Category Intelligence on Meetings & Events covers the following
North America and Europe are highly mature markets, contributing to three fourths of M&E revenue. Supplier capabilities to serve complex client requirements in these regions are high. The APAC M&E market has a relatively smaller event industry market size, but is growing at a Compound Annual Growth rate (CAGR) of 8–9percent
Event market research indicates that Economic development, government investment and technology are the key drivers of the M&E industry. Regulations and sustainability are the major challenges hampering the industry
The meetings and events industry trends with regards to supply are:
The global suppliers provide a wide array of services, due to their vast resources of employees and contracts made with other companies that aid in organizing meetings, like hotel chains, venue providers and travel agencies. Network: Most of them also operate through partnerships and joint ventures in many countries, where they do not have a direct presence.
Types of Suppliers:
End-to-end suppliers: This segment includes end-to-end event management firms, such as Grassroots, MCI, Amex, CWT, BCD
Standalone suppliers: Standalone Suppliers specialize in providing specific services related to event management, like George P Johnson, PRG, Encore event technologies, PSA
Engagement: Typically, companies engage with a local supplier when the complete event is organized within the country.
Service capabilities: As local suppliers have limited resources, their service capabilities are not as extensive as global players’.
Superior knowledge: They do have superior knowledge about the local culture and suppliers, and they can bring a local flavor to the events and also can get reduced rates through better local relationships
Most adopted model globally: A fully outsourced model for M&E category management. Most adopted engagement model: 2–3 preferred EMCs in every region.
Why: Engaging with 2–3 preferred suppliers provides better supplier management than multiple suppliers.Pricing strategy: Fixed fee model and cost-plus models are the most frequently used pricing models
The choice of a service provider depends mainly on the scope and scale of the event being organized and the in-house event management capability of the buyer. Companies with a large number of events in a year and with events across regions will prefer to engage with an EMC with global capabilities.
There is an upcoming trend of using a specialized/boutique MPA catering to M&E needs of a particular industry. However, the preferred end-to-end supplier list of both the client and the EMC remains a primary factor in selecting an EMC.
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