Global Corporate Entertainment Market 2017-2021
About Corporate Entertainment
Corporate entertainment refers to recreational events held for the employees of an organization. These events mainly include conferences, conventions, holiday parties, private concerts, and retreats. Corporate entertainment events held by organizations and enterprises play a crucial role in team building. These events are organized to motivate the employees, which positively affect their efficiency and productivity. Corporate events are also used for marketing and promotions, and to increase the visibility of organizations.
Technavio’s analysts forecast the global corporate entertainment market to grow at a CAGR of 7.06% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global corporate entertainment market for 2017-2021. To calculate the market size, the report considers the total amount of money spent by organizations on corporate entertainment.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Corporate Entertainment Market 2017-2021
Technavio recognizes the following companies as the key players in the global corporate entertainment market: Cvent, DNA Entertainment Networks, Eventive Marketing, Quintessentially Events, and WPP.
Other Prominent Vendors in the market are: Bassett Events, BERKELEY CITY CLUB, Eventbrite, XING, and Wizcraft.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing popularity of crowd-streaming. Crowd streaming is one of the upcoming trends in the corporate entertainment events. Facebook Live is a prominent tool used by event managers. This feature launched by Facebook helps organizations increase visibility through live uploads of corporate events. The users can broadcast up to 90 minutes of live shows on Facebook. The active users can access videos through streaming after the live broadcast. In addition, crowd-streaming helps broadcasters adjust the privacy and view settings. Facebook offers preference to streaming of live videos over other content, which leads to an increase in the number of views and helps organizers target a large audience.”
According to the report, one of the major drivers for this market is Growing popularity of interactive videos. Interactive videos aid professional development. Skill enhancement programs featured through these videos facilitate distance learning. During corporate conferences and conventions, the organizers share content through interactive videos, which can be accessed by employees anywhere in the world. The content includes skill enhancement programs and study materials. In addition, these videos help employees understand the future growth plans of the company. Interactive videos are in high demand because of the flexibility offered to the consumers. Some of the popular platforms that provide interactive learning options are Coursera and edX. The demand for interactive videos is high in the corporate entertainment market as the combination is being used for the company promotion and marketing purposes.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating consumer demands. Several companies that employ event management agencies lack demand forecasting tools. Understanding the consumer behavior is crucial for enterprises. The organizations should have knowledge about of the interests and preferences of their employees. For instance, companies can create portals wherein the employees can provide feedback and suggestions.
Cvent, DNA Entertainment Networks, Eventive Marketing, Quintessentially Events, WPP, Bassett Events, BERKELEY CITY CLUB, Eventbrite, XING, and Wizcraft.
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