With technology constantly evolving at a staggering pace, incorporating advanced technologies in the events and exhibition industry has taken the customer experience to a significant level. Artificial Intelligence and Virtual Reality are also holding great potential in engaging the customers at an immersive level. Another notable event technology is Beacon technology. It is also anticipated that 565 million beacons will be transported yearly by 2021.

- The adoption of geo-cloning for exhibition organizers is driving the market. With less of the risk of a brand-new launch and an existing brand reputation to use as a launchpad and a statement of intent, geo-clones have proven to be a valuable tactic. With Dubai World Trade Centre exhibitions contributing to USD 3.28 billion in Dubai's economy alone, the UAE industry's willingness to embrace fresh concepts drives the market. Organizers and exhibitors are exploring the world of 'geo-cloning' to reach out to audiences both regionally and globally. In this regard, exhibitors produce successful exhibits and events outside of their local markets, hoping to increase brand awareness and sales. Further, Reed Exhibitions, a division of RELX, successfully implements geo-cloning to brand such as EuroBLECH, RAILTEX, PSE Europe, etc., which overall contributes to the market growth.

- Currently, exhibition booths are not just limited to engaging invitees simply by sights and sounds. The five senses, which include sight, sound, touch, taste, and smell, are continuously worked upon by the exhibitors to appeal to them. A distinctive lighting design, interactive displays, touch-panel interfaces, soothing background music, and gamification help amplify the visitors' sensory abilities to meet the main objective, i.e., to connect the brand with the target audience. Companies engaging in consumer technology are accounting for a significant chunk of the revenues, primarily by offering opportunities for innovations. In 2020, 175,000 tech enthusiasts from around 160 countries went to Las Vegas for the CES 2020.

- Further, Reed Exhibitions is gearing up to launch EnduranceCon, a two-day endurance sports festival in June 2020 at Long Beach Convention Center in California. The event is expected to attract approximately 150 exhibitors and 8,5000 attendees and will be presented in collaboration with Spartan, known as the world's largest obstacle course race and endurance brand. Furthermore, there is an increase in the number of advertising methods that are highly consumer-centric, dynamic, and engaging. With millions of consumers being restricted within their homes' confines, their usage of the social media platforms increased. In the wake of this trend, various organizations resort to their online platforms, mainly to generate awareness, drive traffic, promote upcoming virtual events, and enhance viewer participation.

- However, the impact of COVID-19 drastically affected the event & exhibition market. According to IEIA (Indian Exhibitions Industry Association), the Indian exhibition industry's size is Rs 23,800 crore, with more than 550 events conducted annually in the organized sector. India's exhibition sector has lost an estimated sum of Rs 3,570 crore owing to the lockdown imposed across the country. Further, from 50 to 80 percent of B2B exhibitions held in the United States from March 1 to May 15 have been canceled or are expected to be canceled, according to estimates from the Center for Exhibition Industry Research. The trade group estimates the cancelations conservatively add up to about a USD 14 billion loss to the economy and a USD 2.3 billion loss in revenue for show organizers.

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Key Market Trends

B2B exhibition to Witness Significant Growth Rate

- Exhibitions represent the marketplace in a single place and bringing together suppliers, buyers, purchase influencers, consultants, and the media. B2B business is expected to gain growth for the market. The emerging economies anticipated to assist in the market growth are Brazil, China, Gulf Cooperation Council, India, Indonesia, Mexico, Russia, Turkey, and Hong Kong. In 2019, the Center for Exhibition Industry Research (CEIR) examined the current outlook for B2B exhibitions. The report summarizes the responses of surveys received from 382 heads of marketing. More than half of these respondents utilize B2B exhibitions as a significant part of their marketing mix.

- With the increasing adoption of technology, there is a rising number of exhibitions. With the expanding capacities for industries, the exhibitions provide the potential for businesses to attract an audience. According to CEIR (Center for Exhibition Industry Research), 40% of the marketing budget goes into B2B exhibiting, and with median participation of 6 times B2B exhibitions per year.

- B2B exhibitions are most commonly used in the form of conferences and summits wherein companies (usually within a specific industry) showcase and demonstrate their new products and services. To expand the business of the trade fair, players are focused on acquiring more licenses. Messe Frankfurt is one of the world’s largest trade fair, congress, and event organizer with its exhibition grounds. With more than 2,500 employees at some 30 locations, the company generates annual sales of around EUR 661 million. In July 2019, Messe Frankfurt Trade Fairs India Pvt. Ltd., has acquired the license to organize the Indian edition of Busworld

- the world’s leading B2B exhibition for the bus and coach sector Busworld International CVBA. The agreement strengthens Messe Frankfurt’s position as the leading exhibition organizer for the mobility segment.

