MICE Industry Market - Forecast(2023 - 2028)

MICE Industry Market size is estimated to reach $1,780 million by 2026, growing at a CAGR of 6.1% over 2021-2026. MICE Industry is a type of tourism services where organizers and suppliers manage & deliver meetings, seminars, exhibitions, and other events. MICE event organizers provide different services such as show displays, brand promotion, on-site event logistics and staffing, supplier management, virtual meetings, and risk management services. This industry also offers services in luxury tourism that provides medical facilities services. Increasing number of corporate meetings and events from the business sectors and growing acceptance of online travel agencies are the major factors driving the growth of this market. Furthermore, rising disposal income and increasing investments in the development of infrastructure and technological advancements is set to further enhance the overall market demand for MICE Industry Market for the period 2021-2026.

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MICE Industry Market Report Coverage

The report: “MICE Industry Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the MICE Industry Market.   
By Type: Meetings, Incentives, Conventions, and Exhibitions
By Application: Academic Field, Business Field, and Political Field
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others), and Rest of the World (Middle East, Africa)


Key Takeaways

• Geographically, in 2020, North America dominated the MICE Industry Market owing to increasing attraction towards MICE tourism industry and rising trends of social networking platform.
• Increasing number of corporate meetings and events from the business sectors and growing acceptance of online travel agencies are likely to aid in the market growth of the MICE Industry. 
• Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the MICE Industry Market report.  
• High cost associated with MICE events and uncertain global geopolitical conditions is set to create hurdles for the MICE Industry Market.  


MICE Industry Market Challenges

High Cost Associated with MICE Events

The factors that is set to impede the growth of the MICE Industry Market are the high cost associated with MICE events. Moreover, uncertain global geopolitical conditions is set to create hurdles for the MICE Industry Market. 


MICE Industry Market Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the MICE Industry Market. MICE Industry top 10 companies include, Maritz,  IBTM Events, Capital Travel and Events, BCD Meetings and Events, Conference Care Ltd., CiEvents, Questex, LLC, ATPI Ltd., The Freeman Company, Interpublic Group of Companies, Inc., and CWT Meetings & Events.

Developments

In August 2019, Caribbean Meeting & Incentive travel Exchange (CMITE) recently organized event to increase the development in business tourism and increases the brand promotion. 

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