The corporate event planner market is anticipated to flourish at a booming CAGR of 31.8% between 2023 and 2033. The market is expected to hold a market share of USD 6,196.4 billion by 2033, while the market is likely to reach a value of USD 390.7 billion in 2023.
The market is predicted to expand during the forecast period, owing to the increasing demand for automation among event management companies to simplify event functionalities. Furthermore, an increased emphasis on gaining actionable insights from events is propelling the corporate event planner to market key trends and opportunities.
The market facilitates numerous functions such as venue management, ticketing and registration management, event analytics, and lead management, which assist corporate event planners in successfully planning and managing events. Corporate event planners do not need to implement multiple software solutions because it provides multiple functions on a single platform at a lower cost.
| Attributes | Details |
|---|---|
| Corporate Event Planner Market CAGR (2023 to 2033) | 31.8% |
| Corporate Event Planner Market Size (2023) | USD 390.7 billion |
| Corporate Event Planner Market Size (2033) | USD 6,196.4 billion |
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Consumers' Expendable Income
Customers' disposable income has boosted their interest in organizing the event with the help of various event planners and event management companies, which is expected to drive the corporate event planner market during the forecast period.
Everyone wants their events to go smoothly, and with the help of an events management company, the client can reduce stress and enjoy their event.
Proper event management is essential for any successful event. With the increase in disposable income, people prefer to hire an event planner and get the event done. Consumers' rising disposable income is expected to drive the global corporate event planner market during the forecast period.
Growing Youth Interest in Entrepreneurship and Business Seminars are a Motivating Force in the Market.
One of the most interesting and challenging jobs is event management. Today's youth are eager to pursue careers in event planning because it is a job that allows them to work and have fun at the same time. Event management allows them to meet new people and work in groups.
Due to the numerous benefits of being an event planner, most young people are drawn to this profession, which is expected to drive the market. Furthermore, companies are surging at a faster rate and investing heavily in organizing events where they can showcase products or meet employees to convey a message, which is expected to boost the market.
The Emergence of Social Media Advertising and Marketing to Facilitate Gains
Social media is a robust and free online platform for event planners to support their business goals. Social media advertising and marketing enable event planners to track website traffic, gain more clients, and help shape the organization's reputation.
Social media tools such as Twitter, Facebook, LinkedIn, and Instagram are used by event planners for social media outreach.
They can analyze the most successful channels and the type of content that users are sharing using tools like Hootsuite, Oktopost, or Mention. As a result, the use of social media for event marketing is expected to boost the corporate event planner market growth during the forecast period.
High Initial Cost and Complex Integration of Event Management Software to Encumber Growth
Integrating event management software solutions with CRM systems allows event planners to easily plan, promote, and track all activities. However, integrating this software with CRM or other business functions is difficult because it necessitates a high level of technical expertise.
Lack of technical knowledge, particularly in SMEs, may result in the software's integration with other business systems failing, resulting in the loss of critical business information. Furthermore, high initial costs, as well as a lack of expertise, are some key factors impeding the growth and opportunities.
High Prices are Projected to Pose the Most Significant Market Restraint
The cost of organizing the event is very high, and this is expected to restraint the global market during the forecast period.
Most organizations and individuals are interested in organizing an event, but the high cost and the event planners' fees limit market growth. Most organizations and the general public avoid hiring an event planner due to the higher costs.
Key corporate event planner market players are adopting cloud technology because it allows end-users to store massive amounts of data and files in a remote location and access them from any internet-enabled location.
Cloud-based software solutions allow corporate event planners to interact with employees, suppliers, and clients easily. Cloud-based solutions assist corporate event planners in creating and managing location lists, representing pictorial images or charts for better management, and even identifying potential custom events.
Cloud-based event management software can manage event teams from any location at any time and support and manage booking requests in a streamlined manner. Similarly, this software can handle event promotions, bookings, cancellations, and financial transactions.
Corporate event planners can use cloud-based software to prioritize and resolve event tasks in a single platform. Aside from providing all cloud-related information, this software simplifies all the day-to-day tasks associated with event planning. The cloud-based solution may automate and streamline the majority of the time-consuming and labor-intensive tasks.
| Countries | Revenue Share % (2022) |
|---|---|
| United States | 18.7% |
| Germany | 9.8% |
| Japan | 7.9% |
| Australia | 2.8% |
| North America | 29.1% |
| Europe | 21.8 |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 35.7% |
| India | 33.4% |
| United Kingdom | 32.2% |
The North American region in the corporate event planner market is expected to provide corporate event planner market growth and opportunities for the regional market during the forecast period.
