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2020

Asia Events Industry by Type

Asia Events Industry by Type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminar, and Others), Revenue Source (Tickets, Sponsorship, and Others) Organizer (Corporate, Sports, Education, Entertainment, and Others), and Age Group (Below 20 Years, 21-40 Years, and 41 Years & Above): Opportunity Analysis and Industry Forecast, 2019-2026

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Author's: Anil Kamble | Roshan Deshmukh
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The Asia events industry size was valued at $273.8 billion in 2018, and is estimated to reach $567.10 billion by 2026, registering a CAGR of 9.2% from 2019 to 2026. 

Eventrefers to public gathering of populace at a predetermined time and place for a purpose. The purpose for staging an event can be increase in business profitability, celebratory, entertainment, and community causes. The most popular events include conference & exhibition, corporate events & seminar, promotion & fundraising, music & art performance, sports, festival, trade shows, and product launch. The key stakeholders within the events market are corporate organizations, public organizations & NGOs, and similar others.

Asia-Events-Industry-2020-2026

The growth of the Asia events industry is majorly driven by upsurge in frequency of corporate meetings, inductions, conferences, exhibitions, music concerts, and sports events. Furthermore, the deployment of best-in-class technology that can handle the entire event propels the industry growth. Moreover, customarily held multidimensional events acts as a key driver of the Asia event industry market. In addition, increasein sponsorships from various brands such as Red bull, Monster Energy, Nike, and Cocoa Cola for a major Asian three-day festival as well as a small gig or act in a social club or arena boosts the market growth. The introduction of new media platforms and distribution methods further offers scope for giants to interact and organize events involving artists, performers, speakers, and business coaches. However, higher entry cost and industry fragmentation are some of the major restraints of the industry. On the contrary, surge in investment in travel & tourism is projected to boost the growth of the Asia event industry during forecast period.

The report segments the Asia events industry into type, revenue source, organizer, age group, and country. On the basis of type, the market is categorized into music concert, festivals, sports, exhibitions & conferences, corporate events & seminar, and others. By revenue source, it is segregated into tickets, sponsorship, and others. According to organizer, it is fragmented into corporate, sports, education, entertainment, and others. Depending on age group, it is classified into below 20 years, 21–40 years, and 41 years & above. Country wise, it is analyzed across India, China, Singapore, Malaysia, Japan, Philippines, Indonesia, South Korea and rest of Asia.

According to Asia events industry analysis, on the basis of type, the corporate events & seminarsegment accounted for the around one-third half of the Asia events industry share in 2018. This is attributed to the fact that corporate events and seminars help to build and strengthen relationship with existing and future clients and agencies. They serve as an ideal way to inspire and motivate employees, stake holders, and business associates. Corporate events and seminars are events conducted in a format that creates a learning-by-doing atmosphere through experiments, discussion, and interaction among the attendees. This may include conventions, symposia, congresses, incentive group events, marketing events, special celebrations, seminar, courses, public or trade shows, product launches, exhibitions, company general meetings, corporate retreats, study tours, or training programs. Globalization of the business and increase in outreach of companies are anticipated to further boost the demand for corporate events & seminars, thereby boosting the growth of the Asia events industry.

Asia Events Industry by Type
By Type
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The Corporate Events & Seminar segment helds the major share of 58.56% in 2019

Depending onrevenue source,the sponsorship segmentled the market in 2018, accounting for 47.3% share in the Asia events industry, and is expected dominate throughout the Asia events industry forecast period.This is attributed to the fact that sponsorship serves as a powerful and effective marketing tool to increase and reinforce brand awareness among targeted niche markets. In addition, development of the advertising & media industry has been the highlighting the importance of the sponsorship, which is expected to drive the Asia events industry growth, in the near future. An event sponsorship is referred to as a critical source of funding for all kinds of events where companies, nonprofits, and small businesses give a certain amount of cash or incentives in exchange for both visibility and brand awareness at an event. Several event organizers acquire sponsors to supply the necessary funding to offer more exciting programs and cover rising costs. 

Asia Events Industry by Type
By Revenue Source
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The Sponsorship segment helds the major share of 47.3% in 2019

By organizer, the sport events segment was valued at $67.84 billion in 2018, and is estimated to reach $135.36 billion by 2026, registering a CAGR of 8.7% from 2019 to 2026. This is attributed to the fact that tournaments such as FIFA, World Cup, and IPL attract a huge population base, which helps in revenue generation, owing to increase in interest toward such sports tournaments. In addition, rise in sponsorship by key players in events such as sports league and tournaments drive the growth of the market. Football and cricket are the considered as the major sports that are played worldwide and offer lucrative opportunities for investors to invest and get substantial return, in terms of profits. 

