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Events Industry Market to Reach $819.1 billion, Globally, by 2035 at 5.4% CAGR: Allied Market Research

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“Event organizers are increasingly focusing on reducing the environmental impact of their events by implementing sustainable practices. This includes using eco-friendly materials, minimizing waste, choosing sustainable venues, promoting digital ticketing and communication to reduce paper use, and offering plant-based catering options.”

WILMINGTON, Delaware, July 22, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Events Industry Market by Type (Music Concert, Festivals, Sports, and Others), and Organizer (Sports, Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2035″. According to the report, the “events industry market” was valued at $438.8 billion in 2023, and is estimated to reach $819.1 billion by 2035, growing at a CAGR of 5.4% from 2024 to 2035.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/2422

Prime determinants of growth

In the past few decades, global economies have been seeking ways to utilize the potential of youth in entrepreneurship, and start-up ventures. Various events & programs such as seminars, conferences, entrepreneurship programs, fora, and others are organized to offer guidelines and solutions for the youth. Different countries organize and invest in various programs to see whether students can leverage untapped business opportunities. The increase in the number of attendees at business seminars and proper counseling programs has enabled youth to convert their innovative business ideas into viable plans.

Moreover, advancements such as online booking, phone calls, emails, and video conferences have made communication and transactions significantly cost-effective and easy in real time. Apart from the change in approach and purpose in event management, technology has been a key turning point in the evolutionary process of event management. In addition, digital evolution has introduced various creative ways to reach a wide customer base for events. Smartphones, desktop apps, and mobile apps have made events efficient and manageable.  

Report Coverage & details:

Report Coverage

Details

Forecast Period

2024-2035

Base Year

2025

Market Size In 2023

$438.8 Billion

Market Size In 2035

$819.1 Billion

CAGR

5.4 %

No. Of Pages In Report

225

Segment Covered

Type, Organizer, And Region

Drivers

Increase In Sponsorship For Events

Rise In Interest Among Youth In Entrepreneur & Business Seminars

Rise In Disposable Income

Opportunities

Technological Advancements

Restraints

High Operational Costs Involved In Organizing Events

Entry Barriers Due To Presence Of Existing Giant Players

Procure Complete Report (225 Pages PDF with Insights, Charts, Tables, and Figures): https://tinyurl.com/2bfz2rxc

Sports segment to maintain its leadership status throughout the forecast period

By type, the sports segment held the major share of the market share in 2023, accounting for more than two-fifths of the global event industry market, and is estimated to maintain its leadership status throughout the forecast period. It has been witnessed that sports events have become more commercial over the last two decades. Thus, sports serve as a significant marketing advertisement opportunity for event management companies, which sponsor these events.

Festivals was the fastest-growing segment of the market in 2023. Giant players operating in the market sponsor such events to create awareness among consumers about their products & services, which fuels the growth of the global market.

Entertainment segment to retain its dominance by 2035

By organizer, the entertainment segment held the major share of the market in 2023, accounting for more than half of the global event industry market, and is estimated to maintain its leadership status throughout the forecast period. The entertainment industry includes club festivals, which involve music conferences and international music professionals. Entertainment events not only include parties but also conferences for businesses. Such conferences involve performing artists and speakers from across the world to network and exchange ideas.

Sports was the fastest-growing segment of the market in 2023. Food stalls and merchandise available at stadiums serve as major sources of generating revenue. Therefore, sports are an important platform that generates high revenue, thereby supplementing the growth of the events industry.

Europe to maintain its dominance by 2035

By region, Europe held the highest market share in terms of revenue in 2023, accounting for more than half of the global event industry market. The events industry in Europe, as in North America, is robust and mature. Planners in Germany and Spain anticipate the highest increase in activity, with most types of meetings increasing in both numbers and attendees. In Europe, demand for events witnessed significant growth owing to companies being more prudent about their spending and therefore not traveling too far afield for meetings.

North America was the fastest-growing region of the market in 2023. New strategies such as open booking are gaining increased popularity among business travelers, due to an increase in the adoption of smartphones, which is expected to further boost the market growth.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies:  https://www.alliedmarketresearch.com/purchase-enquiry/2422

Leading Market Players

Access Destination Services, LLCCvent Holding Corp.CL EventsDRPG GroupAnschutz Entertainment GroupATPI Ltd.Capita Plc.BCD Group International BVClarion Events LimitedEvenbriteLive Nation.

