The global MICE market size is expected to reach USD 1,563.29 billion by 2030, registering a CAGR of 7.5% from 2023 to 2030. Companies are utilizing MICE events and incentive travel to promote their business, thereby driving local tourism. A rise in the number of B2B/B2C events sponsored by enterprises and the use of advanced technology is driving the events industry. Several countries with varied diversity and cultures are boosting their tourism sector by organizing MICE events as it acts as a source of revenue. Moreover, the increasing number of business travelers for corporate events, and exhibitions, coupled with factors, such as employee engagement, is driving the market.
An important factor that every employer considers is employee engagement. The demand for leisure travel has increased due to the emergence of flexible work environments, which, in turn, drives the growth of the market. The adoption of geo-cloning by exhibition organizers is driving the market. Geo-cloning is a strategy being investigated by organizers and exhibitors to connect with audiences locally and internationally. The idea behind geo-cloning is to replicate well-known exhibition and event brands in different parts of the world. Reed Exhibitions, a division of RELX, successfully implements geo-cloning for brands, such as EuroBLECH, RAILTEX, and PSE Europe, which contributes to the industry growth.
The industry is expected to experience growth in the interior decoration sector, which is projected to fuel demand for digitally printed wallpaper throughout the forecast period. This is due to the rising construction projects of residential and commercial buildings. The growing need for new houses as a result of the increasing population across regions is also expected to boost the market. The adoption of sustainable practices across the industry is offering players an opportunity to gain traction among consumers. Due to the influence of initiatives, such as the United Nations Climate Change Conference (COP-26) and Net Zero Carbon Events, many venues, hotels, and airlines are working toward estimating the carbon footprint resulting from their events and decreasing or offsetting their impact on the environment.
Apart from this, in accordance with their sustainability and ESG policies, event planners and clients are both aiming to develop and carry out carbon-neutral or zero-carbon events. Due to the great value millennials place on “travel and seeing the world,” younger workers choose remote employment and millennials are particularly likely to take advantage of bleisure travel. Gen Z is the first generation to be born with access to the internet, social media, and linked electronics. They have a strong appreciation for technology and are inclined to use it in a variety of ways when they travel for work. In addition, Gen Z and millennials are more concerned about global sustainability. All these factors support industry growth.
An important factor that every employer considers is employee engagement. The demand for leisure travel has increased due to the emergence of flexible work environments, which, in turn, drives the growth of the market. The adoption of geo-cloning by exhibition organizers is driving the market. Geo-cloning is a strategy being investigated by organizers and exhibitors to connect with audiences locally and internationally. The idea behind geo-cloning is to replicate well-known exhibition and event brands in different parts of the world. Reed Exhibitions, a division of RELX, successfully implements geo-cloning for brands, such as EuroBLECH, RAILTEX, and PSE Europe, which contributes to the industry growth.
The industry is expected to experience growth in the interior decoration sector, which is projected to fuel demand for digitally printed wallpaper throughout the forecast period. This is due to the rising construction projects of residential and commercial buildings. The growing need for new houses as a result of the increasing population across regions is also expected to boost the market. The adoption of sustainable practices across the industry is offering players an opportunity to gain traction among consumers. Due to the influence of initiatives, such as the United Nations Climate Change Conference (COP-26) and Net Zero Carbon Events, many venues, hotels, and airlines are working toward estimating the carbon footprint resulting from their events and decreasing or offsetting their impact on the environment.
Apart from this, in accordance with their sustainability and ESG policies, event planners and clients are both aiming to develop and carry out carbon-neutral or zero-carbon events. Due to the great value millennials place on “travel and seeing the world,” younger workers choose remote employment and millennials are particularly likely to take advantage of bleisure travel. Gen Z is the first generation to be born with access to the internet, social media, and linked electronics. They have a strong appreciation for technology and are inclined to use it in a variety of ways when they travel for work. In addition, Gen Z and millennials are more concerned about global sustainability. All these factors support industry growth.
