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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