The report analyzes these key players in the event industry market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

Similar Reports We Have on Consumer Goods Industry:

Event Services Market Opportunity Analysis and Industry Forecast, 2021-2031Live Events Industry Opportunity Analysis and Industry Forecast, 2020-2031Corporate Event Market Opportunity Analysis and Industry Forecast, 2022-2032Virtual Events Industry Market Opportunity Analysis and Industry Forecast, 2021-2031Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031Sports Events Market Opportunity Analysis and Industry Forecast, 2021-2031K-pop Event Market Opportunity Analysis and Industry Forecast, 2021-2031US.Event Market Opportunity Analysis and Industry Forecast, 2021-2030Europe Events Market Opportunity Analysis and Industry Forecast, 2020-2030Saudi Arabia Events Industry Opportunity Analysis and Industry Forecast, 2022-2031UK Events Market Opportunity Analysis and Industry Forecast, 2021-2030Asia Event Industry Opportunity Analysis and Industry Forecast, 2019-2026

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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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HONOR Redefines Mobile AI Solutions with PC powered by Snapdragon, on-device AI Agent and AI Deepfake Detection at IFA 2024

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HONOR, Qualcomm, and Microsoft Redefine Innovations in Mobile AI

BERLIN, Sept. 7, 2024 /CNW/ — Today at IFA 2024, HONOR unveiled three groundbreaking mobile AI Solutions: AI PC powered by Snapdragon® X Elite platforms, AI Agent and AI Deepfake Detection. The launch was accompanied by a thought-provoking panel discussion featuring HONOR CEO George Zhao; Alex Katouzian, Group GM of MCX at Qualcomm Technologies, Inc.; and Mark Linton, VP of Device Partner Sales at Microsoft. Together, they explored the convergence of AI and Snapdragon technology, discussing how these innovations are shaping the future of mobile AI.

“When it comes to mobile computing, AI is not just a buzzword, it’s a revolution,” commented George Zhao, CEO of HONOR Device Co., Ltd. “At HONOR, we’re committed to working with our partners to deliver powerful AI capabilities and seamless connectivity, while protecting our users’ privacy. Through open collaboration with industry leaders, we’re creating devices that empower individuals and redefine what’s possible.”

“At Qualcomm Technologies, we believe the NPU is the key to unlocking the true potential of AI in PCs,” added Alex Katouzian, Group GM of MCX, Qualcomm Technologies, Inc. “The Snapdragon X Elite with its industry-leading NPU performance empowers AI PCs like the HONOR MagicBook Art 14 to deliver next-generation AI experiences. Not only will users see a significant boost in capabilities, but the NPU’s efficiency also translates to longer battery life, allowing users to stay productive for extended periods.”

HONOR MagicBook Art 14 Snapdragon: Redefining PC in the Mobile AI Era
The PC landscape is undergoing a radical transformation, driven by advancements in AI and the rise of Snapdragon platforms. Fueled by HONOR’s platform-level AI capabilities and developed in collaboration with top industry leaders, HONOR MagicBook Art 14 Snapdragon heralds a new era of computing.

Featuring a sleek and compact design, the HONOR MagicBook Art 14 Snapdragon is a marvel of lightweight engineering. It incorporates cutting-edge platform-level AI features alongside robust hardware and software solutions, ensuring unmatched productivity and user experience. It translates the lightweight and slim characteristics of smartphones to laptops, delivering the lightest and slimmest AI PC on the market, weighing approximately 1kg with a slimness of 1cm. Delivering an immersive visual journey, the HONOR MagicBook Art 14 Snapdragon features a captivating 14.6-inch HONOR FullView Touch Display boasting a crystal-clear 3.1K resolution. It also includes an outstanding 97% screen-to-body ratio, the largest among 14-inch laptops. The HONOR MagicBook Art 14 Snapdragon is powered by the Qualcomm Snapdragon X Elite, elevating the computing experience to new heights in terms of power, efficiency, and security.

