Meaning of the word "taking place" in English

What does "taking place" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

taking place

US /ˈteɪkɪŋ pleɪs/
UK /ˈteɪkɪŋ pleɪs/

Phrase

happening or occurring

Example:
The concert is taking place in the park this Saturday.
A lot of changes are taking place in the company.