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Global MICE Industry Market Share, Size, Growth, Analysis: By Event Type: Meetings, Conferences, Exhibitions, Incentives; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global MICE Industry Market Outlook
The global MICE industry market size was around USD 783.7 billion in 2023. The market is estimated to grow at a CAGR of 6.7% during 2024-2032 to reach a value of USD 1,407.45 billion by 2032.
Key Takeaways
- Investments in infrastructure development, such as the construction of modern event spaces, upgraded transportation systems, and improved communication networks, are playing a significant role in the expansion of the MICE market.
- The adoption of technology such as virtual reality is helping organisers create more engaging and interactive events, including product launches and business conferences.
- Event organisers are increasingly adopting eco-friendly practices to minimise environmental impact and promote social responsibility.
Meetings, Incentives, Conferences, and Exhibitions, or MICE events, are primarily designed to provide a forum for networking among the corporate, industrial, government, and academic communities to foster economic growth.
According to the 2019 International Congress and Convention Association's (ICCA) Country and City Rankings, with 934 meetings out of 13,254, the USA was the top country to conduct international association meetings, globally.
The MICE sector benefits from robust infrastructure, including an extensive transportation network and well-established facilities such as hotels, conference centres, and theatres. Prominent convention centres in the world include Hannover Messe (Germany), The National Exhibition and Convention Center (China), and Fiera Milano (Italy).
MICE event planners use event management software to streamline processes and increase efficiency and cost-effectiveness. Organisers can handle multiple parts of an event, such as registration, ticketing, and marketing using the software.
Key Trends and Developments
Rising sustainability concerns; growing technological advancements; favourable government initiatives; and increasing investment in infrastructure development are the major trends in the MICE industry market
| Date | Company | Event |
| Aug 2023 | CSI DMC | CSI DMC successfully expanded its operations into Arizona, adding to its portfolio of destinations for transforming events into exceptional experiences. |
| Jul 2023 | Creative Group | Creative Group unveiled a new turnkey corporate gifting solution aimed at helping businesses enhance brand value and foster connections. |
| Jan 2023 | ITA Group | ITA Group successfully completed the acquisition of HTK Limited, a cloud-based software-as-a-service (SaaS) provider based in Ipswich, England. |
| Nov 2022 | ITA Group | ITA Group expanded its operations in the Asia-Pacific (APAC) region through a strategic partnership with PRM Marketing Services (PRMMS), based in Singapore. |
| Trends | Impact |
| Increasing globalisation | MICE events facilitate networking and business partnerships. Increasing globalisation and cross-border collaborations among companies provide opportunities for international MICE events. |
| Infrastructural development boosting MICE tourism | MICE tourism is tourism related to meetings, incentives, conferences, and exhibitions. Countries, such as the USA with good infrastructure, including a robust transportation network and well-developed venues such as hotels, conference centres and theatres, favour the market growth. |
| Adoption of technology such as VR and AR | Technologies, such as event management software, virtual or augmented reality, mobile event applications, and online registration systems, are helping the MICE sector enhance attendee engagement, provide valuable data insights, and simplify management tasks. |
| Increasing focus on sustainability in the MICE industry market | Consumers are significantly conscious of environmental impacts. As a result, event planners are making use of reusable products, convenient recycling points at venues, and other sustainable practices. |
MICE Industry Market Trends
MICE travel is a subsegment of business travel that may include some leisure time. In addition to bringing in a sizable amount of revenue, MICE events can enhance a hotel/ hosting venue’s reputation. The MICE industry also contributes to an increase in corporate and public sector investments that enhance the location’s overall hospitality environment. Advanced technologies, such as augmented reality (AR) and data analytics allow attendees to experience events in an interactive and immersive way. By employing biometric solutions and facial recognition technology, organisers can guarantee that only authorised participants can enter the location.
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Market Segmentation
“Global MICE Industry Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Event Type | Meetings, Conferences, Exhibitions, Incentives |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
By event type, meetings account for the majority of the MICE industry market share
In 2021, the number of meetings conducted by international associations on a global scale accounted to approximately 7.7 thousand. Business meetings are conducted within a corporate setting to discuss objectives, strategies, and tasks pertaining to the organisation. Conducting meetings is essential in retaining the employees’ engagement and motivation, further improving their optimal productivity.
Conferences involve the attendance of a large number of individuals, span several days, and include various programs such as keynote presentations, panel discussions, workshops, and networking events.
Exhibitions are undergoing a transition with the adoption of technological innovations. Exhibitors are making use of virtual product demonstrations allowing attendees to interact with products in a virtual environment. AR and VR are beneficial for companies where physical demonstrations are difficult.
Organisations and business provide incentives to motivate and reward employees for attaining goals or achieving exceptional performance. Some of the popular incentive programs include Google’s peer recognition program and Salesforce’s PTO (Paid Time Off) program, that provides employees six days of paid volunteer time per year.
