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The corporate entertainment market size is estimated to grow at a CAGR of 4.95% between 2022 and 2027. The market size is forecast to increase by USD 47.72 billion. The growth of the market depends on several factors growing popularity of interactive videos, the increasing reach of social media, and growing employee engagement among corporates.
This corporate entertainment market report extensively covers market segmentation by type (conventions, retreats, office parties, and others), application (25-55 years, under 25 years, and over 55 years), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Corporate Entertainment Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Blue Moon Talent: the company offers corporate entertainment services such as dance party bands, and tribute bands.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The convection segment is estimated to witness significant growth during the forecast period. The preferred choice among corporate entertainment organizers is conventions, these events help professionals interact and network with other market players. The conventions support professional enhancement as the attendees can benefit from skill development sessions and motivational programs.
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The conventions segment was the largest segment and was valued at USD 51.46 billion in 2017. To target a large audience and provide them with relevant information, companies organize conventions. Seminars are usually short, as these are talking sessions by one or two speakers. Conferences organized during a convention invite speakers who deliver talks on a variety of subjects. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The corporate entertainment market in North America is mature. Factors such as a large target audience and high budgets help companies in the region to introduce many recreational activities for their workers. Corporate entertainment events are the main part of employee welfare in North America. These events vary from live performances to interactive recreational activities. Many MNCs in the region are rising their focus on expanding their geographical presence, due to the rapid demand for corporate entertainment solutions. Furthermore, the expansion of organizations' business operations to emerging economies generates the need to rise employee strength. These companies want to retain the current employees as well as attract new ones. Hence, these factors will drive the growth of the corporate entertainment market in North America during the forecast period.
The market for corporate entertainment was negatively affected by the outbreak of COVID-19 in 2020. However, due to the initiation of large-scale vaccination drives and the lifting of lockdown norms, corporate offices reopen with normal working routines. Many companies in the region organized entertainment events to bring back employees to offices in 2021. In addition, as companies in North America are expanding, the demand for corporate entertainment is likely to expand during the forecast period. This is expected to drive the growth of the regional corporate entertainment market during the forecast period.
The corporate entertainment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Corporate Entertainment Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.95% |
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Market growth 2023-2027 |
USD 47.72 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.44 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alive Network Ltd., All American Entertainment, Bassett Events Inc., Blue Moon Talent, Booking Entertainment, Contraband Entertainment, Corporate Entertainment Agency, DCM Event Management, DNA Entertainment Networks Pvt. Ltd., Entertainers Worldwide Ltd., Eventive Marketing Inc., Funny Business Agency, Green Light Booking, Incognito Artists Ltd., Live Entertainment UK, Quintessentially UK Ltd., Scarlett Entertainment and Management Ltd., The Events Co., Top Dog Entertainment, Texas Sounds Entertainment LLC, and Rafanelli Events |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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