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MICE Industry

Global Opportunity Analysis and Industry Forecast, 2017-2023


MICE Industry: The term "MICE" in the context of travel is an acronym for meetings, incentives, conferences, and exhibitions. The MICE market refers to a niche of group tourism dedicated for planning, booking, and facilitating conferences, seminars, and other events. This industry is garnering high revenues in the travel industry. The MICE industry provides easy and convenient methods for organizing events and helps choose the right destination, which is the basis of a successful event. Hotel and transportation industries are directly involved in the MICE industry. These industries may benefit from MICE business by offering their services and facilities to the planner and attendees of MICE events. Hotels are the main suppliers of MICE and are the main beneficiaries as well.


MICE Industry Overview: The place for the gathering needs to be a venue arranged beforehand. The venue will provide space and facilities necessary to satisfy the needs of those who attend the gathering. The global MICE industry generated revenue of $752 billion in 2016, and is expected to grow at a CAGR of 7.5% to reach $1,245 billion by 2023 The global MICE industry is gaining popularity worldwide, owing to the increase in frequency of the various types of events and meetings being organized globally, growth in business travel, rise in disposable incomes, and the rapid growth in tourism and hospitability sectors. Currently, technology plays a vital role in the MICE business growth as many corporations adopt e-conferences as a substitute for face-to-face meetings and conferences. The major restraint for the growth of the MICE industry is the operational cost associated with these companies. Read more at : https://www.alliedmarketresearch.com/MICE-industrymarket


MICE Industry BY Event Type:


MICE Industry Key Benefits For Stakeholders:• The study provides an in-depth analysis of the MICE industry market with current and future trends to elucidate the imminent investment pockets. • It offers information regarding key drivers, restraints, and opportunities with a detailed impact analysis. • Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.

• Market player positioning in the report provides a clear understanding of the position of leading companies.


Key Findings of the MICE Industry Market: • In 2016, Europe dominated the global market with more than 42% market share, in terms of value. • Asia-Pacific is estimated to witness the highest growth rate from 2017 to 2023. • On the basis of country, U.S. generated the highest revenue in global MICE industry in 2016. • Based on event type, meetings segment generated the highest revenue in 2016, and is expected to grow at a CAGR of 7.5%. The incentives segment is projected to witness highest growth in the global market.


Key Players in MICE Industry ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

Questex LLC CWT Meetings & Events IBTM Events BCD Meetings and Events Capital Travel and Events CiEvents Conference Care Ltd. The Freeman Company. ATPI Ltd. Interpublic Group of Companies, Inc.

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MICE Industry

MICE Industry Key Segments:

• BY EVENT TYPE • BY GEOGRAPHY


MICE INDUSTRY BY GEOGRAPHY

North America, Europe, Asia-Pacific, LAMEA


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Mice industry  

MICE Industry Overview: Meetings, incentives, conventions, and exhibitions or MICE represents a sector of tourism that includes business eve...

Mice industry  

MICE Industry Overview: Meetings, incentives, conventions, and exhibitions or MICE represents a sector of tourism that includes business eve...

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