K-Pop Event Market Projected to Rise $20 billion by 2031, Growing 7.3% CAGR by 2031

The sponsorships segment is expected to grow at a CAGR of 8.4% during the forecast period.

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, March 13, 2024 /EINPresswire.com/ -- 𝐓𝐡𝐞 𝐤-𝐩𝐨𝐩 𝐞𝐯𝐞𝐧𝐭𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟖.𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟑% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

According to a new report published by Allied Market Research, titled, “K-pop Events Market by Type (Rock, Jazz, Pop, Others), by Revenue Source (Tickets, Sponserships, Others), by Gender (Male, Female): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.alliedmarketresearch.com/request-sample/47843

Several distinct musical genres and aspects fall under the banner of K-pop. It also includes Korean rock, hip-hop, and electronic music in addition to Korean pop music. K-pop is regarded as a relatively new genre of music. According to financial statistics released in 2021, well-known K-pop companies saw a strong increase in their overseas revenues in the first half of the year as the number and power of fans who are stationed abroad increased to the point where they may influence local music charts.

The recent decline in recorded music sales has increased demand for live music performances, which has greatly aided the expansion of the worldwide music event sector such as K-pop events. Also, the rise in music tourism activities among spectators and artists has fueled the expansion of the K-pop event industry. The sponsorship income of music events is rising because of increased investments made by several startups and established large organizations in order to increase the visibility of their brands. K-pop Events Market Demand is impacted positively due to the emergence of the live music category worldwide.

Strong and modern infrastructure is a distinguishing feature of developed regions like North America and Europe, which greatly contributes to the expansion of the K-pop events and tourism sectors. The K-pop events are anticipated to benefit from an increase in government spending in infrastructure development. For instance, the European Commission planned to invest approximately $337 billion on the expansion of the world's infrastructure by 2027. The five important global sectors of digital, transport, energy, health, and education will all see infrastructure expansion as a result of the European Commission's investment plan. Due to their emphasis on sustainable development, these investments are anticipated to be advantageous for both Europe and the entire world. The improvements in infrastructure are anticipated to have a favorable effect on the European K-pop events market.

The K-pop events market is expanding as a result of the economy's improvement and the rise in disposable income. The global economy has come to a stop since the 2009 financial crisis in Europe and China. The robust economic growth that followed the crisis, particularly in developing nations, and the increase in discretionary income among middle-income groups as a result has increased the number of people in the middle class.

The K-pop events market is segmented into type, revenue source, gender, and region. By type, the market is divided into rock, jazz, pop, and others. Depending on the gender, it is divided into male and female. By revenue source, the K-pop events market size is divided into tickets, sponsorships, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.alliedmarketresearch.com/checkout-final/9eea67ff82cd3c22d77cc8dd89e9e3d7

Based on the type, the market is categorized into rock, jazz, pop, and others. Jazz segment dominated the global market, garnering a significant market share in 2021. Pop and rock music are extremely popular in the various developed and developing nations such as the U.S., South Korea, Canada, and UK.

The government's increased investments in infrastructure development and connectivity are also anticipated to have a significant impact on the market for music events. The governments of the emerging nations in the Middle East, Africa, and Asia-Pacific are making investments in the construction of roads, trains, and other forms of connection.

Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, and Rest of Europe), Asia-Pacific (Japan, China, South Korea, India, Australia, and Rest of Asia-Pacific), LAMEA (Brazil, Argentina, South Africa, and Rest of LAMEA).

The key players analyzed in the report are 𝐋𝐢𝐯𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐆𝐫𝐨𝐮𝐩 𝐩𝐥𝐜., 𝐏𝐊-𝐔𝐊 𝐄𝐯𝐞𝐧𝐭𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐒𝐮𝐛𝐊𝐮𝐥𝐭𝐮𝐫𝐞 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭, 𝐅𝐢𝐥𝐦𝐦𝐚𝐬𝐭𝐞𝐫 𝐆𝐫𝐨𝐮𝐩, 𝐂𝐉 𝐂𝐨., 𝐋𝐭𝐝., 𝐉𝐘𝐏 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭 𝐂𝐨. 𝐋𝐭𝐝, 𝐒𝐌 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭 𝐆𝐫𝐨𝐮𝐩, 𝐘𝐆 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐜., 𝐄𝐯𝐞𝐧𝐭𝐛𝐫𝐢𝐭𝐞, 𝐈𝐧𝐜., 𝐚𝐧𝐝 𝐇𝐘𝐁𝐄 𝐂𝐨., 𝐋𝐭𝐝.

𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐊-𝐩𝐨𝐩 𝐄𝐯𝐞𝐧𝐭𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

○ Global Expansion: K-pop was already a global phenomenon, and K-pop events were becoming increasingly popular outside of South Korea. Concert tours, fan meetings, and other events were being held in various countries to cater to the growing international fan base.

○ Virtual Concerts and Livestreams: The COVID-19 pandemic led to the cancellation or postponement of many live events in 2020 and early 2021. As a response, virtual concerts and livestreamed events gained prominence. This trend allowed K-pop groups to connect with fans globally, transcending geographical boundaries.

○ Fan Engagement: K-pop agencies and groups were investing more in interactive experiences to engage with fans. This included virtual fan meetings, online fan signs, and other digital interactions to enhance the fan experience and foster a sense of community.

○ Collaborations and Partnerships: K-pop agencies were exploring collaborations with international brands and artists to expand their reach. Partnerships with global companies and influencers helped promote K-pop events to a wider audience.

○ Diversification of Content: Beyond traditional concerts, K-pop events were diversifying in terms of content. This included reality shows, behind-the-scenes documentaries, and other exclusive content that fans could access either online or through specialized platforms.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.alliedmarketresearch.com/purchase-enquiry/47843

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the k-pop events market growth analysis from 2021 to 2031 to identify the prevailing k-pop events market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐊-𝐩𝐨𝐩 𝐄𝐯𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global K-pop Events Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the K-pop Events Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬?

Q1. What is the total market value of K-pop events market report?
Q2. What would be forecast period in the market report?
Q3. What is the market value of K-pop events market in 2021?
Q4. Which is base year calculated in the K-pop events market report?
Q5. What are the key trends in the K-pop events market report?
Q6. Who are the leading market players active in the market.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ U.S. K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
○ UK K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031

○ Music Event Market is projected to reach $481.4 billion by 2031
https://www.alliedmarketresearch.com/music-event-market-A08029

○ Canada K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/canada-k-pop-events-market-A77700

○ Mexico K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/mexico-k-pop-events-market-A77701

○ Europe K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/europe-k-pop-events-market-A77702

○ France K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/france-k-pop-events-market-A77704

○ Germany K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/germany-k-pop-events-market-A77705

○ Italy K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/italy-k-pop-events-market-A77706

○ Spain K-pop Events Market Opportunity Analysis and Industry Forecast, 2022-2031
https://www.alliedmarketresearch.com/spain-k-pop-events-market-A77707

David Correa
Allied Market Research
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