The Meetings, Incentives, Conferences, And Exhibitions (MICE) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Meetings, Incentives, Conferences, And Exhibitions (MICE) Global Market Report 2024, The meetings, incentives, conferences, and exhibitions (MICE) market size is expected to see strong growth in the next few years. It will grow to $1,336.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. 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.
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.
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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
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
The meetings, incentives, conferences, and exhibitions (mice) market report table of contents includes:
1. Executive Summary
2. Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Characteristics
3. Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Trends And Strategies
4. Meetings, Incentives, Conferences, And Exhibitions (MICE) Market – Macro Economic Scenario
5. Global Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Size and Growth
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26. South America Meetings, Incentives, Conferences, And Exhibitions (MICE) Market
27. Brazil Meetings, Incentives, Conferences, And Exhibitions (MICE) Market
28. Middle East Meetings, Incentives, Conferences, And Exhibitions (MICE) Market
29. Africa Meetings, Incentives, Conferences, And Exhibitions (MICE) Market
30. Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Competitive Landscape And Company Profiles
Top Major Players:
- Capita plc
- The Freeman Company
- American Express Company
- Maritz Global Events
- ATPI Ltd
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