The UK events market size 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.
Events refer to the public gathering of the populace at a determined time and place for a purpose. The purpose of staging an event is to increase business profitability, celebratory, entertainment, and community causes. The most popular events include conferences & exhibitions, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, and product launches. The key stakeholders within the UK events industry are corporate organizations, public organizations & NGOs, and similar others.
Events will continue to use new technology. The attendee experience will be improved, and new chances for interaction and networking will be presented via interactive platforms, virtual and augmented reality, live streaming, event applications, and these other technologies.
The UK events industry growth is majorly driven by an upsurge in the frequency of corporate meetings, inductions, conferences, exhibitions, music concerts, and sports events. Furthermore, the deployment of best-in-class technology that handles the entire event propels industry growth. Moreover, customarily held multi-dimensional events act as a key driver of the UK events industry. Nevertheless, 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 market entry costs and UK events industry fragmentation are some of the major restraints of the industry.
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.
UK Events Market by Type, 2018-2032, ($Billion)
The corporate events and seminars segment, as per type, dominated the UK events industry in 2021 and is anticipated to maintain its dominance throughout the UK events industry forecast period. In the UK, corporate events and seminars have long played a significant role in the commercial environment by offering chances for information exchange, professional growth, and networking. While the COVID-19 epidemic had a huge impact on the UK events industry and forced many events to be postponed or transferred to virtual platforms, it is anticipated that corporate events and seminars will gradually resume in-person as restrictions ease up.
Revenue from ticket sales in the UK is supported by a diverse range of activities, including music concerts, festivals, sporting events, exhibitions, conferences, and corporate seminars.
The sponsorship segment dominates the UK events industry. In the UK, sponsorship is an important part of the events industry, offering resources and chances for brands to become more visible, connect with their target market, and establish lasting relationships with events. In the UK, companies frequently look for sponsorship possibilities that fit with the target market and positioning of their companies. This guarantees that the event's attendance falls within the target demographic, enabling efficient marketing and engagement.
UK Events Market by Organizer, 2018-2032, ($Billion)
The entertainment segment exhibits the fastest growth in the UK events industry. The entertainment sector, which includes a wide variety of performances, shows, and experiences that entertain and engage audiences, is an essential part of the UK events industry. The availability of virtual events, live-streaming performances, and internet platforms has increased the range of entertainment options available to consumers. Particularly during the COVID-19 epidemic, virtual concerts, digital exhibitions, and online gaming events have grown in popularity.
By Age Group
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.
The age group wise, 21-40 years dominated the market with the largest share during the forecast period. The 21–40 age group, which makes up an important percentage of the population, has a wide range of interests and preferences that are catered to by the UK events industry. Wellness and fitness activities have gained popularity among those in the 21–40 age range as the importance of health and well-being has increased. Yoga retreats, wellness celebrations, fitness expos, and themed races all provide opportunities for holistic experiences, physical activity, and mental well-being. A wide variety of competitors and viewers in the age range of 21 to 40 are drawn to sporting events, both professional and amateur. The UK offers a wide variety of sporting activities that cater to varied interests and levels of participation, from football games and rugby matches to marathons and extreme sports tournaments.
Technology development has a significant impact on the events industry. The use of technology has significantly improved event planning, attendee involvement, and overall event experiences. Examples include online ticketing systems, event management software, smartphone apps, virtual reality, and live streaming capabilities. The expectations of attendees have changed, and they are looking for engaging, individualized, and distinctive event experiences. Event planners must comprehend their target demographic in order to customize their events and fulfill their evolving needs while providing memorable and captivating experiences.
In the events industry, environmental sustainability is becoming more and more significant. Participants and stakeholders are aware of how events affect the environment; therefore, UK events industry demand that planners embrace eco-friendly methods, cut waste, encourage recycling, and use sustainable event management techniques. The COVID-19 epidemic hastened the acceptance of virtual and hybrid events. Even if physical events restart, the use of virtual components enables a bigger audience, improved accessibility, and adaptability in event formats. Events that are virtual or hybrid offer prospects for cost reductions and increased audience involvement.
