It is growth that happens by multiplying rather than adding.
Consider linear growth that adds 10 & exponential growth that multiplies by 2:
Linear(+10):
10,20,30,40,50,...
Exponential(x2):
1,2,4,8,16,32,....
(Continues...) 1/
Exponential growth...
2048,
4096,
8192,
16,384
32,768
65,536
131,072
262,144
524,288
1,048,576=2^20
To More than a Million! 2/