MICE Market Report Highlights
- The meetings segment accounted for a majority share in 2022 due to its demand being driven by the increase in corporate events worldwide. During the pandemic, this section underwent a change as a result of the cancellation of significant events and lockdown orders
- In addition, the rise in popularity of regional destinations coupled with less densely populated tier cities is also driving the demand for meetings in such regions
- Asia Pacific was the biggest contributor to the industry in 2022. The expansion of this regional market is significantly influenced by the development of the travel and tourism sector
- For instance, according to World Tourism Organization, Asia Pacific saw more than triple (+230%) international arrivals in the first nine months of 2022
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Event Type Outlook
2.3. Regional Outlook
Chapter 3. MICE Market Variables & Trends
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Suppliers Outlook
3.2.2. Technology Trends
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Market Entry Strategies
3.5. Industry Analysis Tools
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. MICE Market: Event Type Analysis & Estimates
5.1. Event Type Movement Analysis & Market Share, 2022 & 2030
5.2. MICE Market Estimates & Forecast, By Event Type (USD Billion)
5.2.1. Meetings
5.2.2. Incentives
5.2.3. Conferences
5.2.4. Exhibitions
Chapter 6. MICE Market: Regional Estimates & Trend Analysis
6.1. MICE Market: Regional Outlook
6.2. North America
6.2.1. North America MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.2.2. U.S.
6.2.2.1. Key country dynamics
6.2.2.2. U.S. MICE market estimates & Forecast, 2017 - 2030 (USD Billion)
6.2.3. Canada
6.2.3.1. Key country dynamics
6.2.3.2. Canada MICE market estimates & Forecast, 2017 - 2030 (USD Billion)
6.3. Europe
6.3.1. Europe MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.3.2. U.K.
6.3.2.1. Key country dynamics
6.3.2.2. U.K. MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.3.3. Germany
6.3.3.1. Key country dynamics
6.3.3.2. Germany MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.3.4. France
6.3.4.1. Key country dynamics
6.3.4.2. France MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.4. Asia Pacific
6.4.1. Asia Pacific MICE market estimates & Forecast, 2017 - 2030 (USD Billion)
6.4.2. China
6.4.2.1. Key country dynamics
6.4.2.2. China MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.4.3. India
6.4.3.1. Key country dynamics
6.4.3.2. India MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.4.4. Japan
6.4.4.1. Key country dynamics
6.4.4.2. Japan MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.5. Central & South America
6.5.1. Central & South America MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.5.2. Brazil
6.5.2.1. Key country dynamics
6.5.2.2. Brazil MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.6. Middle East & Africa
6.6.1. Central & South America MICE market estimates & forecast, 2017 - 2030 (USD Billion)
6.6.2. South Africa
6.6.2.1. Key country dynamics
6.6.2.2. South Africa MICE market estimates & forecast, 2017 - 2030 (USD Billion)
Chapter 7. MICE Market: Competitive Landscape
7.1. Companies Covered in the Scope of this Report
- BCD Group
- AVIAREPS AG
- Beyond Summits Ltd.
