Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "United States Conference, Concert and Event Market Report, Forecast by Type, Revenue Source, Organizers, Age Group, and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States Conference, Concert and Event Market will reach US$ 638.45 billion by 2032, up from US$ 408.77 billion in 2023, with a CAGR of 5.08% between 2024 and 2032
The conference, concert, and event market in the United States is growing due to rising consumer spending, technology improvements, and the growing popularity of in-person interactions. The trend toward hybrid events, the focus on sustainability, and the increased need for in-person encounters all contribute to the growth and creativity of this fast-paced industry. 
United States Conference, Concert and Event Industry Outlook
The US conference, concert, and event industry is currently experiencing revolutionary changes and unheard-of advancements. Events serve as venues for bringing people together for a variety of purposes, such as community involvement, corporate development, celebration, and entertainment. Pent-up demand and a need for in-person connections are driving the industry's revival of in-person events. In order to increase participation and reach a wider audience, conferences and conventions are utilizing hybrid models that integrate both virtual and physical components. As organizations adjust to changing guest preferences and logistical issues, this trend is anticipated to continue.
Live music events are experiencing a significant resurgence in the concert industry, with crowds ready to return to venues. Modern technologies like virtual reality and improved live streaming are being incorporated to create new revenue streams and improve the concert experience.
Furthermore, organizers of events are paying more attention to diversity, sustainability, and environmental issues. They are also making sure that a range of voices are included. Data analytics is being adopted by the industry to enhance event planning and customize experiences.
Driving Forces of United States Conference, Concert and Event Market
Increased Demand for Live Experiences
The U.S. conference, concert, and event market is experiencing substantial expansion due to an increase in demand for live events. Situated in Manchester, Tennessee, Bonnaroo is a prominent music festival featuring a varied lineup encompassing all genres, along with art installations and additional acts. Furthermore, taking place in Indio, California, Coachella is one of the world's most well-known music events. Prominent artists spanning multiple genres such as pop, hip-hop, rock, and electronic music are scheduled to perform.
Following protracted periods of social separation and online communication brought on by the COVID-19 epidemic, people's yearning for face-to-face contact has increased. Live events are experiencing a comeback because to this desire for in-person interactions.
Audiences are willing to return to places for concerts and entertainment because of the special ambiance and group spirit that live performances provide. The opportunity to interact with artists and other fans, as well as the shared experience of live music, create a compelling appeal. In a similar vein, conferences and conventions profit from this trend as professionals look for opportunities for face-to-face networking, experiential learning, and direct interaction with peers and advancements in the field. For instance, in 2022, around 28 million tickets for music events were transacted on Eventbrite, a global self-service ticketing platform for live events. Furthermore, one of the biggest trade shows, Incentive Travel, Meetings, and Events (IMEX), is held in the United States every year, drawing participation from over 3,000 businesses.
Increased consumer spending
One of the main factors fueling the U.S. conference, concert, and event market's growth is rising consumer spending. Higher disposable incomes and restored consumer confidence are driving up spending on live events as the economy bounces back from the pandemic. Following extended periods of solitude, people have a great need for amusement and social connection, which makes them willing to spend money on events like concerts, conferences, and festivals.
This tendency is especially helpful to concerts and live shows since people are willing to spend money on immersive, high-quality experiences that provide a change of pace from daily life. More people are attending music events more frequently and purchasing tickets at a higher rate as a result of their increased willingness to spend on entertainment.
In a similar vein, conferences and business gatherings are experiencing a comeback as businesses and professionals place a premium on in-person networking, education, and teamwork. Companies are spending more money at these events in order to network, present their technologies, and obtain an advantage over competitors.
New York Conference, Concert and Event Market
The global renown of New York City as a center of commerce and culture has created a thriving and powerful conference, concert, and event market. Many different types of events are supported by the city's vast infrastructure. Large-scale conferences, congresses, and concerts are held at prestigious locations like Madison Square Garden and the Jacob K. Javits Convention Center, drawing crowds from both domestic and foreign locations. Numerous music venues in New York City, such as Carnegie Hall and the Barclays Center, showcase a wide range of acts and genres, reflecting the city's lively cultural landscape.
Furthermore, the city's event calendar is jam-packed with well-known occasions, like as Broadway productions, significant music festivals like Governors Ball, and culinary and fashion displays. Following the pandemic, there has been a boom in consumer spending and high attendance at in-person events as individuals look for immersive and communal experiences.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $408.77 Billion |
| Forecasted Market Value (USD) by 2032 | $638.45 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | United States |
Key Players Analysis:
- Mixhalo Inc.
- Live Nation Worldwide, Inc.
- Ticket City, Inc.
- Bizzabo
- Eventbrite
- InEvent, Inc.
- Maritz Holdings Inc.
- Creative Group, Inc.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. United States Conference, Concert and Event Market
6. Market Share Analysis
6.1 By Type
6.2 By Revenue Source
6.3 By Organizers
6.4 By Age Group
7. Type
7.1 Music Concert
7.2 Festivals
7.3 Sports
7.4 Exhibition & Conferences
7.5 Webinars
7.6 Hybrid Events
7.7 Others
8. Revenue Source
8.1 Ticket Sale
8.2 Sponsorship
8.3 Others
9. Organizers
9.1 Corporate
9.2 Sports
9.3 Education
9.4 Entertainment
9.5 Others
10. Age Group
10.1 Below 20 Years
10.2 21-40 Years
10.3 Above 41 Years
11. Porter's Five Forces Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/v3agnc
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