Chicago, March 29, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, incorporation of big data across Europe events and exhibitions market is gaining high traction. Big players in the market are establishing their businesses by using big data as their core asset. For instance, Cvent, one of the leaders in meetings, events, and travel technology, has launched a free tool called Group Business Trends to provide a customizable, in-depth report by benchmarking the performance of business with qualifying competitors using their big data.
Europe Events and Exhibitions Market Report Scope
| Report Attributes | Details | |
| Market Size (Revenue) | $10 Billion (2027) | |
| Market Size (Unit Shipment) | 296 Million Sq. Ft (2027) | |
| CAGR (2022-2027) | 3% | |
| Base Year (2021-2027) | 2021 | |
| Forecast Year | 2022-2027 | |
| Market Segments | Exhibition Type, Revenue Stream, Industry Type, and Country | |
| Geographical Analysis | Europe | |
| Countries Covered | Germany, France, UK, Turkey, Italy, Spain, Russia, Sweden, and Netherlands | |
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Rising Demand for Digital Marketplace
During COVID-19 pandemic, the exhibitions and events industry paused globally. In 2020 and 2021, exhibition companies in the European region canceled numerous in-person events and alternatively explored digital platforms. Around 69% of exhibition organizations in Spain and 56% in UK upgraded their existing exhibition to digital platforms.
Businesses in Europe are anticipating that events would integrate more digital fundamentals in the coming years to meet consumer and industry requirements. It is an opportunity for the enterprises and trade promotion organizations to leap forward the method of offline entity promotion and expand the market with new intellectual and new means.
Emerging Trend of Big Data
Exhibition organizers are looking for big data to provide valuable business intelligence to help them stay ahead in the competition by delivering better logistics planning, increasing sponsorships and exhibition participation. Several event and exhibition organizations are increasing efficiency and reducing the cost of acquiring information by using big data. Exhibitors can identify various mediums that are best suited for reaching their target audience. It even allows them to check advertisements that have worked for them in the past, thereby increasing their return on investment.
Analytics is increasingly being used to improve revenues and attendance at exhibitions, and this has given rise to companies such as SmartXpo, which offer solutions to provide actionable insights.
“Reed Exhibitions” is one of the world’s leading trade show companies, which uses big data analytics to identify the unique needs of exhibitors and find innovative ways of enhancing customer experience and retention.
Success Of Covid-19 Vaccination Programs
Within the admittance to COVID-19 tools accelerator (ACT Accelerator), WHO partners, together with vaccine manufacturers, formed the COVAX facility, focusing on quickening reasonable access to COVID-19 vaccines. Due to high success rate of vaccination campaign in Europe, the region has announced new measures to lessen and streamline COVID restrictions.
Events and exhibitions in Barcelona have revitalized with a boom after the COVID-19 pandemic. According to the Swedish Exhibition & Congress Center and Gothia Towers, the country’s largest trade fair organizer has taken a certification procedure to protect the superiority of their infection control procedures for COVID-19. The ease in COVID-19 restrictions and the increasing number of vaccination doses administered are anticipated to accelerate the exhibitions and events market during the forecast period.
Fairs have been a very important part of European trade
B2B exhibition has developed from a long historical tradition, which mainly influenced the economic rise of modern Europe and the increase of trade between Europe and the East. Companies are widely using B2B fairs for marketing their products and services around the world. Which in turn, has helped them to expand their business domestically and internationally. Governments in open economies are encouraging trade between countries, and this is the best platform to showcase what they have for other countries. Moreover, companies can establish strong networks, which can help them in the future. The B2B exhibitions & events market in Europe is expected to reach $5 billion by 2027.
Competitive Analysis
In recent years, the economic situation in exhibition market in Europe is intensified. Rapid competitive development and new entrants are adversely affecting the competitiveness of the existing vendors. The current scenario is pushing vendors to adapt and improve their unique value propositions and deliver competitive contracts to their customers to maintain a strong market presence. Large vendors are actively fighting for the leading position in the market, with sporadic competitive spurts coming from other local vendors.
Arizton believes global players will inorganically develop in the future by acquiring national or local players. Also, rivalry among enterprises is anticipated to intensify in the future. These players will compete on various factors such as size, quality of service, availability of capacity, and brand.
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