The global exhibitions market is projected to grow from $27.31 billion in 2017 to $36.35 billion by 2023, growing at a CAGR of 4.88%.
Arizton’s recent market research report on the global exhibitions market segments the market by economic development (mature economies and emerging economies) and by geography (APAC, Europe, North America, and ROW).
The three leading drivers and trends of the global exhibitions market are discussed below:
Sustained Popularity in Elusive Industry Sectors
The use of conventional marketing methods such as e-mail marketing, newsletter, online advertisements, and media campaigns is unresponsive to highly specialized sectors such as manufacturing and mining. Such niche industries use exhibitions in the form of expert panels, trade associations, and research to make decisions about its products and services. Exhibitions for their specific industries provide a high level of thought leadership, enable interpersonal marketing, get the right exposure, and aid to laser-target these hard-to-reach professionals in a niche, specialist focus sectors. B2B exhibitions are an extension used to break into new, exclusive markets and as marketing tactics. Exhibition programs are largely used to boost the conversion rates and are increasingly being used as a cost of sale among various exhibitors.
Integration of Trade Shows and Digital Technologies
Exhibitions organized by various service providers are highly sophisticated digitally advanced channels of marketing that enable increased communication and conversions for business owners. The development of materials and technologies is promoting the digitalization of exhibitions. Exhibition organizers are augmenting value to business via online, social, technological, and mobile solutions in a space abound with trading and networking. The launch of multi-sensory storytelling, increase in monetization potential, implementation of tools to monitor customer behavior, and the provision of a comprehensive brand information will result in an emotional brand experience for end-users. The integration of technology such as AR, VR, wearables, interactive walls, digital lounges, and gamification will revolutionize the global exhibitions market.
Redesign of Exhibition Models
B2B exhibition models are witnessing a drastic shift of expectations, and consumers are leaning towards new connections, knowledge sharing, and access to expertise. This change in behavior is ideally targeted because of the proliferation of digital media that allows end-users to access all information with a click of a button. Exhibitions are changing their models to focus more on content than branding by offering new data and innovation. This change in the exhibition model will enable business owners to engage with consumers and increase their interest through interactive exhibitions. The launch of new formats such as trade shows, congresses, and conferences is driving the growth in the global exhibitions market. Show floors are gaining immense popularity in the market for its breakout sessions, workshops, and keynotes, and provide subject matter expertise in ways that increase interaction levels by providing valuable knowledge about the product. Such diversification of models will allow business owners to choose an ideal method that suits their operations, thereby, propelling the growth of the global exhibitions market.
The leading vendors in the market are Fiera Milano, GL Events, ITE Group, MCH Group, Messe Frankfurt, RELX Group, and UBM.
The complete overview of the latest market research report on global exhibitions market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and also provides the market size and forecast for major geographical regions and key countries.
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