event logistics market was valued at US$ 58.3 billion in 2021 and it is anticipated to grow up to US$ 81.2 billion by 2031, at a CAGR of 3.3% during the forecast period.
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Event logistics involve delivering, controlling, and planning the physical flow of goods. To meet customers’ requirements, accurate information is to be shared by the respective department about the events that have been held. Contracting firms are specialized in handling functions such as storage, warehousing, freight, and storage. The event logistics market consists of several types of events, including entertainment, sports, trade fairs, and other events, including cultural festivals, business conferences, and government-sponsored events.
Further, event organizers provide their clients with event logistics such as storage, event registration, and venue selection. Event logistics services aim to design an event with an efficient method of organizing and controlling all of the individuals participating and the resources required for the event.
Market Drivers and Trends
With the growing industries worldwide, the events are also increasing daily. To organize daily events, event organizers need faster transport systems, such as on-time delivery or just-in-time delivery, to deliver goods quickly. Thus, the air freight services will help faster goods transportation with more safety. With the increasing demand for quick delivery, express shipping is trending nowadays. The express shipping option of air freight makes it valuable for coordinating time-sensitive shipments globally. Small and mid-sized companies benefit from air freight as it allows them to participate in trade shows expeditiously and effectively. Third-party logistics can determine the most reliable and cost-effective means of using air freight options to transport deliveries.
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Further, due to the COVID-19 pandemic, there are travel restrictions across the globe. Hence, many airlines are converting their passenger aircraft into air cargo shipping aircraft. Thus, the demand for air freight services will also be high. Therefore, with the high preference for air freight services to other transportation modes, including road and sea, the demand for air freight services will be higher.
Major Players in the Global Event Logistics Market
The key players studied in the global event logistics market are AFP Global Logistics (US), CEVA Logistics (France), Charles Kendall Group (UK), DHL International GmbH (Germany), FedEx Corporation (US), GEODIS (France), Kuehne + Nagel Management AG (Switzerland), Rhenus Group (Germany), Schenker AG (Germany), and XPO Logistics, Inc. (France).
COVID-19 Impact
In 2020, the onset of the COVID-19 pandemic and the lockdown resulted in the progression of online purchasing off balance, owing to restrictions on eligible items and limitations placed on physical movement, thereby directly impacting deliveries. Only essentials and medical supplies are being made available. In addition, people are not inclined to spend money beyond their necessities, which offers challenges and opportunities. Due to the COVID-19 pandemic, the e-commerce business faces new challenges in customer behavior, supply chain issues, and economic outlook. The COVID-19 pandemic shifted how consumers behave and carry out their activities, directly affecting the e-commerce industry. Limiting shopping, except for essentials, is becoming a new normal. This results in brands adapting and being flexible to meet changing needs. Hence, in 2020, the COVID-19 pandemic negatively impacted the global event logistics market.
Global Event Logistics Market Segmentation
By Type
- Inventory Management
- Delivery Systems
- Freight Forwarding
- Others
By Application
- Entertainment and Media
- Sports
- Corporate Events and Trade Fair
- Others
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