Saudi Arabia Event Management Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.38 Billion |
| Market Size (2029) | USD 3.45 Billion |
| CAGR (2024 - 2029) | 9.74 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Saudi Arabia Event Management Market Analysis
The Saudi Arabia Event Management Industry is expected to grow from USD 2.38 billion in 2024 to USD 3.45 billion by 2029, at a CAGR of 9.74% during the forecast period (2024-2029).
Events are public gatherings that unite people at a specific time and place. These gatherings serve various purposes, such as boosting business profitability, celebrating special occasions, providing entertainment, and supporting community causes. Significant events encompass conferences, exhibitions, corporate seminars, promotional and fundraising events, music and art performances, sports events, festivals, trade shows, and product launches. The key players in the events industry are corporate organizations, public organizations, and non-governmental organizations (NGOs).
To succeed in this field, event managers must possess creativity and flexibility, as they often have to adapt to changing circumstances and meet client demands. They combine project management principles with creative thinking to ensure that events achieve their objectives, whether promoting a brand, raising funds, or celebrating a milestone.
The demand for event management services in Saudi Arabia is rising owing to the increasing focus on sustainable and ethical event practices. Saudi Arabian event management services offer a wide range of efficient and impactful solutions, catering to a diverse audience and supporting market growth. The industry is also investing in research and development of new event technologies and improving logistical strategies to deliver seamless experiences.
Furthermore, the demand for private events, such as weddings, birthdays, and social gatherings, is being driven increased personal income and evolving lifestyles among the population in Saudi Arabia. Favorable policies promoting sustainable event practices and local tourism are encouraging the adoption of advanced event management techniques in Saudi Arabia. Additionally, the economic development in Saudi Arabia is fueling the need for high-quality and diverse event experiences, further boosting the event management market.
Saudi Arabia Event Management Market Trends
The Market is Influenced by Major International Events Being Held in Saudi Arabia
Saudi Arabia has become a prominent global center for international events and exhibitions, showcasing its rich cultural heritage and rapid economic growth. Events such as Expo 2030 and World Cup 2034 would be significant milestones in the country. Four special economic zones (SEZs) were also established to attract foreign investors. The International Saudi Halal Expo held in Riyadh highlighted advancements in the Halal economy. The Thailand Mega Fair, which took place in Riyadh, featured various industries. Saudi Arabia is increasingly becoming a key destination for global events in technology, defense, luxury, and health, demonstrating its significant presence on the world stage and dedication to innovation. The growing number of events across different industries in Saudi Arabia is expected to boost market growth in the years ahead.
Integration of Advanced Technologies with the Event Management Industry
The event planning industry has undergone significant changes in recent years, mainly fueled by integrating advanced technologies like VR, AR, and event management software. Utilizing spreadsheets and manual procedures to coordinate events is a thing of the past. Event management software has completely revolutionized the way events are planned, executed, and monitored. These platforms streamline the entire event lifecycle, from registration and ticketing to attendee management and data analytics. The event management landscape is rapidly evolving, driven by technology and the changing expectations of attendees. However, it is Artificial Intelligence (AI) that truly stands out as the technology that has revolutionized the industry. AI has emerged as a powerful tool capable of simplifying processes, enhancing customization, and optimizing resource allocation. Its remarkable capabilities have introduced groundbreaking solutions that completely transform the event planning and execution process while also enhancing attendee engagement. For example, SenseTime offered guests an engaging and interactive experience across 5 zones - Boulevard City, Combat Field, Winter Wonderland, Safari, and Riyadh Front using AI + AR technologies, enabling guests to immerse themselves in vibrant AR environments that blend the digital and real worlds. Therefore, the integration of advanced technologies with the event management industry will greatly contribute to the growth of the market in Saudi Arabia.
Saudi Arabia Event Management Industry Overview
The Saudi Arabian event management industry is fragmented in nature. It has a considerable presence of regional and local players. The report covers major international players operating in the market. In terms of market share, some of the major players currently dominate the market, including SoundKraft LLC, Global Event Management, Alpha Conferences & Exhibitions, Masaahaat, and Addenterprise.
