Meetings, Incentives, Conferences, And Exhibitions (MICE) Market Trends: Research and Forecast Report to 2033 - Understanding Market Dynamics

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Meetings, Incentives, Conferences, And Exhibitions (MICE) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The meetings, incentives, conferences, and exhibitions (MICE) market size has grown strongly in recent years. It will grow from $876.94 billion in 2023 to $962 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to growing business networking and knowledge sharing, demand for industry-specific conferences and exhibitions, increasing incentive programs and corporate events, rising meeting and events industry, growing change in consumer preferences.

The meetings, incentives, conferences, and exhibitions (MICE) market size is expected to see strong growth in the next few years. It will grow to $1,336.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing interconnectedness of businesses globally, increasing expansion and developments of various businesses, growing popularity of virtual meetings among businesses, economic development and tourism promotion, the increase in business trips worldwide. Major trends in the forecast period include integration of cutting-edge technology, advancements in medical and scientific fields, the rise in social media advertisements related to organizing corporate, organizer focus on adoption of latest technology, growing business opportunities.

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Key Market Players:

Major companies operating in the meetings, incentives, conferences, and exhibitions (mice) market report are Capita plc, The Freeman Company, American Express Company, Maritz Global Events, ATPI Ltd., FCM Meetings & Events, Aviareps AG, MCI Group, ITA Group , Creative Group Inc., One10 LLC, BCD Meetings & Events, Meetings and Incentives Worldwide Inc., Itl World Company (Miceminds), Questex, Conference Care Ltd., CWT Meetings & Events, Ci Events, Grass Roots Meetings & Events, International Marketing Corporation Pvt Ltd, Beyond Summits Ltd., Cambria DMC, Carlson Wagonlit Travel, BESynergy, Flight Centre Travel Group Limited , Global Cynergies LLC

Market Drivers:

The increase in business trips worldwide is expected to propel the growth of the meetings, incentives, conferences, and exhibitions (MICE) market going forward. Business trips refer to the practice of employees or professionals traveling to other locations or cities on behalf of their company to conduct work-related activities, such as meetings, conferences, client visits, and other business purposes. MICE events provide excellent networking opportunities for business trips by offering a platform for individuals to connect with industry peers, potential clients, suppliers, and partners from around the world. For instance, in August 2023, according to the Global Business Travel Association, a US-based business travel and meetings organization, global spending on business travel increased by 47% to $1.03 trillion in 2022, and considerable growth is predicted in 2023, with a 32% growth rate. Therefore, the increase in business trips worldwide is driving the growth of the MICE market.

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The meetings, incentives, conferences, and exhibitions (mice) market covered in this report is segmented -
1) By Event Type: Meetings, Incentives, Conferences, Events
2) By Service Type: Event Planning And Organization, Venue Management, Accommodation Services, Food And Beverage Services
3) By Application: Academic Field, Business Field, Political Field, Exhibitions, Other Applications
4) By End-User: Corporate, Government, Association

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