U.S. Event Services Market Expected to Reach $153,096.5 Million by 2032 at 7.0% CAGR: Allied Market Research
The development of event strategy will heavily rely on data analytics. Data insights will be used by event planners to enhance their understanding of attendee behavior, preferences, and feedback. This will help them plan events more effectively and increase their marketing efforts.
Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “U.S. Event Services Market by Event Type (Corporate Events and Private & Personal Events) and Service Type (Strategy, Planning, Budget, & Development, Communication & Logistics, Location Rental, Event Catering, Attendees Management & Engagement, Event Entertainer, and Others): Opportunity Analysis and Industry Forecast, 2023–2032“. According to the report, the U.S. event services market size was valued at $70,300.0 million in 2022, and is projected to reach $153,096.5 million by 2032, registering a CAGR of 7.0% from 2023 to 2032.
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Prime determinants of growth
The rising popularity of streaming services is driving the growth of the U.S. event services market. However, the growth of the event services market in the U.S. is restricted by the unavailability of artists and celebrities. On the other hand, destination events and tourism present remunerative opportunities for the expansion of the event services market in the U.S. during the forecast period.
Report coverage & details:
|Market Size in 2022||$70,300.0 million|
|Market Size in 2032||$153,096.5 million|
|No. of Pages in Report||250|
|Segments Covered||Event Type and Service Type|
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The corporate events segment to maintain its leadership status throughout the forecast period
By event type, the corporate events segment held the highest market share in 2022, accounting for more than three-fourths of the U.S. event services market revenue and is estimated to maintain its leadership status throughout the forecast period. Conferences/ seminars perform an important role in professional development, industry networking, and knowledge sharing. The private & personal events segment, however, showcases the fastest CAGR of 7.7% during the forecast period. The rise in popularity of experiential events to create immersive and engaging experiences is driving the demand for this segment.
The location rental segment to maintain its leadership status throughout the forecast period
By service type, the location rental segment held the highest market share in 2022, accounting for nearly one-fourth of the U.S. event services market share and is estimated to maintain its leadership status throughout the forecast period. The easy availability of location rental service providers significantly boosts the demand for location rental services. The attendees management and engagement segment, however, showcases the fastest CAGR of 8.8% during the forecast period. Attendee management helps the host to determine the success and effectiveness of the events.
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Leading Market Players: –
- Party City Corporation
- Live Nation Entertainment, Inc.
- All Occasion Event Planning
- Dream Party Productions
- 360 Destination Group
- Cvent Holding Corp.
- Anschutz Entertainment Group, Inc.
- ATPI Ltd.
- Eventbrite, Inc.
The report provides a detailed analysis of these key players in the U.S. event services market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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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