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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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Prime Minister to travel to New York City to attend the United Nations General Assembly and the Summit of the Future

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OTTAWA, ON, Sept. 16, 2024 /CNW/ – The Prime Minister, Justin Trudeau, today announced that he will travel to New York City, United States of America, from September 22 to 25, 2024, to participate in the 79th Session of the United Nations General Assembly and the Summit of the Future. The Prime Minister will work closely with Canada’s international partners to strengthen democracy, take climate action, defend global security, and improve access to health care, including reproductive health.

As Co-Chair of the United Nations Sustainable Development Goals Advocates group, the Prime Minister will reaffirm Canada’s commitment to advancing ambitious international action toward the 2030 Agenda for Sustainable Development. This includes moving forward on shared work on education, climate change and biodiversity loss, and gender equality around the world.

At the Summit of the Future, the Prime Minister will join other leaders to take action on key global challenges and enhance ways to work together to secure a better future for everyone. The leaders will work to accelerate efforts on pressing global challenges, including sustainable development, international peace and security, technological innovation and digital co-operation, decarbonization and clean energy, and human rights.

Prime Minister Trudeau will co-host a discussion with the Prime Minister of Haiti, Garry Conille, to help mobilize the resources needed to address the crises the country is facing and support solutions that are Haitian-led and focused on the needs of the Haitian people. He will also co-host a high-level event with the President of the European Commission, Ursula von der Leyen, to promote action on climate change, carbon pricing, and industrial decarbonization.

Throughout his visit, the Prime Minister will collaborate with other leaders on pressing geopolitical challenges, including Russia’s ongoing war of aggression against Ukraine as well as the evolving situation in the Middle East. He will emphasize the importance of international efforts to safeguard peace and security around the world, including by defending democracy and strengthening the rules-based international order.

Achieving a more peaceful, stable, and prosperous world starts with unified global action. Canada’s unwavering commitment to the United Nations is a pledge to Canadians that we will do our part to build a better future for everyone.

Quote
“At this year’s United Nations General Assembly and at the Summit of the Future, Canada will have a leading role in making the world fairer and more prosperous. I look forward to working with other leaders to accelerate progress on our shared priorities and build a better future for everyone.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

Quick Facts

Canada has been active at the United Nations (UN) since its creation in 1945 and has played a key role in drafting the UN Charter, the treaty that is the cornerstone of the rules-based international order.Canada is the sixth-largest donor to the UN, including voluntary and assessed contributions totalling over US$2 billion in 2022.In 2015, Canada joined all UN Member States in adopting ambitious goals for sustainable development, as outlined in Transforming our World: The 2030 Agenda for Sustainable Development. The 2030 Agenda centres on a set of 17 Sustainable Development Goals (SDGs), encompassing the social, economic, and environmental dimensions of sustainable development. Taken together, the SDGs aim to improve the lives of all people, while protecting the planet.Released in 2021, Moving Forward Together: Canada’s 2030 Agenda National Strategy builds upon 30 actions and five core principles to create and foster an enabling environment for ongoing dialogue and participation to encourage Canadians to take action to realize the SDGs.In 2022, Prime Minister Trudeau was named Co-Chair, with the Prime Minister of Barbados, Mia Mottley, of the UN SDG Advocates group by UN Secretary-General António Guterres. SDG Advocates work to raise global awareness of the SDGs and of the need for accelerated action by using their respective platforms.In 2021, Canada launched the Global Carbon Pricing Challenge. This partnership aims to expand the use of pollution pricing by strengthening existing systems and supporting emerging ones. The Challenge also serves as a forum for dialogue and co-ordination to make pricing systems more effective and compatible while supporting other countries in adopting carbon pricing and cutting emissions on the path to net-zero by 2050.

