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Global MICE Industry Market Share, Size, Growth, Trends, Top Drivers, Analysis, Forecast: 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; 2023-2028
Global MICE Industry Market Outlook
The global MICE industry market attained a value of USD 733.8 billion in 2022. The market is further expected to grow at a CAGR of 6.80% between 2023 and 2028, to reach a value of USD 1081.8 billion by 2028.
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Key Trends in the Market
MICE industry refers to a branch of hospitality which deals with meetings, incentives, conferences, and exhibitions. The MICE industry aims at facilitating business travel, promoting connection building, encouraging new ideas, and catering to the travel demands of small, medium, or large businesses. The expertise offered by MICE enables the selection of ideal venues, while carrying out efficient marketing.
- MICE facilities can improve the reputation of a hotel while generating sizeable revenue. It can offer growth opportunities to an organisation by establishing a network of clients. Hence, the increasing expansion of businesses and small and medium enterprises is driving the MICE industry market.
- The growing collaborations and cooperation between the staff of various sectors such as healthcare, defence, and automotive, among others, are leading to an exchange of delegations and setting up of long-term goals. Hence, MICE industry is likely to gain traction to improve these processes.
- The growing adoption of smart devices such as smartphones, laptops, and tablets, is expected to improve the MICE industry market operations with easy booking, enhanced communication, and convenient mobility.
Market Analysis
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Based on event type, the market is segmented into meetings, conferences, exhibitions, and incentives. The regional markets for the MICE industry are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global MICE industry market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- IMC International
- MICE International
- CSI DMC
- 360 Destination Group
- Capita plc
- Creative Group, Inc.
- Meetings & Incentives Worldwide
- ITA Group, Inc.
- Maritz Holdings Inc.
- The MICE Company
- Others
Market Share by Meeting
The meetings segment, based on event type, accounts for a healthy share of the MICE industry market. Meetings can be held from anywhere between a few hours or one day to a complete week, involving senior executives and large shareholders. The MICE industry takes care of the needs of personnel involved in the meetings, which allows them to improve decision making, properly address business concerns, and form connections.
Meanwhile, the incentives segment is expected to witness growth in the forecast period. This segment is crucial as it bolsters the performance of an employee while enhancing their loyalty. The MICE industry facilitates reward offerings and healthy incentives which are beneficial for employees and affordable for organisations.
Market Share by Region
Region-wise, Asia Pacific accounts for a growing share in the MICE industry market. The increasing collaborations, exchange of delegations, and mutual support offered by major market players are augmenting the cooperation in MICE industry, leading to a heightened growth of the market. Strong economic growth of nations such as India, China, Thailand, Singapore, and South Korea, is further expanding the opportunities for the MICE industry market.
The growth of the corporate sector in the Asia Pacific is plating a pivotal role in the market. Rapid expansion of medium and large enterprises in this continent, supported by the rising population, rapid urbanisation, and favourable policies of the governments in the region are further empowering the market growth for the MICE industry.
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Competitive Landscape
IMC International is an international marketing company which builds upon a strong foundation of media relations, and caters to the technological sector by providing advanced digital solutions. IMC International is also a logistics expert as a goods transporter, freight forwarder, and storage solutions provider. It was established in the year 2001 with headquarters in Florida, United States.
MICE International is a leading multinational company which caters to the needs of the travel and tourism sectors, with a strong presence in countries like Cuba, Russia, Uganda, Zimbabwe, and Brazil, among others. A destination specialist, MICE International provides reliable travel programmes to its clients. It was founded in the year 2018 and is headquartered in Dubai in the United Arab Emirates.
CSI DMC was founded in the year 1987 and is currently headquartered in Washington D.C, United States. The company offers services related to special events, custom design, virtual experiences, teambuilding, transportation, experiential activities, dining, and meeting management, among others. A full service event and destination management company, CSI DMC designs experiences and events of all sizes.
Other market players include 360 Destination Group, Capita plc, Creative Group, Inc., Meetings & Incentives Worldwide, ITA Group, Inc., Maritz Holdings Inc., and The MICE Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Event Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 (2018-2022)
8.3 Global MICE Industry Market Forecast (2023-2028)
8.4 Global MICE Industry Market by Event Type
8.4.1 Meetings
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Conferences
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Exhibitions
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Incentives
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global MICE Industry Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America MICE Industry Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe MICE Industry Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific MICE Industry Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America MICE Industry Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa MICE Industry Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
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 MICE International
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 CSI DMC
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
15.2.4 360 Destination Group
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 Capita plc
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 Creative 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 Meetings & Incentives Worldwide
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 ITA Group, Inc.
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 Maritz Holdings Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 The MICE Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 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 2028
2. Global MICE Industry Historical Market: Breakup by Event Type (USD Million), 2018-2022
3. Global MICE Industry Market Forecast: Breakup by Event Type (USD Million), 2023-2028
4. Global MICE Industry Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global MICE Industry Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America MICE Industry Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe MICE Industry Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific MICE Industry Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America MICE Industry Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa MICE Industry Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa MICE Industry Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global MICE Industry Market Structure
Key Questions Answered in the Report
The market for the MICE industry reached a value of USD 733.8 billion in 2022.
The market is projected to grow at a CAGR of 6.80% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028, to reach a value of USD 1081.8 billion by 2028.
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 drivers of the market.
The key trends in the MICE industry market include the favourable policies of various governments encouraging MICE tourism and growing collaborations between major MICE industry players.
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.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions included in the market report.
IMC International, MICE International, CSI DMC, 360 Destination Group, Capita plc, Creative Group, Inc., Meetings & Incentives Worldwide, ITA Group, Inc., Maritz Holdings Inc., and The MICE Company, among others, are the key market players, according to the report.
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