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U.s. Corporate Event Market

U.S. Corporate Event Market by Event Type (Conference/Seminar, Trade Shows/Exhibitions, Incentive Programs, Company Meetings, and Others), and Industry (Banking and Financial Sector, Information Technology, Real Estate and Infrastructure, Automotive, Insurance, and Others): Global Opportunity Analysis and Industry Forecast 2021–2030

A06293
Pages: 172
Sep 2021 | 5854 Views
   
Author(s) : Dinesh Thakur, Aniket Kadam , Roshan Deshmukh
Tables: 66
Charts: 41
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COVID-19

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The U.S. corporate event market size was valued at $95.3 billion in 2020, and is estimated to reach $510.9 billion by 2030, registering a CAGR of 17.3% from 2021 to 2030.

Corporate event refers to public gathering of at a predetermined time and place for incentive group events, marketing events, product launches, company general meetings, corporate retreats, or training programs, conference/seminar, and tradeshows/exhibition. The purpose for staging an event can be increase in business profitability, celebratory, and community causes. Corporate events help to build and strengthen relationship with existing and future clients and agencies. It serves as a way of conveying a message to inspire and motivate employees, stakeholders, and business associates. The key stakeholders within the corporate events market are corporate organizations, public & private organizations, and similar others.

U.S.-Corporate-Event-Market

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Technological progress plays an important role in the U.S. corporate event industry. Conference/seminar events have been transformed with the introduction of latest technology. Earlier, an overhead projector was all event planners requested, whereas wireless connectivity has become imperative for the growth and productivity of organizations in the U.S. Moreover, LCD projectors, video conferencing, and fast notebooks are the new standard requirements in the U.S. corporate event market.

Strong economic growth of the U.S. is one of the major factors that boosts the growth of the U.S. corporate event market. In addition, rapid development of the business travel sector in recent decades has positioned the U.S. to be the largest market across the world. The growth of the U.S. corporate event market is driven by liberalization to access trade license and government initiatives to encourage private investment & FDIs. Moreover, initiatives to develop the corporate event segment has fueled the frequency of business travels in the U.S., thereby supplementing the U.S. corporate event market growth. 

Ease of visa restrictions, investments in better infrastructure, and rise in number of travelers in commercial aviation from the U.S. are some of the other factors that fuel the growth of the U.S. corporate event market. Moreover, surge in penetration of internet & technology in densely populated states augments the growth of the U.S. corporate event market. Therefore, developments in the corporate event market majorly drive the economic growth and intellectual development. 

According to the U.S. corporate event market analysis, the market is segmented based on event type, industry, and states. On the basis of event type, it is segmented into conference/seminar, trade shows/exhibitions, incentive programs, company meetings, and others. Based on the industry, the market is segmented into banking and financial sector, information technology, real estate and infrastructure, automotive, insurance, and others. The U.S. corporate event market is analyzed across various states that includes Wisconsin, California, Texas, New York, Florida, Illinois, and rest of U.S.

The outbreak of COIVID-19 pandemic has resulted in the cancellations of various corporate events, such as investor presentations, international seminars, and trade shows. On the contrary, the hosts of these events are focusing on adoption of video conferencing systems to host these events, which is anticipated to positively impact the market growth. Furthermore, various governments and law enforcement agencies are focusing on carrying out events through these systems, owing to the lockdown imposed across countries. The year 2020 witness loss of 1 billion international tourist arrival and a loss of around $1.3 trillion in tourism exports across the globe. According to UNWTO, the global tourism industry suffered 11 time more loss due outbreak of COVID-19 in comparison of global economic crisis in 2008. The outbreak of the COVID-19 pandemic has posed a severe threat to the U.S. corporate event market and global MICE industry as well.

As per the U.S. corporate event market forecast, by event type, the company meetings segment is estimated to exhibit the highest CAGR of 18.9% in the U.S. corporate event market during the forecast period.

U.S. Corporate Event Market
By Event Type

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Conference/Seminar segment held the major share of 53.2% in 2020

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This is attributed to the development of the travel & tourism industry, surge in international business travels, and expansion of the information technology sector. Conference/seminar segment held the major share of 53.2% in the U.S corporate event market in 2020, and is expected to maintain its dominance throughout the forecast period. This is attributed to increase in meetings activities in several industries such as information technology, banking & finance sector, food & beverages, real estate & infrastructure, and automotive.

