For a sector that was valued at US$274 billion in 2018, the events
industry in Asia is expected to reach US$567 billion in 2026, with a
growth rate of 9.2%, according to a recent report by Allied Market
Research entitled 'Asia Events Industry Market by Type, Revenue Source,
Organizer, and Age Group: Opportunity Analysis and Industry Forecast,
Events are playing an important role in generating revenue and
building brands for corporations and associations, the report notes.
Depending on the revenue source, the sponsorship segment had the largest
share in 2018 and is expected to grow at a CAGR of 10.1% from 2019 to
Various factors are driving the growth of events in Asia, including a
focus on providing unique, immersive experiences for attendees instead
of just standard conferences or trade shows. The use of technology, such
as virtual and augmented reality, live streaming, and artificial
intelligence, is also improving the overall attendee experience.
report highlights a growing interest in hybrid events, which provide a
more flexible and accessible experience and the ability to reach a wider
sustainability is becoming an increasingly important consideration for
hosting events, with more organisations looking to reduce their
environmental impact and minimise waste. This includes measures like
reducing carbon emissions, using eco-friendly materials, and promoting
recycling and composting.
The report profiles several companies within the Asian events sector,
including ATPI, BCD Meeting & Events, Capital, Cvent, Entertaining
Asia, Live Nation Entertainment, Questex Reed Exhibitions, Riviera
Events, Stubhub, and Lixil Group Corporation.