The Latest Event Management Industry Statistics Explained
40% of marketers believe that event management is the most critical marketing channel for achieving business objectives.
The statistic that 40% of marketers believe that event management is the most critical marketing channel for achieving business objectives indicates a significant portion of marketing professionals place great importance on event management in driving successful outcomes for businesses. This suggests that these marketers view events as highly effective tools for engaging with customers, building brand awareness, generating leads, and ultimately driving business growth. The findings highlight the perceived value of in-person interactions and experiential marketing strategies in the increasingly digital landscape, demonstrating a continued recognition of the power and impact of events in the marketing mix.
The event industry generates over $1.1 trillion annually.
The statistic stating that the event industry generates over $1.1 trillion annually indicates the substantial economic impact and importance of this sector. This figure encompasses all revenue generated from various events such as conferences, trade shows, festivals, concerts, and sports events, highlighting the significant role that the event industry plays in driving economic growth and supporting businesses worldwide. The statistic underscores the large scale of this industry, demonstrating its ability to create jobs, stimulate tourism, and contribute to local economies.
More than 73% of businesses prioritize hosting events.
The statistic “More than 73% of businesses prioritize hosting events” indicates that a large majority of businesses place importance on organizing and conducting events. This could involve a wide range of activities such as conferences, trade shows, product launches, networking events, or corporate gatherings. Prioritizing events suggests that businesses recognize the value of in-person interactions and engagements with clients, customers, partners, and employees for various purposes such as marketing, networking, brand building, and relationship-building. By emphasizing the significance of hosting events, businesses aim to leverage these opportunities to achieve their objectives and drive growth and success in their respective industries.
The event management market size was valued at $1,135.4 billion in 2019.
The statistic indicates that the event management market was worth $1,135.4 billion in terms of total revenues generated in 2019. This figure represents the collective value of services and products related to event planning, coordination, and organization, including corporate events, conferences, trade shows, weddings, and other social gatherings. The size of the market gives insights into the scale and significance of the event management industry globally, pointing towards the demand for such services and the economic impact it has on various sectors. Tracking the market size over time can help industry stakeholders, businesses, and policymakers make informed decisions, develop strategies, and understand trends in the event management sector.
The annual growth rate of the event management market was 11.2% from 2014 – 2019.
The statistic indicates that the event management market experienced an annual growth rate of 11.2% between the years 2014 and 2019. This means that on average, the market size for event management services increased by 11.2% each year over this period. The growth rate suggests that there was increasing demand for event management services during these years, potentially driven by factors such as a growing number of events being held, increased corporate spending on conferences and meetings, or shifts in consumer preferences towards experiential events. This statistic provides insight into the industry’s performance and can be valuable for stakeholders in the event management sector for strategic planning and decision-making.
In 2020, an average of 150 events were organized by companies worldwide.
The statistic states that in 2020, companies worldwide organized an average of 150 events throughout the year. This data point represents the typical number of events companies hosted globally during the specified period. It suggests that events play a significant role in the business activities of companies worldwide, ranging from conferences and trade shows to product launches and networking events. By quantifying the average number of events held per company, this statistic provides an insight into the scale and frequency of corporate events in a given year, highlighting the importance of event planning and management within the business landscape.
94% of event marketers plan on investing in virtual events moving forward.
The statistic ‘94% of event marketers plan on investing in virtual events moving forward’ indicates a strong and widespread intention among event marketers to continue or increase their investment in virtual events. This high percentage suggests that virtual events have gained a significant level of acceptance and importance within the industry, likely driven by factors such as the impact of the COVID-19 pandemic on traditional in-person events and the increasing accessibility and effectiveness of virtual event technologies. The statistic implies that virtual events have proven their value and effectiveness for event marketers and are expected to play a significant role in their future strategies and plans.
61% of marketers believe that events are a critical marketing channel for meeting key business objectives.
The statistic “61% of marketers believe that events are a critical marketing channel for meeting key business objectives” indicates that a majority of marketing professionals see events as essential for achieving important business goals. This finding suggests that events are highly valued by marketers as an effective tool for reaching key objectives such as brand awareness, lead generation, customer engagement, and overall business growth. The statistic highlights the significant role that events play in the marketing strategies of many organizations, underlining their perceived importance in driving success and achieving key performance metrics.
In 2019, over 1.3 million business events occurred globally.
