
Global Special Event Insurance Market Insights, Size, and Forecast By Event Type (Weddings, Corporate Events, Concerts, Festivals, Sporting Events), By Distribution Channel (Online, Brokers, Insurance Agents, Direct Sales), By Coverage Type (Cancellation Insurance, Liability Insurance, Weather Insurance, Property Damage Insurance), By Payment Type (Single Payment, Installment Payment, Recurring Premium), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Key Companies, Competitive Analysis, Trends, and Projections for 2026-2035
Key Market Insights
Global Special Event Insurance Market is projected to grow from USD 19.8 Billion in 2025 to USD 41.5 Billion by 2035, reflecting a compound annual growth rate of 7.4% from 2026 through 2035. This market encompasses a broad range of insurance products designed to protect organizers, vendors, and attendees from financial losses arising from unforeseen circumstances impacting special events. Such events span corporate gatherings, weddings, music festivals, sporting events, and cultural celebrations. The primary drivers fueling this expansion include the increasing complexity and scale of events, a heightened awareness among organizers regarding potential liabilities and risks, and the growing regulatory scrutiny mandating specific insurance coverages. Furthermore, the rising frequency of adverse weather events, geopolitical instability, and health crises has underscored the critical need for comprehensive event protection, prompting a proactive approach from event stakeholders. The market is segmented by Event Type, Coverage Type, Distribution Channel, and Payment Type, with Liability Insurance currently holding the largest share, indicating a strong focus on protecting against third-party claims for bodily injury or property damage.
Global Special Event Insurance Market Value (USD Billion) Analysis, 2025-2035

2025 - 2035
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Important trends shaping the market include the digitization of insurance sales and claims processing, with a shift towards online platforms and customized policy options. The integration of data analytics and artificial intelligence is also enabling insurers to offer more accurate risk assessments and tailored products. However, the market faces restraints such as the perception of high premium costs among smaller event organizers and the challenges in accurately assessing risks for unique or niche events. Economic downturns can also impact discretionary spending on events, subsequently affecting insurance demand. Despite these challenges, significant opportunities lie in the expansion into emerging markets, the development of parametric insurance solutions for weather related risks, and the creation of specialized products for virtual and hybrid events. The growing demand for sustainable and eco friendly event practices also presents an avenue for green event insurance offerings.
North America currently dominates the special event insurance market, driven by a well established event industry, high legal awareness, and a robust regulatory framework that often mandates comprehensive insurance coverage. The region benefits from a mature insurance landscape and a strong culture of risk mitigation. Meanwhile, Asia Pacific is emerging as the fastest growing region, propelled by rapid urbanization, a burgeoning middle class, increasing disposable incomes, and a booming MICE Meetings, Incentives, Conferences, and Exhibitions sector. This growth is further supported by the rising number of international events and cultural festivals hosted in countries across the region. Key players like Marsh, Aon, AXA, Markel Corporation, Chubb, CNA, Sovereign Insurance, Hiscox, Lloyd's, and Aviva are actively engaged in strategic partnerships, product innovation, and geographical expansion to capitalize on these growth trajectories and reinforce their market positions. Their strategies often involve offering bundled packages, enhancing digital platforms, and forging alliances with event management companies to broaden their reach and cater to diverse client needs.
Quick Stats
Market Size (2025):
USD 19.8 BillionProjected Market Size (2035):
USD 41.5 BillionLeading Segment:
Liability Insurance (42.5% Share)Dominant Region (2025):
North America (38.2% Share)CAGR (2026-2035):
7.4%
What is Special Event Insurance?
Special Event Insurance provides financial protection for event organizers against unforeseen circumstances. It covers various risks like property damage to venues, third party bodily injury or property damage, alcohol related incidents if applicable, and often includes cancellation coverage for circumstances beyond the organizer's control, such as severe weather or performer no-shows. This crucial safeguard ensures that if an incident occurs that impacts the event or its attendees, the financial burden does not solely fall on the organizer. It allows for smoother planning and execution by mitigating potential liabilities and associated costs, offering peace of mind to hosts and participants alike.
