Sports have become more commercialized, generating more promotion and sponsorship. Businesses that participate in sponsorship programs gain recognition for their brands and expand their footprints. On the other hand, sponsoring firms get both concrete and intangible advantages, such as increased brand exposure and presenting a favorable picture of the company to stakeholders of events industry market.
Key Findings of Study
Events market analysis by event type, the events industry market is segmented into virtual, hybrid, and physical. Events market analysis by application, the market is segmented into B2B and B2C. Events industry market analysis by enterprise size, the market is segmented into small and medium enterprises and large enterprises. Small and medium enterprises are the fastest-growing segment due to SMEs needing continuous support from the respective country governments to achieve their full potential. At the same time, they need to work on their internal processes, structures, and practices to achieve anticipated events industry market growth. Based on revenue sources, the market is segmented into ticket sale, sponsorship, and others. Based on organizer, the market is segmented into corporate, sports, education, entertainment, and others. Based on type, the market is segmented into music concert, festivals, sports, exhibitions and conferences, corporate events and seminars, and others.
The global events industry market analysis by region has been segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America is expected to surface as the fastest-growing regional market among these. With the quick uptake of cutting-edge technologies, conference/seminar events have been transformed in this region. Earlier, all event planners needed was an overhead projector. However, wireless Internet has become critical for this region's growth and productivity. LCD projectors, video conferencing, and quick laptops are also becoming new standard needs in the North America events market. The fast growth of the corporate travel sector over the last few years has established North America as the world's largest events industry market.