Table of Contents
Executive Summary
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- Impact of COVID-19 on conferencing and events
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- Figure 1: Expected impact of COVID-19 on conferencing and events, short, medium and long term, 10 August 2020
- The market
- Market size and forecast
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- Figure 2: UK conferencing and events market value and forecast, 2016-25 (£ billion)
- Market segmentation
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- Figure 3: Business* events segment forecast, 2021-25 (£ billion)
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- Figure 4: Leisure events segment forecast, 2021-25 (£ billion)
- COVID-19 will usher in a digital revolution
- Companies and brands
- Digital tech crucial for enhancing and driving a shift towards virtual conferencing
- Event organisers are keen to prove the value of events, virtualised or not
COVID-19 and Conferencing and Events
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- Impact on the market
- Lockdown and ongoing social distancing to drive record fall in market value
- Budget-conscious businesses will welcome digital alternatives
- Refunding may compound cashflow pressures triggered by lockdown
- Consumer confidence will be a major barrier to restoring attendance
- Impact on companies and brands
- Digital innovation is key to demonstrating the value of virtual events
- Virtual conferences positioned as a pre-recovery necessity
Issues and Insights
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- COVID-19 will drive the uptake of digital conferencing and events solutions
- Digital innovation is necessary to deliver the sector’s value of social interaction
The Market – Key Takeaways
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- Conferencing and events market set to plummet in 2020
- Immediate future is uncertain, but the market retains its potential
- Trials and new guidelines lead the sector’s scheduled October return
Market Size
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- Closure of venues, social distancing and changing consumer behaviour to serve as major barriers to activity and growth
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- Figure 5: Expected impact of COVID-19 on conferencing and events, short, medium and long term, 10 August 2020
- COVID-19 leads to collapse in market value as activity is cancelled or postponed
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- Figure 6: UK conferencing and events market value, 2016-20 (£ billion)
Market Segmentation
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- Business events will be the major driver to fall in market value but have the greatest potential for digital adaptation
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- Figure 7: Conferences and events market segmentation, 2020 (£ billion)
- Conferences and meetings
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- Figure 8: Conferences and meetings market value, 2016-20 (£ billion)
- Exhibitions and trade fairs
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- Figure 9: Exhibitions and trade fairs market value, 2016-20 (£ billion)
- Sports events
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- Figure 10: Sports events market value, 2016-20 (£ billion)
- Music events
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- Figure 11: Music events market value, 2016-20 (£ billion)
- Incentive travel and performance improvement
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- Figure 12: Incentive travel and performance improvement market value, 2016-20 (£ billion)
- Corporate hospitality and corporate events
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- Figure 13: Corporate hospitality and corporate events market value, 2016-20 (£ billion)
- Outdoor events
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- Figure 14: Outdoor events market value, 2016-20 (£ billion)
- Festivals and cultural events
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- Figure 15: Festival and cultural events market value, 2016-20 (£ billion)
Market Forecast
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- Structural transformation to limit the extent of the recovery as events go virtual
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- Figure 16: UK conferencing and events market forecast, 2021-25 (£ billion)
- Digital sales will become a crucial source of revenue for business events
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- Figure 17: Business* events segment forecast, 2021-25 (£ billion)
- Leisure events recovery reliant on consumer confidence
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- Figure 18: Leisure events segment forecast, 2021-25 (£ billion)
Market Trends
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- The digital future of conferencing and events
- Shifts to virtual are far from universal
Market Drivers
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- Costs of refunds and supplier obligations pose a threat to the sector’s financial stability
- Structural shifts towards digital will also benefit consumer confidence
- Reopening prospects
- A case study of post-COVID conferencing: MBC Construction Expo
Companies and Brands – Key Takeaways
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- Virtual conferences serve as build-up rescheduled events
- Digital tech is key to enhancing the “attend-at-home” experience
Industry Structure
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- Changes in the structure of the industry
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- Figure 19: Analysis of the changes in the structure of the conferencing and events industry, 2014-19 (number of outlets and businesses)
- Structure by employment
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- Figure 20: Analysis of the employment structure of the conferencing and events industry, 2018 and 2019 (number of businesses)
- Structure by turnover
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- Figure 21: Analysis of the financial structure of the conferencing and events industry, by turnover, 2018 and 2019 (£000 and number of businesses)
Company Profiles
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- DMG Events (UK)
- Recent company activity
- Response to COVID-19
- Financial information
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- Figure 22: Financial analysis of DMG Events (UK), 2014-18 (£ million)
- Hyve Group Plc
- Recent company activity
- Response to COVID-19
- Financial information
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- Figure 23: Financial analysis of Hyve Group Plc, 2015-19 (£ million)
- Reed Exhibitions Ltd
- Recent company activity
- Response to COVID-19
- Financial information
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- Figure 26: Financial analysis of Reed Exhibitions Ltd, 2014-18 (£ million)
- Smyle Creative Group Ltd
- Recent company activity
- Response to COVID-19
- Financial information
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- Figure 24: Financial analysis of Smyle Creative Group Ltd, 2015-19 (£000)
- Scottish Event Campus Ltd
- Recent company activity
- Response to COVID-19
- Financial information
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- Figure 28: Financial analysis of Scottish Event Campus Ltd, 2015-19 (£000)
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
Further Sources and Contacts
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- Trade associations
- Trade magazines
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