Overview and Scope
Meetings, Incentives, Conferences, and Exhibitions (MICE) is a part of the tourism and events industry in which large groups, typically linked by a common interest or purpose, gather for meetings, conferences, exhibitions, or incentive travel programs. It plays a significant role in the global economy, as it encompasses a wide range of events that contribute to business development, knowledge sharing, networking, and tourism.
Sizing and Forecast
The meetings, incentives, conferences, and exhibitions (MICE) market size has grown strongly in recent years. It will grow from $876.94 billion in 2023 to $962 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to growing business networking and knowledge sharing, demand for industry-specific conferences and exhibitions, increasing incentive programs and corporate events, rising meeting and events industry, growing change in consumer preferences.
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Segmentation & Regional Insights
The meetings, incentives, conferences, and exhibitions (mice) market covered in this report is segmented –
1) By Event Type: Meetings, Incentives, Conferences, Events
2) By Service Type: Event Planning And Organization, Venue Management, Accommodation Services, Food And Beverage Services
3) By Application: Academic Field, Business Field, Political Field, Exhibitions, Other Applications
4) By End-User: Corporate, Government, Association
Asia-Pacific was the largest region in the meetings, incentives, conferences, and exhibitions (MICE) market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the meetings, incentives, conferences, and exhibitions (mice) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in business trips worldwide is expected to propel the growth of the meetings, incentives, conferences, and exhibitions (MICE) market going forward. Business trips refer to the practice of employees or professionals traveling to other locations or cities on behalf of their company to conduct work-related activities, such as meetings, conferences, client visits, and other business purposes. MICE events provide excellent networking opportunities for business trips by offering a platform for individuals to connect with industry peers, potential clients, suppliers, and partners from around the world. For instance, in August 2023, according to the Global Business Travel Association, a US-based business travel and meetings organization, global spending on business travel increased by 47% to $1.03 trillion in 2022, and considerable growth is predicted in 2023, with a 32% growth rate. Therefore, the increase in business trips worldwide is driving the growth of the MICE market.
Key Industry Players
Major companies operating in the meetings, incentives, conferences, and exhibitions (mice) market report are Capita plc, The Freeman Company, American Express Company, Maritz Global Events, ATPI Ltd., FCM Meetings & Events, Aviareps AG, MCI Group, ITA Group , Creative Group Inc., One10 LLC, BCD Meetings & Events, Meetings and Incentives Worldwide Inc., Itl World Company (Miceminds), Questex, Conference Care Ltd., CWT Meetings & Events, Ci Events, Grass Roots Meetings & Events, International Marketing Corporation Pvt Ltd, Beyond Summits Ltd., Cambria DMC, Carlson Wagonlit Travel, BESynergy, Flight Centre Travel Group Limited , Global Cynergies LLC
The meetings, incentives, conferences, and exhibitions (mice) market report table of contents includes:
1. Executive Summary
- Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Characteristics
- Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Trends And Strategies
- Meetings, Incentives, Conferences, And Exhibitions (MICE) Market – Macro Economic Scenario
- Global Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Size and Growth
…..
- Global Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Competitive Benchmarking
- Global Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Competitive Dashboard
- Key Mergers And Acquisitions In The Meetings, Incentives, Conferences, And Exhibitions (MICE) Market
- Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Future Outlook and Potential Analysis
- Appendix
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