Saudi Arabia Event Management Market Leaders
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SoundKraft LLC
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Global Event Management
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Alpha Conferences & Exhibitions
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Masaahaat
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Addenterprise
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Event Management Market News
- January 2024 - dmg events, an international exhibition organizer, is preparing to introduce two upcoming events in Saudi Arabia: the Saudi Sports and Leisure Facilities (SSLF) Expo and Sports Build Show.
- December 2023 - Comma, a leading public relations and event management agency in Saudi Arabia, entered into a strategic partnership agreement with ALTER, an influential communications agency based in the United Kingdom known for its creativity and innovation. Comma will handle ALTER's operations in Saudi Arabia and work together on managing events in the country.
Saudi Arabia Event Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Number of Events and Conference in the Country
4.2.2 Raise in Disposable Income and Lifestyle
4.3 Market Restraints
4.3.1 Budget Constraints and Seasonality
4.3.2 Regulatory Hurdles and Economic Fluctuations
4.4 Market Opportunities
4.4.1 Advancement in Technology
4.4.2 Toursim Promotion and Infrastructure Development
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
5. MARKET SEGMENTATION
5.1 By End User
5.1.1 Corporate
5.1.2 Individual
5.1.3 Public
5.2 By Type
5.2.1 Music Concert
5.2.2 Festivals
5.2.3 Sports
5.2.4 Exhibitions and Conferences
5.2.5 Corporate Events and Seminars
5.2.6 Other Types
5.3 By Revenue Source
5.3.1 Ticket Sale
5.3.2 Sponsorship
5.3.3 Other Revenue Sources
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 SoundKraft LLC
6.2.2 Global Event Management
6.2.3 Alpha Conferences & Exhibitions
6.2.4 Masaahaat
6.2.5 Addenterprise
6.2.6 SELA
6.2.7 Luxury KSA
6.2.8 Heights
6.2.9 Benchmark Events
6.2.10 Riyadh Exhibitions Company Ltd
6.2.11 Markable General Trading LLC
6.2.12 KonozRetaj *
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Saudi Arabia Event Management Industry Segmentation
Public gatherings scheduled at specific times and locations are known as events. The organization of these events is referred to as event management. This report aims to provide a detailed analysis of the Saudi Arabian event management industry. The report examines market dynamics, technological developments, and insights into different types of products and use cases. In addition, it analyses the main players in the Saudi Arabian event management industry and their competitive landscape.
The Saudi Arabian event management industry is segmented by end user, type, and revenue source. By end user, the market is segmented as corporate, individual, and public. By type, the market is segmented as music concerts, festivals, sports, exhibitions and conferences, corporate events and seminars, and other types. By revenue source, the market is segmented as ticket sales, sponsorship, and other revenue sources (advertising, catering, food and beverages, marketing, VIP, and subscriptions). The market size and forecasts are provided in terms of value (USD) for all the above segments.
| By End User | |
| Corporate | |
| Individual | |
| Public |
| By Type | |
| Music Concert | |
| Festivals | |
| Sports | |
| Exhibitions and Conferences | |
| Corporate Events and Seminars | |
| Other Types |
| By Revenue Source | |
| Ticket Sale | |
| Sponsorship | |
| Other Revenue Sources |
Saudi Arabia Event Management Market Research FAQs
How big is the Saudi Arabia Event Management Industry?
The Saudi Arabia Event Management Industry size is expected to reach USD 2.38 billion in 2024 and grow at a CAGR of 9.74% to reach USD 3.45 billion by 2029.
What is the current Saudi Arabia Event Management Industry size?
In 2024, the Saudi Arabia Event Management Industry size is expected to reach USD 2.38 billion.
Who are the key players in Saudi Arabia Event Management Industry?
SoundKraft LLC, Global Event Management, Alpha Conferences & Exhibitions, Masaahaat and Addenterprise are the major companies operating in the Saudi Arabia Event Management Industry.
What years does this Saudi Arabia Event Management Industry cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Event Management Industry size was estimated at USD 2.15 billion. The report covers the Saudi Arabia Event Management Industry historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Event Management Industry size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Saudi Arabia Event Management Industry Industry Report
Statistics for the 2024 Saudi Arabia Event Management market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Saudi Arabia Event Management analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
