KEMA Predicts: Event Management Industry in India to be a 10 trillion-dollar Industry by 2030
by EVENTFAQS Bureau Industry Watch | September 26, 2023 | News
Event Management Industry Karnataka Event Management Association
The Karnataka Event Management Association (KEMA), on account of its General body meeting, organized the Event Manager’s Meet up at Sheraton Grand Bengaluru Whitefield, the biggest convention center in Whitefield this time.
Highlight of the event was panel discussion which had big names of the Event Management Industry discuss and share experiences and best practices of ‘Big fat Ideas for big Fat Events’. The Panel Discussion had big names of the Event Management Industry like Ashok Udupa, Jagdeesh Patankar, DJ Ivan, Sagar Pingli, Krishna Mariyanka, Martin Emmanuel and Sanjay Gupta, very well moderated by Riaz Pasha. The panel discussion forecasted that the Event Management Industry has the capacity of growing upto 10 trillion dollars by 2030.
The outcome of the panel discussion was that it could be possible if national and regional associations and Industry bodies, like Indian Industry Exhibition Association, EEMA, should all come together to make it happen, which is the forecast even if it grows at a moderate rate. The Industry is facing lot of internal issues like Venue Issue, regulatory issues, taxation issues etc. It's Challenges of working in multiple levels, like central govt. state govt. corporations and others key stake holders The event management companies are catalysts to make the growth happen.
Getting international events will play a big role in the growth of Event Management companies. Event Management Industry is at 3.75 trillion dollars, and looks to become 7.6 by 2030 as the industry body suggests. According to mordor intelligence report, The India Event and Exhibition Market size is expected to grow from USD 4.75 billion in 2023 to USD 8.71 billion by 2028, at a CAGR of 12.90% during the forecast period (2023-2028).
Arvind Jyot Sabhaney, President, KEMA said, “The growth and success in the dynamic event management industry needs innovative and forward-thinking ideas. We as KEMA members ensure that every member gets insights and ideas and best practices shared to grow as a family, thus enhancing the reach and capacity to grow. We at KEMA are working towards customer delight and making collaborations with Event management industries and all associates to deliver an everlasting experience. The Clients and Corporates depend on us to make their celebrations, landmark events and memories for a lifetime. We at KEMA are committed to ensure that the best is delivered.”
Vincent Samuel, who has more than 2 decades of experience in organizing Live events talked about Developing comprehensive health and safety protocols to address post-pandemic concerns in the Event Management Industry. He also stated, “A Live event is a gathering of Lives in an event. Designing a show with Health and safety as the prime importance ensures the purpose of the show is met without any untoward incidents, especially when there are large gatherings. When events are planned, creating structures and demographies of audience will be of prime importance and then, the first thing which needs to be planned is the health and safety.”
Getting international events will play a big role in the growth of Event Management companies, Event Management Industry is at 3.75 trillion dollars, and looks to become 7.6 by 2030.