What are the Trends in Global Special Event Insurance Market
Parametric Policies Powering Payouts
Microinsurance for Memorable Moments
AI Driven Risk Assessment Refinement
Sustainability Linked Coverage Growth
Hybrid Event Protection Products
Parametric Policies Powering Payouts
Parametric policies are transforming payouts in the global special event insurance market. Traditionally, event insurance relied on lengthy claims processes tied to actual financial losses, often delayed by loss adjusters and extensive documentation. Now, the shift is towards predefined triggers and automatic payouts. For instance, an event insurer might cover an outdoor festival with a policy that pays out a fixed sum if rainfall exceeds a specific millimeter threshold within a set timeframe, regardless of the precise financial impact.
This trend brings clarity and speed. Event organizers receive pre agreed compensation swiftly when a predetermined weather condition, attendance drop or other measurable metric is met. This reduces disputes, lowers administrative costs for insurers and provides immediate liquidity for organizers facing weather related cancellations or other covered disruptions, fostering greater confidence and resilience within the special event industry.
Microinsurance for Memorable Moments
Microinsurance for memorable moments reflects a growing desire among individuals to protect their investments in unique, one off experiences. This trend extends beyond traditional event cancellation policies, focusing on specific elements of special occasions like weddings, concerts, or adventure travel. For a wedding, it might cover a cancelled venue or a missing photographer. For a concert, it could insure against a headline act pulling out last minute. Adventurers might seek coverage for equipment damage or unexpected delays impacting their planned once in a lifetime trip. This granular approach, offering affordable, tailored protection for the unpredictable aspects of cherished events, is driven by consumers valuing peace of mind and the desire to mitigate financial risks associated with their most significant personal investments in experiences.
What are the Key Drivers Shaping the Global Special Event Insurance Market
Rising Scale and Complexity of Global Events
Increased Awareness and Demand for Risk Mitigation
Expanding Globalization of Entertainment and Business Events
Evolving Regulatory Landscape and Event Safety Standards
Technological Advancements in Event Management and Data Analytics
Rising Scale and Complexity of Global Events
The increasing frequency and magnitude of global events significantly influence the special event insurance market. As natural disasters, geopolitical instability, and health crises become more commonplace and severe, they present unprecedented risks to planned gatherings worldwide. Organizers face greater potential for cancellations, postponements, or disruptions due to these large scale, interconnected occurrences. This escalating uncertainty compels a higher demand for comprehensive insurance solutions that cover a wider array of perils, including those stemming from global events. Insurers adapt by developing more sophisticated policies, reflecting the evolving threat landscape and the growing need for robust financial protection against the multifaceted impacts of an increasingly complex and unpredictable world.
Increased Awareness and Demand for Risk Mitigation
Growing global instability, including terrorism, civil unrest, and natural disasters, significantly heightens event organizers’ understanding of potential perils. This increased awareness drives a stronger demand for comprehensive risk transfer solutions. Event professionals, from small gatherings to mega concerts and international sporting events, recognize that unforeseen circumstances can lead to substantial financial losses, reputational damage, and even legal liabilities. Consequently, they actively seek insurance products that offer robust protection against a wider array of risks, beyond traditional coverage like property damage or cancellation. This proactive approach to safeguarding investments and ensuring business continuity fuels the expansion of the special event insurance market as a critical component of event planning and execution.
