Meetings, Incentives, Conferences, and Exhibitions (MICE) Market |
The meetings, incentives, conferences, and exhibitions (MICE) industry refers to promoting events such as corporate meetings, seminars, exhibitions, conferences, and incentive trips. MICE events are generally used by companies and organizations to reward employees, launch new products, train personnel, build brand awareness, promote business networking and gain leads.
The global
MICE Market is estimated to be valued at US$
192.39 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for creative business meetings from corporates aiming to
promote team bonding and collaborative work culture is a key trend driving the
growth of the MICE market. Various MICE event service providers are focusing on
unique experiences and venues to attract corporates in order to gain a
competitive advantage. They are organizing recreational activities, adventure
events and theme-based meetings. This encourages employees to think
out-of-the-box and fosters innovation within organizations. The integration of
latest technologies also offers an engaging experience to the participants.
Such factors are positively impacting the MICE market growth.
Segment Analysis
The global meetings, incentives, conferences, and exhibitions (MICE) industry
is segmented on the basis of event type, source, and industry vertical. The
events type segment includes corporate events, expositions/trade shows,
conventions, and conferences. Among these, the corporate events segment
dominates the market owing to rising demand from corporates for team building
activities and employee engagement programs.
Key Takeaways
The global Meetings,
Incentives, Conferences, And Exhibitions (MICE) Market is expected to
witness high growth over the forecast period of 2024 to 2031. The global MICE
Market is estimated to be valued at US$ 192.39 Mn in 2024 and is expected to
exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.
Regional
analysis shows that North America currently holds the largest share due to
strong presence of event management companies and availability of various
venues in the US and Canada. The Asia Pacific region is expected to witness the
fastest growth attributed to rising tourism and business activities in major
countries like India and China.
Key players operating in the meetings, incentives, conferences, and exhibitions
(MICE) market are Ancol Pet Products Limited, Blue Buffalo Co., Ltd., Champion
Petfoods LP, Hill`s Pet Nutrition, Inc., and Mars, Incorporated. These players
are focusing on promoting MICE events to attract more customers and enhance
their regional presence. Improving technology infrastructure is also helping
event organizers in countries like India and China to host larger events.
For more
insights, read- https://www.newsstatix.com/meetings-incentives-conferences-and-exhibitions-mice-market-trends-size-and-share-analysis/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/plant-based-meat-market-growth.html
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