Event Logistics Market by Type and Geography - Forecast and Analysis 2020-2024

The event logistics market share is expected to increase by USD 12.55 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 4.7%.

This event logistics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers event logistics market segmentations by type (entertainment, sports, trade fair, and others) and geography (APAC, Europe, North America, MEA, and South America). The event logistics market report also offers information on several market vendors, including Agility Public Warehousing Co KSCP, CEVA Logistics AG, C.H. Robinson Worldwide Inc., DB Schenker, Deutsche Post AG, DFDS AS, DSV Panalpina AS, FedEx Corp., Kuehne + Nagel International AG, and XPO Logistics Inc. among others.

What will the Event Logistics Market Size be During the Forecast Period?

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Event Logistics Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The cost reduction through event logistics service provider s is notably driving the event logistics market growth, although factors such as high cost of operation and competitive pricing may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the event logistics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Event Logistics Market Driver

The cost reduction through event logistics service providers is one of the key factors driving the growth of the global event logistics market. Infrastructure building for logistics is a capital-extensive process, and there is long-term investment blockage. Therefore, logistics services are outsourced by various organizers of events and event management companies to decrease operational costs. Outsourcing supply chain and other logistics-related services of their operations to event logistics service provider vendors allow entertainment events, trade fairs, and other event organizers to improve their business efficiency by focusing on their core competencies. In addition, organizers of events achieve high savings by avoiding expenses related to transportation, warehousing, and installation of different event equipment, such as decorations on high ceilings; special lifts; hand trucks for transporting chairs, tables, and other supplies to areas within the event; and audio-video equipment. Event logistics service providers also offer value-added services (VAS) to the supply chain management needs of organizers of events by customizing services as per their requirements. Hence, organizers can partly outsource the logistics needs and carry out the remaining in-house functions.

Key Event Logistics Market Trend

The technological advancement in event logistics will fuel the global event logistics market growth. Nowadays vendors in the market are using customer relationship management (CRM) solutions, which are cloud-based, to enhance the shipper-vendor relationship by providing more visibility in the supply chain process, thus reducing complexity in supply chain management (SCM). Solutions, such as event management software with integrated CRM, transportation management system (TMS), and programs in portfolio management, allow vendors to modify their internal processes to keep pace with investor and customer requirements. Moreover, telematic services in trucks provide real-time information about the condition of the vehicle, traffic, loading capacity, and the condition of cargo in the trucks. The implementation of telematics offers benefits such as shorter standby times, less wear on the vehicle, monitoring of the vital status of the driver, fewer accidents, optimized routing, and an increase in capacity utilization. Some automobile OEMs are also implementing telematics systems that transmit data about the vehicle's location and the progress through the finished vehicle supply chain. Such factors will increase the market in focus during the forecast period.

Key Event Logistics Market Challenge

The high cost of operation and competitive pricing is a major challenges for the global event logistics market growth. With the increase in demand for value-added services (VAS) and specialized professional supply chain solutions in the event logistics market, the industry is becoming highly competitive in terms of the pricing of services. Vendors in the global event logistics market are under continuous pressure from customers to keep their prices low. Due to the instability of fuel prices, profits from fixed-term contracts with customers have been reduced. Customers are demanding lower rates while renewing contracts. Additional services are demanded by event organizers at the same price; thus, companies are facing much pressure in pricing their services. The industry is characterized by its capital-intensive nature. The market requires a capital-intensive infrastructure in terms of a large fleet of vehicles and containers at ports, technology-equipped warehouses specialized in storing different kinds of products used in events, and skilled manpower. These types of logistics service providers must control their operational costs to compete in the market. Thus, small-sized event logistics companies that generate low revenue from their business operations break even because of high operating costs.

This event logistics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

The global event logistics market is a part of the global air freight and logistics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the event logistics market during the forecast period.

Who are the Major Event Logistics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Agility Public Warehousing Co KSCP
• CEVA Logistics AG
• C.H. Robinson Worldwide Inc.
• DB Schenker
• Deutsche Post AG
• DFDS AS
• DSV Panalpina AS
• FedEx Corp.
• Kuehne + Nagel International AG
• XPO Logistics Inc.

This statistical study of the event logistics market encompasses successful business strategies deployed by the key vendors. The event logistics market is fragmented and the vendors are deploying growth strategies such as performance, innovation, delivery speed, quality, price, supply chain capacity, and reliability to compete in the market.

Product Insights and News

• Agility Public Warehousing Company KSCP- The company offers customs clearance, storage and transport, event insurance, unpacking, positioning and installation in events business logistics

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The event logistics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Event Logistics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the event logistics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global air freight and logistics market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Event Logistics Market?

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45% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the event logistics market in North America. Market growth in this region will be faster than the growth of the market in regions.

The cost reduction through event logistics service providers will facilitate the event logistics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The pandemic led many government organizations in the region to impose a total lockdown to contain the spread of the disease. This resulted in travel restrictions, which significantly impacted supply chains and the logistics industry in the region. This hindered the growth of the event logistics market in the region. Moreover, the cancellation and postponement of events from industries, such as entertainment, trade fair, and sports, due to the COVID-19 pandemic hampered the growth of the market in the region in 2020. However, the rise in vaccination drives and medicines resulted in the decline in the number of COVID-19 cases, which led to the removal of lockdown restrictions. Hence, this will result in the slow recovery of the market in the region during the forecast period.

What are the Revenue-generating Type Segments in the Event Logistics Market?

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The event logistics market share growth by the entertainment segment will be significant during the forecast period. Owing to the growing demand for live concerts and film promotion events, the demand for event logistics services supporting in organizing entertainment events is increasing. These factors will drive the demand for the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the event logistics market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Event Logistics Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive event logistics market growth during the next five years
• Precise estimation of the event logistics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the event logistics industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of event logistics market vendors

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