Detailed analysis of the U.S. event services market segmentation assists to determine the prevailing market opportunities.
PORTLAND, OREGON, UNITED STATES, September 7, 2023/EINPresswire.com/ — The dominance of rock and pop music in global markets, coupled with the preference for hip-hop and rap music among the American population, presents valuable opportunities for advertisers and brands to engage with concert attendees in the U.S. event services market. The commercialization of sporting events has made them a significant avenue for marketing and advertising, attracting event organizers who seek to sponsor these events. Sponsorships from renowned brands such as Redbull, Monster Energy, Nike, and Coca-Cola for large-scale global festivals and smaller concerts in social clubs or arenas contribute to the growth of the U.S. event services industry.
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Moreover, the expansion of event services in the U.S. is driven by the adoption of cutting-edge technology that is capable of seamlessly managing entire events. However, the market faces various challenges in terms of high entry barriers and competition from alternative entertainment options present in the market. Furthermore, increased investments in infrastructure and technological advancements have created immersive augmented reality experiences for clients. Furthermore, the introduction of an all-in-one application for ticketing, attendee surveys, and real-time polling is also contributing to the market growth. All of these factors are expected to create numerous opportunities for players in the U.S. event services industry.
The U.S. event services market is segmented into Service, Event Type, End User and Organization. On the basis of service, the market is fragmented into strategy, planning, budget & development; communication & logistics; attendees management & engagement; event catering; virtual or hybrid event enabler; location rental; and others. As per the event type, it is segregated into music concert, festivals, sports, exhibitions & conferences, corporate events & seminar, and others. By end user, it is categorized into corporate, sports, education, entertainment, and others. According to organization, it is classified into small & medium enterprises, large enterprises, and government bodies & NGOs.
Key companies tracked in the report are, Dynasty Event Services, MGM Event Services and Logistics, CORT Event Furnishings, GES Event Services, EventQuest, PSAV, National Event Services, Avery Event Design, All Occasions Event Rental, and B-Watson Event Services.
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Key findings of the study
• By service, the location rental segment was the highest contributor to the market in 2021, and is estimated to grow with a significant CAGR during the forecast period.
• By event type, the corporate events and seminars segment was the highest contributor to the market in 2021, and is estimated to grow with a significant CAGR during the forecast period.
• By end user, the entertainment segment was the highest contributor to the market in 2021, and is estimated to grow with a significant CAGR during the forecast period.
• By organization, the small and medium enterprises segment was the highest contributor to the market in 2021, and is estimated to grow with a significant CAGR during the forecast period.
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