Global Convention and Exhibition Market Size Likely to Surpass at a CAGR of 5.1% By 2033

As per the current market research conducted by the CMI Team, the global Convention and Exhibition Market size is expected to record a CAGR of 5.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 61,184.2 Million. By 2033, the valuation is anticipated to reach USD 95,733.4 Million.

Convention and Exhibition Market: Growth Factors and Dynamics

• Economic Growth and Globalization: Economic growth and globalization have significantly contributed to the expansion of the convention and exhibition market. As economies grow, businesses seek opportunities to expand their networks, showcase products, and access new markets. Globalization has facilitated cross-border trade and investment, leading to an increase in international conventions and exhibitions.

• Technological Advancements: Technological advancements have revolutionized the convention and exhibition industry, enabling organizers to enhance attendee experiences, streamline event management, and reach a wider audience. Technologies such as virtual reality (VR), augmented reality (AR), live streaming, and mobile apps have transformed how events are planned, executed, and experienced, driving growth and innovation in the market.

• Industry Diversification and Specialization: The convention and exhibition market has witnessed increasing diversification and specialization across various industries and sectors. Organizers are catering to niche markets and specific interests, leading to a proliferation of industry-specific events such as technology expos, healthcare conferences, and automotive trade shows. This trend has fueled growth by providing targeted platforms for networking, knowledge sharing, and business opportunities.

• Changing Consumer Preferences: Changing consumer preferences and expectations have influenced the dynamics of the convention and exhibition market. Attendees seek immersive and interactive experiences, personalized content, and networking opportunities tailored to their interests and needs. Organizers are responding by incorporating experiential elements, curated content, and networking features to enhance attendee engagement and satisfaction, driving growth in attendance and revenue.

• Sustainability and Green Initiatives: Sustainability and green initiatives have become increasingly important in the convention and exhibition market. With growing awareness of environmental issues, stakeholders are adopting eco-friendly practices, reducing waste, and minimizing carbon footprints associated with events. Sustainable venues, green technologies, and eco-friendly exhibitor practices are gaining traction, attracting environmentally conscious attendees and exhibitors and contributing to the market’s growth.

• Emergence of Hybrid and Virtual Events: The emergence of hybrid and virtual events has reshaped the convention and exhibition market, offering new opportunities for engagement and accessibility. Hybrid events combine in-person and virtual components, allowing attendees to participate remotely and expanding the reach of events beyond physical boundaries.

Convention and Exhibition Market: Partnership and Acquisitions

• In 2023, The Orange County Convention Center (OCCC) and Walt Disney World inked a Gold Key Partnership, offering exclusive benefits for corporate events, trade shows, and attendees. It aims to enhance exposure via marketing channels, enable off-site events, and cultivate relationships.

• In 2022, Flash Entertainment, based in the UAE, expanded with a standalone office in Riyadh, Saudi Arabia, aligning with the Kingdom’s burgeoning events and leisure sector. The move aims to contribute to industry development, economic diversification, and Saudization goals in Saudi Arabia’s growing entertainment industry.

Report Scope

Convention and Exhibition Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Convention and Exhibition Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Cancellations and Postponements: The COVID-19 pandemic led to widespread cancellations and postponements of conventions, exhibitions, and trade shows worldwide due to health concerns and government-imposed restrictions on large gatherings. This resulted in significant revenue losses for event organizers, exhibitors, and venue operators, as well as disruption to supply chains and business networks.

• Shift to Virtual and Hybrid Events: To adapt to the challenges posed by the pandemic, many convention and exhibition organizers pivoted to virtual and hybrid event formats, leveraging digital platforms to host online conferences, expos, and networking sessions. While virtual events provided a way to maintain engagement and connectivity during lockdowns and travel restrictions, they also presented technical and logistical challenges and lacked the same level of interaction and networking opportunities as in-person gatherings.

• Gradual Return to In-Person Events: With the rollout of vaccines and easing of restrictions, the convention and exhibition market is expected to see a gradual return to in-person events. Organizers are likely to implement health and safety protocols such as enhanced cleaning, social distancing measures, and vaccination requirements to reassure attendees and exhibitors and mitigate the risk of transmission.

• Hybrid Event Models: Hybrid event models, combining in-person and virtual components, are anticipated to become increasingly prevalent as the industry recovers from COVID-19. This hybrid approach allows for greater flexibility and inclusivity, catering to both local and remote participants and extending the reach of events beyond geographical boundaries. Hybrid events also provide a contingency plan in case of future disruptions or health concerns.

• Focus on Health and Safety: Health and safety will remain a top priority for convention and exhibition organizers post-COVID-19. Enhanced hygiene protocols, contactless registration and check-in procedures, temperature screenings, and crowd management strategies will be implemented to ensure the safety of attendees, exhibitors, and staff.

• Rebuilding Trust and Confidence: Rebuilding trust and confidence among stakeholders is crucial for the recovery of the convention and exhibition market. Organizers will need to communicate transparently about their safety measures, refund policies, and contingency plans to reassure participants and alleviate concerns about attending in-person events.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Convention and Exhibition Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Convention and Exhibition Market:

• Reed Exhibitions Limited
• Informa PLC
• Messe Frankfurt GmbH
• UBM plc (now part of Informa)
• Emerald Expositions Events Inc.
• ITE Group plc (now Hyve Group plc)
• Koelnmesse GmbH
• Fiera Milano SpA
• Tarsus Group plc
• Messe Düsseldorf GmbH
• GL Events SA
• Comexposium Group (part of Artexis Easyfairs)
• Hannover Messe International GmbH
• Tokyo Big Sight Inc.
• Deutsche Messe AG
• Others

The Convention and Exhibition Market is segmented as follows:

By Event Type

• Trade Shows
• Conferences
• Seminars and Workshops
• Expos
• Product Launches
• Networking Events

By Target Audience

• Business Professionals (B2B)
• Consumers (B2C)
• Others

By Technology Adoption

• Traditional Events
• Technology-Enhanced Events
• Virtual Events

By Revenue Model

• Paid Events
• Free Events with Sponsorship
• Freemium Model
• Subscription-based Models

By Industry

• Technology
• Healthcare
• Automotive
• Fashion and Apparel
• Consumer Electronics
• Food and Beverage
• Finance and Banking
• Manufacturing
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America