The statistic that over 1.3 million business events occurred globally in 2019 signifies a significant level of economic activity and collaboration within the business community worldwide. These events could include conferences, trade shows, networking events, product launches, and other gatherings that facilitate networking, knowledge-sharing, and business development. The magnitude of 1.3 million events underscores the dynamic and interconnected nature of the global business landscape, highlighting the importance of such events in fostering innovation, driving economic growth, and expanding opportunities for organizations to establish partnerships and expand their reach on an international scale.
85% of leadership-level attendees are more likely to purchase after attending a company event.
The statistic that 85% of leadership-level attendees are more likely to purchase after attending a company event suggests a strong positive impact of events on purchasing behavior within this specific demographic. This indicates that company events are effective in influencing decision-making among leaders, potentially leading to increased sales and business opportunities. The statistic implies that these events serve as valuable platforms to engage key stakeholders, build relationships, showcase products or services, and ultimately drive conversion rates. Understanding the purchasing behavior of leadership-level attendees can help companies tailor their event strategies to effectively capitalize on this potential for driving business growth and success.
Mobile event apps were used by 85% of event organizers in 2019.
The statistic ‘Mobile event apps were used by 85% of event organizers in 2019’ indicates that a large majority of event organizers chose to utilize mobile event applications in their event planning and execution processes during the year 2019. This high adoption rate suggests the increasing importance and popularity of leveraging mobile technology to enhance event experiences, streamline logistics, improve communication, and engage attendees. The statistic highlights a significant industry trend where event organizers are recognizing the value and benefits of incorporating mobile apps into their event strategies to deliver more efficient and interactive experiences for both organizers and participants.
Live events are believed to grow by 3.9% annually up to 2023.
The statistic suggests that the live events industry is projected to experience a continuous growth rate of 3.9% per year until the year 2023. This indicates that there is a positive outlook for the live events sector in the coming years, with an expected increase in the number of events as well as potential revenue generated from them. The growth rate can be attributed to various factors such as increasing demand for live experiences, advancements in event technology, and evolving consumer preferences. Organizations operating within the live events industry may use this statistic to plan and strategize for future growth and capitalize on the opportunities presented by this upward trend.
Nearly 63% of event marketers plan on investing more in live events in the future.
The statistic indicates that a significant majority, nearly 63%, of event marketers have expressed their intention to increase their investment in live events in the future. This suggests a growing trend towards prioritizing and allocating more resources towards organizing and hosting live events as part of their marketing strategy. The decision to invest more in live events could be driven by the recognized value and effectiveness of such events in engaging with target audiences, creating memorable experiences, and ultimately achieving marketing objectives. Additionally, it implies that event marketers are optimistic about the potential return on investment from live events and believe in the benefits they can bring to their overall marketing efforts and business growth.
The corporate event market is predicted to reach $1.5 billion by 2028.
The statistic that the corporate event market is predicted to reach $1.5 billion by 2028 indicates a forecasted growth in the economic value of the corporate event industry. This prediction suggests that there is an increasing demand for corporate events such as conferences, trade shows, and meetings, which is expected to drive the market to a value of $1.5 billion by the year 2028. This growth projection could be influenced by factors such as economic trends, technological advancements, and shifting preferences in business networking and marketing strategies. As a result, businesses operating in the event planning and management space may need to adapt to meet the evolving needs and expectations of corporate clients in order to capitalize on this anticipated market expansion.
The average number of participants per event is 837 on average globally.
The statistic ‘The average number of participants per event is 837 on average globally’ indicates that across all events analyzed worldwide, the mean number of participants attending each event is 837. This suggests that on average, events attract a significant number of individuals, likely influencing factors such as popularity, accessibility, or size of the event. This statistic provides a useful benchmark for understanding the typical scale of events globally and can be used by event planners, organizers, and researchers to make informed decisions regarding event management, resource allocation, and audience engagement strategies.
70% of businesses that are overperforming in regards to their company’s business goals will increase their live event budgets next year.
The statistic indicates that a significant proportion, specifically 70%, of businesses that are achieving high levels of performance in relation to their company’s business goals are planning to boost their live event budgets for the upcoming year. This suggests that there is a positive correlation between successful business outcomes and the willingness to invest more in live events as a strategic initiative. Companies that are seeing positive results and growth are recognizing the value of live events as a marketing and engagement tool, and are therefore choosing to allocate more resources towards this area in order to further drive their success and achieve even greater results in the future.
Conclusion
The event management industry is thriving, with continuous growth projected in the coming years. As evidenced by the statistics presented, there is a growing demand for professional event organizers and a wide range of opportunities for those seeking to enter the field. By staying informed of the latest trends and statistics in the industry, event management professionals can better position themselves for success and continued growth in this dynamic sector.
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