Way Forward Prepared by Market Insight Consultants A
Way Forward Prepared by Market Insight Consultants (A division of Tomorrow’s Market Innovators Private Limited
CONVERGE & CONNECT Annual International Conclave of the Indian Exhibition Industry Theme
Way Forward New Challenges Global Exhibition Industry & Trends Indian Exhibition Industry and Ecosystem
Indian Exhibition Industry o o o In India nearly 750 National and International Exhibitions are being held every year and additionally 6, 000 regional/local exhibition Indian Exhibition Industry size is about INR 250, 000 Mn Exhibition Industry in India creates 15, 000 direct employment and nearly 60, 000 indirect employment Indian exhibition Industry grew by 7. 7% during 2016 and is expected to expand 7% to 8% in 2018 & 2019 respectively With upgrades and expansion of infrastructure, India will post double digit growth rates for coming consecutive years o Net space sold increased from over 990, 000 m 2 in 2105 to nearly 1, 100, 000 m 2 in 2016 o India is third largest trade fair market after China and Japan in Asia o In the last five years, India’s trade fair market grew by over 31% ahead of regional average of 27%
Indian Exhibition Industry o o o Indian Exhibition Industry is highly fragmented About 30% of the market (based on sq. mt. with an average show size of 6 k sq. mt. ) is with Domestic Organizers Markets are changing continuously, becoming very dynamic, customer expectations are growing and hence making it more challenging for the organizers On the other hand, India is one of the fastest growing markets in the world (with an average of about 7% GDP growth and likely to be come US$ 5. 00 Trillion economy by 2025) This opens up a huge opportunity to the Indian Exhibition Industry (direct correlation with the economic growth) One of the ways to harness the opportunity is by strengthening ones capability to serve this demand by adapting and collaborating
India’s Growth Story • Fastest Growing Economy @ 7. 4% which is about $2. 6 T • Top Investment Destination (2014 -2017) - $209 Billion • Indian Population by 2025 – 1. 5 Billion • Average Age by 2025 – 29 Years • India will be youngest Nation by 2050 on the planet
India’s Growth Story Government initiatives that will drive the growth in India : � Mission India – Inclusion for growth ◦ Digital India – 481 Mn Internet Subscriber ◦ Make In India – $4. 8 Trillion market opportunity with focus on 25 sectors ◦ Jan Dhan Yojana – 1 Billion bank Accounts (312 Mn Added in last 3 years) ◦ Start-up India – Fastest growing in Metro Cities but soon will move to B class towns ◦ Aadhaar – 1. 2 Billion enrolments ◦ Mobile phones – 1. 19 Billions Mobile subscribers � Policy changes ◦ FDI / GST / Companies Act / IPR / Permanent Residency / e. Biz Portal / Bankruptcy code
Global Exhibition Industry ◦ Exhibition brings large number of potential customers to one place at one time ◦ Across the globe about 31, 000 International Exhibition are organized every year, which attracts over 260 Mn visitors every year ◦ Global Exhibition Industry size is INR 75, 000 bn & creates more than 688, 000 full time employment ◦ There are 1, 197 Exhibition venues ◦ Around 4. 4 Mn companies exhibit every year
Global Trends The stable core Safety and Security Talent and Skills Data / Digital Evolution of Format Stable Core � Global Investment into venue space Data/Digital � Digitising the exhibitions, Digitising companies, New digital business Format � Exhibitions are same but format is different Talent and Skills � Quality of Infrastructure is worthless without quality of staff � Certified staff support quality of any exhibition Safety and Security � Ease of access, safe passage, Security on site
Business Challenges � � � Trade policies across the boundaries Knowledge and Technology transfer Adaptability Lack of government Support (improving in India now) Cyber Security Digital Infrastructure Ease of Visa process Man Power Availability of Venues Safety & Security Capital Funds
Way Forward - Collaborating for the Success � � � Infrastructure – Upgrade/Expand, Become future ready, Scalable offering, Multipurpose facilities, Visitor focus design, Hotel and Restaurants readily available Government – Favourable government policies, Encourage FDI, Ease foreign exhibitors and attendee participation, Facilitate quick and easy visa process Education/Training – CEM participation and expansion, Additional educational and networking offering (IEIA, IAEE, UFI), Enhance technical knowledge, visitors/customers focus etiquettes Technology – Invest in “Future ready” technologies, Enhance digital solutions, WI-FI bandwidth expansion, Virtual realty and Augmented realty Customer Focus – Competitive Analysis, Understand millennial trend, adopt cutting edge sales and marketing techniques, Develop and execute “Buy India Exhibition Industry” campaign
Way Forward - Collaborating for the Success � Collaborating between Regional, National, International bodies (more of Reciprocity Agreements, delegations, knowledge exchange programs, co-working) � Audit of the shows by third party � Help the industry to be prepared for VUCA world � Safety and Security norms / guidelines for the exhibitions � � Cyber security awareness and steps to be taken by organizers to help protect data of participants Promote CSR initiatives and Greener shows
Way Forward - Collaborating for the Success � Skill and capability enhancement programs � Reaching out to students at colleges to attract talent to the industry � For the exhibitors - Improve content of the show, engaging events keeping millennial in mind
Thank You
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