As per the U.S. corporate event market trends, by industry, the information technology segment held 33.3% of the U.S. corporate event market share in 2020, owing to the fact that many IT companies such as Apple, Oracle, Dell, Amazon, Facebook, IBM, Qualcomm, and Microsoft are headquartered in the U.S, which is the largest tech market across the globe, which contributes 32% of the total share in the technology market for 2020.

U.S. Corporate Event Market
By Industry

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Information Technology segment held the major share of 33.3% in 2020

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State wise, New York accounted for a significant market share in 2020. The priorities of attendees attending corporate event in New York is networking (82%), learning (71%), and entertainment (38%). 

Players operating in the U.S. corporate event market have adopted various developmental strategies to expand their market share, exploit the U.S. corporate event market opportunity, and increase profitability in the market. The key players profiled in this report include 360 Destination Group, Access Destination Services, BCD Travel Services B.V., BI Worldwide, CWT, Cievents, Creative Group, Inc., ITA Group, Maritz Holdings, Inc., and Reed Exhibitions Ltd.

U.S. Corporate Event Market
By state

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New York held the higest market share of 15.8% in 2020

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Key market benefits for stakeholders

  • The report provides an extensive analysis of the current & emerging trends and opportunities in the U.S. corporate event market.
  • It provides detailed qualitative and quantitative analyses of current trends and future estimations, which help understand the prevailing market opportunities.
  • A comprehensive analysis of factors that drive and restrict the growth of the U.S. corporate event market is highlighted in the study.
  • An extensive analysis of the U.S. corporate event market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential & niche segments as well as states exhibiting favorable growth.

Key Market Segments

  • By Type
    • CONFERENCE/SEMINAR
    • TRADE SHOWS/EXHIBITION
    • INCENTIVE PROGRAMS
    • COMPANY MEETINGS
    • OTHERS
  • BY INDUSTRY
    • Banking & financial sector
    • Information technology
    • Real estate & infrastructure
    • Automotive
    • Insurance
    • Others
  • BY STATE
    • Wisconsin
    • California
    • Texas
    • New York
    • Florida
    • Illinois
    • Rest of U.S.


Key Market Players

  • 360 DESTINATION GROUP
  • ACCESS DESTINATION SERVICES
  • BCD Travel Services B.V.
  • BI WORLDWIDE
  • CWT
  • CIEVENTS
  • CREATIVE GROUP, INC.
  • ITA GROUP
  • MARITZ HOLDINGS INC.
  • REED EXHIBITIONS LTD.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key market benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research

1.5.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Snapshot
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pocket

3.3.Porter's five forces analysis

3.3.1.Bargaining power of suppliers
3.3.2.Bargaining power of buyers
3.3.3.Thereat of new entrants
3.3.4.Threat of substitute
3.3.5.Intensity of competitive rivalry

3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Rapid development of the travel & tourism industry
3.4.1.2.Increase in globalization of businesses
3.4.1.3.Rapid increase in SMEs

3.4.2.Restraints

3.4.2.1.High operational cost associated with corporate events
3.4.2.2.Rise in geopolitical & social uncertainties

3.4.3.Opportunities

3.4.3.1.Technological advancements
3.4.3.2.Increase in infrastructural investment

3.5.Number of events, by type (2019–2020)
3.6.Number of attendees, by type, 2019–2020 (Million)
3.7.Number of corporations for each event type (2019-2020)
3.8.Number of days for each event type (2019-2020)
3.9.Impact of key regulation
3.10.Impact Of COVID-19 on the corporate events industry in the U.S

CHAPTER 4:U.S. CORPORATE EVENT MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Conference/seminar

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast
4.2.3.Market analysis by state

4.3.Trade shows/exhibition

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast
4.3.3.Market analysis by state

4.4.Incentive programs

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast
4.4.3.Market analysis by state

4.5.Company meetings

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast
4.5.3.Market analysis by state

4.6.Others

4.6.1.Key market trends, growth factors, and opportunities
4.6.2.Market size and forecast
4.6.3.Market analysis by state