During the forecast period, the North American market held a market share of 29.1% in 2022. The presence of many companies throughout the region and companies investing heavily in event organization is expected to be a key driving factor for the market in the estimated timeframe.
North America's corporate event planner market is so large that it employs many people. Such factors are expected to drive the regional market during the forecast.
| Category | By Event Type |
|---|---|
| Leading Segment | Trade Shows/Exhibitions |
| Market Share (2022) | 36.8% |
| Category | By Industry Type |
|---|---|
| Leading Segment | Information Technology (IT) |
| Market Share (2022) | 33.5% |
According to the forecast, company meetings segment is expected to have a substantial CAGR in the corporate event market over the forecast period.
This is due to the growth of the travel and tourism industry, an increase in international business travel, and the expansion of the information technology sector. The conference/seminar segment dominated the corporate event planner market and is expected to continue throughout the forecast period.
This is due to increased meeting activities in various industries, including information technology, banking and finance, food and beverage, real estate and infrastructure, and automotive.
Players in the market have used diverse development strategies to increase their market share, capitalize on the corporate event planner market opportunity, and increase profitability. Large initial investments are required to launch a new event organization. However, new entrants in the market pose a moderate threat.
Bassett Events, Inc., MKG, Colin Cowie, David Tutera, JR Global Events, Rafanelli Events, Oren Co, Wonderland, Event Solutions, MGM Resorts, and AJ Williams Events are among the key players profiled.
Recent Developments:
MKG collaborated with creative director Willo Perron to design and produce a larger-than-life launch event for press and influencers in Los Angeles to build excitement around the new Razr and re-establish Motorola as a key player in the corporate event planner market.
MKG produced a short film and projected it onto the iconic Griffith Observatory using the actual cityscape of Los Angeles to showcase Delta and the LA28 Olympic Committee's future vision for the games to announce Delta Air Lines as the founding partner of the 2028 Olympic and Paralympic Games.
Bassett Events has experienced tremendous corporate event planner market growth and continues to do so year after year. Bassett Events is always looking for new clients who may challenge us and allow us to stretch our creative muscles.
Creating one-of-a-kind and never-before-seen experiences for event guests is always a goal and necessary in this industry to stay relevant. Maintaining international clients and events is a top priority.
JR Global Events is a unique full-service international meeting and corporate event planning company. Their inventiveness and can-do attitude combine to offer their clients one-of-a-kind solutions.
The revenue of JR Global Events is USD 5 million. JR Global Events employs the following technologies: HubSpot Sales, HubSpot CRM, HubSpot Calls-to-Action, and Google Cloud Platform.
With the launch of their revamped website and registration solution, Cvent, the market-leading provider of meetings, events, and hospitality technology, has revolutionized event website design. The new interface, dubbed registration reimagined, gives the user complete design control and combines flexible design capabilities with drag-and-drop usability.
Event professionals and marketers in Australia can now create customizable registration pages and interactive websites that are easy to use, mobile-responsive, flexible, and consistent with their event branding.
Active Network, LLC has emerged as a corporate event planner market leader. The SaaS-based EMS solution from the company provides smart registration, secure payment processing, and data-driven tools that assist event organizers in driving participation and increasing revenue while improving administration.
Key players are proactively fortifying their market position by collaborating with other small players and introducing new technologies to the corporate event planner market.
Aventri collaborated with Plannernet to offer customers access to a network of 1,500 specialists in 70 countries. It may assist meeting and event planners in locating Aventri-experienced meeting and event professionals.
However, regional and domestic players with innovative solutions, such as Active Network, LLC, Bizzabo, Cvent Inc., and Eventbank, have entered the corporate event planner market. This is expected to benefit the global market because these companies are expected to gain significant corporate event planner market share during the forecast period.
The market is valued at USD 390.7 million in 2023.
Wonderland and Event Solutions are the key market players.
The trade shows segment is likely to remain preferred through 2033.
Players opt for mergers, partnerships, and acquisitions.
The United States, Germany, and Japan dominate the global market.
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Corporate Event Planner Market
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