Expanding Globalization of Entertainment and Business Events
The global special event insurance market is significantly propelled by the expanding globalization of entertainment and business events. As international travel becomes more accessible and economies intertwine, the frequency and scale of cross border events are increasing. Music festivals, sporting championships, corporate conferences and trade shows are no longer confined to single nations but frequently involve participants, vendors and audiences from diverse countries. This global reach introduces complex risks including varying legal jurisdictions, political instability and logistical challenges across different territories. Event organizers recognize the heightened need for comprehensive insurance coverage to mitigate potential financial losses arising from cancellations, postponements, property damage or liability claims that span multiple nations. This expanding internationalization inherently drives demand for specialized insurance products capable of addressing the unique and intricate risk profiles of global events.
Global Special Event Insurance Market Restraints
Geopolitical Instability and Event Cancellation Concerns
Geopolitical instability significantly restricts the global special event insurance market. Escalating conflicts, terrorism, and political unrest worldwide create an unpredictable environment for large gatherings. Insurers face a higher probability of claims stemming from event cancellations or disruptions due to these unforeseen circumstances. War, civil strife, or even the threat of such events can lead authorities to revoke permits or compel organizers to call off festivals, concerts, and major sporting events. This heightened risk makes it difficult for underwriters to accurately assess exposure and price policies effectively. Consequently, insurers may exclude certain regions or types of events from coverage, or charge substantially higher premiums, thereby limiting the market’s growth potential and accessibility for event organizers. The uncertainty makes comprehensive coverage challenging to provide.
High Premiums and Limited Coverage for Catastrophic Risks
High premiums and limited coverage for catastrophic risks pose a significant restraint in the global special event insurance market. Insurers, faced with the potential for massive payouts from unforeseen events like natural disasters, pandemics, or terrorism, are forced to price policies very high. This makes comprehensive coverage unaffordable for many event organizers, especially for smaller or niche events. Consequently, organizers might opt for minimal coverage, leaving them exposed to substantial financial losses if a major incident occurs. The difficulty in accurately assessing and pricing these extreme, low-probability but high-impact events further exacerbates the problem, leading to cautious underwriting and a reluctance to offer extensive protection. This market hesitancy restricts growth and innovation within the sector.
Global Special Event Insurance Market Opportunities
Pandemic & Climate Resilience: New Opportunities in Global Event Interruption Insurance
The global special event insurance market presents a significant new opportunity stemming from the increasing frequency and severity of large scale disruptions caused by pandemics and climate related events. Event organizers worldwide now grapple with unprecedented risks of cancellation, postponement, or significant operational curtailment due to global health crises or extreme weather phenomena. Traditional event interruption policies often feature exclusions or offer insufficient coverage for such complex, widespread threats. This critical gap creates a clear and urgent demand for innovative insurance solutions. Insurers can proactively develop highly tailored products that integrate robust pandemic clauses, comprehensive climate resilience assessments, and multi peril coverage designed specifically for these evolving and challenging risks. Offering comprehensive financial protection against the unique challenges posed by future global health emergencies and escalating climate impacts represents a substantial growth avenue. It fosters greater confidence in planning large gatherings, expands market reach, and enhances product sophistication for event stakeholders.
Hybrid & Virtual Events: Expanding Insurance Coverage for Evolving Global Event Formats
The global event landscape has fundamentally transformed, embracing widespread adoption of hybrid and virtual formats. This evolution creates a substantial opportunity for the special event insurance market to innovate and expand. As events increasingly integrate digital platforms, new and distinct risks emerge that traditional insurance policies do not adequately cover. Insurers can capitalize by developing specialized coverage for technology failures, cybersecurity breaches, data privacy issues, streaming platform disruptions, and intellectual property concerns inherent in these digital event components. Hybrid events further necessitate comprehensive policies that seamlessly blend physical venue liabilities with complex digital risks, often spanning multiple international jurisdictions. This expansion caters to a growing demand from event organizers for tailored protection against the diverse and evolving challenges of modern global event formats, fostering significant market growth and product diversification.
