U.S. Corporate Events Market Is Expected to Reach $510.9 Billion by 2030: Says AMR

Rapid development of the travel & tourism industry, increase in globalization of businesses, and rise in the number of SMEs drive the growth of the U.S. corporate events market. Based on industry, the information technology segment contributed to the major share in 2020. By state, on the other hand, Wisconsin would exhibit the fastest CAGR throughout the forecast period.

/EIN News/ -- Portland, OR, Oct. 25, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. corporate events market was estimated at $95.3 billion in 2020 and is expected to hit $510.9 billion by 2030, registering a CAGR of 17.3% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.

Rapid development of the travel & tourism industry, increase in globalization of businesses, and rise in the number of SMEs drive the growth of the U.S. corporate events market. On the other hand, high operational cost associated with corporate events and surge in geopolitical & social uncertainties restrain the growth to some extent. However, high-end technological advancements and upsurge in infrastructural investment are anticipated to create lucrative opportunities in the industry.

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COVID-19 Scenario-

• The outbreak of the pandemic resulted in cancellations of various corporate events, such as investor presentations, international seminars, and trade shows, especially in the initial phase, thereby impacting the U.S. Corporate events and seminar market negatively.
• However, the hosts of these events are now focusing on the adoption of video conferencing systems to host these events, which is expected to positively impact the market growth.

The U.S. corporate events market is analyzed across type, industry, and state.

Based on event type, the conference segment accounted for around half of the total market share in 2020, and is anticipated to rule the roost by 2030. The company meetings segment, however, would register the fastest CAGR of 18.9% during the forecast period.

Based on industry, the information technology segment contributed to nearly one-third of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The automotive segment, on the other hand, would exhibit the fastest CAGR of 18.8% throughout the forecast period.

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Based on state, the market across New York held the major share in 2020, generating nearly one-fifth of the total market. At the same time, Wisconsin would cite the fastest CAGR of 19.3% during the forecast period.

The key market players analyzed in the U.S. corporate events market report include  Access Destination Services, BCD Travel Services B.V., 360 Destination Group, BI Worldwide, Creative Group, Inc., Reed Exhibitions Ltd., CWT, Cievents, ITA Group, and Maritz Holdings, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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