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By 2023 to 2032, Rise in popularity of experiential events will Surge to Boost U.S. Event Services Market at 7.0% CAGR

U.S. Event Services Market – amr – Updated

Growth of the event services market in the U.S. is restricted by the unavailability of artists and celebrities

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, December 13, 2023 /EINPresswire.com/ — 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:

Report Coverage Details
Forecast Period 2023–2032
Base Year 2022
Market Size in 2022 $70,300.0 million
Market Size in 2032 $153,096.5 million
CAGR 7.0%
No. of Pages in Report 250
Segments Covered Event Type and Service Type
Drivers
The rising popularity of streaming services
The growing celebrity and artist popularity
Consumer spending and economic conditions
Opportunities
Destination events and tourism
Restraints
Regulatory hurdles
Artist and celebrity availability

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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
Access
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.

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David Correa
Allied Market Research
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Originally published at https://www.einpresswire.com/article/674785966/by-2023-to-2032-rise-in-popularity-of-experiential-events-will-surge-to-boost-u-s-event-services-market-at-7-0-cagr

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