Global Special Event Insurance Market Segmentation Analysis
Key Market Segments
By Event Type
- •Weddings
- •Corporate Events
- •Concerts
- •Festivals
- •Sporting Events
By Coverage Type
- •Cancellation Insurance
- •Liability Insurance
- •Weather Insurance
- •Property Damage Insurance
By Distribution Channel
- •Online
- •Brokers
- •Insurance Agents
- •Direct Sales
By Payment Type
- •Single Payment
- •Installment Payment
- •Recurring Premium
Segment Share By Event Type
Share, By Event Type, 2025 (%)
- Weddings
- Corporate Events
- Concerts
- Festivals
- Sporting Events

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Why is Liability Insurance dominating the Global Special Event Insurance Market?
Liability Insurance commands the largest share because event organizers inherently face substantial risks of third party injury or property damage. This coverage is often a non negotiable requirement from venues and regulatory bodies, safeguarding against potential lawsuits and significant financial losses. The high stakes involved in hosting any event, from small gatherings to large scale festivals, make robust liability protection indispensable, thereby driving its leading position as the most critical and widely adopted insurance type.
How do diverse event types influence the segmentation of special event insurance?
The segmentation by event type highlights the distinct risk profiles and insurance requirements across categories like Weddings, Corporate Events, Concerts, Festivals, and Sporting Events. Weddings often prioritize cancellation and weather protection, while large scale Concerts and Festivals demand comprehensive liability and property damage coverage due to crowd sizes and complex setups. Sporting Events carry unique participant injury and equipment related risks. This varied demand necessitates specialized insurance solutions tailored to the specific vulnerabilities of each event type.
What role do distribution channels play in the accessibility of special event insurance?
Distribution channels are crucial in making special event insurance accessible to a wide range of organizers. While online platforms offer convenience and quick quotes, brokers and insurance agents provide personalized advice and navigate complex coverage options for larger or more unique events. Direct sales channels also cater to specific niches. The availability of multiple channels ensures that event planners, regardless of their event's size or complexity, can find suitable coverage and expert guidance efficiently.
What Regulatory and Policy Factors Shape the Global Special Event Insurance Market
The global special event insurance market operates within a complex, fragmented regulatory landscape. Solvency and licensing requirements vary significantly across jurisdictions, demanding meticulous adherence for international insurers. Consumer protection frameworks, ranging from stringent European directives to diverse national approaches, dictate fair terms, transparent pricing, and efficient claims handling for policyholders and event organizers. Data privacy regulations, including GDPR and its global counterparts, heavily influence how personal information is collected, stored, and utilized throughout the underwriting and claims processes. Furthermore, anti money laundering AML and counter terrorist financing CTF provisions necessitate robust compliance measures. Cross border operations are often complicated by non admitted insurance rules and varying local establishment mandates. Insurance Premium Tax IPT also differs substantially by region, adding another layer of complexity. Specific event types may also trigger additional national or municipal liability insurance requirements. This intricate web requires insurers to maintain flexible, localized compliance strategies.
What New Technologies are Shaping Global Special Event Insurance Market?
The global special event insurance market is undergoing a significant transformation driven by technological advancements. Artificial intelligence and machine learning are revolutionizing risk assessment, offering granular insights into weather patterns, crowd behavior, and supply chain vulnerabilities. This allows for more precise underwriting and personalized policy creation.
Parametric insurance solutions are emerging, offering automated payouts triggered by specific, verifiable events like defined rainfall levels or venue capacity breaches, streamlining the claims process significantly. Blockchain technology promises greater transparency and efficiency in policy management and claims settlement, reducing fraud and administrative costs.
IoT sensors and drone technology provide real time event monitoring and rapid post incident assessment, enhancing risk mitigation and faster claims validation. Furthermore, integrated cyber insurance offerings are becoming crucial, addressing the growing digital risks associated with ticketing systems, data breaches, and event infrastructure. These innovations are creating more dynamic, responsive, and efficient insurance products for a diverse range of events.