Competitive Landscape
The market players are focusing on hosting MICE events in a more sustainable manner, driven by the growing need to lower environmental impact and reduce carbon emissions
| Company | Founded | Headquarters | Services |
| IMC International | 2008 | Austria | Provides meeting, incentive, event, and other services. |
| CSI DMC | 1987 | United States | Provides services such as elevated special events,local culinary experiences, tours and activities,teambuilding and CSR, transportation, meeting management, and hybrid programs. |
| 360 Destination Group | 1978 | United States | Provides services including event design/development, team building/CSR, entertainment, dining experience, tours, décor, transportation, and hospitality/staffing. |
| Creative Group, Inc. | 1970 | United States | Specialises in global meetings and events, sales incentives, channel loyalty, employee engagement and recognition, among others. |
Other notable players operating in the global MICE industry market include Meetings & Incentives Worldwide, ITA Group, Inc., Maritz Holdings Inc., and The MICE Company, among others. The manufacturers are incorporating the latest capabilities and advanced technologies to meet the evolving demands of consumers.
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Global MICE Industry Market Analysis by Region
In Europe, the MICE industry has grown to be a thriving sector that attracts tourists, event planners, and business professionals. With a preference for conventional urban centres, the top 5 meeting locations in Europe are Madrid, Barcelona, London, Paris, and Manchester.
The Asia Pacific region is a prominent emerging region for startups and MSMEs. To promote small-scale businesses and local manufacturing at the international level, the governments are hosting several trade expos and exhibitions and introducing supportive policies.
The United States and Canada have the presence of excellent infrastructure such as convention centres, exhibition halls and other establishments attracting MICE events. Key regions such as Orlando, Florida (FL) and Chicago, Illinois (IL) can host over 200 corporate conferences yearly.
The Middle East and Africa region is a key destination for MICE in sectors, such as pharmaceutical, technology, biotechnology, and consulting. Prominent hotels in the region with conference rooms, such as Millennium Plaza Hotel (Dubai), Crowne Plaza Riyadh Hotel & Convention (Saudi Arabia), and the Westin Cape (South Africa) aid MEA in hosting MICE events.
Growing nearshoring phenomenon in Latin America is supporting the MICE industry market growth in the region. Multiple companies are backing the trend by investing in the opening of new hotels.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Event Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global MICE Industry Market Analysis
8.1 Key Industry Highlights
8.2 Global MICE Industry Historical Market (2018-2023)
8.3 Global MICE Industry Market Forecast (2024-2032)
8.4 Global MICE Industry Market by Event Type
8.4.1 Meetings
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Conferences
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Exhibitions
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Incentives
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global MICE Industry Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America MICE Industry Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe MICE Industry Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Netherlands
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific MICE Industry Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America MICE Industry Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa MICE Industry Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Turkey
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IMC International
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 CSI DMC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 360 Destination Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Creative Group, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Meetings & Incentives Worldwide
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 ITA Group, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Maritz Holdings Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 The MICE Company
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global MICE Industry Market: Key Industry Highlights, 2018 and 2032
2. Global MICE Industry Historical Market: Breakup by Event Type (USD Million), 2018-2023
3. Global MICE Industry Market Forecast: Breakup by Event Type (USD Million), 2024-2032
4. Global MICE Industry Historical Market: Breakup by Region (USD Million), 2018-2023
5. Global MICE Industry Market Forecast: Breakup by Region (USD Million), 2024-2032
6. North America MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America MICE Industry Market Forecast: Breakup by Country (USD Million), 2024-2032
8. Europe MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2023
9. Europe MICE Industry Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific MICE Industry Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2023
13. Latin America MICE Industry Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Middle East and Africa MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2023
15. Middle East and Africa MICE Industry Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Global MICE Industry Market Structure
Key Questions Answered in the Report
The market attained a value of USD 783.7 billion in 2023.
The market is estimated to grow at a CAGR of 6.7% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,407.45 billion by 2032.
The increasing reliance on the MICE industry for brand reputation building and network creation, rapid expansion of enterprises and industries, and efforts of organisations towards employee retention are the major market drivers.
The key market trends include the favourable policies of various governments encouraging MICE tourism and growing collaborations between major MICE industry players.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions included in the market report.
The main aim of MICE industry is to provide efficient hospitality to improve operations related to meeting, incentives, conferences, and exhibitions.
Companies of all sizes participate in the MICE industry, with the scale depending upon the budget. For example, while smaller companies may prefer local events, larger companies may plan MICE events at international destinations.
Meetings, conferences, exhibitions, and incentives are the different event types included in the market report.
The key players in the market include IMC International, CSI DMC, 360 Destination Group, Creative Group, Inc., Meetings & Incentives Worldwide, ITA Group, Inc., Maritz Holdings Inc., and The MICE Company, among others.
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