B2B Exhibitions Market in US - Industry Outlook and Forecast 2018-2023
This market research report on the B2B exhibitions market in US offers analysis on market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by industry sector (consumer goods and retail, AFF and energy, medical and healthcare, business services, machinery, IT, electronics, and telecommunications, and others) and offers detailed competitive analysis.
B2B Exhibitions Market in US - Overview
The US region is the largest market for trade shows in the global exhibitions market. The size of the US economy and the significant growth in the GDP YoY are contributing to the growth of the B2B exhibitions market in US. The improvements in the corporate profits and the increase in the number of domestic travels are boosting the demand for B2B exhibitions market in the US. Exhibitors are looking to increase their stall sizes, and vendors are increasing pricing of stalls and venue spaces to improve margins and recover from increasing labor costs. The development of the US economy and demand for upgrades and modifications are likely to drive the B2B exhibitions market in US during the forecast period. The increasing implementation of technologies on a substantial scale to keep the relevance of exhibitions is likely to help companies to market and sell their products and services to a wide customer base.
The adoption of technology will create new potentials for vendors in the B2B exhibitions market in US and create an environment conducive to business growth. Expedia's recently launched automated online booking engine for the MICE market resulted in simplifying the RFP process for small-to-medium-sized events.
The B2B exhibitions market in US is expected to reach $16 billion by 2023, growing at a CAGR close to 4% during the forecast period.
B2B Exhibitions Market in US - Dynamics
The growing prominence of carbon-neutral trade shows is augmenting development in the B2B exhibitions market in US. By organizing carbon neutral trade shows, the exhibitions industry is aiming to do its best in battling climate change and reducing environmental pollution. Organizers and exhibitors in the exhibitions market in US are focusing on reducing the carbon footprint by improving their sustainable sourcing, reducing greenhouse gas emissions, and creating zero waste events. The incorporation of green practices by using recycling and using renewable energy sources will enable organizers to set new business practices in the B2B exhibitions market in US during the forecast period.
B2B Exhibitions Market in US - Segmentation
This market research report includes a detailed segmentation of the market by industry sectors.
B2B Exhibitions Market in the US – Industry Sector
Consumer goods and retail industries will occupy the largest market share in the B2B exhibitions market in US during the forecast period
The B2B exhibitions market in US by industry sectors is divided into seven major categories: consumer goods and retail, AFF and energy, medical and healthcare, business services, machinery, IT, electronics, and telecommunications, and others.
The consumer goods and retail industry in the B2B exhibitions market accounted for close to 18% of the total market share in 2017. The consumer goods and retail industry sector rented around 10.32 million sq mtrs in 2017. Cities such as Chicago, New York, Philadelphia and the state of Utah and Las Vegas are most popular places that hold trade shows for consumer goods and the retail industry sector. The vendors in the B2B exhibitions market in the US are focusing on implementing digital technology and offer innovation for further development within the space of the exhibition. Such initiatives to attract new retailers will propel the growth of this market segment in the B2B exhibitions market in the US during the forecast period.
Top 10 destinations for exhibitions in North America 2017
The key cities mentioned in the report:
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