The Business Research Company’s report on the Corporate Event Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the corporate event market?
The rise of the business travel sector is expected to propel the growth of the corporate event market going forward. The business travel sector refers to the part of the travel industry focused on work-related travel, including trips for meetings, conferences, client visits, and corporate events. The rise of the business travel sector results from the global expansion of companies, requiring professionals to attend conferences and client engagements to strengthen partnerships and drive growth. Corporate events drive business travel by creating a demand for travel to conferences, meetings, and networking opportunities that support business growth. For instance, in July 2024, according to the Global Business Travel Association, a US-based professional association, global business travel spending is expected to grow by 11.1% in 2024, following substantial year-over-year growth of 30%-47% in 2022 and 2023. Therefore, the rise of the business travel sector is driving the growth of the corporate event market.
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How has the corporate event market size evolved, and what are the latest forecasts for its expansion?
The corporate event market size has grown rapidly in recent years. It will grow from $254.53 billion in 2024 to $282.17 billion in 2025 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to increasing corporate spending on events, rising importance of brand engagement, growth of the MICE industry, rising disposable income of enterprises, and increased sponsorship and partnerships.
The corporate event market size is expected to see rapid growth in the next few years. It will grow to $421.89 billion in 2029 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to increasing adoption of hybrid events, a growing focus on sustainability in events, rising demand for personalized event experiences, increasing use of AI and data analytics in event planning, and rising corporate travel budgets. Major trends in the forecast period include advancement in virtual and augmented reality, integration of AI in event planning and management, integration of IoT for smart event management, integration of 5G for seamless virtual connectivity, and development of AI-powered chatbots for event assistance.
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Which major companies dominate the corporate event market?
Major companies operating in the corporate event market are Jack Morton Worldwide, Zoom Video Communications Inc., Informa PLC, American Express Global Business Travel, BCD Travel Services B.V., Maritz Holdings Inc., Cvent Inc., Global Experience Specialists, MCI Group, BI WORLDWIDE, Clarion Events Ltd., ITA Group Inc., Eventbrite Inc., Creative Group Inc., Flight Centre Travel Group Limited (FCM), Access Destination Services LLC, The Big Group, Hosts Global, 360 Destination Group LLC, ATTRI, Magma Event Group, PRA Events Inc.
What trends will shape the future of the corporate cyber warfare market?
Major companies operating in the corporate event market are focusing on technology integration, such as artificial intelligence (AI)-powered matchmaking platforms, to gain a competitive edge in the market. AI-powered matchmaking platforms are transforming corporate events by enhancing networking, engagement, and lead generation through intelligent attendee-exhibitor connections. For instance, in September 2024, Stova, a US-based event management platform, launched its innovative and scalable Exhibitor Resource Center (ERC), designed to streamline exhibitor and sponsor management for event professionals. This centralized hub enables exhibitors and sponsors to efficiently manage their participation in corporate and industry events, including trade shows, conferences, and exhibitions. The ERC offers a comprehensive suite of tools for handling exhibitor profiles, sponsorship deliverables, registration, promotional activities, and logistical tasks. Widely adopted in corporate settings, it enhances exhibitor engagement, optimizes event management, and maximizes ROI for organizers and participants alike.
Which region dominates the corporate event market, and what factors contribute to its leadership?
North America was the largest region in the corporate event market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corporate event market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the corporate event market segmented, and which segment holds the largest share?
The corporate event market covered in this report is segmented –
1) By Event Type: Conferences And Seminars, Company Meetings, Trade Fairs And Exhibitions, Product Launches, Incentive Or Reward Programs, Other Event Types
2) By Platform: Offline Event, Hybrid Event, Online Event
3) By Event Size: Mega And Large Scale, Small And Medium Scale
4) By Industry: Banking, Financial Services And Insurance (BFSI), Automotive, Real Estate And Infrastructure, Information Technology, Other Industries
Subsegments:
1) By Conferences And Seminars: Business Conferences, Academic Conferences, Industry-Specific Seminars, Leadership Summits
2) By Company Meetings: Board Meetings, Shareholder Meetings, Annual General Meetings (AGMs), Team Building Meetings
3) By Trade Fairs And Exhibitions: B2B Trade Shows, B2C Expos, Industry-Specific Exhibitions, Networking Trade Fairs
4) By Product Launches: New Product Unveilings, Brand Promotion Events, Media And Press Launches, Private VIP Launch Events
5) By Incentive or Reward Programs: Employee Recognition Programs, Sales Incentive Trips, Performance-Based Rewards, Customer Loyalty Events
6) By Other Event Types: Corporate Retreats, Charity And Fundraising Events, Award Ceremonies, Training And Development Workshops
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How is the corporate event market defined, and what are its core characteristics?
A corporate event is a planned gathering organized by a business or organization to achieve specific objectives, such as fostering collaboration, enhancing brand image, communicating key messages, or engaging stakeholders. These events are designed to facilitate networking, knowledge sharing, team building, or business growth, often incorporating structured activities, presentations, and interactions tailored to the organization’s goals.
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