US and Europe Technofest Market Size By Festival Type, By Geographic Scope And Forecast

Feb 2021| VMR4131A| Verified Market Research

Report Highlights

US and Europe Technofest Market Size And Forecast

US and Europe Technofest Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.

US and Europe Technofest Market Overview

The degree of urbanization is on the rise with every passing year. According to the UN, more than half of the worlds populations lived in urban areas, which is anticipated to increase to 68% by 2050. The major reason behind this is the gradual shift in residence of human population from rural to urban areas and the overall growth of the worlds population. The gathering of economic and human resources in one place stimulates innovation and development in business, science, technology and various industries. In this era of millennials, live music concerts and festivals area vital element in the urban cities. Other important driving factor for the growth of this market is the rising disposable income of the population across the globe. With rise in disposable incomes level, youth people from developed and developing countries look forward to spend in such festivals.

US and Europe Technofest: Segmentation Analysis

US Technofest Market by Festival Type

Based on Festival Type, the market is bifurcated into Coachella, Lollapalooza, Electric Daisy Carnival, Together Boston, Electric Forest, and Holy Ship. These festivals feature the top DJs in the world performing multiple shows in different location and venue. Electric Daisy Carnival is an annual electronic dance and music festival organized in Las Vegas Nevada. This event is organized in order to provide ultimate experience to the people visiting.

Europe Technofest Market by Country

Based on regional analysis, Europe Technofest Market is classified into Netherlands, Germany, U.K., France, Italy, Spain, Portugal, and Rest of Europe. The Netherlands accounted for the largest market share in 2018 followed by Germany.

Europe Technofest Market by Festival Type

On the basis of Festival Type, Europe Technofest Market is classified into Awakenings, Time Warp, Sonus Festival, B.my.Lake, Snar, Street Parade, BPM Portugal, Tomorrowland, Caprices, Peacock Society Festival, Berlin Atonal Techno Festival, and Dekmantel Festival. Tomorrowland is one of the biggest electronic dance music (EDM) festivals across the globe. The festival is known for displaying a fairy tale world amidst natural surroundings. Tomorrowland is conducted in Boom, Belgium.

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