How has the meetings, incentives, conferences, and exhibitions (mice) market evolved, and where is it heading next?
The meetings, incentives, conferences, and exhibitions (MICE) market size has grown strongly in recent years. It will grow from $978.77 billion in 2024 to $1063.83 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. 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.
The meetings, incentives, conferences, and exhibitions (MICE) market size is expected to see strong growth in the next few years. It will grow to $1462.64 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing interconnectedness of businesses globally, increasing expansion and developments of various businesses, growing popularity of virtual meetings among businesses, economic development and tourism promotion, the increase in business trips worldwide. Major trends in the forecast period include integration of cutting-edge technology, advancements in medical and scientific fields, the rise in social media advertisements related to organizing corporate, organizer focus on adoption of latest technology, growing business opportunities.
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Which major factors have contributed to the expansion of the meetings, incentives, conferences, and exhibitions (mice) market?
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.
How is the meetings, incentives, conferences, and exhibitions (mice) market segmented?
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
Subsegments:
1) By Meetings: Corporate Meetings, Board Meetings, Team-Building Meetings, Product Launch Meetings
2) By Incentives: Employee Reward Programs, Sales Incentives Trips, Team-Building Retreats, Travel Incentives For Performance
3) By Conferences: Industry Conferences, Academic Conferences, Trade Conferences, Business Seminars
4) By Events: Exhibitions And Trade Shows, Product Launches, Award Ceremonies, Networking Events
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Who are the top competitors in the meetings, incentives, conferences, and exhibitions (mice) market?
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
Which key trends are expected to influence the meetings, incentives, conferences, and exhibitions (mice) market in the coming years?
Major companies operating in the MICE market are developing innovative technology, such as cutting-edge technology centers, to better serve their customers. A cutting-edge technology center refers to a facility that focuses on developing and delivering innovative solutions using the latest and most advanced technologies. For instance, in October 2022, BI Worldwide Ltd., a US-based global engagement agency that provides market-leading employee engagement, event management and sales, and channel incentive travel, launched cutting-edge technology centers to provide better services and solutions to clients. The center is designed to deliver innovative solutions for loyalty and engagement, enhancing the company’s technological capabilities. It is designed to suit a multi-generational, diverse workforce, driving collaboration, enabling design thinking, and delivering measurable technology solutions.
Which regional trends are influencing the meetings, incentives, conferences, and exhibitions (mice) market, and which area dominates the industry?
Asia-Pacific was the largest region in the meetings, incentives, conferences, and exhibitions (MICE) market in 2024. 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.
What Does The Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Report 2025 Offer?
The meetings, incentives, conferences, and exhibitions (mice) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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