Strategy
Steering the growth
wheel in India
EW hears from Indian Exhibition Industry Association President KV
Nagendra Prasad about strong growth and initiatives designed to capitalise
on some major opportunities in the country
ith the growth graph of
the exhibition industry
globally showing an
upward swing, hopes
are running high that the industry is
headed for a better future.
A recent study, ‘Global Exhibition
Market 2018-2023: Rising Demand
for Large Event Venues and Emerging
Growth Across Various Asian Nations’,
released by ResearchAndMarkets.com
claims the global market is projected
to display robust compound annual
growth rate of nearly 5% (4.97%)
during 2018-2023. This will be chiefly
driven by an increase in digitisation
and rising marketing services
spending of leading companies across
the globe.
Citing drivers like the rising
demand for large event venues
w w w.exhibitionworld.co.uk
and emerging growth across
various Asian nations, the report
also indicates the prevalence of
digitisation as one of the potent
growth drivers.
Among the regions, Asia Pacific is
expected to grow at the fastest rate,
mainly driven by an increasing shift
in the manufacturing base of leading
consumer electronics companies,
an increasing focus of international
companies and increasing initiatives
of governments to boost their
domestic industries.
Although fragmented in India,
the exhibition industry is headed
for unprecedented growth with
opportunities galore. And, with
the Indian government aligning its
policies towards economic growth
and making it easier to do business
and invest, as well as the country’s
purchasing power parity (PPP)
becoming the third largest in the
world, the Indian exhibition industry
has a lot to bank on.
“The key
challenge
the industry
faces in
India is
a lack of
exhibition
space”.
Opportunity shines
In recent times, there has been an
increase in the frequency of both new
tradeshows and upcoming events.
The growth is also attracting new
investors and players from allied
industries.
The sun also seems to be shining
more brightly on the Indian shore, as
the country’s exhibition industry is
growing fast, now boasting an annual
frequency of 800+ major tradeshows
with a growth rate of 10% per annum
(as per IEIA’s independent study of
the Indian exhibition industry in
Issue 3 2019
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