Further, in December 2019, SIAL Middle East (SIAL ME), the exclusive regional food, beverage, and hospitality trade event, was organized by Abu Dhabi National Exhibition Centre, where the SIAL Innovation Area focuses on promoting the world’s most innovative food products ADDPE (Abu Dhabi Date Palm Exhibition) is the world’s event for corporate collaboration in the sector of date palm fruits and provided the most significant international platform for exhibitions to showcase their products and boost their presence in the global market. The SIAL ME 5th edition of the exhibition featured 100 exhibitors specializing in date palm fruit products and 3,000 trade buyers from the Middle East region and facilitating many trade deals valued over AED 7.2 billion during the three-day event.

- Moreover, Abu Dhabi National Exhibitions Company (Adnec) has announced that Adnec and Al Ain Convention Centre (AACC), the UAE Capital’s leading event venues, contributed a whopping DHS 2.3 billion to the Abu Dhabi economy in just H1 2019, taking the company’s cumulative economic impact to DHS 34.3 billion. The increase was due to the successful International Defence Exhibition (IDEX) and the World Future Energy Summit (WFES), both held at Adnec. So, overall the emerging nations are significantly drawing market growth.

North America Accounts to Hold Significant Growth

- North America accounts to hold significant growth in the market owing to factors including the rise in the number of international and domestic trade visitors. The region accounts for the highest direct spending on the exhibition activities and represents the largest exhibitors. According to UFI global, North America had the highest number of exhibitors (1.6 million) and second-highest visitors (91.2 million) in 2019. Further, the United States B2B trade-show market, worth USD 13.7 billion in 2016, is forecasted to grow to USD 16.8 billion by 2021. This significantly holds the market value in the forecast period.

- There are currently over 10,000 trade shows held every year in the United States, where 1,282 are approx international exhibitions. Also, the highest number of events and exhibitions are held in New York. Further, the total economic output of Chicago in GMP totaled USD703.9B in 2018, making Chicago equivalent to the 20th largest economy in the world, just surpassing the total economic output of Switzerland through its 1066 Exhibitions in Chicago and expected that in 2020 the economic output would further increase (Chicago government).

- In 2019, IAAPA Expo 2019 was the largest international trade show for the amusements and attractions industry. The trade show was held for 1,000 exhibitors, spread over 570,000 net square feet of exhibition space featuring an array of professional development opportunities led by an industry leader with more than 1.16 billion people, and generated approx USD 52 billion in revenue.

- Further, the IoT Tech Expo conference series is continually evolving to meet the IoT ecosystem's demands. Bringing together content from hundreds of industry leaders, top-level sponsors, and innovative exhibitors showcase the latest use of IoT technology. The event will bring together 9000+ attendees from 70+ countries to explore the entire enterprise technology ecosystem across now, a co-located event covering IoT, Blockchain, AI & Big data, Cyber Security & Cloud, and the newest addition, 5G, to be held in November 2020, organized by TechEx.

- However, the impact of COVID-19 is affecting market growth currently. The Seafood Expo North America was postponed on 3 March 2020, from its original dates of 15 to 17 March due to health concerns and travel complications caused by the global COVID-19 coronavirus pandemic. Further, the two-day event is rescheduled in September 2020, as announced by the organizer Diversified Communications. This is impacting the current revenue generation and further concern for the upcoming events.

Competitive Landscape

The event & exhibition market is fragmented as there are various players, including a large number of regional companies and global companies. Further mergers and acquisitions have increased the competition catering to an intense rivalry in the market. Key players are Fiera Milano SpA, Deutsche Messe AG, etc. Recent developments in the market are -

- June 2020 - Fiera Milano announced that it is ready to open again from September 2020, to promote the economic recovery and support the growth and internationalization of enterprise. In collaboration with a team of experts, working in synergy with the major players in the sector, the company worked on preparing a “protocol for the containment of the spread of the new coronavirus.”

- January 2020 - Events organizer Comexposium has entered into exclusive discussions to acquire Europa Group. The Toulouse, the France-based company, oversees 50 conferences, including the Congress of the French Society of Ophthalmology. According to Compexposium officials, the proposed acquisition marks a continuation of Comexposium’s evolution into the rapidly-growing healthcare sector.

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