- ITL World Company (MICEMINDS)
- IMC International
- Global Air-American Express Travel Services
- Questex
- Capita Plc
7.3. Company Categorization
7.4. Participant’s Overview
7.5. Financial Performance
7.6. Product Benchmarking
7.7. Company Market Share Analysis, 2022 (Value % Share)
7.8. Company Heat Map Analysis
7.9. Strategy Mapping
7.9.1. Expansion
7.9.2. Mergers & Acquisitions
List of Tables
1. Exhibitions held in 2022 and upcoming exhibitions
2. MICE market estimates & forecast, by event type (USD Billion)
3. Destination performance index, 2021
4. Popular conference/convention event, 2019
5. U.S. macro-economic outlay
6. Canada macro-economic outlay
7. U.K. macro-economic outlay
8. Germany macro-economic outlay
9. France macro-economic outlay
10. Asia Pacific: Number of meetings per country in 2019
11. China macro-economic outlay
12. India macro-economic outlay
13. Japan macro-economic outlay
14. Central & South America: Number of meetings per country in 2019
15. Brazil macro-economic outlay
16. Middle East & Africa: Number of meetings per country in 2019
17. South Africa macro-economic outlay
18. Recent developments & impact analysis, by key market participants
19. Company market share, 2022 (Value % Share)
List of Figures
1. MICE market segmentation
2. Information procurement
3. Primary research pattern
4. Primary research approaches
5. Primary research process
6. Market Snapshot
7. Segment Snapshot
8. Competitive Landscape Snapshot
9. Tours and Travels Market Value, 2022 (USD Billion)
10. MICE market - Industry value chain analysis
11. MICE market dynamics
12. MICE market: PORTER’s analysis
13. Factors affecting travel decision
14. Business travelers that expect to take 6 or more business trips annually, 2021 - 2022
15. MICE market, by event type: Key takeaways
16. MICE market, by event type: Market share, 2022 & 2030 37
17. MICE market estimates & forecasts, by meetings, 2017 - 2030 (USD Billion)
18. MICE market estimates & forecasts, by incentives, 2017 - 2030 (USD Billion)
19. Popularity of incentive travel, by industry, 2019
20. MICE market estimates & forecasts, by conferences, 2017 - 2030 (USD Billion)
21. MICE market estimates & forecasts, by exhibitions, 2017 - 2030 (USD Billion)
22. Average number of trade shows attended or sponsored by business professionals in the U.S. from 2015 to 2021
23. MICE market revenue, by region, 2022 & 2030 (USD Million)
24. Regional marketplace: Key takeaways
25. Regional marketplace: Key takeaways
26. North America MICE market estimates & forecast, 2017 - 2030 (USD Billion)
27. Number of travel meetings conducted in top countries of North America, in 2021
28. U.S. MICE market estimates & forecast, 2017 - 2030 (USD Billion)
29. Canada MICE market estimates & forecast, 2017 - 2030 (USD Billion)
30. Europe MICE market estimates & forecasts, 2017 - 2030 (USD Billion)
31. Number of travel meetings conducted in top countries of Europe, in 2021
32. U.K. MICE market estimates & forecasts, 2017 - 2030 (USD Billion)
33. Percentage of companies opting for hybrid operations in the U.K.
34. Germany MICE market estimates & forecasts, 2017 - 2030 (USD Billion)
35. Percentage of companies opting for hybrid operations in Germany
36. France MICE market estimates & forecasts, 2017 - 2030 (USD Billion)
37. Percentage of companies opting for hybrid operations in France
38. Asia Pacific MICE market estimates & forecast, 2017 - 2030 (USD Billion)
39. China MICE market estimates & forecast, 2017 - 2030 (USD Billion)
40. India MICE market estimates & forecast, 2017 - 2030 (USD Billion)
41. Japan MICE market estimates & forecast, 2017 - 2030 (USD Billion)
42. Central & South America MICE market estimates & forecast, 2017 - 2030 (USD Billion)
43. Brazil MICE market estimates & forecast, 2017 - 2030 (USD Billion)
44. Middle East & Africa MICE market estimates & forecast, 2017 - 2030 (USD Billion)
45. South Africa MICE market estimates & forecast, 2017 - 2030 (USD Billion)
46. Key company categorization
47. Company market share analysis, 2022 (Value % Share)
48. Strategic framework
Companies Mentioned
- Bcd Group
- Aviareps AG
- Beyond Summits Ltd.
- Itl World Company (Miceminds)
- Imc International
- Global Air-American Express Travel Services
- Questex
- Capita plc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 75 |
| Published | March 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 876.42 Billion |
| Forecasted Market Value ( USD | $ 1563.29 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
