Report : South America Events Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Event Type (Virtual, Hybrid, and Physical), Revenue Source (Ticket Sale, Sponsorship, and Others), Type (Music Concert, Festival, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Others), Organizer (Corporate, Sports, Education, Entertainment, Association, and Others), Application (B2B and B2C), and Enterprise Size (Small and Medium Enterprises and Large Enterprises)
At 8.6% CAGR, the South America Events Market is speculated to be worth US$ 45.53 billion by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America events market was valued at US$ 27.71 billion in 2022 and is expected to reach US$ 45.53 billion by 2028, registering an annual growth rate of 8.6% from 2022 to 2028. The technological advancements and increasing demand for hybrid events are the critical factors attributed to the market expansion.
With the advent of virtual events, planners have expanded their reach and scaled their events to a larger audience. Live translation as part of an event package may give virtual and physical event venues a competitive advantage. Businesses will also be able to collaborate with event planners in places they would not ordinarily go. QR codes may also be used to keep track of event registrations. Event venues may add QR codes to their safety arsenal as yet another touch and germ-free means to link planners with attendees according to contemporary health rules. Thus, continuous advancements in event management are likely to provide lucrative opportunities for the growth of the events market during the forecasted period.
On the contrary, high operational costs involved in organizing events hurdles the growth of South America events market.
The South America events market is segmented on the basis of event type as virtual, hybrid, and physical. The physical segmet held 75.8% market share in 2022, amassing US$ 21.01 billion. It is projected to garner US$ 26.56 billion by 2028 to expand at 4.0% CAGR during 2022–2028.
The virtual segment is further sub-segmented into webinars and others. The others segmet held 76.4% market share in 2022, amassing US$ 2.89 billion. It is projected to garner US$ 6.51 billion by 2028 to expand at 14.5% CAGR during 2022–2028.
On the basis of application, the South America events market is bifurcated into B2B and B2C. The B2B segmet held 57.5% market share in 2022, amassing US$ 15.93 billion. It is projected to garner US$ 26.96 billion by 2028 to expand at 9.2% CAGR during 2022–2028.
By the size of enterprise, the South America events market is fragmented into small and medium enterprises (SMEs) and large enterprises. With 76.1% share of the domain, the large enterprises segment dominated the market in 2022. It accrued US$ 21.08 billion in 2022 and is estimated to generate US$ 33.32 billion by 2028 to grow at a CAGR of 7.9% over the forecast period.
Based on revenue source, the South America events market is segmented into ticket sale, sponsorship, and others. With 44.6% share of the domain, the sponsorship segment dominated the market in 2022. It accrued US$ 12.35 billion in 2022 and is estimated to generate US$ 21.73 billion by 2028 to grow at a CAGR of 9.9% over the forecast period.
The South America events market is segmented on the basis of organizer as corporate, sports, education, entertainment, and others. With 30.4% share of the domain, the entertainment segment dominated the market in 2022. It accrued US$ 8.43 billion in 2022 and is estimated to generate US$ 15.59 billion by 2028 to grow at a CAGR of 10.8% over the forecast period.
The South America events market is segmented on the basis of type as music concert, festivals, sports, exhibitions and conferences, corporate events and seminars, and others. The corporate events and seminars segmet held 30.4% market share in 2022, amassing US$ 8.43 billion. It is projected to garner US$ 15.17 billion by 2028 to expand at 10.3% CAGR during 2022–2028.
Based on country, the South America events market is categorizsed into Brazil, Argentina, and the rest of South America. Our regional analysis states that Brazil captured 70.7% market share in 2022. It was assessed at US$ 19.59 billion in 2022 and is likely to hit US$ 33.19 billion by 2028, exhibiting a CAGR of 9.2% during the forecast period.
Key players dominating the South America events market are Anschutz Entertainment Group; ATPI Ltd.; BCD Meetings & Events; Cvent Inc; Live Nation Worldwide, Inc.; Pollstar; and StubHub among others.
- In 2019, Live Nation has entered into agreement to acquire Latin American concert promotion powerhouse OSECA.
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