LONDON--(BUSINESS WIRE)--The exhibition organizing market size is poised to grow at a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Several factors contribute to the growth of the GDP of the host country, such as taxes paid to the government, the use of local suppliers, and the procurement of products and services from the local market. For instance, in 2016, the exhibition organizing market in Hong Kong contributed 2.13% to the total GDP of the country. Further, exhibitions and trade fairs employ individuals to serve the attendees. This helps to create jobs in various industries such as hotels, restaurants, airlines, retail, and entertainment which directly contributes to the economy. Thus, the contribution of exhibitions toward GDP and employment is one of the major factors behind the growth of the exhibition organizing market.
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As per Technavio, the growing use of social media by exhibition organizers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Exhibiting Organizing Market: Growing Use of Social Media by Exhibition Organizers
The use of social media channels such as Facebook, Twitter, LinkedIn, Google+, WhatsApp, and YouTube by exhibition organizers for campaigns and event invitations is increasing significantly.. For instance, Reed Exhibitions, a subsidiary of RELX Group plc, extensively uses social media platform for promotions, branding, and event invitations. Some of the most popular methods used by exhibition organizers include the use of Facebook basics, viral videos, and event hashtags, targeting communities through LinkedIn, and popularizing the exhibition either through stories, pictures, or videos. Major players in the exhibition organizing market also use social media analytics tools to analyze the performance and audience reach of their event to enhance the subsequent events.
“Other factors such as the introduction of low-cost airlines, and increased use of guest data for personalized services will have a significant impact on the growth of the exhibiting organizing market value during the forecast period,” says a senior analyst at Technavio.
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Exhibiting Organizing Market: Segmentation Analysis
This market research report segments the exhibiting organizing market by size of venue (5,000-20,000 sqm, 20,000-1,00,000 sqm, and more than 1,00,000 sqm) and geography (APAC, North America, Europe, MEA, and South America).
The North American region held the largest share of the market in 2018, followed by Europe, APAC, MEA, and South America respectively. The growth of the exhibiting organizing market share in North America can be attributed to the higher number of exhibition venues in the region as compared to the other regions.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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