Celebrating Success
Published on : Friday 02-12-2022
As the year draws to an end, one of the biggest gains of 2022 is the rebounding of the trade fairs industry.
While the Covid pandemic that broke out in early 2020 impacted the entire world and all spheres of business, it was the events industry that took the biggest hit. An industry estimate shows a contraction of 68% in the global exhibition industry in 2020, leading to a grand total of $330 billion in lost trade amongst attending exhibitors. After the initial shock, organisers used technology to first organise digital events, and as the pandemic started showing signs of waning, hybrid events were also held with mixed success. The same survey also indicated that 95% of the industry professionals said they prefer in-person events over virtual or hybrid shows. The later half of 2022 witnessed some landmark shows returning, beginning with the Hannover Messe which was held in late May/early June 2022. Shows like Bi-Mu, Milan, K 2022 in Dusseldorf and bauma 2022 in Munich attracted record crowds in October. November witnessed more shows in Germany including SPS, electronica and Formnext, all reporting enthusiastic support from visitors, domestic and international. It may be pertinent to note that Automation Expo 2022, held in mid-August this year, was also a huge success. All this augurs well for the industry.
Process industries, traditionally high on the automation adoption curve, were a little slow in embracing digital transformation due to a host of factors. Today, these are under pressure from fluctuating commodity prices, decreased capital expenditures and increased competition, to cite a few reasons. As the world is passing through a serious energy crisis and facing pressure on the sustainability front, digital transformation could offer many solutions. The cover story of this edition of Industrial Automation has some interesting perspectives on the subject, along with some articles complementing the theme.
