Exhibition, Convention & Meeting Market Size, Share, Growth, And Industry Analysis, By Type (Exhibition, Convention & Meeting), By Application (Corporate Organizations, Public Organizations & NGOs, Others), Regional Insights, and Forecast From 2024 To 2031

Exhibition, Convention & Meeting Market Report Overview

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The global exhibition, convention & meeting market size was USD 30880 million in 2022 and is expected to reach USD 41755.01 million by 2031, exhibiting a CAGR of 3.4% during the forecast period.

An exhibition, convention, and meeting are all events that serve different purposes within the realm of business and professional gatherings. An exhibition, commonly referred to as a trade show or expo, is a large-scale event where companies and organizations showcase their products, services, and innovations to a targeted audience. Exhibitions typically have designated booths or stands where exhibitors display their offerings, engage with potential customers, and network with industry peers. Visitors have the opportunity to explore various exhibits, learn about new trends, participate in demonstrations, and often make direct purchases. Exhibitions are crucial for businesses to raise brand awareness, generate leads, and establish partnerships. On the other hand, a convention is a gathering that brings together a specific group of people who share a common interest or profession. It typically involves educational sessions, keynote speeches, workshops, and panel discussions. Conventions serve as platforms for professionals to exchange knowledge, gain insights from industry experts, and discuss relevant topics and challenges. They provide opportunities for networking, professional development, and staying updated with the latest trends and best practices.

The exhibition, convention, and meeting industry play a vital role in facilitating business interactions, knowledge sharing, and networking opportunities on a global scale. Exhibitions, conventions, and meetings serve as platforms for companies, organizations, and professionals to showcase products, services, and expertise, fostering economic growth and innovation. The exhibition, convention, and meeting market experienced steady growth before the COVID-19 pandemic. North America, Europe, and Asia Pacific were the leading regions in terms of market size and revenue generation. The industry witnessed a temporary decline due to the COVID-19 pandemic, but it is gradually recovering as restrictions ease and vaccinations increase.

COVID-19 Impact: Lockdown Cancellation or Postponement of Numerous Events Worldwide Hampering the Market Growth

The COVID-19 pandemic has been unprecedented and staggering, with exhibition, convention & meeting experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had a profound impact on the exhibition, convention, and meeting market. Lockdowns, travel restrictions, and social distancing measures led to the cancellation or postponement of numerous events worldwide. The industry faced significant financial losses, as revenue streams from registration fees, sponsorships, and exhibitor fees were disrupted. However, the industry adapted by transitioning to virtual and hybrid formats, leveraging digital technologies to deliver virtual exhibitions, webinars, and online meetings. As the situation improves, in-person events are gradually resuming, albeit with enhanced health and safety measures.

Latest Trends

"Sustainability to Boost the Market Development"

The industry is increasingly embracing sustainable practices to reduce its environmental footprint. Exhibitions and conventions are adopting eco-friendly initiatives, such as using recyclable materials, implementing waste management strategies, and promoting sustainable transportation options. The focus on sustainability aligns with growing societal and corporate responsibility concerns.

Exhibition, Convention & Meeting Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into exhibition, convention & meeting. Exhibition being the leading segment of the market by type analysis.

• By Application Analysis

Based on application, the market can be divided into corporate organizations, public organizations & NGOs, Others. Corporate organizations being the leading segment of the market by application analysis.

Driving Factors

"Economic Impact to Drive the Market Growth"

Exhibitions, conventions, and meetings have a substantial economic impact on both local and global scales. These events serve as catalysts for business activity, generating significant revenue and stimulating economic growth. The direct spending by participants, including exhibitors, attendees, and sponsors, contributes to the local economy through hotel bookings, transportation, dining, and retail expenditures. Additionally, the indirect spending on logistics, event management services, and accommodations further boosts economic activity. The economic impact extends beyond the duration of the events, as long-term business relationships and partnerships often result from networking opportunities. Furthermore, exhibitions and conventions attract domestic and international visitors, promoting tourism and benefiting related industries such as hospitality, entertainment, and retail.

