and draw crowds in specific event sectors or geographical areas. To meet this issue, it is essential to differentiate events with marketing that is successful and focuses on the right audience. Success in the events sector is influenced by its standing and how the public views it. The reputation of the sector is harmed by negative events like security lapses, logistical problems, or subpar event experiences. Professionals in charge of events must put in a lot of effort to uphold strict standards, guarantee guest pleasure, and immediately handle any issues. Thus, UK events industry trends are driving the UK events industry.
Government support and investment play a crucial role in the growth and development of various industries, including the events industry. However, the growth of the events industry in the UK is being held back by skills and labor shortages. On the other hand, brand exposure and marketing opportunities present remunerative opportunities for the expansion of the events industry in the UK during the forecast period.
The UK events industry is segmented into type, revenue source, organizer, and age group. On the basis of type, the market is divided into music concerts, festivals, sports, exhibitions & conferences, corporate events & seminars, and others. On the basis of revenue source, it is segregated into ticket sale, sponsorship, and others. As per organizer, it is categorized into corporate, sports, education, entertainment, and others. By age group, it is fragmented into below 20 years, 21-40 years, and above 40 years.
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By type, the corporate events and seminars segment held the highest market share in 2022, accounting for more than one-fourth of the UK events industry revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to an increase in sponsorships for events. This trend is likely to attract more exhibitors and conference organizers in the UK. The music concerts segment, however, showcases the fastest CAGR of 6.0% during the forecast period. The UK is home to a great musical heritage and an important music sector, contributing to concerts' popularity and success.
By revenue source, the sponsorship segment held the highest market share in 2022, accounting for nearly two-fifths of the UK events industry share and is estimated to maintain its leadership status throughout the forecast period. This segment would showcase the fastest CAGR of 5.6% during the forecast period. Sponsoring an event increases the reach among potential buyers and customers resulting in increasing the UK events industry size.
By organizer, the entertainment segment held the highest market share in 2022, accounting for nearly one-fourth of the UK events industry share and is estimated to maintain its leadership status throughout the forecast period. This segment would showcase the fastest CAGR of 5.7% during the forecast period. Adapting to the changing environment, event creators and organizers have explored hybrid models of engagement that make events more inclusive. This adaptability and innovation are contributing to the growth potential of the entertainment sector in the UK events sector.
By age group, the 21-40 years segment held the highest market share in 2022, accounting for more than two-fifths of the UK events industry revenue and is estimated to maintain its leadership status throughout the forecast period. This segment, however, would showcase the fastest CAGR of 5.6% during the forecast period. The 21-40 years age group is characterized by a desire for unique experiences, personal growth, and networking opportunities. Events provide opportunities for networking, professional development, and personal enrichment, which are highly appreciated by individuals of this age group.
Leading Market Players: -
○ Firebird Events Ltd.
○ CL Events
○ Clarion Events Ltd.
○ Cvent Holding Corp.
○ BCD Group
○ Purple Lamb Events
○ Live Nation Entertainment, Inc.
○ Anschutz Entertainment Group
○ ATPI Ltd.
○ Eventurous Ltd.
The report provides a detailed analysis of these key players in the UK events industry. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the current UK events industry trends, estimations, and dynamics from 2022 to 2031 to assist to identify the prevailing UK events industry opportunities.
○ Major countries in each region are mapped according to the individual market revenue.
○ The region-wise and country-wise market conditions are comprehensively analyzed.
○ This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
○ An in-depth UK events industry analysis of each segment of the market is provided to assist the prevailing market opportunities.
Country Reports We Have in this Industry:
. U.S. Event Services Market: Opportunity Analysis and Industry Forecast, 2023-2032
. U.S. Corporate Event Market Opportunity Analysis and Industry Forecast, 2021-2030
. U.S. Event Services Market Opportunity Analysis and Industry Forecast, 2023-2032
. North America Corporate Event Market : Opportunity Analysis and Industry Forecast, 2017-2031
. UK Corporate Event Market: Opportunity Analysis and Industry Forecast, 2017-2031
David Correa
Allied Market Research
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