CHAPTER 5:U.S. CORPORATE EVENT MARKET, BY INDUSTRY

5.1.Overview

5.1.1.Market size and forecast

5.2.Banking & financial sector

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast
5.2.3.Market analysis by state

5.3.Information technology

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast
5.3.3.Market analysis by state

5.4.Real estate & infrastructure

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast
5.4.3.Market analysis by state

5.5.Automotive

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast
5.5.3.Market analysis by state

5.6.Insurance

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast
5.6.3.Market analysis by state

5.7.Others

5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast
5.7.3.Market analysis by state

CHAPTER 6:U.S. CORPORATE EVENT MARKET, BY STATE

6.1.Overview

6.1.1.Market size and forecast

6.2.Wisconsin

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast by type
6.2.3.Market size and forecast by industries

6.3.California

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast by type
6.3.3.Market size and forecast by industries

6.4.Texas

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast by type
6.4.3.Market size and forecast by industries

6.5.New York

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast by type
6.5.3.Market size and forecast by industries

6.6.Florida

6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast by type
6.6.3.Market size and forecast by industries

6.7.Illinois

6.7.1.Key market trends, growth factors, and opportunities
6.7.2.Market size and forecast by type
6.7.3.Market size and forecast by industries

6.8.Rest of U.S.

6.8.1.Key market trends, growth factors, and opportunities
6.8.2.Market size and forecast by type
6.8.3.Market size and forecast by industries

CHAPTER 7:COMPETITION LANDSCAPE

7.1.Top player positioning
7.2.Top winning strategies
7.3.Product mapping
7.4.Competitive dashboard
7.5.Competitive heat map
7.6.Key developments

7.6.1.Acquisition
7.6.2.Business Expansion
7.6.3.Partnership
7.6.4.Product Launch

CHAPTER 8:COMPANY PROFILES

8.1.360 DESTINATION GROUP

8.1.1.Company overview
8.1.2.Key Executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.Key strategic moves and developments

8.2.ACCESS DESTINATION SERVICES

8.2.1.Company overview
8.2.2.Key Executives
8.2.3.Company snapshot
8.2.4.Product portfolio
8.2.5.Key strategic moves and developments

8.3.BCD TRAVEL SERVICES B.V

8.3.1.Company overview
8.3.2.Key Executives
8.3.3.Company snapshot
8.3.4.Product portfolio
8.3.5.Key strategic moves and developments

8.4.BI WORLDWIDE

8.4.1.Company overview
8.4.2.Key Executives
8.4.3.Company snapshot
8.4.4.Product portfolio

8.5.CWT

8.5.1.Company overview
8.5.2.Key Executives
8.5.3.Company snapshot
8.5.4.Operating business segments
8.5.5.Product portfolio
8.5.6.Key strategic moves and developments

8.6.CIEVENTS

8.6.1.Company overview
8.6.2.Key Executives
8.6.3.Company snapshot
8.6.4.Product portfolio
8.6.5.Business performance

8.7.CREATIVE GROUP, INC.

8.7.1.Company overview
8.7.2.Key Executives
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.Key strategic moves and developments

8.8.ITA GROUP

8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Product portfolio
8.8.5.Key strategic moves and developments

8.9.MARITZ HOLDINGS INC.

8.9.1.Company overview
8.9.2.Key Executives
8.9.3.Company snapshot
8.9.4.Product portfolio

8.10.REED EXHIBITIONS LTD

8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.Business performance
8.10.7.Key strategic moves and developments

