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Europe events market to hit $10bn in five years

The events and exhibitions market in Europe is set to be worth $10 billion USD within five years, according to a new report.

Research from Arizton Advisory & Intelligence reveals the industry is projected to expand at a CAGR of 3% by 2027, up from $8.5bn in 2021.

The report surveyed B2B, B2C and mixed exhibition markets across Europe. Industries covered included consumer goods and retail, hospitality, automotive and transportation and more.

It was found the tradeshow segment is anticipated to be worth $5bn in market value by 2027.   

What’s behind the figures?

There are some key forces driving exhibition growth in Europe:

  1. Growing use and adoption of big data analytics for live shows
    Exhibitions are leveraging the power of big data to create strategic marketing programmes and campaigns to drive growth. With more data available at the fingertips of organisers, exhibitions can be improved in terms of logistics planning, understanding audience pain points, boosting engagement, implementing feedback and generating leads.
  1. Demand for online marketplace
    Businesses across Europe have recognised the need to integrate a more connected approach to meet consumer and industry requirements. Exhibitions are now platforming their buyers and sellers onto year-round digital marketplaces through web and mobile solutions. These spaces abound with trade and networking opportunities and help promote exhibitions as a lucrative marketing medium, contributing to market growth.
  1. Enhancing customer experience by infusing digital tech with in-person
    Live shows have become smarter. This smart value is delivered to attendees and exhibitors in the form of digitally-enhanced in-person interactions. Organisers can exploit every touch point at the venue through real-time data analysis and use it to energise engagement, accelerate the sales pipeline and drive exhibition revenue.
  1. Success of Covid-19 vaccination programmes
    Covid-19 vaccination campaigns and easing of border restrictions have led people to trust face-to-face meetings again. Safety measures taken by venues have also boosted audience confidence in attending large exhibitions and tradeshows.

What does it mean for organisers?

The European meetings, incentives, conferences, exhibitions (MICE) industry is on an upwards growth path.

MICE tourism is expected to rise in the coming years to fulfil demand for business, academic and cultural goals. B2B exhibitions will be a major portion of this market, as they are powerful tools for companies to expand and grow.

Factors mentioned earlier show organisers’ exhibition strategies should focus on:

  1. 365 communities: Always-online event communities have emerged as a crucial tool to drive engagement, boost networking and nurture leads throughout the year. Allow your audience to explore new content, attend webinars, make connections and promote shows with your event community now.
  2. Online marketplaces: An online marketplace is a platform to connect your buyers and sellers all year round. Download the Marketplace Blueprint to find out how to set up your own.
  3. Smart Events: A Smart Event is a live show improved through technology. These tech enhancements increase value for all participants. Read our complete guide to Smart Events to find out how.
  4. Data control: Digital tech mean events are generating more attendee data than before. But who controls and uses this data? There have been fierce debates among industry leaders around whom should data control lie with – organisers or the event tech platform?Read this event data guide for organisersto stay on the right side.

We hope you enjoyed reading this article and found it useful. At ExpoPlatform, we want to help you build better events and communities. Please get in touch and ask for a demo here. Thank you.