Through the development of jobs, money, and tourism, the events sector greatly boosts the UK economy. Events draw tourists from both domestic and foreign markets, supporting the local economy's hospitality and tourism sectors. The events sector is significantly impacted by government financing, assistance, and favorable policies. The UK events industry is more competitive as a whole because of favorable legislation, improved infrastructure, and financial incentives that draw events, drive expansion, and enhance profitability.
The regulatory environment and compliance requirements for event planners in the UK are complicated. Event planners must consider and abide by several rules and regulations, which complicates and increases the expense of event planning. These include laws governing licensing, data protection, accessibility standards, and employment. Budget restrictions restrict the resources available for event preparation and implementation. Obtaining adequate funds for venue rents, production, marketing, talent hiring, and other crucial event components proves difficult for organizers. The general level of excellence, breadth, and scale of events impacted by financial constraints.
The events industry is intrinsically vulnerable to risks and uncertainties like weather variations, economic volatility, political unpredictability, and unexpected emergencies. To minimize possible problems and monetary losses, event planners must incorporate risk management techniques, backup plans, and insurance. Due to increased demand, a lack of acceptable venues, and growing expenses, finding appropriate places for events, particularly in well-known areas, are difficult. This is especially important for events of this size and those hosted in big cities where venue competition is fierce. The total event budget is greatly impacted by venue expenditures.
The use of VR and AR technologies in events creates new opportunities for immersive experiences, digital venue tours, interactive demos, and improved presentations. Attendees benefit from these technologies by having enjoyable and lasting experiences. With both local and foreign visitors, the UK is a well-liked event and tourist destination. Using distinctive locations, cultural attractions, historic sites, and scenic backdrops to your advantage helps promote events as destination experiences, boosting tourism and lengthening attendee stays.
A wider audience is attracted by organizing inclusive events that highlight diversity and serve a variety of origins, ethnicities, and abilities. The success and reputation of events are enhanced by embracing diversity through accessibility features, diversified programming, and diverse representation. Investigating niche markets and growing event industries opens new prospects. Events like esports competitions, wellness retreats, conferences on sustainability, pop-up marketplaces, food and drink experiences, and technology displays are a few examples.
The major players analyzed for the UK events industry are 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. Key players operating in the UK events industry have adopted product launch and business expansion as key strategies to expand their UK events industry share, increase profitability, and remain competitive in the market.
The security and safety of participants is a primary concern for event planners. Event professionals must incorporate strong safety measures due to the changing threat scenario, such as crowd control, emergency response preparation, and adherence to health and safety laws. The success of events is greatly influenced by collaborations and partnerships between event planners, venues, suppliers, sponsors, and stakeholders. Creating solid partnerships and alliances improves event offerings, increases reach, and gets access to more resources.
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.
UK Events Industry by Type Report Highlights
By Revenue Source
By Age Group
The perspectives of the leading CXOs in the UK events industry are presented in this section. Hybrid events have grown in popularity since they incorporate both live and virtual components. This enables the event's planners to reach a larger audience and cater to attendees who might be unable or reluctant to attend in person. Events that are hybrid offer the chance for greater involvement, networking, and monetization alternatives. Event planners are now placing a high priority on health and safety procedures. To protect attendees, precautions have been put in place such as temperature checks, mask requirements, social isolation, improved cleaning, and sanitization. Even when constraints loosen, these actions are likely to persist.
According to CXOs, within the events sector, sustainability has received more attention. Environmentally friendly methods are being incorporated by the organizers, including waste reduction, the use of renewable energy sources, recycling promotion, and the use of sustainable mobility choices. Additionally, attendees are becoming more aware of how events affect the environment. The uncertainty brought on by the epidemic has led to event planners adopting more accommodating booking and cancellation policies. As a result, participants and sponsors plan with more assurance knowing they change or cancel their participation as needed.