LIST OF TABLES

TABLE 01.NUMBER OF CORPORATE EVENTS IN U.S., BY TYPE (2019–2020)
TABLE 02.NUMBER OF ATTENDEES IN U.S., BY TYPE (2019–2020) IN MILION
TABLE 03.NUMBER OF CORPORATIONS BY EACH EVENTS IN U.S (2019-2020)
TABLE 04.NUMBER OF DAYS FOR EACH EVENTS IN U.S (2019-2020)
TABLE 05.U.S. CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 06.U.S. CONFERENCE/SEMINAR MARKET, BY STATE, 2020–2030 ($BILLION)
TABLE 07.U.S. TRADE SHOWS/EXHIBITION MARKET, BY STATE, 2020–2030 ($BILLION)
TABLE 08.U.S. INCENTIVE PROGRAMS MARKET, BY STATE, 2020–2030 ($BILLION)
TABLE 09.U.S. COMPANY MEETINGS MARKET, BY STATE, 2020–2030 ($BILLION)
TABLE 10.U.S. OTHER EVENT MARKET, BY STATE, 2020–2030 ($BILLION)
TABLE 11.U.S. CORPORATE EVENT MARKET, BY INDUSTRY, 2020–2030 ($BILLION)
TABLE 12.U.S. CORPORATE EVENT MARKET FOR BANKING & FINANCE, BY STATE, 2020–2030 ($BILLION)
TABLE 13.U.S. CORPORATE EVENT MARKET FOR INFORMATION TECHNOLOGY, BY STATE, 2020–2030 ($BILLION)
TABLE 14.U.S. CORPORATE EVENT MARKET FOR REAL ESTATE & INFRASTRUCTURE, BY STATE, 2020–2030 ($BILLION)
TABLE 15.U.S. CORPORATE EVENT MARKET FOR AUTOMOTIVE, BY STATE, 2020–2030 ($BILLION)
TABLE 16.U.S. CORPORATE EVENT MARKET FOR INSURANCE, BY STATE, 2020–2030 ($BILLION)
TABLE 17.U.S. CORPORATE EVENT MARKET FOR OTHER INDUSTRY, BY STATE, 2020–2030 ($BILLION)
TABLE 18.U.S. CORPORATE EVENT MARKET BY STATE, 2020–2030 ($BILLION)
TABLE 19.WISCONSIN CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 20.WISCONSIN CORPORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 21.CALIFORNIA CORORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 22.CALIFORNIA CORORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 23.TEXAS CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 24.TEXAS COPORTE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 25.NEW YORK CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 26.NEW YORK CORPORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 27.FLORIDA CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 28.FLORIDA CORPORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 29.ILLINOIS CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 30.ILLINOIS CORPORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 31.REST OF U.S. CORPORATE EVENT MARKET, BY TYPE, 2020–2030 ($BILLION)
TABLE 32.REST OF U.S. CORPORATE EVENT MARKET, BY INDUSTRIES, 2020–2030 ($BILLION)
TABLE 33.360 DESTINATION GROUP: KEY EXECUTIVES
TABLE 34.360 DESTINATION GROUP: COMPANY SNAPSHOT
TABLE 35.360 DESTINATION GROUP: PRODUCT PORTFOLIO
TABLE 36.ACCESS DESTINATION SERVICES: KEY EXECUTIVES
TABLE 37.ACCESS DESTINATION SERVICES: COMPANY SNAPSHOT
TABLE 38.ACCESS DESTINATION SERVICES: PRODUCT PORTFOLIO
TABLE 39.BCD TRAVEL SERVICES B.V.: KEY EXECUTIVES
TABLE 40.BCD TRAVEL SERVICES B.V.: COMPANY SNAPSHOT
TABLE 41.BCD TRAVEL SERVICES B.V.: PRODUCT PORTFOLIO
TABLE 42.BI WORLDWIDE: KEY EXECUTIVES
TABLE 43.BI WORLDWIDE: COMPANY SNAPSHOT
TABLE 44.BI WORLDWIDE: PRODUCT PORTFOLIO
TABLE 45.CWT: KEY EXECUTIVES
TABLE 46.CWT: COMPANY SNAPSHOT
TABLE 47.CWT: OPERATING SEGMENTS
TABLE 48.CWT: PRODUCT PORTFOLIO
TABLE 49.CIEVENTS: KEY EXECUTIVES
TABLE 50.CIEVENTS: COMPANY SNAPSHOT
TABLE 51.CIEVENTS: PRODUCT PORTFOLIO
TABLE 52.CIEVENTS: NET SALES, 2017–2019 ($MILLION)
TABLE 53.CREATIVE GROUP, INC.: KEY EXECUTIVES
TABLE 54.CREATIVE GROUP, INC.: COMPANY SNAPSHOT
TABLE 55.CREATIVE GROUP, INC.: PRODUCT PORTFOLIO
TABLE 56.ITA GROUP: KEY EXECUTIVES
TABLE 57.ITA GROUP: COMPANY SNAPSHOT
TABLE 58.ITA GROUP: PRODUCT PORTFOLIO
TABLE 59.MARITZ HOLDINGS, INC.: KEY EXECUTIVES
TABLE 60.MARITZ HOLDINGS, INC.: COMPANY SNAPSHOT
TABLE 61.MARITZ HOLDINGS, INC.: PRODUCT PORTFOLIO
TABLE 62.REED EXHIBITIONS LTD: KEY EXECUTIVES
TABLE 63.REED EXHIBITIONS LTD: COMPANY SNAPSHOT
TABLE 64.REED EXHIBITIONS LTD: OPERATING SEGMENTS
TABLE 65.REED EXHIBITIONS LTD: PRODUCT PORTFOLIO
TABLE 66.REED EXHIBITIONS LTD: NET SALES, 2018–2020 ($MILLION)

