MICE Industry Market Expected to Reach $2,309.4 billion, Globally, by 2032 at 11.6% CAGR--Allied Market Research

The MICE Industry market is driven by  rise in hybrid and virtual events, increased sustainability and green meetings, personalization and participant engagement, and health & safety measures. Moreover, the rapid advancement in the tourism industry has led to change in dynamics and made it easier for both customers and organizers to organize the market smoothly.  

WILMINGTON, Del., Feb. 26, 2024 /PRNewswire/ -- Allied Market Research published a report, titled "MICE Industry Market by Event type (Meeting, Incentive, Convention, and Exhibition) : Global Opportunity Analysis and Industry Forecast, 2023–2032."  According to the report, the global meeting, incentive, convention, and exhibition (MICE) industry was valued at $598.2 billion in 2022, and is estimated to reach $2,309.4 billion by 2032, registering a CAGR of 11.6% from 2023 to 2032.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/2433 

Prime determinants of growth  

The growth of the MICE industry is majorly driven by many factors. The MICE industry has increasingly embraced hybrid and virtual event formats. This has allowed for greater reach and accessibility, enabling participants from around the world to attend conferences and exhibitions without the need for physical presence. Moreover, sustainability has become a key focus in the MICE industry. Event organizers and venues have adopted eco-friendly practices to minimize the environmental impact of meetings and conferences. This included using sustainable materials, reducing waste, and implementing energy-efficient technologies. In addition, the integration of technology in the MICE industry was on the rise. This included the use of event management software, mobile apps, virtual reality (VR), and augmented reality (AR) to enhance the overall event experience. Technology has been also utilized for efficient registration processes, engagement, and data analytics.

Report coverage & details: 

 Procure Complete Report (110 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3OV4WWh 

The meeting segment to maintain its leadership status throughout the forecast period

By event type, the meeting segment held the highest market share in 2022, accounting for more than three-fifths of the MICE Industry market revenue and is estimated to maintain its leadership status throughout the forecast period. The meeting segment dominated the market share in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry due to its frequency, regularity, and essential role in corporate business activities. Meetings occur regularly for internal communication, decision-making, and strategic planning, contributing to a stable and prominent market position. The diversity in the scale and purpose of meetings, ranging from small board meetings to large international conferences, allows the MICE industry to cater to a broad spectrum of business needs. Moreover, the consistent demand for meetings serves as a reliable revenue stream for venues, event organizers, and related service providers, making it a financially significant segment. The local and regional impact of meetings, often attracting attendees from nearby areas, further contributes to higher attendance and market share. In addition, the inclusion of corporate travel and accommodation in meeting-related activities enhances the economic significance of this segment within the MICE industry.

The meeting segment to maintain its leadership status throughout the forecast period

By region, Europe held the highest market share in 2022, accounting for more than three-fifths of the MICE Industry market revenue and is estimated to maintain its leadership status throughout the forecast period. Europe holds the highest market share in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry due to a combination of factors. The region has a well-developed infrastructure with state-of-the-art facilities for hosting various events, supported by efficient transportation systems. Its diverse range of destinations, from vibrant cities to scenic landscapes, caters to varied preferences of MICE participants. Major European cities, such as London, Frankfurt, Paris, and Geneva, serve as strong business and financial hubs, attracting high-profile conferences and corporate events. The global connectivity facilitated by Europe's well-established air and rail networks makes it a convenient destination for international attendees. The region's rich cultural heritage and tourism attractions add an extra appeal, allowing participants to combine business activities with cultural experiences. Moreover, Europe's reputation for safety, political stability, and the availability of professional services and expertise in event planning contribute to its prominence in the MICE industry.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/2433 

Leading Market Players: - 

• 360 DESTINATION GROUP
• ACCESS DESTINATION SERVICES
• ATPI LTD.
• BCD GROUP
• BI WORLDWIDE
• CWT
• FCM TRAVEL
• CONFERENCE CARE LTD.
• CREATIVE GROUP, INC.
• CSI DMC
• IBTM WORLD
• ITA GROUP
• MARITZ
• MEETINGS AND INCENTIVES WORLDWIDE, INC
• ONE10, LLC
• THE FREEMAN COMPANY, LLC
• THE INTERPUBLIC GROUP OF COMPANIES, INC.

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth. 

Similar Reports We Have on Consumer Goods Industry:

• Asia-Pacific MICE industry to reach $441.1 billion by 2025
• Outbound MICE Market is projected to reach $1272.2 billion by 2031
• Corporate Luxury Events Market is projected to reach $526,165.5 million by 2030
• Thailand MICE and Mega Event Market is estimated to reach $12.23 billion by 2027
• Caribbean MICE Market Opportunity Analysis and Industry Forecast, 2018-2025

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com 
Follow Us on | Facebook | LinkedIn | YouTube |

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

SOURCE Allied Market Research

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED