Saudi Arabia Event Management Market Size
| Study Period | 2019- 2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 595.80 Million |
| Market Size (2028) | USD 941.30 Million |
| CAGR (2023 - 2028) | 9.58 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Event Management Market Analysis
The Saudi Arabia Event Management Industry is expected to grow from USD 595.80 million in 2023 to USD 941.30 million by 2028, at a CAGR of 9.58% during the forecast period (2023-2028).
The Saudi Arabian event management industry grew by a significant level before the COVID-19 outbreak due to the rising number of weddings, festivals, public events, birthday parties, conferences, and fundraising events. However, during the pandemic, the market revenues saw a drastic decline because of lockdowns and restrictions on public gatherings to curb the spread of the virus. However, with the country recovering from the pandemic and the government easing the restrictions, the market is expected to have steady growth during the forecast period.
Saudi Arabia has been working on creating a one-of-a-kind and world-class entertainment hub that includes innovative, cultural, or historical attractions and mega sporting events, which is expected to create more growth opportunities for the country's event management market. Saudi Arabia launched a wide-reaching social and economic initiative, Saudi Vision 2030, with an ambitious goal to develop the economy across industries that include technology, events, healthcare, tourism, education, and finance. The Kingdom of Saudi Arabia is experiencing rapid change in infrastructure, business, and society. As a business events destination, Saudi Arabia has its own characteristics, requirements, and dynamics.
Saudi Arabia Event Management Market Trends
This section covers the major market trends shaping the Saudi Arabia Event Management Market according to our research experts:
Saudi Vision 2030 is Influencing the Growth of the Event Management Industry
As per Vision 2030, the total number of entertainment venues increased from 154 in 2017 to 277 in 2020, which is a remarkable increase and provides various opportunities to host future events. Since Saudi Vision 2030 was adopted in 2016, over 2,000 events have been hosted with over 46 million visitors. This shows that there is a huge appetite and demand for a solid entertainment sector in Saudi Arabia. During October and March 2021, the General Entertainment Authority organized "Riyadh Season 2021," which witnessed 7,500 diversified events, including concerts, exhibitions, and theatrical shows in Arab and foreign languages.
Corporate Sector Events is Expected to Dominate the Market
Saudi Arabia aims to become a powerhouse of meetings and business events. In 2021, the corporate sector acquired 65% of the Saudi Arabian event management market in terms of revenue share due to the rising number of exhibitions, seminars, and product launch events in the country. The country is expected to notice the same trend during the forecast period. The demand for business gatherings and networking events is also driving the corporate event management service market in Saudi Arabia.
Saudi Arabia Event Management Industry Overview
The Saudi Arabian event management market 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
SoundKraft LLC
Global Event Management
Alpha Conferences & Exhibitions
Masaahaat
Addenterprise
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Event Management Market News
- Sept 2022: The Saudi Event Show, which took place from September 19 to 20, brought together the important players of the region’s MICE and entertainment industry. The show saw an attendance of over 2,500 event professionals and 50 exhibitors from across the region, including event organizers, entertainment professionals, marketing, PR, and creative specialists, operations experts, event technology and solution providers, regulators, and other key stakeholders.
- Jul 2022: The Saudi-based ALLGROUP launched its new brand identity. ALLGROUP majorly invests in supply chain management of the entertainment sector and has organized 500 events in Saudi Arabia so far. The company has worked with clients like Aramco, General Entertainment Authority, Public Investment Fund (PIF), and SABB Bank.
Saudi Arabia Event Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the Market
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 OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Saudi Arabia Event Management Industry Segmentation
Events refer to public gatherings at a determined time and place. Event management is the process of planning these events.
Saudi Arabia's Event Management Industry is Segmented by End User (Corporate, Individual, and Public), Type (Music Concerts, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Other Types), and Revenue Source (Ticket Sales, Sponsorship, and Other Revenue Sources). The market sizes and forecasts for the above segments are provided in value terms.
| 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 Market?
The Saudi Arabia Event Management Market size is expected to reach USD 595.80 million in 2023 and grow at a CAGR of 9.58% to reach USD 941.30 million by 2028.
What is the current Saudi Arabia Event Management Market size?
In 2023, the Saudi Arabia Event Management Market size is expected to reach USD 595.80 million.
Who are the key players in Saudi Arabia Event Management Market?
SoundKraft LLC, Global Event Management, Alpha Conferences & Exhibitions, Masaahaat and Addenterprise are the major companies operating in the Saudi Arabia Event Management Market.
Saudi Arabia Event Management Industry Industry Report
Statistics for the 2023 Saudi Arabia Event Management Industry market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Event Management Industry analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
