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| Report Code: A15957 | Apr 2022 | Pages: 183 | ||
| Tables: 112 | Charts: 51 |
| |
The regional 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.
The outbreak of the COVID-19 pandemic has adversely impacted the Europe events market in 2020. The lock down measures implemented by the government in an attempt to curb the spread of the virus led to cancellation of almost all the exhibitions, in-person meetings, trade shows, conventions, and seminars. Moreover, a rapid decline in the international tourist arrivals in Europe during the pandemic further led to the decline of the events industry in Europe. Europe is among the top global destinations for hosting corporate events.
The growth of the Europe events industry market is driven by massive increase in business activities such as conference/seminar, brand promotions, and employee training activities, rapid development of the tourism & hospitability sectors, and expansion of IT hubs in the Europe. Other significant factors that promote the growth of the market include rise in business travel coupled with change in lifestyle of business travelers to seek leisure trips, rapid urbanization, and increase in disposable incomes. Therefore, the surging business activities is fueling the demand for the services of event planners, personnel service providers, furniture and equipment rental services, and other components of the corporate events. Furthermore, deployment of best-in-class technology that can handle the entire event propels the industry growth. Moreover, customarily held multi-dimensional events act as a key driver of the Europe events market growth.
The size of the businesses and its financial position decides the scale of a corporate event. The SMEs are increasingly engaging in various activities such as conducting exhibitions, meetings, conferences, and trade shows, which allows them to sustain the pace of their growth. Many SMEs in Europe are indulging into various activities such as team building, incentive programs, and training of employees to name a few. Therefore, the surge in growth of the SMEs sector in Europe is a major driver of the Europe events market size. Moreover, the government policies and initiatives to support the SMEs is further expected to fuel the growth of the SMEs, which in turn is projected to drive the demand for the corporate events in Europe.
The Europe events market is segmented into service, type, SMEs, and country. On the basis of service, the market is divided into strategy, planning, budget and development, communication and logistics, attendees management and engagement, event catering, virtual or hybrid event enabler, personnel services, location rental, furniture/equipment/music service rentals, and team building/experience providers. On the basis of type, it is segregated into meeting and conference, seminars, exhibition, incentive, and others. By SMEs, it is fragmented into small and medium enterprises and large enterprises. Depending on the country, the Europe events market size is analyzed across Italy, Sweden, Spain, France, UK, Germany, and Netherlands.
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%.
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.
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.
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. 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.
Europe Events Market Report Highlights
| Aspects | Details |
|---|---|
| By Service |
|
| By Type |
|
| By Smes |
|
| By Region |
|
| Key Market Players | dorier group, Titan Security Europe, Europa International, London Filmed, Event Security Management Ltd., Martin Audio Ltd, elior group, the creative engagement group, Intelligent (UK Holdings) Limited, compass group |
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 than the past decade, driving shifts in choice and pressurizing event planners and owners. This industry is witnessing the entry of new and independent players who are leveraging technology to gain a competitive advantage in the today’s consolidated environment. 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.
A. The Europe events industry size was valued at $31,425.0 million in 2020 and is expected to reach $123,851.6 million by 2030, registering a CAGR of 8.7% from 2021 to 2030.
A. The Europe events industry is expected to witness a significant CAGR of 8.7% from 2021 to 2030.
A. The sample of the Europe events industry report is available on request on the website of Allied Market Research.
A. The forecast period considered in the Europe events industry is from 2021 to 2030. The report highlights the upcoming market trends and provides market size insights for the forecast year.
A. 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.
A. The Europe events industry is segmented into service, type, SMEs, and country. On the basis of service, the market is divided into strategy, planning, budget and development, communication and logistics, attendees management and engagement, event catering, virtual or hybrid event enabler, personnel services, location rental, furniture/equipment/music service rentals, and team building/experience providers. On the basis of type, it is segregated into meeting and conference, seminars, exhibition, incentive, and others. By SMEs, it is fragmented into small and medium enterprises and large enterprises. Depending on the country, the Europe events industry is analyzed across Italy, Sweden, Spain, France, UK, Germany, and Netherlands.
A. Sweden accounted for a market share of 0.9% in 2020 in the Europe events industry and is expected to be the fastest-growing market during the forecast period, growing at a CAGR of 9.1% from 2021 to 2030.
A. By country, UK was the dominating segment in 2020 accounting for 27.9% of the market share and is expected to retain its dominant position throughout the forecast period.
A. The outbreak of the COVID-19 pandemic has adversely impacted the Europe events industry in 2020. The lockdown measures implemented by the government in an attempt to curb the spread of the virus led to cancellation of almost all the exhibitions, in-person meetings, trade shows, conventions, and seminars.
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