Portland, OR, May 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe events market generated $31.4 billion in 2020, and is estimated to generate $123.9 billion by 2030, witnessing a CAGR of 8.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Increase in corporate activities such as brand promotions, conferences/seminars, and employee training activities, rapid progress of the tourism and hospitality sectors, and the growth of IT hubs in Europe drives the Europe events market. Furthermore, Europe's established infrastructure and growing acceptance of innovative technology have propelled the industry's expansion. Additionally, customarily held multi-dimensional events are a major driver of the Europe events market's expansion.
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Covid-19 Scenario:
- The outbreak of the Covid-19 pandemic had a negative impact on the Europe events market, particularly in 2020. Lockdown measures imposed by various governments to limit the spread of the virus resulted in the cancellation of nearly all exhibitions, trade displays, in-person gatherings, conventions, and seminars.
- Europe is one of the most popular corporate event destinations in the world. A sharp decline in the arrivals of international tourists during the pandemic in Europe contributed to the decline of the European events business.
The report offers detailed segmentation of the Europe events market based on services, type, SMEs, and country.
Based on service, the location rental segment accounted for the largest share in 2020, holding nearly one-third of the total share, and is projected to continue its leadership status during the forecast period. However, the virtual or hybrid event enabler segment is estimated to manifest the highest CAGR of 10.9% from 2021 to 2030.
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Based on type, the meeting and conference segment held the largest market share, contributing to nearly one-third of the Europe events market in 2020, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the incentive segment is estimated to portray the fastest CAGR of 10.0% from 2021 to 2030.
Based on SMEs, the small and medium enterprises segment contributed the highest share in 2020, accounting for nearly three-fourths of the total market, and is estimated to continue its lead position by 2030. Moreover, the same segment is expected to grow at the largest CAGR of 9.0% during the forecast period.
Leading players of the Europe events market analyzed in the research include Dorier group, Compass Group, Elior group, Event Security Management Ltd., Europa International, Intelligent (UK Holdings) Limited, Martin Audio Ltd, London Filmed, Titan Security Europe, and The creative engagement group.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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