Global Special Event Insurance Market Regional Analysis
Global Special Event Insurance Market
Trends, by Region

North America Market
Revenue Share, 2025
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Dominant Region
North America · 38.2% share
North America stands as the dominant region in the global special event insurance market, commanding a significant 38.2% market share. This leadership position is driven by several key factors. The region boasts a highly developed event industry, characterized by a large volume and diversity of events ranging from major sporting spectacles and concerts to corporate gatherings and festivals. A robust regulatory framework and well established insurance infrastructure also contribute to this dominance, fostering a mature market with high demand for comprehensive coverage. Furthermore, a strong culture of risk awareness among event organizers and participants in North America encourages the adoption of specialized insurance solutions, cementing its leading role in this niche market segment.
Fastest Growing Region
Asia Pacific · 11.2% CAGR
Asia Pacific is poised to be the fastest growing region in the global special event insurance market, projecting an impressive CAGR of 11.2% from 2026 to 2035. This remarkable expansion is fueled by several converging factors. A burgeoning middle class and increasing disposable incomes across countries like India and Southeast Asian nations are driving demand for diverse events, from large scale concerts and festivals to corporate gatherings and private celebrations. Furthermore, rapid urbanization and infrastructure development are creating more venues and opportunities for events to take place. Growing awareness among event organizers about the financial risks associated with cancellations, property damage, and liability claims is also significantly contributing to the uptake of specialized insurance policies. The increasing complexity and scale of events in the region necessitate comprehensive coverage, further bolstering this growth trajectory.
Top Countries Overview
The U.S. dominates the global special event insurance market, driven by its robust entertainment, sports, and corporate event industries. High-profile events, a litigious environment, and comprehensive coverage needs create a lucrative landscape. While regulation varies by state, major insurers offer tailored policies covering cancellation, liability, and unique risks associated with large-scale gatherings, influencing global market trends.
China's global special event insurance market is expanding, driven by increasing domestic and international events. While international players dominate complex risks, local insurers are growing, focusing on smaller events and local regulations. The market faces challenges from evolving event landscapes, regulatory changes, and demand for comprehensive, customizable coverage, highlighting opportunities for innovation and collaboration.
India's global special event insurance market is characterized by emerging opportunities and increasing demand, driven by a growing number of international events and sporting spectacles. While still nascent compared to mature markets, awareness is rising, attracting international insurers and specialized brokers. The market's growth is propelled by economic expansion and a burgeoning MICE industry, despite regulatory complexities and a developing risk assessment landscape.
Impact of Geopolitical and Macroeconomic Factors
Geopolitical instability, particularly in conflict zones and politically sensitive regions, significantly impacts the Special Event Insurance Market. Terrorism threats and civil unrest force organizers to secure extensive coverage for cancellations and abandonment, escalating premium costs. Furthermore, travel advisories and heightened security concerns deter international participation in events, increasing the risk of lower attendance and event viability, thus influencing insurer appetite and coverage terms. Regulatory changes regarding safety protocols and public gathering limitations also impose additional compliance burdens on organizers, which translates into more complex insurance requirements and potentially higher premiums.
Macroeconomic factors, especially inflation, directly influence the cost of event production, labor, and necessary equipment, leading to higher insurable values and subsequent premium adjustments. Economic downturns reduce corporate sponsorship and individual ticket sales, elevating the financial risk of event cancellation and thus the demand for robust insurance. Currency fluctuations impact international events, altering the cost of overseas contracts and potential payouts for damages or cancellations, necessitating dynamic risk assessment by insurers. Interest rate changes affect insurers' investment returns, potentially influencing their capacity and pricing strategies within this specialized market.
Recent Developments
- March 2025
Marsh launched a new 'Climate Risk Addendum' product specifically for large-scale outdoor events, providing enhanced coverage for severe weather-related cancellations or postponements due to increasing climate volatility. This strategic initiative helps event organizers mitigate financial losses from increasingly unpredictable weather patterns impacting revenue and operational costs.
