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PUBLISHER: Grand View Research | PRODUCT CODE: 1170980
PUBLISHER: Grand View Research | PRODUCT CODE: 1170980
MICE Market Size, Share & Trends Analysis Report, By Event Type (Meetings, Incentives, Conferences, Exhibitions), By Region (North America, APAC, Europe, Central & South America, MEA), And Segment Forecasts, 2022 - 2030
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PAGES: 80 Pages
DELIVERY TIME: 2-10 business days
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MICE Market Growth & Trends:
The global MICE market is expected to reach USD 1,563.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2022 to 2030. Factors such as a rise in the number of hybrid events, the use of 5G technology, and rise in sustainability initiatives by event organizers is acting as an opportunity for the meetings, incentives, conferences, and exhibitions (MICE) industry. The MICE industry can play a major role in combating climate change by cutting down on energy and waste.
The rise in the use of recyclable materials in MICE events is boosting the growth of the market. Also, an increase in the number of unique experiences provided to attendees helps in generating excess revenue for the local tourism and hospitality sector. Also as per International Tourism Partnership, the alignment of the hotel industry with the Paris Climate Agreement is expected to significantly reduce greenhouse emissions.
The advent of 5G in the MICE industry is favorable as it would offer high speed in hotels and other event venues. The 5G technology is also expected to enable live streaming thereby boosting the industry. Also, hotel groups such as Accor, IHG, and Marriot International have invested USD 50 million in Groups360, an online booking application for conferences.
The COVID-19 pandemic severely impacted the tourism sector owing to the closing down of businesses and lower demand for travel due to social distancing. The pandemic has been compelling organizations to utilize virtual meetings and hybrid events. The pandemic has changed the nature of the industry owing to the rise in remote working technologies thereby leading to the emergence of hybrid events. The flexibility has enabled the MICE industry to revive despite the lockdown orders. However, the restricted networking opportunities in virtual events impacted the MICE industry.
Additionally, the MICE events provide revenue to hospitality and local tourism during the off-season thereby driving the demand for the MICE market. The rising trend of B-leisure trips is also increasing the adoption of MICE events. As per Convention Industry Council, 85% of the meetings in the U.S are held in venues that provide lodging services. MICE travelers travel in larger groups and large corporate events help in increasing the hotel's occupancy exponentially. The MICE traveler help in strengthening the tourism infrastructure and create multiple opportunities for the locals.
MICE Market Report Highlights:
- On the basis of event type, the meetings segment accounted for 41.2% of the global revenue share in 2021 and the incentive segment is expected to grow at a CAGR of 9.0% in the forecast period
- The rising trend of B-leisure trips is also increasing the adoption of MICE events by employers. According to Convention Industry Council, 85% of the meetings in the U.S were held in venues that provide lodging services. MICE travelers travel in larger groups and large corporate events help in increasing the hotel's occupancy exponentially
- Several players such as Amazon, Facebook, and Twitter announced a hybrid work approach. This has led to higher demand for virtual and hybrid events among MICE attendees
- The number of hybrid events has increased significantly in recent months. The combination of in-person events and digital technology has led to a wider reach and also has helped in acquiring newer target groups
- Asia Pacific dominated the market and accounted for a 43.2% share of global revenue in 2021. The rise in per capita income, rapid urbanization and rapidly changing consumer lifestyle are expected to positively impact the MICE market. The expansion of hotel chains in India has created a new space for the development the of MICE market
Product Code: GVR-4-68039-999-4
Table of Contents
Chapter 1. Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definition
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 Gvr's Internal Database
- 1.3.3 Secondary Sources And 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 and Publishing
Chapter 2. Executive Summary
- 2.1 Market Outlook
- 2.2 Event Type Outlook
- 2.3 Distribution Channel Outlook
- 2.4 Regional Outlook
Chapter 3. Market Variables, Trends, & Scope
- 3.1 Market Introduction
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Value Chain Analysis
- 3.4 Market Dynamics
- 3.4.1 Driver Impact Analysis
- 3.4.1.1 Growing Demand For B-Leisure Trips
- 3.4.1.2 Technological Advancements In MICE Events
- 3.4.2 Restraint Impact Analysis
- 3.4.2.1 High Operational Costs Associated With MICE Events
- 3.4.3 Industry Challenges
- 3.4.4 Industry Opportunities
- 3.4.1 Driver Impact Analysis
- 3.5 Business Environment Analysis
- 3.5.1 MICE Industry Analysis - Porter's Five Forces
- 3.6 Roadmap of MICE Market
- 3.7 Market Entry Strategies
- 3.8 Impact of COVID-19 on MICE Market
Chapter 4. Consumer Behavior Analysis
- 4.1 Demographic Analysis
- 4.2 Consumer Trends & Preferences
- 4.3 Factors Affecting Buying Decision
- 4.4 Consumer Product Adoption
- 4.5 Observations & Recommendations
Chapter 5. MICE Market: Event Type Estimates & Trend Analysis
- 5.1 Event Type Movement Analysis & Market Share, 2021 & 2030
- 5.2 Meetings
- 5.2.1 Meetings Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 5.3 Incentives
- 5.3.1 Incentives Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 5.4 Conferences
- 5.4.1 Conferences Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 5.5 Exhibitions
- 5.5.1 Exhibitions Market Estimates And Forecast, 2017 - 2030 (USD Billion)
Chapter 6. MICE Market: Regional Estimates & Trend Analysis
- 6.1 Regional Movement Analysis & Market Share, 2021 & 2030
- 6.2 North America
- 6.2.1 North America MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.2.2 North America MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.2.3 U.S.
