As per the current market research conducted by the CMI Team, the global Exhibitions Market size is expected to record a CAGR of 4.7% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 44,150.1 Million. By 2033, the valuation is anticipated to reach USD 66,749.9 Million.
Exhibitions Market: Growth Factors and Dynamics
- Globalization and Market Expansion: The exhibitions market continues to grow due to globalization, enabling companies to reach broader audiences and expand their market presence through international exhibitions and trade shows.
- Industry Innovation and Technological Advancements: Advancements in technology, such as virtual and augmented reality, mobile applications, and interactive displays, are enhancing the exhibition experience, driving attendee engagement, and attracting new exhibitors.
- Increasing Demand for Networking and Business Opportunities: Exhibitions provide valuable networking opportunities for businesses and professionals to connect, collaborate, and explore potential partnerships, driving demand for industry-specific trade shows and expos.
- Rising Importance of Brand Visibility and Promotion: Companies recognize the importance of brand visibility and promotion in competitive markets, leading to increased participation in exhibitions as a strategic marketing tool to showcase products, services, and innovations to a captive audience.
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Exhibitions Market: Partnership and Acquisitions
- In 2023, The Orange County Convention Center (OCCC) and Walt Disney World inked a Gold Key Partnership, offering exclusive benefits for corporate events, trade shows, and attendees. It aims to enhance exposure via marketing channels, enable off-site events, and cultivate relationships.
- In 2022, Flash Entertainment, based in the UAE, expanded with a standalone office in Riyadh, Saudi Arabia, aligning with the Kingdom’s burgeoning events and leisure sector. The move aims to contribute to industry development, economic diversification, and Saudization goals in Saudi Arabia’s growing entertainment industry.
Exhibitions Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Exhibitions Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Event Cancellations and Postponements: The COVID-19 pandemic resulted in widespread cancellations and postponements of exhibitions and trade shows globally due to restrictions on public gatherings and travel bans. This led to significant revenue losses for organizers, exhibitors, and suppliers, disrupting the exhibition market ecosystem.
- Shift to Virtual Events: To adapt to social distancing measures and travel restrictions, many exhibitions shifted to virtual formats. While virtual events provided an alternative, they often lacked the same level of engagement and networking opportunities as in-person events, impacting attendee satisfaction and exhibitor ROI.
List of the prominent players in the Exhibitions Market:
- Informa PLC
- Reed Exhibitions
- Messe Frankfurt GmbH
- UBM plc (now part of Informa PLC)
- Comexposium Group
- Emerald Expositions Events Inc.
- Tarsus Group plc
- GL Events
- ITE Group plc (now Hyve Group plc)
- Fiera Milano S.p.A.
- Koelnmesse GmbH
- Deutsche Messe AG
- Guangzhou RuiHong Exhibition Service Co. Ltd.
- Shanghai International Exhibition Co. Ltd.
- Hannover Fairs USA Inc.
- Others
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