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.U.S. CORPORATE EVENT MARKET SNAPSHOT
FIGURE 03.TOP INVESTMENT POCKETS, BY TYPE
FIGURE 04.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.HIGH BARGAINING POWER OF BUYERS
FIGURE 06.MODERATE THREAT OF NEW ENTRANTS
FIGURE 07.MODERATE THREAT OF SUBSTITUTION
FIGURE 08.HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 09.U.S. CORPORATE EVENT MARKET SHARE, BY TYPE, 2020 (%)
FIGURE 10.COMPARATIVE SHARE ANALYSIS OF U.S. CONFERENCE/SEMINAR MARRKET, BY STATE, 2020 & 2030 (%)
FIGURE 11.COMPARATIVE SHARE ANALYSIS OF U.S. TRADE SHOWS/EXHIBITION MARKET, BY STATE, 2020 & 2030 (%)
FIGURE 12.COMPARATIVE SHARE ANALYSIS OF U.S. INCENTIVE PROGRAMS MARKET, BY STATE, 2020 & 2030 (%)
FIGURE 13.COMPARATIVE SHARE ANALYSIS OF U.S. COMPANY MEETINGS MARKET, BY STATE, 2020 & 2030 (%)
FIGURE 14.COMPARATIVE SHARE ANALYSIS OF U.S. OTHER EVENT MARKET, BY STATE, 2020 & 2030 (%)
FIGURE 15.U.S. CORPORATE EVENT MARKET SHARE, BY INDUSTRY, 2020(%)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF U.S. CORPORATE EVENT MARKET FOR BANKING & FINANCIAL SECTOR,  BY STATE, 2020 & 2030 (%)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF U.S. CORPORATE EVENT MARKET FOR INFORMATION TECHNOLOGY,  BY STATE, 2020 & 2030 (%)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OF U.S. CORPORATE EVENT MARKET FOR REAL ESTATE & INFRASTRUCTURE,  BY STATE,2020 & 2030 (%)
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF U.S. COMPANY EVENT MARKET FOR AUTOMOTIVE, BY STATE,  2020 & 2030 (%)
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF U.S. CORPORATE EVENT MARKET FOR INSURANCE, BY STATE,  2020 & 2030 (%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF U.S. CORPORATE EVENT MARKET FOR OTHER INDUSTRIES, BY STATE,  2020 & 2030 (%)
FIGURE 22.U.S. CORPORATE EVENT MARKET SHARE, BY STATES, 2020(%)
FIGURE 23.WISCONSIN CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 24.CALIFORNIA CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 25.TEXAS CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 26.NEW YORK CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 27.FLORIDA CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 28.ILLINOIS CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 29.REST OF US CORPORATE EVENT MARKET REVENUE, 2020–2030 ($BILLION)
FIGURE 30.TOP PLAYER POSITIONING
FIGURE 31.TOP WINNING STRATEGIES, BY YEAR, 2018–2020*
FIGURE 32.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018–2020* (%)
FIGURE 33.TOP WINNING STRATEGIES, BY COMPANY, 2018–2020*
FIGURE 34.PRODUCT MAPPING OF TOP 10 KEY PLAYERS
FIGURE 35.COMPETITIVE DASHBOARD OF TOP 10 KEY PLAYERS
FIGURE 36.COMPETITIVE HEATMAP OF TOP 10 KEY PLAYERS
FIGURE 37.CIEVENTS: NET SALES, 2017–2019 ($MILLION)
FIGURE 38.CIEVENTS: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 39.REED EXHIBITIONS LTD: NET SALES, 2018–2020 ($MILLION)
FIGURE 40.REED EXHIBITIONS LTD: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 41.REED EXHIBITIONS LTD: REVENUE SHARE BY REGION, 2020 (%)