The HONOR MagicBook Art 14 Snapdragon also enables a smooth transition of Windows applications on X86 to the Windows on Snapdragon architecture. Based on years of research on the ecosystem, HONOR created a Hotspot Library that uses platform-level AI to identify frequently used scenarios and trigger translation optimization efficiently. HONOR has improved 16% of the average boot-up time1 with translation optimization across a diverse array of Windows applications. Currently, HONOR has optimized a total of the Top 14 applications across six major categories, including browsers, online meetings, media, office, social software and tools.

The HONOR MagicBook Art 14 Snapdragon will be soon available in German, France and Italy.  For preorder, please visit HONOR online store now at www.honor.com.

Seamless AI Experiences Elevated by the Power of MagicRing
In the mobile AI era, seamless cross-OS connectivity will truly empower users to unlock AI everywhere. Unlike the manual point-to-point connections in traditional solutions, the HONOR MagicRing allows multiple devices of the same account to automatically connect with low power consumption.

The MagicRing not only connects devices but also connects services across the devices. The solution also enables users to use the same set of keyboard and mouse for multiple devices, receive calls and notifications on a device other than their smartphones, and control the smartphone’s camera on the PC. With the secure and smooth flow of services and information across devices, MagicRing makes multi-device AI experience easier. For example, as one of the typical scenarios of Windows on Snapdragon experience, Cocreator allows users to produce fantastic artwork with simple draws. Powered by MagicRing, users can seamlessly access Cocreator on their HONOR MagicPad 2, drawing AI masterpieces with their Magic-Pencil. In the Meanwhile, they can also use AI Eraser from HONOR Magic V3 on the HONOR MagicBook Art 14 Snapdragon to experience unparalleled levels of convenient mobile AI.

HONOR AI Agent: The First On-device AI Agent for the Open Ecosystem
The HONOR AI Agent is a revolutionary always-on personal assistant designed to enhance and simplify users’ daily lives. By intuitively understanding users’ requests and intentions through language analysis and UI awareness technology, the AI Agent that learns from their habits and device environment can intelligently make decisions across various apps and services. This capability allows it to automate complex tasks. HONOR demonstrated how to find and cancel unwanted app subscriptions across different apps with just a few simple voice commands on their smartphones.

As we look to the future, the HONOR AI Agent is poised to become the cornerstone of mobile AI, and it is anticipated to arrive with the HONOR Magic7 Series later this year in China. This innovation not only signifies a leap in technology but also heralds a new era where AI seamlessly integrates into our daily routines, enhancing everyday productivity and efficiency.

The World’s First On-device AI Deepfake Detection Technology
As the technology behind deepfakes becomes more sophisticated, the potential for misuse, including identity theft and the spread of disinformation, grows significantly. HONOR’s on-device AI Deepfake Detection represents a groundbreaking solution designed to protect users from the increasingly prevalent threat of deepfakes. This innovative detection system employs advanced algorithms to meticulously analyze various elements, including pixel-level synthetic imperfections, border compositing artifacts, inter-frame continuity, consistency in face-to-ear hairstyle, and the positioning of synthetic traces. By examining these characteristics, the technology can accurately identify manipulated content, distinguishing between genuine media and deceptive alterations.

About HONOR 
HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.

For more information, please visit HONOR online at www.honor.com or email newsroom@honor.com 

https://community.honor.com/  
https://www.facebook.com/honorglobal/  
https://twitter.com/Honorglobal  
https://www.instagram.com/honorglobal/  
https://www.youtube.com/c/HonorOfficial  

1Data comes from HONOR labs.

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SDAIA to Unveil Key AI Strategies and International Collaborations at Global AI Summit Press Conference

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RIYADH, Saudi Arabia, Sept. 7, 2024 /CNW/ — The Saudi Authority for Data and Artificial Intelligence (SDAIA) will hold a press conference on Sunday, September 8, at the King Abdulaziz International Conference Center. The press conference will highlight key aspects of the upcoming third edition of the Global AI Summit, taking place under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of SDAIA’s Board of Directors. The summit is scheduled for September 10-12, 2024, and will feature over 300 speakers, attracting global thought leaders, policymakers, and AI experts from more than 100 countries.

The press conference will feature remarks from prominent figures, including H.E. Dr. Abdullah bin Sharaf Alghamdi, President of SDAIA, H.E. Dr. Esam bin Abdullah Alwagait, Director of the National Information Center (NIC), and H.E. Dr. Yaser bin Mohammed Al-Onaizan, CEO of the National Center for AI (NCAI) in SDAIA.

