Corporate Event Market Expected to Reach $723.4 Billion by 2035

According to a new report published by Allied Market Research, titled, “Corporate Event Market," The corporate event market size was valued at $207 billion in 2021, and is estimated to reach $723.4 billion by 2035, growing at a CAGR of 6.9% from 2024 to 2035.

Corporate events are organized gatherings aimed at achieving specific business objectives, such as enhancing brand awareness, facilitating networking, training employees, or celebrating achievements. These events encompass a wide range of formats, including conferences, trade shows, seminars, workshops, product launches, team-building activities, and corporate retreats. Typically tailored to the needs of a company or organization, corporate events provide opportunities for professional development, knowledge sharing, and relationship building among employees, clients, and stakeholders. Corporate events play a crucial role in reinforcing corporate culture, driving business growth, and enhancing overall organizational effectiveness by fostering engagement and collaboration.

The integration of technologies is a pivotal force driving the corporate events market, transforming the planning, execution and experience of a event. Organizers can streamline the planning process, manage registrations, and track attendee engagement efficiently with the advent of advanced event management software. The use of mobile applications enhances attendee experience by providing real-time updates, interactive agendas, and networking opportunities, facilitating seamless communication among participants. Moreover, the rise of hybrid event models, which combine in-person and virtual experiences, allows companies to reach a broader audience, breaking geographical barriers and enabling remote participation. Technologies such as augmented reality (AR) and virtual reality (VR) are also being incorporated to create immersive experiences that captivate attendees and enhance engagement. Additionally, data analytics play a crucial role in measuring event success, providing insights into attendee behavior and preferences, which can inform future event strategies. As organizations increasingly recognize the importance of leveraging technology to create memorable, engaging, and impactful experiences, the corporate events market is poised for continued growth and innovation, making it an essential component of modern business strategies.

The rapid development of the travel and tourism industry is significantly driving the corporate event market share by enhancing accessibility and creating diverse options for event planners. Companies can easily organize events in a variety of destinations, from urban centers to exotic locations as global travel becomes more streamlined due to advancements in transportation infrastructure and technology. This expansion allows for greater flexibility in choosing venues that best suit the objectives of the corporate event, whether it's a high-profile conference in a metropolitan area or a team-building retreat in a tranquil setting. Moreover, the growth of the travel and tourism industry has led to an increase in specialized services, such as destination management companies, which help businesses coordinate logistics, accommodations, and local activities, ensuring a seamless experience for attendees. The rise of business tourism, driven by corporate travel policies that prioritize face-to-face interactions, further emphasizes the need for well-organized corporate events. Additionally, as destinations compete to attract corporate events, they invest in improving facilities, amenities, and technology, making it easier for organizations to host successful gatherings. This synergy between the travel and tourism industry and the corporate events market fosters innovation and corporate event market growth, as companies increasingly leverage travel opportunities to enhance engagement, networking, and collaboration among their stakeholders.

While growing awareness of environmental sustainability is crucial for global efforts to combat climate change, it also presents challenges for the corporate events market, hindering its growth in several ways. As organizations increasingly commit to sustainable practices, they are reevaluating their event planning strategies to align with eco-friendly principles. This shift often necessitates significant changes in the organization of the events, including the selection of venues that prioritize sustainability, sourcing local and organic catering options, and implementing waste reduction strategies. While these initiatives are essential for minimizing environmental impact, they can also lead to increased costs and logistical complexities, especially for businesses accustomed to traditional event models. Additionally, finding suitable venues that meet sustainability criteria can be a challenge, particularly in regions where eco-friendly options are limited. The focus on sustainability may also restrict certain types of events, such as large-scale gatherings that typically generate higher carbon footprints. Moreover, as stakeholders—including employees, clients, and consumers—demand greater accountability and transparency regarding corporate environmental practices, organizations may face reputational risks if their events are perceived as unsustainable. As a result, the corporate events market must navigate these complexities while striving to balance environmental responsibilities with the demand for engaging and effective business gatherings, ultimately decreasing growth in certain segments of the market.

The increase in infrastructural investment is acting as a significant growth opportunity for the corporate events market, as enhanced infrastructure facilitates better connectivity, accessibility, and amenities for hosting a wide range of events. Governments and private sectors are recognizing the economic potential of the events industry and are investing heavily in upgrading transportation networks, such as airports, roads, and public transit systems, which make it easier for attendees to travel to and from events. Additionally, the development of state-of-the-art venues—such as convention centers, hotels, and event spaces—equipped with modern technology and facilities provides organizations with versatile options for hosting conferences, seminars, and exhibitions. This infrastructural growth not only boosts the capacity to accommodate larger events but also enhances the overall attendee experience through improved services and amenities. Furthermore, cities that invest in infrastructure often create a more vibrant ecosystem, attracting businesses and encouraging tourism, which in turn fosters a favorable environment for corporate events. As more regions around the world enhance their infrastructure to compete in the global corporate events landscape, organizations are presented with diverse opportunities to host events in various locations, tailor their offerings to suit specific audiences, and ultimately drive business growth through more impactful and engaging corporate gatherings. Thus, these corporate event market trends drive corporate event industry during the corporate event market forecast period. 

According to corporate event market analysis, the corporate event market is segmented into event type, industry, platform, event location, and region. By event type, the market is categorized into conferences/seminars, trade shows/exhibitions, incentive programs, company meetings, and others. As per industry, it is divided into financial services, information technology, real estate & infrastructure, automotive, and others. The financial services segment is further categorized into banking and insurance. According to platform, it is fragmented into a physical event, virtual event, and hybrid event. According to event location, it is fragmented into a tier 1 cities, tier 2 cities, and tier 3 cities. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, United Arab Emirates, Chile, and rest of LAMEA).

The major players profiled in the report include 360 Destination Group, Access Destination Services, LLC, BCD Travel Services B.V., BI Worldwide, CWT, Cievents, Creative Group, Inc., ITA Group, Maritz Holdings, Inc., and Reed Exhibitions Ltd.