According to the latest report by IMARC Group, the global exhibition organizing market size reached US$ 30.88 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.39 Billion by 2028, exhibiting a growth rate (CAGR) of 4.48% during 2023-2028.
The increasing number of different events, government initiatives to organize exhibitions supporting artisans, and the rising usage of social media for promotional purposes represent some of the key factors driving the market.
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Factors Affecting the Growth of the Exhibition Organizing Industry:
- Rapid Globalization:
Rapid globalization and the increasing international trade and interconnectedness represent one of the primary factors facilitating the market growth. In addition, the rising participation of businesses in exhibitions around the world is providing valuable market insights. Companies can gather information about local market trends, consumer preferences, and competitive landscapes, aiding in better decision-making. Exhibitions also promote cultural exchange, allowing attendees to experience products, services, and ideas from different parts of the world. This fosters cross-cultural understanding and can lead to increased demand for globally diverse offerings.
- Continuous Advancements in Technology:
Rapid advancements of technology is offering a favorable market outlook. The development of digital tools, online platforms, and cutting-edge technologies are enhancing the overall impact of exhibitions. Apart from this, the evolution of virtual exhibitions is allowing participants to engage with a global audience without the need for physical presence. These digital showcases enable companies to display products and services, conduct live demos, and interact with attendees in real time. Online platforms make it easy to register, purchase tickets, and access event information, reducing administrative hassles.
- Growing Emphasis on Sustainability and Environmental Awareness:
The growing emphasis on sustainability and environmental awareness is creating a positive outlook for the market. Companies and organizers are increasingly adopting eco-friendly practices and integrating sustainability into every aspect of exhibitions. Additionally, various exhibition organizers are adopting eco-friendly practices, such as reducing waste, minimizing energy consumption, and promoting recycling. These efforts align with the growing environmental consciousness of attendees and exhibitors. Along with this, the rise of virtual exhibitions and digital platforms is reducing the carbon footprint associated with travel and on-site resources.
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Exhibition Organizing Market Report Segmentation:
By Area:
- 5000-20000 Sqm
- 20000-100000 Sqm
- More Than 100000 Sqm
5,000 to 20,000 square meters represented the largest segment due to its versatility, accommodating a wide range of industries and exhibitors while offering a manageable scale for organizers to efficiently plan and execute successful exhibitions.
By Application:
- Commercial Exhibitions
- Art Exhibitions
- Academic Exhibitions
- Others
Art exhibitions dominate the market due to their enduring appeal, drawing diverse audiences and collectors while providing a platform for artists to showcase their creativity and cultural significance.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America's dominance in the market is attributed to its robust economy, diverse industries, and a high concentration of businesses seeking to connect with domestic and international audiences through exhibitions.
Global Exhibition Organizing Market Trends:
The rising trend towards hybrid and virtual events models represents one of the primary factors influencing the market positively. Hybrid events break down geographical barriers, making it possible for individuals from around the world to participate. This accessibility fosters inclusivity by accommodating attendees who face travel restrictions, time zone differences, and physical limitations.
The increasing emphasis on personalization and engagement strategies within exhibitions is strengthening the growth of the market. Organizers are harnessing data analytics to understand attendee preferences and behaviors. This data is used to personalize content, recommendations, and experiences, creating a more relevant and engaging event for each participant.
Leading Companies Operating in the Global Exhibition Organizing Industry:
- Coex
- Emerald Events
- Fiera Milano S.p.A.
- GL events
- Hong Kong Trade Development Council
- Koelnmesse GmbH
- Messe Frankfurt GmbH
- Messe München GmbH
- NürnbergMesse GmbH
- RELX Plc
- Tokyo Big Sight Inc., etc
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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