United States Conferences, Concert and Event Market, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis
United States Conferences, Concert and Event Market is expected to reach US$ 399.88 Billion by 2027. The United States is appreciated for its National pride, buoyant spirit, and every region has its traditions. However, events are universally adored in the United States. Events, Conferences, Concert refer to the public gathering of a multitude of art at a determined time and place. The purpose of staging an event can increase business profitability, entertainment, celebratory, and community causes. The most ordinary events in the United States are Sundance Film Festival, Super Bowl Sunday, Mardi Gras, Masters Golf Tournament, Coachella, and The Boston Marathon.
Notwithstanding, an upsurge majorly drives the growth of the United States events industry in the frequency of corporate meetings, inductions, conferences, exhibitions, music concerts, and sports events. Furthermore, the deployment of best-in-class technology that can handle the entire event propels the industry's growth. Moreover, customarily held multidimensional events are key drivers of the United States events market.
Corporate Events & Seminars account for the Maximum Events Share
On the basis of type, the United States events industry includes Music concerts, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminars, and others. Corporate Events & Seminars hold the largest market share, owing to the rise in the number of corporate companies coupled with frequent seminars and events conducted by them. In addition, seminars and events involve interaction between speaker and audience, increasing the number of attendees.
Nowadays, due to the outbreak of coronavirus pandemic, there is a rise of online corporate seminars and online events to determine the spread of deadly infections. For instance, COVID-19 restrictions have forced corporate companies to rely on technology to connect with the people to conduct seminars and corporate events. To accomplish this, Zoom, a communications platform, has become immensely popular and is estimated to propel the demand for corporate events & seminar during the analysis period.
Further, based on age group, the 21–40 age groups are more involved and participate in various events like sports events, music concerts, exhibitions, festivals, etc. Music concerts attract most of the 21–40 age group population, especially the youth and middle-aged individual’s preference for rap and hip-hop music concerts. As per our research findings, United States Conferences, Concert and Event Industry is likely to grow with a CAGR of 7.76% from 2021-2027.
United States Conferences, Concert and Event Market Size was US$ 255.31 Billion in 2021
By Organizers, United States events industry categorized into Corporate, Sports, Education, Entertainment and Others. Entertainment events play a vital role in rejuvenating moods, reducing stress, helping to discover new music, and providing unique experiences. Currently, due to the pandemic, many entertainment companies are shifting towards the virtual way of organizing events to entertain United States people by Netflix, Amazon Prime, and others.
Furthermore, the corporate segment accounted for the largest organizer market in the United States events industry. Sports events have become more commercialized in recent years. Thus, sports serve as a significant marketing advertisement opportunity for event organizer companies, which sponsor these events. In addition, sponsorships from different brands such as Redbull, Nike, Monster Energy, Cocoa Cola for major global three-day festival, and small gig or act in a social club or arena boost the growth of the events industry in the United States.
By revenue source, United States events, conferences, concert industry classified into ticket, sponsorship, and others. With sponsorships, many foremost organizations increase their brand visibility by engaging customers to make a powerful command and also reach out to potential customers to boost sales. Moreover, sponsoring an event increases reach among potential buyers and customers, which drives sales.
COVID-19 Impact on United States Conferences, Concert and Event Sector:
With several other industries, the United States event industry has also had a negative impact due to the rise of the Covid-19 pandemic. The stringent lockdowns, travel restrictions, restrictions on social gatherings, and obeying the Covid-19 protocol have significantly decreased the feasibility of physically organizing events. In 2020 due to travel restrictions, many prominent sporting events, festivals, exhibitions, and concerts were canceled or reduced to a small size to stop the spread of the virus. Harry Styles’s Love on Tour, Taylor Swift’s Lover Fest, and all of Billie Eilish’s 2020 dates — have been cancelled, in addition to festivals such as Stagecoach, Coachella, and Lollapalooza.
United States Conferences, Concert and Event industry Key Players:
The United States event market is fragmented as there are various players such as Mixhalo Inc, Live Nation Worldwide, Inc., Ticket City, Inc., Bizzabo, Eventbrite, InEvent, Inc and Ticket Falcon. Further mergers and acquisitions have expanded the competition catering to an intense rivalry in the United States event industry.
Renub Research latest Report “United States Conferences, Concert and Event Market by Type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminar and Others), Revenue Source (Tickets, Sponsorship and Others), Organizers (Corporate Sports, Education, Entertainment and Others), Age Group (Below 20 Years, 21–40 Years, Above 40), Company Analysis (Mixhalo Inc, Live Nation Worldwide, Inc., Ticket City, Inc., Bizzabo, Eventbrite, InEvent, Inc and Ticket Falcon)"" provides complete details on United States Event Industry
Type – United States Conferences, Concert and Event Market breakup by 6 viewpoints
1. Music Concert
4. Exhibitions & Conferences
5. Corporate Events & Seminar
Revenue Source – United States Conferences, Concert and Event Market breakup by 3 viewpoints
Organizers – United States Conferences, Concert and Event Market breakup by 5 viewpoints
Age Group – United States Conferences, Concert and Event Market breakup by 3 viewpoints
1. Below 20 Years
2. 21–40 Years
3. Above 40
All key players have been covered from 2 viewpoints
• Recent Developments
1. Mixhalo Inc
2. Live Nation Worldwide, Inc.
3. Ticket City, Inc.
6. InEvent, Inc
7. Ticket Falcon
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook