20+ Compelling Event Industry Statistics [2023]: How Events Improve Marketing

Research Summary: From marketers to organizers, there are a plethora of people who can benefit from events. And while the COVID-19 Pandemic has certainly impacted event organization and attendance, they may just be making a comeback.

But, what are some of the key benefits of events? Luckily, we’ve investigated all of the essential facts about the event industry, and according to our extensive research:

• 41% of marketers believe event marketing is the most crucial channel.

• 97% of media marketers say in-person events are crucial.

• 71% of event marketers plan to continue investing in virtual events.

• The global event industry was worth $890 billion as of 2020.

• The global event industry is expected to experience a CAGR of 13.48% through 2028.

For further analysis, we broke down the data in the following ways:
Marketers | Event Organizers | Trends and Projections | Benefits of Events | U.S. Event | Event-Goers

Key Event Industry Statistics for Marketers

Events are a great way for marketers to connect network with other businesses and connect with their customers. To find out more about the importance of events for marketers, we’ve gathered all of the most valuable facts and statistics:

• On average, 9.4% of the CMO marketing budget goes to live events.

  As with anything, this can vary significantly. For example, 13% of global businesses only spend between 1-5% of their budget on events, whereas 10% of businesses spend over 50% of their budget on them.

• In 2022, 63% of marketers plan to spend more on live events in the future.

  While virtual events were standard in 2020, marketers are beginning to shift their spending back toward live events. For example, as of 2022, only 40% of marketers plan to increase spending on virtual events, and 16% actually plan to decrease spending in favor of live events.

• 75% of marketers say email is their most effective promoting strategy.

  And there’s a reason why, as up to 45% of event ticket sales come directly from those emails. That means you can rely on email to deliver almost half of your attendees.

• 87% of marketers use email marketing for event promotion.

  Email marketing is the second most popular method of promotion for events, just behind social media at 89%. Indeed, most marketers employ both methods when promoting events.

  Marketing tool	% of marketers who say it’s effective
  Social media	73.5%
  Email marketing	65.5%
  Website	59.6%
  Registration site	25.5%
  Printed media	21.8%
  Influencer marketing	18.2%
  Experiential marketing	14.0%
  Video	13.5%
  Press releases	11.9%
  Live streaming	6.0%
  Blogging	5.5%
  Remarketing	5.1%
  Podcasts	1.4%

Key Event Industry Statistics for Event Organizers

Events can’t be successful without effective event organizers. From planning the structure of the event to ensuring attendee satisfaction, here are some important stats about event organizers:

• 48% of event planners start planning six to 12 months before the event.

• During the COVID-19 Pandemic, 73% of event planners successfully transitioned to all virtual events.

• 65% of event organizers plan to continue using hybrid events as their go-to format after in-person events become normal again.

• 84% of event planners use attendee satisfaction as a KPI.

• 82% of event planners use attendee engagement as a KPI.

Event Industry Trends and Projections

The in-person event industry took a big hit in 2020, but these events may begin to regain popularity in the coming years. For instance, our research shows that:

• 64% of event professionals say meeting spending increased in 2022.

  Likely due to the new prevalence of software and other technologies, many professionals have been spending more and more on events. In fact, 41.5% are now willing to pay up to $5,000 for new virtual event technology.

• As of 2022, the U.S. event industry market size is just under $3.2 billion.

  While the industry saw a market size decline of -9.8% per year from 2017-2022, due to the COVID-19 pandemic, as of 2022, the industry has seen a net growth of 4%.

  Year	Market size (in billions)
  2012	$3.9 B
  2013	$4.2 B
  2014	$4.4 B
  2015	$4.7 B
  2016	$4.9 B
  2017	$5.3 B
  2018	$3.9 B
  2019	$4.0 B
  2020	$2.9 B
  2021	$3.0 B
  2022	$3.1 B

• The global event industry is expected to experience a CAGR of 13.48% through 2028.

  As of 2020, the industry was worth $890 billion, but that number is expected to jump to a whopping $2.19 trillion in 2028.

Event Industry Statistics by Benefits of Events

Marketers, planners, and other professionals choose to have events because of all the benefits that come with them. From increased sales to improved engagement, here are some examples:

• 60% of business leaders believe that events are critical for company success.

  While 80% of company marketers also say the same. This is significant, given that there are so many other tactics and tools these companies and marketers can employ.

• 79% of marketers generate sales through events.

  Additionally, 85% of these marketers also agree that events lead to an increase in lead generation and sales. Therefore, events not only generate sales but also have the potential to generate more sales over time.

• 64% of companies say brand awareness is their primary reason for hosting events.

  Events are a great way to spread brand awareness, in-person or virtually. In fact, 19% of companies that host virtual events also aim to increase their brand awareness.

• 83% of brands report increased sales from event marketing.

  And there’s a reason why, as up to 74% of event attendees agree that their opinion of the company/brand improved after attending.

U.S. Event Industry Statistics

Events are popular around the world but especially useful for companies in the U.S. To understand the U.S. event industry, here are some telling facts and statistics:

• There are at least 255 major convention centers in the U.S.

  Altogether, these convention centers cover a massive 75 million square feet. Every state has a convention center, but California has the most convention centers at 22 total.

• Up to 40 million Americans attend business events each year.

  This can include anything from conventions to trade shows to conferences. In fact, this number means that just over 12% of all Americans attend events each year.

Event Industry Statistics by Event-Goers

There’d be no point in holding events if there weren’t any event-goers. These individuals help companies target their efforts to increase sales and brand awareness. According to our research:

• 76% of all event attendees go for networking purposes.

  Events are a crucial way for marketers and attendees alike to create high-quality leads and partners. For example, 89% of professionals agree that face-to-face interaction is the best way to close business deals.

• The average in-person event is 47.8% more expensive than the average virtual event.

  While 80% of virtual events are actually free, the average paid virtual event costs $443 to attend. On the other hand, the average in-person event costs roughly $655 to attend.

Event Industry Statistics FAQ

1. How big is the event industry?

   The event industry is worth $890 billion globally and $3.2 billion in the U.S. While this might seem like a lot, it’s actually a marked decrease from pre-Covid times. For instance, in 2017, the U.S. event industry was worth $5.3 billion (65% higher than 2022).

   However, the event industry is slowly starting to recover, and live events are once again becoming more common.

2. What are trends in the event industry?

   As of 2022, the biggest trend in the event industry is renewed growth. After seeing a steep decline in value between 2017-2020, the industry has slowly started to recover. In 2022, the U.S. event industry saw a healthy 4% growth, increasing in value from $3.0 billion in 2021 to $3.1 billion in 2022.

   Additionally, the COVID-19 pandemic has sparked new interest in hybrid events, as opposed to simply preferring in-person or virtual ones. In fact, 65% of event organizers plan to continue using hybrid events as their go-to format after in-person events become normal again.

3. Is event planning a growing industry?

   Yes, event planning is a growing industry. By 2028, the global event planning industry is expected to have a CAGR of 11.2%. Event management software alone is expected to reach $16.11 billion in value by the same year.

   This coincides with the large growth expected in the overall event industry as well, which is expected to experience a CAGR of 13.48% through 2028 and jump to a whopping $2.19 trillion market size.

4. How many people are employed by the events industry?

   The U.S. event industry employs at least one million people. This includes at least 77,000 planners for trade shows and conferences and many more marketers and freelancers.

   While numbers for the number of self-employed freelancers in the industry are unclear, this group makes up by far the largest number of workers.

   Additionally, it seems the number of jobs available in the industry will continue to increase, as job growth for event planners is projected to be 11% through 2026.

Conclusion

Events are a crucial way for marketers, event planners, and attendees to network. In fact, 76% of all event attendees go for networking purposes.

But that isn’t the only benefit of events, as 79% of marketers also see sales through events, and 85% agree that events cause sales to increase. This can partially be attributed to brand awareness, which is increased greatly by events.

Overall, it’s clear that events benefit all parties involved, making them a highly effective marketing and networking tool. And as the industry continues to embrace hybridization, we can expect to see even more events in the future.

References

1. KoMarketing. “41% of Marketers Now Believe Events are the Most Critical Marketing Channel.” Accessed on July 18th, 2022.

2. Statista. “Market value of the event industry worldwide in 2020, with a forecast for 2028.” Accessed on July 18th, 2022.

3. Statista. “Share of marketing budgets spent on event marketing according to businesses worldwide as of March 2018.” Accessed on July 18th, 2022.

4. Floor. “That’s a Wrap! Events Industry 2021 Trends & Statistics.” Accessed on July 18th, 2022.

5. Vimeo Blog. “The best hybrid event examples of 2022.” Accessed on July 18th, 2022.

6. Convene. “7 KPIs For First Time Event Planners.” Accessed on July 18th, 2022.

7. IBISWorld. “Party & Event Planners in the US – Market Size 2005–2027.” Accessed on July 18th, 2022.

8. PRN. “Events Industry Market size worth $ 2,194.40 Billion, Globally, by 2028 at 13.48% CAGR: Verified Market Research.” Accessed on July 18th, 2022.

9. PR Daily. “Report: 85 percent of marketers say events are crucial to their strategies.” Accessed on July 18th, 2022.

10. Statista. “Leading convention centers in the United States as of 2021, by exhibition space.” Accessed on July 18th, 2022.

11. Brella. “3 reasons why creating networking opportunities is definitely worth it.” Accessed on July 18th, 2022.

Author

Jack Flynn

Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.