Meetings, incentives, conferences and exhibitions (MICE) is a type of tourism in which large groups, usually planned well in advance, are brought together for a particular purpose. The purpose can be a meeting, conference, exhibition, product launch or incentive travel, among others. MICE tourism is often used by businesses, governments and organizations as a means to achieve a variety of goals such as knowledge sharing, team building, networking and promotion.
The meetings, incentives, conferences and exhibitions (MICE) market consists of sales of MICE services by entities (organizations, sole traders and partnerships) that offer services related to organizing and hosting meetings, incentives, conferences and exhibitions.
The global mice market was valued at $667,845.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.0%.
Increase In Business Activities
The increase in business activities drove the growth of the meetings, incentives, conferences and exhibitions (MICE) market. The rising number of corporates across the globe has led to high frequency of business activities such as client meetings and brand promotions worldwide. For instance, according to a report published by Cities Restart Limited, a UK-based public policy organization, the total expenditure on global conferences and business events is estimated to reach £27.6 billion ($34.6 billion), reflecting a significant increase of 43% by 2026. Overall, expenditure on global conferences and business events plays a vital role in driving the MICE market by stimulating economic activity, fostering business connections, promoting destination development and facilitating knowledge exchange and innovation. Therefore, the increase in business activities supported the growth of the meetings, incentives, conferences and exhibitions (MICE) market.
Launch Of Cutting-Edge Technology Centers To Deliver Innovative Services
Companies operating in the MICE market are launching cutting-edge technology centers to provide innovative serves to customers. 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 a new cutting-edge technology center 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 multigenerational, diverse workforce, driving collaboration, enabling design thinking and delivering measurable technology solutions.
The global meetings, incentives, conferences and exhibitions (MICE) market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 1.01% of the total market in 2022.
Meetings, Incentives, Conferences And Exhibitions (MICE) Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global meetings, incentives, conferences and exhibitions (MICE) market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for meetings, incentives, conferences and exhibitions (MICE)? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The meetings, incentives, conferences and exhibitions (MICE) market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider meetings, incentives, conferences and exhibitions (MICE) market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by event type, by service type, by application, by end-user and by organization type.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the meetings, incentives, conferences and exhibitions (MICE) market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by event type, by service type, by application, by end-user and by organization type in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for meetings, incentives, conferences and exhibitions (MICE) providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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 Organization Type: Large Enterprises; SME Enterprises
- 4) By Application: E- Academic Field; Business Field; Political Field; Exhibitions; Other Applications
- 5) By End-User: Associations; Government; Oil And Gas; Entertainment; Sports; Consulting And Professional Services; Technology And Telecommunications; Construction; Finance and Insurance; Healthcare And Pharmaceuticals; Education And Academia; Retail; Manufacturing And Mining; Other End Users
- Companies Mentioned: Expedia Group Inc.; ATPI Ltd.; Maritz Holdings Inc.; Flight Centre Travel Group; Italia Trasporto Aereo S.p.A.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; meetings, incentives, conferences and exhibitions (MICE) indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.