The exhibition market size has experienced significant growth in recent years, projected to increase from $63.49 billion in 2023 to $67.10 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.7%. This growth during the historical period can be attributed to factors such as rising disposable incomes, urban development, cultural investments, government grants and support, and the growth of cultural tourism. Looking ahead, the exhibition market is expected to continue its upward trajectory, reaching $84.06 billion in 2028 at a CAGR of 5.8%. The anticipated growth in the forecast period is driven by sustained urban revitalization efforts, advancements in digital and interactive technologies, expanding global cultural exchange programs, an increased focus on arts education, and enhanced public engagement. Notable trends expected during this period include the rise of virtual and hybrid exhibitions, the growing use of interactive and immersive technologies, an increase in specialized and niche exhibitions, an emphasis on sustainability and eco-friendly practices, and the emergence of data-driven and personalized experiences.
Major Driver In The Exhibition Market
The growing arts and cultural industries are expected to propel the exhibition market, as rising disposable incomes and changing spending habits increase investments in cultural and artistic experiences. Exhibitions serve as vital platforms for showcasing artistic works, engaging the public, facilitating cultural exchanges, and promoting market development. The National Endowment for the Arts (NEA) reports that the arts and cultural industry economy expanded by 4.8% between 2021 and 2022. This growth in arts and cultural industries is expected to drive the exhibition market, offering more opportunities for artistic promotion and community engagement, with market sizes projected to reach USD 1.9 billion in 2023, USD 2.3 billion in 2024, and USD 3.5 billion by 2028.
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Exhibition Market Competitive Landscape
Major companies operating in the exhibition market are Reed Exhibitions, Informa Markets, GL Events, Ascential plc, MCH Group, Emerald Expositions, Messe München, Clarion Events, Fiera Milano SpA, NürnbergMesse, Artexis Easyfairs, Comexposium, dmg events, Hyve Group, Tüyap Fairs and Exhibitions Organization Inc., Koelnmesse, RAI Amsterdam, Fira Barcelona, Pico Global, Tarsus Group, Messe Düsseldorf, Messe Frankfurt, ITE Group
Key Exhibition Market Trend
Major companies in the exhibition market are dedicated to developing digitally advanced event and exhibition planning products, including mobile applications, to improve attendee engagement, streamline operations, and offer innovative solutions for a seamless event experience. Mobile apps provide a comprehensive set of tools for managing event schedules, exhibitor logistics, attendee registration, and interactive features that simplify the planning and execution of exhibitions and events. For instance, in November 2023, Simpleview, a US-based provider of marketing software, introduced the Eventsforce mobile app, designed as a cost-effective solution for tourism event organizations seeking to enhance attendee engagement. The app offers user-friendly features for attendees, exhibitors, sponsors, and organizers, including seamless integration with major association management systems (AMS), customer relationship management (CRM), event management systems, mobile and desktop access, advanced QR code scanning, and gamification tools to boost engagement.
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Global Exhibition Market Segmentation
The exhibition market covered in this report is segmented –
1) By Exhibition: Traditional Exhibitions, Virtual Exhibitions, Hybrid Exhibitions
2) By Revenue Stream: Exhibitor Fee, Sponsorship Fee, Entrance Fee, Services
3) By Enterprise Size: Large Enterprise, Small And Midsize Enterprise (SME)
4) By Industry: Consumer Goods And Retail Sector, Hospitality Sector, ART Fuel Forum (AFF) And Energy Sector, Automotive And Transportation Sector, Industrial Sector, Entertainment Sector, Other Industries
By Geography:The regions covered in the exhibition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the exhibition market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Exhibition Global Market Report 2024 furnishes information about the global exhibition market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