Key topics to be covered during the press conference will include the significance of the Crown Prince’s patronage, the summit’s focus areas, and its anticipated impact on the good of humanity, particularly amid the rapid development of AI technologies. It will also showcase how AI is driving economic growth, creating new sectors and industries, and addressing global challenges. Furthermore, the press conference will spotlight Saudi Arabia’s leadership in promoting responsible AI use and ethics on the international stage, while addressing both the opportunities and challenges AI presents.

For more information about the GAIN Summit, please visit:  https://globalaisummit.org/en/default.aspx   

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SOURCE SDAIA

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More Than a Device: Timekettle Unveils W4 Pro AI Interpreter Earbuds at IFA 2024

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BERLIN, Sept. 7, 2024 /PRNewswire/ — Timekettle, the expert in AI translator earbuds, has unveiled its latest innovation, the W4 Pro AI Interpreter Earbuds, at the International Funkausstellung (IFA) 2024. More than a device, the W4 Pro functions like a personal assistant, catering to the cross-language communication needs when hosting foreign guests, conducting multi-language online meetings, or traveling abroad for business or leisure.

“Interpreter earbuds like the W4 Pro are essential even when phones can be used for translation, because they cater to a more refined and immersive user experience,” said Leal Tian, the CEO of Timekettle. “In cross-language communication, there’s a growing need for meaningful conversations and deeper connections beyond basic translations, especially for business pros, immigrants, and travelers. The W4 Pro meets these needs by allowing natural, hands-free conversations with eye contact, making interactions smoother.”

The W4 Pro caters to diverse communication needs in three distinct modes. The first mode focuses on one-on-one simultaneous interpreting. It features advanced technology that allows for instant translation in a two-way conversational setting. Its dual interpretation system redefines successful communication by allowing two voices to merge into a singular flow. The earbuds also incorporate a triple microphone array that enhances voice recognition and translation accuracy.

For professionals navigating multilingual meetings, the W4 Pro’s Listen & Play mode is an ideal choice. It allows seamless switching between listening and speaking with simultaneous interpretation. Timekettle’s AI Semantic Segmentation ensures rapid sentence parsing, enhancing communication and productivity, while AI Memo provides intelligent post-meeting summaries.

The third mode caters to online interactions such as video calls or streaming foreign media content, ensuring users understand every word with real-time translated subtitles and audio summaries post-meeting or event. In addition, unexpected phone calls in a foreign language are no longer a concern, as the W4 Pro offers one-way assisted translation and real-time transcription subtitles, enabling quick information grasp and efficient conversations.

Understanding the importance of user comfort and efficiency, Timekettle has equipped the W4 Pro with an open-ear design, ensuring prolonged comfort without compromising privacy or hygiene. Additionally, its high-end sound quality enriches every interaction, making it comparable to professional audio systems.

Significant Milestone to “Babel Fish”

Timekettle was inspired by the “Babel Fish,” a magical creature from the sci-fi movie “The Hitchhiker’s Guide to the Galaxy.” “Babel Fish” allows people to understand alien languages. Since its inception, Timekettle has been striving to create a real-life “Babel Fish,” enabling everyone to communicate freely across different languages.

Over the past eight years, Timekettle has revolutionized cross-language cultural communication through a series of innovative products. Initially, Timekettle introduced a handheld translator, which, despite requiring users to press a button and wait, significantly aided in understanding across languages. The evolution continued with the M3 Translator Earbuds, allowing users to listen and respond, though still necessitating manual switching of audio channels.

The breakthrough came with the Timekettle WT2 Edge Simultaneous Translator Earbuds, featuring HybridComm™ technology that enabled two-way, real-time communication. Users could speak and listen simultaneously, making conversations more natural and efficient.

Early this year, Timekettle further advanced its technology to process multiple people’s audio in five different languages simultaneously, pushing the boundaries of cross-language communication.

Each of Timekettle’s technological advancements aims to make cross-language communication as seamless as same-language interactions. And now, the Timekettle W4 Pro AI Interpreter Earbuds enable smooth, effective communication in global business negotiations across languages. Looking forward, Timekettle remains committed to achieving universal communication freedom, continuously enhancing its products to facilitate natural and efficient cross-language interactions.

About Timekettle

Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.

For more information, please visit https://www.timekettle.co/

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