"Knowledge Sharing and Networking to Drive the Market Development"

Exhibitions, conventions, and meetings play a crucial role in facilitating knowledge sharing and networking among professionals and industry experts. These events bring together individuals from diverse backgrounds and sectors, providing a platform for exchanging insights, best practices, and innovative ideas. Attendees have the opportunity to gain valuable industry knowledge through educational sessions, workshops, and keynote speeches delivered by industry leaders. The networking aspect of exhibitions and conventions enables professionals to establish connections, build relationships, and explore potential collaborations. This exchange of ideas and information contributes to professional development, business growth, and the advancement of industries as a whole. Moreover, exhibitions often feature product launches, demonstrations, and interactive displays, allowing participants to experience the latest technologies and solutions firsthand.

Restraining Factors

"Constant Technological Advancements to Impede the Market Growth"

The exhibition, convention, and meeting industry are constantly evolving to keep up with rapid technological advancements. Event organizers need to embrace emerging technologies to enhance attendee experiences, increase efficiency, and deliver innovative solutions. Virtual reality (VR), for example, offers immersive experiences, allowing participants to virtually explore exhibition booths, attend presentations, and engage in interactive activities without being physically present. Artificial intelligence (AI) and data analytics can be utilized to personalize attendee experiences, optimize event planning and logistics, and provide valuable insights into attendee preferences and behavior. Mobile apps and online platforms enable seamless communication, registration, and engagement before, during, and after the events. Embracing technology not only enhances the overall event experience but also enables event organizers to streamline operations, improve data management, and drive attendee engagement.

Exhibition, Convention & Meeting Market Regional Insights

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"Numerous Large-Scale Events Across Various Industries, Including Technology, Healthcare, Finance, And Entertainment in North America to Bolster the Market Dvelopment"

North America has a well-established and mature exhibition, convention, and meeting market. The region is known for hosting numerous large-scale events across various industries, including technology, healthcare, finance, and entertainment. The United States, in particular, leads the market with major convention centers and popular event destinations such as Las Vegas, Orlando, and New York City. These cities offer state-of-the-art facilities, robust infrastructure, and a wide range of accommodations and entertainment options, making them attractive choices for hosting exhibitions and conventions. North America's strong business environment, advanced technology infrastructure, and high level of industry expertise contribute to the success and growth of the exhibition, convention, and meeting market in the region.

The Asia Pacific region is experiencing significant growth in the exhibition, convention, and meeting market. Rapid urbanization, economic development, and the emergence of new business hubs in countries like China, India, and Singapore are driving the demand for events in the region. Asia Pacific hosts several high-profile exhibitions and conventions that attract both regional and international participants. China, with its large population and growing middle class, offers immense opportunities for business events across various sectors. India's vibrant economy, technological advancements, and thriving industries contribute to the growth of the exhibition market. Singapore, known for its world-class infrastructure and business-friendly environment, has established itself as a premier destination for exhibitions and conventions in Southeast Asia. The Asia Pacific region's expanding market, favorable business environment, and increasing globalization make it an attractive region for companies and organizations looking to showcase their products

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP EXHIBITION, CONVENTION & MEETING COMPANIES

• The Freeman Company (U.S.)
• Informa (UBM) (U.K.)
• RELX Group (U.K.)
• BCD Meetings & Events (Netherlands)
• Cvent Inc (U.S.)
• ATPI Ltd (U.K.)
• CWT Meetings & Events (U.S.)
• Production Resource Group (U.S.)
• Clarion Events Ltd (U.K.)
• Capita plc (U.K.)
• Emerald Expositions Events Inc. (EEX) (U.S.)
• Fiera Milano SpA (Italy)
• Hyve Group plc (U.K.)
• Cievents (Australia)
• Tarsus Group (U.K.)
• Questex LLC (U.S.)
• Global Sources (Hong Kong)
• Meorient (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.