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Report
Global MICE Industry Market Report and Forecast 2024-2032
Market Report I 2024-02-16 I 142 Pages I EMR Inc.
Global MICE Industry Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global MICE industry market reached a value of approximately USD 783.70 billion in 2023. Aided by the increased globalisation of businesses and the emergence of virtual platforms, the market is projected to further grow at a CAGR of 6.7% between 2024 and 2032 to reach a value of USD 1407.45 billion by 2032.
The MICE industry comprises a range of activities surrounding the organisation and management of business-related events, including corporate meetings, industry conferences, trade exhibitions, and incentive programs. These events play a vital role in business development, networking, knowledge exchange, and brand promotion. Beyond its direct applications, the MICE industry also significantly contributes to other sectors, such as hospitality, travel, and tourism, reinforcing its position as a key driver of economic growth.
The surge in global business activities is one of the primary drivers of the MICE industry market growth. As companies expand their operations across borders, there is an escalating demand for platforms that facilitate interaction, negotiation, and partnership. This has led to a significant rise in international meetings, conferences, and exhibitions, thereby driving the growth of the MICE industry.
Moreover, the increased emphasis on employee engagement and retention strategies in the corporate world has boosted the demand for incentive programs, which are a significant component of the MICE industry. These programs, often characterised by group travel and experiential activities are increasingly being leveraged by businesses to reward and motivate their employees, further fuelling MICE industry market demand.
The burgeoning adoption of digital technologies has also played a crucial role in propelling the MICE industry. Virtual and hybrid event platforms have emerged as a versatile solution for organising meetings and conferences, particularly in the face of travel restrictions and safety concerns brought about by situations like the COVID-19 pandemic. These digital platforms offer numerous advantages such as wider reach, cost-effectiveness, and convenience, making them a preferred choice for many businesses, aiding the MICE industry market growth.
Additionally, the rise of sustainable and eco-friendly practices in event management has led to an increased focus on 'Green MICE', a trend that is expected to gain traction in the coming years. With an increasing number of businesses prioritising sustainability, the demand for eco-friendly venues, practices, and services within the MICE industry is expected to rise, thereby contributing to the MICE industry market expansion.
Market Segmentation
The market can be divided based on event type and region.
Market Breakup by Event Type
- Meetings
- Conferences
- Exhibitions
- Incentives
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global MICE industry market. Some of the major players explored in the report by Expert Market Research are as follow:
- 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 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 Creative Group, Inc.
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 Meetings & Incentives Worldwide
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 ITA Group, 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 Maritz Holdings 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 The MICE Company
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 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
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