 
 

According to the top-level CXOs of the leading companies, strong economic growth of the U.S. is one of the major factors that boosts the growth of the corporate event market in this country. In addition, rapid development of the business travel sector in recent decades has positioned the U.S. to be the largest market across the world.

Corporate events in the U.S. states are gaining popularity, which give rise to inbound travels, domestic trips, and outbound departures. Industries and direct marketing firms prefer to approach international event organizers rather than local organizers for corporate events hosting large number of participants. Conversely, other segments such as automotive, pharmaceuticals, IT, financials, and food & beverage sectors prefer domestic corporate event destinations for brand promotions.

The CXOs further added that the growth of the corporate event industry in the U.S. is driven by liberalization to access trade license and government initiatives to encourage private investment & FDIs. Moreover, initiatives to develop the corporate event segment has fueled the frequency of business travels in the U.S., thereby supplementing the market growth.

Ease of visa restrictions, investments in better infrastructure, and rise in number of travelers in commercial aviation from the U.S. are some of the other factors that fuel the growth of the U.S. corporate event market. Moreover, surge in penetration of internet & technology in densely populated states augments the growth of the market. Therefore, developments in the corporate event market majorly drive the economic growth and intellectual development.

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FREQUENTLY ASKED QUESTIONS?
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A. The U.S. corporate event market size was valued at $95.3 billion in 2020, and is estimated to reach $510.9 billion by 2030, registering a CAGR of 17.3% from 2021 to 2030. Strong economic growth of the U.S. is one of the major factors that boosts the growth of the U.S. corporate event market.

A. The U.S. corporate event market is estimated to reach $510.9 billion by 2030, registering a CAGR of 17.3% from 2021 to 2030. Rapid development of the business travel sector in recent decades has positioned the U.S. to be the largest market across the world. The growth of the U.S. corporate event market is driven by liberalization to access trade license and government initiatives to encourage private investment & FDIs.

A. https://www.alliedmarketresearch.com/request-sample/6658

A. According to the U.S. corporate event market analysis, the market is segmented based on event type, industry, and states. On the basis of event type, it is segmented into conference/seminar, trade shows/exhibitions, incentive programs, company meetings, and others. Based on the industry, the market is segmented into banking and financial sector, information technology, real estate and infrastructure, automotive, insurance, and others. The U.S. corporate event market is analyzed across various states that includes Wisconsin, California, Texas, New York, Florida, Illinois, and rest of U.S.

A. The base year calculated in the report is 2020. The year 2020 was an exceptional year characterized by the outbreak of the COVID-19 disease across the globe. U.S. was among the worst-hit countries. The government imposed strict lockdown regulations and ban on travel that adversely and significantly led to the huge loss in the U.S. corporate event market.

A. Players operating in the U.S. corporate event market have adopted various developmental strategies to expand their market share, exploit the U.S. corporate event market opportunity, and increase profitability in the market. The key players profiled in this report include 360 Destination Group, Access Destination Services, BCD Travel Services B.V., BI Worldwide, CWT, Cievents, Creative Group, Inc., ITA Group, Maritz Holdings, Inc., and Reed Exhibitions Ltd.

A. As per the U.S. corporate event market forecast, by event type, the company meetings segment is estimated to exhibit the highest CAGR of 18.9% in the U.S. corporate event market during the forecast period. This is attributed to the development of the travel & tourism industry, surge in international business travels, and expansion of the information technology sector.

A. The U.S. corporate event market is likely to recover faster due to the increase in government initiatives to boost the vaccination drive in the country. Moreover, government efforts coupled with rise in awareness among the U.S. population regarding vaccination and COVID-19 appropriate behavior is likely to boost the recovery of the U.S. corporate event market in the forthcoming years.

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