MICE Industry Global Demand, Latest Technology and Outlook 2020 to 2030
The Global MICE Industry size valued to USD 916.1 million in 2019, is predicted to garner USD 1.78 billion by 2030, with a CAGR of 6.1% from 2020-2030. MICE stand for Meetings, Incentives, Conferences and Exhibitions.
MICE
industry is a specialized niche of group tourism committed to book, plan,
manage & deliver meetings, seminars, exhibitions, and other events. These
events are held to achieve a range of business, academic, professional, or
cultural objectives. MICE industry is one of the hospitality’s industries,
which has a positive impact in the growth of cities, businesses, destinations,
and other aspects of the global market. MICE event organizers provide many
other creative services that include directional signage’s, banners, show
displays, kiosks/exhibit space, event photography, event marketing, sponsorship
management, AV/technical production, group air fulfillment, on-site event
logistics & staffing, supplier management, virtual meetings, and risk
management services.
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Top Companies: Conference Care Ltd, BI Worldwide, Ltd., ,
ITA Group, BCD Group, One10, LLC Meetings and Incentives Worldwide (M&IW),
ACCESS Destination Service, 360 Destination Group, CSI DMC, Maritz, Cievents,
the Freeman Company, IBTM, ATPI Ltd, Carlson Wagonlit Travel, Creative Group,
Inc., and the Interpublic Group of Companies, Inc. and others.
The global MICE Industry
share analysis is based on event type, application, and geography. Based on
event type, the market is segmented into meetings, incentives, conventions, and
exhibitions. Based on applications, the market is divided into Academic Field,
Business Field, Political Field, Exhibitions, and Others. Geographic breakdown
and analysis of each of the previously mentioned segments include regions
comprising North America, Europe, Asia-Pacific, and RoW.
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Europe
region is expected to hold the highest market share in MICE industry over the
forecast period owing to the increase in meeting activities, increased adoption
of smart devices on a wide scale along with the rise in penetration of internet
in the region. Asia-Pacific is expected to grow at the highest CAGR, accounting
for a substantial market share. This is attributed to increase in tourism and
business activities in the MICE industry, supporting government regulations and
higher adoption of AI & IoT.
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