Asia Events Industry by Type
By Organizer
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The Corporate segment helds the major share of 27.8% in 2019

By age group, the 21-40 years segment forefronts the market, and garnered a share of 44.3% in Asia events industry in 2018. This is attributed to active participation of individuals aged between 21 and 40 years in events such as exhibitions, conferences, seminars, and music concerts. In addition, increase in interest toward entrepreneur & business seminars and conferences that offer proper guideline & direction to the youth for establishing start-ups along with arrangement of music concerts and festive gatherings is anticipated to positively impact the growth of the events industry. Moreover, surge in millennial population especially in the emerging economies such as India and China is anticipated to contribute toward the growth of the Asia events industry market during forecast period.

Asia Events Industry by Type
By Age Group
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The 21-40 Years segment helds the major share of 44.3% in 2019

Country wise, Chinawas the prominent market in 2019, which accounted for the maximum share in the market.Over the last 12 months, Shanghai and Beijing hosted majority of the sports, corporate events, and seminars in China, followed by Guangzhou, Hong Kong, and Macau. Rapid economic growth in China along with upsurge indemand for professional management skills in the China’s event market propelsthe growth of the Asia event industry. Moreover, increase in interest of youth in events such as conferences & events, exhibitions, concerts, and shows augments the growth of the market. The key industry segments boosting the growth for event industry in China are manufacturing, utility & agriculture, and forestry & fishing. Furthermore, India and Singapore are estimated to exhibit CAGRs of 13.9% and 16.3%, respectively, due to growing economies of the respective countries.

Asia Events Industry by Type
By Country
2026
China 
India
Singapore
Malaysia
Japan
Philippines
Indonesia
South Korea
Rest of Asia

The China helds the higest market share of 33.1% in 2019

The players in the Asia events industry have adopted various development alstrategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include ATPI LTD, BCD Meeting & Events, CAPITA PLC, CVENT Inc., Entertaining Asia, Live Nation Entertainment, Inc., Questex LLC, Reed Exhibitions Ltd, Riviera Events, Stubhub, Inc., and Lixil Group Corporation.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current Asia events industry trends, estimations, and dynamics from 2018 to 2026 to identify the prevailing opportunities.

  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.

  • In-depth analysis and the market size and segmentation assists to determine the prevailingAsia events industry opportunities.

  • The major countries are mapped according to their revenue contribution to the market. 

  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the Asia events industry.

Asia Events Industry by Type Report Highlights

Aspects Details
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By Type
  • MUSIC CONCERT
  • FESTIVALS
  • SPORTS
  • EXHIBITIONS & CONFERENCES
  • CORPORATE EVENTS & SEMINAR
  • OTHERS
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By Revenue Source
  • TICKETS
  • SPONSORSHIP
  • OTHERS
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By Organizer
  • CORPORATE
  • SPORTS
  • EDUCATION
  • ENTERTAINMENT
  • OTHERS
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By Age Group
  • BELOW 20 YEARS
  • 21 - 40 YEARS
  • 41 YEARS & ABOVE
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By Country
  • INDIA
  • CHINA
  • SINGAPORE
  • MALAYSIA
  • JAPAN
  • PHILIPPINES
  • INDONESIA
  • SOUTH KOREA
  • REST OF ASIA
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Key Market Players

LIVE NATION ENTERTAINMENT, INC., CAPITA PLC, CVENT INC., RIVIERA EVENTS, STUBHUB, INC., REED EXHIBITIONS LTD., ENTERTAINING ASIA, BCD Meeting & Events, QUESTEX LLC, ATPI LTD.

Analyst Review

According to the perspective of the top-level CXOS, the events industry is growing at a significant pace, and is anticipated to continue this trend in the coming years. Events are playing a vital role in revenue generation and brand equations for corporates and associations. It has been witnessed that events of the recent years are equally interesting as compared to the past decade, driving shifts in choice and pressurizing event planners and owners.

The CXOs further added that this industry is witnessing the entry of new and independent players who are leveraging technology to gain a competitive advantage in today’s consolidated environment. Rapid development in the business travel sector in recent decades has positioned China as the largest market for event industry in Asia. In addition, ease of visa restrictions, investments for improvement in infrastructure, and high demand in commercial aviation from India, Japan, Thailand, Malaysia, and other Asian countries are some of the other factors that fuel the growth of the Asia event industry. In addition, high penetration of internet & technology in the densely populated countries supports the growth of the market.  However, companies are facing challenges in this industry to manage live inventory for simple and small events. Conversely, the focus of companies is to enhance attendee experience and witness successful completion of an event without any hindrance. Hence, the event business model is designed, which drives the growth of the event industry.

Author Name(s) : Anil Kamble | Roshan Deshmukh

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Asia Events Industry by Type

Opportunity Analysis and Industry Forecast, 2019-2026