- 6.2.3.1 U.S. MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.2.3.2 U.S. MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.2.4 Canada
- 6.2.4.1 Canada MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.2.4.2 Canada MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.3 Europe
- 6.3.1 Europe MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.3.2 Europe MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.3.3 U.K.
- 6.3.3.1 U.K. MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.3.3.2 U.K. MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.3.4 Germany
- 6.3.4.1 Germany MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.3.4.2 Germany MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.3.5 France
- 6.3.5.1 France MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.3.5.2 France MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.4.2 Asia Pacific MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.4.3 China
- 6.4.3.1 China MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.4.3.2 China MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.4.4 India
- 6.4.4.1 India MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.4.4.2 India MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.4.5 Japan
- 6.4.5.1 Japan MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.4.5.2 Japan MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- 6.5 Central & South America
- 6.5.1 Central & South America MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.5.2 Central & South America MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.5.3 Brazil
- 6.5.3.1 Brazil MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.5.3.2 Brazil MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.6 Middle East & Africa
- 6.6.1 Middle East & Africa MICE Market Estimates And Forecast, 2017 - 2030 (USD Billion)
- 6.6.2 Middle East & Africa MICE Market Estimates And Forecast, By Event Type, 2017 - 2030 (USD Billion)
- 6.6.3 South Africa
- 6.6.3.1 South Africa MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.6.3.2 South Africa MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
Chapter 7. MICE Market: Competitive and Vendor Analysis
- 7.1 Key Global players, Recent developments, and their Impact on the industry
- 7.2 Key Company Categorization
- 7.2.1 List Of Companies
- 7.3 Vendor Landscape
- 7.3.1 Key Company Market Position Analysis, 2021
Chapter 8. Company Profiles
- 8.1. BCD Group
- 8.1.1. Company Overview
- 8.1.2. Product Benchmarking
- 8.1.3. Strategic Initiatives
- 8.2. AVIAREPS AG
- 8.2.1. Company Overview
- 8.2.2. Product Benchmarking
- 8.2.3. Strategic Initiatives
- 8.3. Beyond Summits Ltd.
- 8.3.1. Company Overview
- 8.3.2. Product Benchmarking
- 8.4. ITL World Company (MICEMINDS)
- 8.4.1. Company Overview
- 8.4.2. Product Benchmarking
- 8.5. IMC International
- 8.5.1. Company Overview
- 8.5.2. Product Benchmarking
- 8.6. Global Air-American Express Travel Services
- 8.6.1. Company Overview
- 8.6.2. Product Benchmarking
- 8.7. Questex
- 8.7.1. Company Overview
- 8.7.2. Product Benchmarking
- 8.8. Capita Plc
- 8.8.1. Company Overview
- 8.8.2. Product Benchmarking
Chapter 9. KOL Commentary
Product Code: GVR-4-68039-999-4
List of Tables
- Table 1 Global MICE market - Driving factor market analysis
- Table 2 Global MICE market - Restraint factor market analysis
- Table 3 Meetings market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 4 Incentives market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 5 Conferences market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 6 Exhibitions market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 7 North America MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 8 North America MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 9 U.S. MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 10 U.S. MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 11 Canada MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 12 Canada MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 13 Europe MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 14 Europe MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 15 U.K MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 16 U.K MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 17 Germany MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 18 Germany MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 19 France MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 20 France MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 21 Asia Pacific MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 22 Asia Pacific MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 23 China MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 24 China MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 25 India MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 26 India MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 27 Japan MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 28 Japan MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 29 Central & South America MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 30 Central & South America MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 31 Brazil MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 32 Brazil MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 33 Middle East & Africa MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 34 Middle East & Africa MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 35 South Africa MICE market estimates and forecast, 2017 - 2030 (USD Billion)
- Table 36 South Africa MICE market estimates and forecast, by event type, 2017 - 2030 (USD Billion)
- Table 37 Company Categorization
List of Figures
- Fig. 1 MICE market segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research approaches
- Fig. 5 Primary research process
- Fig 6 Global MICE market - Event type penetration & growth prospect mapping
- Fig. 7 MICE market - Porter's Five Forces Analysis
- Fig. 8 Roadmap of the global MICE market
- Fig. 9 MICE market - Event Type share (%) analysis, 2021 & 2030
- Fig. 10 MICE market - Regional share (%) analysis, 2021 & 2030
- Fig. 11 MICE market: Estimated company market position analysis, 2021
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