Associated Links

Canada and the United NationsSummit of the FutureTransforming our World: The 2030 Agenda for Sustainable DevelopmentThe 2030 Agenda for Sustainable Development

This document is also available at https://pm.gc.ca

SOURCE Prime Minister’s Office

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NORTH STAR PROMISE DRIVES RECORD ENROLLMENT AT MINNESOTA’S PUBLIC COLLEGES AND UNIVERSITIES

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State Colleges and Universities See 7% Enrollment Surge; University of Minnesota Freshman Class Up 8%

SAINT PAUL, Minn., Sept. 16, 2024 /PRNewswire/ — North Star Prosperity released the following statement after public higher education institutions across the state reported a surge in enrollment thanks to the North Star Promise, a groundbreaking program designed to increase college access and affordability by providing tuition-free opportunities at public and tribal colleges for Minnesota residents making less than $80,000. It is the first time in over a decade that enrollment at Minnesota’s public colleges has increased.

North Star Prosperity led the campaign for North Star Promise, which Governor Tim Walz signed into law in May 2023.

“The North Star Promise program is a game-changer,” stated Mike Dean, Executive Director of North Star Prosperity. “We know that higher education is the most reliable path toward the middle class and yet for more than two decades, the cost of college has been out of reach for too many students. When we make education affordable and accessible, it’s an investment in the future of Minnesota’s workforce. Giving Minnesotans the tools to succeed in today’s economy is not only the right thing to do; it’s good business.”

For more information about the North Star Promise and how it benefits Minnesota residents, please visit www.northstarprosperity.org/freecollege or contact Mike Dean.

North Star Prosperity is fighting for an economy that works for all Minnesotans. Driven by our belief that everyone deserves a fair shot, we challenge the systemic roots of poverty and inequality by advocating for progressive economic policies that dismantle structural barriers and expand opportunity for all.

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SOURCE North Star Prosperity

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Mynaric Advances Production of CONDOR Mk3

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Shipments will support the Space Development Agency’s Tranche 1 program

MUNICH, Sept. 16, 2024 /PRNewswire/ —  Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced the successful advancement of the company’s volume production ramp for the CONDOR Mk3. Mynaric continues to work through previously announced production delays and has realized near-term improvement in production yields and supply chain-related bottlenecks. Production delays of CONDOR Mk3 were caused by lower than expected production yields and supplier shortages of key components.

“We remain committed to our mission to deliver laser communications products at scale to the market and meet our near-term customer requirements,” said Joachim Horwath, Chief Technology Officer and founder of Mynaric. “Despite the setbacks we faced over the past few months, our team has worked tirelessly to address these challenges. We have implemented solutions to ensure the smooth continuation of our production process.”

“We are happy to report that the technical challenges on the production ramp are being addressed and I am working with Joachim to ensure that Mynaric is well positioned for future success,” said Andreas Reif, Chief Restructuring Officer of Mynaric. “Moving forward, Mynaric will continue to meet the current requirements of our customers.”

Current shipments of the CONDOR Mk3 free space optical communications system will be part of the United States Space Development Agency (SDA) Tranche 1 program. Mynaric was selected by Northrop Grumman as the sole supplier of optical communications terminals for the SDA’s Tranche 1 Transport and Tracking Layer programs and by York Space Systems for the SDA’s Tranche 1 Transport Layer. Mynaric was also selected by Loft Federal to supply the CONDOR Mk3 terminals to NExT – the SDA’s Experimental Testbed.

In addition, Mynaric continues to pursue opportunities that explore the use of free-space optical communications for additional space programs. Mynaric has been recognized as a key development partner in Phase 2 of DARPA’s Space-BACN program, was selected by the European Space Agency (ESA) to investigate optical technologies for next generation high-throughput optical inter-satellite links and was selected by the German government for multiple projects to develop quantum communication capabilities.

In addition, Mynaric continues to diligently pursue additional capital sources to secure our on-going operations and production ramp. We continue to evaluate a number of different strategic options to address our near-term capital needs.

About Mynaric

Mynaric (NASDAQ: MYNA) (FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.

For more information, visit mynaric.com

MEDIA CONTACT
Krista Hazen                                                                                   
krista.hazen@mynaricusa.com   

View original content to download multimedia:https://www.prnewswire.com/news-releases/mynaric-advances-production-of-condor-mk3-302249337.html

SOURCE Mynaric USA, Inc.

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