Event and Exhibition Market

Event and Exhibition Market Size (2024 – 2029):

The Global Event and Exhibition Market was worth US$ 43.64 billion in 2023 and is anticipated to reach a valuation of US$ 54.90 billion by 2029 and it is predicted to register a CAGR of 3.9% during the forecast period 2024-2029.

Market Overview:

An Exhibition is generally referred to as an organized presentation and display of an exquisite selection of items. Exhibitions are also known as transitory events that occur at regular intervals and feature new products and services. With innovation continually developing at an amazing speed, consolidating cutting-edge innovations in the occasions and display industry has taken the client experience to a huge level. Man-made reasoning and virtual reality also hold extraordinary potential in connecting with clients at a vivid level. Another striking occasion innovation is Beacon innovation. Likewise, it is guessed that 565 million signals will be moved yearly by 2021. 

Nevertheless, the effect of COVID-19 radically impacted the occasion and display market. As per IEIA (Indian Exhibitions Industry Association), the Indian display industry's size is Rs. 23,800 crores, with more than 550 occasions led yearly in the coordinated area. Therefore, India's display area has lost an expected amount of Rs 3,570 crores attributable to the lockdown forced by the nation.

Market Drivers:

The primary factor includes the reception of geo-cloning for display coordinators is driving the Global events and exhibition market during the forecast period. Geo-clones has demonstrated to be a significant strategy with less of the danger of a fresh-out-of-the-box new send-off and current brand notoriety to use as a launchpad and an assertion of the plan. Furthermore, with Dubai World Trade Center presentations adding to USD 3.28 billion in Dubai's economy alone, the UAE business' ability to accept new ideas further drives the market during the forecast period.

Moreover, some more key factors that are responsible for the global events and exhibitions market growth during 2024-2029 include the redesign of Exhibition Models, growth in the Application of Big Data, Expanded Focus on Insurance and Security, and Integration of Trade Shows and Digital Technology. The above factors cover a definite outline of a few market development empowering agents, limitations, and patterns. 

Also, the Events and exhibitions market is being driven by the offer spending plan that is well disposed of, answers for marketing your image, and sells your item. With a basic corner, a few mechanical extras, and selling charm, basic offers are some of the cheap ways of getting your image available. Though the event is only a few days long, thousands of interested clients come to one location specifically to learn about the product. The individual collaboration presented at the exhibitions and events permits people to set up an immediate, more successful relationship with the customer. This relationship is significant in the future as they keep an association, set up a customer base through business cards, or by gathering email records. This is a factor where events can help the upbringing of the events and exhibitions market, which further helps in increasing the growth of the global events and exhibitions market in the upcoming years.

Market Restraints:

The occasions like Mobile World Congress, IMEX, ITB Travel Trade Show, or the Geneva Auto Show have effectively been dropped due to COVID-19, which acts as a major restraint in the global event and exhibition market. Moreover, the outbreak of COVID-19 in China has spelled destruction for the worldwide occasion's piece of the pie, with around $135 billion worth of the absolute financial result probably not going to be produced before the finish of Q2 2020. Moreover, the coordinators can't ensure the security of members or planned operations challenges because of movement limitations. Hence, the global events and exhibitions market is likely to experience a slowdown in terms of growth.

EVENT AND EXHIBITION MARKET REPORT COVERAGE:

Market Segmentation

Event and Exhibition Market - By Type:

• B2B
• B2C
• Mixed/Hybrid

Based on type, the B2B segment is anticipated to have the largest global event and exhibition market share in the upcoming years. The expanding worldwide occasion and presentation industry pattern among organizations and undertakings to advance their items and administrations are affecting the development of the B2B display market. North America is the biggest market for B2B shows in the worldwide occasion and presentation market. A critical development in the US economy, the resulting ascends in the GDP, corporate benefits, and homegrown ventures are adding to the development.

On the other hand, the B2C segment tends to have the highest CAGR in the global event and exhibition market during 2022-2027. This is because of B2C exhibitions in fashion, consumer goods, technology products, toys, and garments. In addition, many people attend events about smart gadgets and other topics. The greater the cash generated from tickets or public admission costs, the higher the traffic and footfall. As a result, the global event and exhibition market will see revenue growth as B2C and mixed exhibitions grow.

Event and Exhibition Market - By Revenue Stream:

• Exhibitor Fee
• Sponsorship Fee
• Entrance Fee
• Services

The entrance fee segment dominates the global event and exhibition market during the forecast period based on the revenue stream. The revenue contributions of the entrance fee segment were more than $30 billion every 2019. A larger number of organizations across the globe are taking an interest in the occasions yearly. Subsequently, the income age from exhibitor expenses is expanding. Moreover, the web and disconnected commercials were done by sellers for the benefit of exhibitors creating leads and giving a high turnaround of crowds in shows leading to the entrance fee segment growth.

Market Regional Analysis:

1. North America
2. Asia Pacific
3. Latin America
4. Europe
5. Middle East & Africa

The North American market held the largest global event and exhibition market share in 2020 and will probably develop at an impressive CAGR. Also, an upsurge in the quantity of homegrown and global exchange guests further lifts the provincial market development. North America holds the most noteworthy direct spending on display exercises, subsequently addressing the largest number of exhibitors.

Europe is the largest business region worldwide and displays market size in 2019. The UK, France, Germany, Spain, and Italy are the biggest income generators in the show market in Europe.

APAC has turned into a thrilling spot for organizations and businesses' potential open doors, which assists the occasion and display with promoting to develop. China is the biggest objective for shows in the APAC area. The area is additionally one of the leading nations for shows across the globe. 

Impact of COVID-19 on the Event and Exhibition Market

The COVID-19 outbreak has considerably impacted the exhibition industry attributable to severe lockdown gauges, a restriction on the party, and the extreme shift towards a far-off gathering on a video call. During the beginning of the spread of COVID-19, India's display area lost an extended amount of USD 493.8 million because of the lockdown forced the nation over. The effect of COVID-19 is influencing market development as of now. The Seafood Expo North America was delayed on March 3rd, 2020, from its unique dates of 15 to March 17th, because of wellbeing concerns and travel complexities brought about by the worldwide COVID-19 pandemic. Further, the two-day occasion is rescheduled for September 2020, as declared by the coordinator, Diversified Communications. This affects the current income age and further worries about upcoming events.

Leading Company:

Informa Markets and RX (formerly reed exhibitions) are currently the top vendors in the Global region.

Market Key Players:

1. Informa markets
2. Fiera Milano SpA
3. Deutsche Messe
4. Messe Frankfurt GmbH
5. MCH Group AG
6. GL Events
7. Messe Munchen
8. Messe Düsseldorf
9. Koelnmesse
10. Easy fairs

Market Recent Developments:

• On June 1st, 2021, the MCH Group has done its Digital Festival AG in Zurich with its foundation Digital Festival, HackZurich, and HackZurich Talents. The functional group around overseeing chief and prime supporter Jonathan is being placed with the MCH Group and will keep on being answerable for the stages and their further turn of events; hence, the team ensures progression. 
• On February 16th, 2021, in Hanover, Germany, the Deutsche Messe's exhibition center got its own 5G campus network before the end of 2021. This will make Europe's biggest 5G presentation place, outfitted with the new, rapid age in versatile interchanges. Furthermore, in close association with Deutsche Telekom, Deutsche Messe AG is progressively changing the display grounds into profoundly creative multifunctional grounds.