According to the recent study the MICE market is projected to reach an estimated $1,423.0 billion by 2028 from $912.2 billion in 2023, at a CAGR of 9.3% from 2023 to 2028. Growth in this market is primarily driven by rapid globalization, growing number of B2B/B2C events sponsored by enterprises, and rising number of business travellers for corporate events and exhibitions.
A more than 150 – page report is developed to understand trends, opportunities and forecast in MICE market by event type (meetings, incentives, conferences, and events) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Meetings market is expected to remain the largest segment during the forecast period.”
Based on event type, the MICE market is segmented into meetings, incentives, conferences, and events. Lucintel forecasts that the meetings market is expected to remain the largest segment because of the growing number of business events globally coupled with rising trend of organizing hybrid meetings that involve usage of social media and meeting apps.
“Asia pacific will dominate the MICE market in near future”
APAC will remain the fastest growing region over the forecast period due to economic growth, significant rise of SMEs, expansion of corporate industries, and globalization of businesses in the region.
Major players of MICE market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BCD Group, AVIAREPS AG, Beyond Summits, ITL World Company (MICEMINDS), IMC International, Global Air-American Express Travel Services, Questex, and Capita Plc are among the major MICE providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]