- February 2025
Aon announced a partnership with a major global cybersecurity firm to offer integrated cyber risk insurance for special events, covering data breaches, ransomware attacks, and IT system failures during ticket sales and event operations. This collaboration addresses the growing digital risks associated with large-scale events, offering a comprehensive solution beyond traditional liability coverage.
- January 2025
AXA completed its acquisition of 'EventGuard Solutions,' a niche insurer specializing in small to medium-sized local and community events. This acquisition expands AXA's market share in the special event insurance sector, particularly targeting a segment often underserved by larger global players.
- April 2025
Markel Corporation introduced a flexible 'Parametric Event Interruption' insurance product, allowing event organizers to receive pre-agreed payouts if specific, pre-defined triggers (e.g., hurricane landfall within a certain radius, sustained high winds) occur, regardless of actual loss. This product launch offers a more immediate and transparent claims process compared to traditional indemnity policies, critical for fast-paced event recovery.
- May 2025
Chubb initiated a strategic initiative to develop AI-driven underwriting models for special event insurance, aiming to provide quicker quotes and more accurate risk assessments for complex global events. This move seeks to enhance efficiency and competitiveness by leveraging advanced analytics to better price and manage event-specific risks.
Key Players Analysis
The global special event insurance market is shaped by major players like Marsh, Aon, and AXA, who act as leading brokers and underwriters. Companies such as Markel Corporation, Chubb, and CNA also hold significant market share, providing comprehensive coverage solutions. Technology integration, including advanced data analytics and AI powered risk assessment tools, is a key focus for these firms. Strategic initiatives involve expanding digital platforms for easier policy access and developing tailored products for diverse event types. Market growth is driven by increasing global event complexity, heightened awareness of potential liabilities, and the growing demand for bespoke insurance products from specialized providers like Hiscox and Lloyd's, along with local giants like Sovereign Insurance and Aviva.
List of Key Companies:
- Marsh
- Aon
- AXA
- Markel Corporation
- Chubb
- CNA
- Sovereign Insurance
- Hiscox
- Lloyd's
- Aviva
- Zurich
- Travelers
- Berkshire Hathaway
- Evanston Insurance
- Allianz
Report Scope and Segmentation
| Report Component | Description |
|---|---|
| Market Size (2025) | USD 19.8 Billion |
| Forecast Value (2035) | USD 41.5 Billion |
| CAGR (2026-2035) | 7.4% |
| Base Year | 2025 |
| Historical Period | 2020-2025 |
| Forecast Period | 2026-2035 |
| Segments Covered |
|
| Regional Analysis |
|
Table of Contents:
List of Figures
List of Tables
Table 1: Global Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 2: Global Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 3: Global Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 4: Global Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 5: Global Special Event Insurance Market Revenue (USD billion) Forecast, by Region, 2020-2035
Table 6: North America Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 7: North America Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 8: North America Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 9: North America Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 10: North America Special Event Insurance Market Revenue (USD billion) Forecast, by Country, 2020-2035
Table 11: Europe Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 12: Europe Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 13: Europe Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 14: Europe Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 15: Europe Special Event Insurance Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 16: Asia Pacific Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 17: Asia Pacific Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 18: Asia Pacific Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 19: Asia Pacific Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 20: Asia Pacific Special Event Insurance Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 21: Latin America Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 22: Latin America Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 23: Latin America Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 24: Latin America Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 25: Latin America Special Event Insurance Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 26: Middle East & Africa Special Event Insurance Market Revenue (USD billion) Forecast, by Event Type, 2020-2035
Table 27: Middle East & Africa Special Event Insurance Market Revenue (USD billion) Forecast, by Coverage Type, 2020-2035
Table 28: Middle East & Africa Special Event Insurance Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 29: Middle East & Africa Special Event Insurance Market Revenue (USD billion) Forecast, by Payment Type, 2020-2035
Table 30: Middle East & Africa Special Event Insurance Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
