Global MICE Market Size/Share is anticipated to expand at a CAGR of 18.2% to Reach US$ 1620.7 Billion By 2032 | Custom Market Insights Study

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global MICE Industry size & share revenue was valued at approximately USD 645.7 Billion in 2022 and is expected to reach USD 860.1 Billion in 2023 and is expected to reach around USD 1620.7 Billion by 2032, at a CAGR of 18.2% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are CWT Meetings & Events, BCD Meetings & Events, Carlson Wagonlit Travel, American Express Global Business Travel, Maritz Global Events, Eventbrite, GES (Global Experience Specialists), Freeman, MCI Group, Interpublic Group (IPG), and others.

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Austin, TX, USA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled MICE Market Size, Trends and Insights By Event Type (Exhibitions, Meetings, Incentives, Conventions), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 in its research database.

“According to the latest research study, the demand of global MICE Market size & share was valued at approximately USD 645.7 Billion in 2022 and is expected to reach USD 860.1 Billion in 2023 and is expected to reach a value of around USD 1620.7 Billion by 2032, at a compound annual growth rate (CAGR) of about 18.2% during the forecast period 2023 to 2032.”

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MICE Market: Growth Factors and Dynamics

  • Meeting and Events Industry: The MICE (Meetings, Incentives, Conferences, and Exhibitions) market is driven by various growth factors and dynamics. One key factor is the increasing globalization and interconnectedness of businesses, leading to a growing demand for international conferences, trade shows, and exhibitions. Additionally, the rise of corporate culture and the need for networking and knowledge-sharing opportunities have contributed to the expansion of the MICE market.
  • Business Tourism and Economic Impact: The MICE market plays a significant role in driving business tourism, attracting both domestic and international participants. This influx of visitors contributes to the local economy through increased spending on accommodation, transportation, dining, and leisure activities. Consequently, destinations that successfully host MICE events experience economic growth and improved infrastructure development.
  • Innovation and Technology: The MICE market is influenced by advancements in technology, particularly in event management and communication. Digital platforms, event apps, and virtual meeting tools have revolutionized the way meetings and conferences are conducted, providing greater flexibility, interactivity, and cost-efficiency. The integration of innovative technologies enhances the overall event experience and contributes to the growth of the MICE market.
  • Marketing and Branding Opportunities: MICE events serve as effective platforms for companies to promote their products, services, and brand image. Exhibitions and trade shows enable organizations to showcase their offerings to a targeted audience, generate leads, and foster business partnerships. The MICE market provides companies with valuable marketing opportunities, contributing to brand visibility, customer engagement, and market expansion.
  • Government Support and Infrastructure Development: Governments around the world recognize the economic benefits of the MICE industry and provide support through favorable policies, incentives, and infrastructure development. Investments in convention centers, exhibition halls, and transportation networks create attractive destinations for hosting MICE events. Government initiatives and partnerships with industry stakeholders further drive the growth of the MICE market.
  • Changing Consumer Preferences: The evolving preferences of MICE participants influence the dynamics of the market. Attendees seek unique and immersive experiences, leading to a rise in experiential events, themed conferences, and interactive formats. Additionally, there is a growing demand for sustainable and socially responsible events, prompting event organizers and destinations to incorporate eco-friendly practices and community engagement initiatives.

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Report Scope

Feature of the Report Details
Market Size in 2023 USD 860.1 Billion
Projected Market Size in 2032 USD 1620.7 Billion
Market Size in 2022 USD 645.7 Billion
CAGR Growth Rate 18.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Event Type and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the MICE report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on the Request.
  • Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated.
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
  • Custom Market Insights (CMI) research methodology

(Please note that the sample of the MICE report has been modified to include the COVID-19 impact study prior to delivery.)

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MICE Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the MICE Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Hybrid Event Formats: MICE organizers are embracing hybrid event formats that blend virtual and in-person elements, offering participants the flexibility to attend either physically or remotely. This approach expands event reach, enables wider audience engagement, and mitigates the challenges posed by travel restrictions.
  • Implementation of Health and Safety Measures: Stringent health and safety protocols, including temperature screenings, mandatory mask-wearing, and physical distancing, are being implemented at MICE events to ensure the well-being of attendees. These measures instil confidence among participants and create a secure environment for networking and collaboration.
  • Embracing Digital Transformation: The MICE industry is leveraging digital technologies to host virtual conferences, exhibitions, and interactive sessions. Virtual platforms and online networking tools enable global participation, minimize travel constraints, and enhance the accessibility and convenience of MICE events.
  • Government Support and Stimulus Packages: Governments and tourism bodies are extending financial support, incentives, and favorable policies to aid the recovery of the MICE industry. These initiatives aim to stimulate event planning and attract both domestic and international participants, rejuvenating the sector’s growth.
  • Adaptation and Innovation: MICE organizers and service providers are adapting their offerings and exploring innovative event solutions. This includes organizing smaller-scale events, utilizing outdoor venues, and introducing creative event formats to align with evolving client preferences and cater to changing market demands.
  • Rebuilding Confidence and Demand: As vaccination efforts progress and travel restrictions ease, confidence in attending MICE events is gradually being restored. Efforts to rebuild business relationships, reconnect with clients, and foster networking opportunities are essential in rebuilding demand and revitalizing the industry.

In conclusion, the COVID-19 pandemic has had a mixed impact on the MICE Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Key questions answered in this report:

  • What is the size of the MICE market and what is its expected growth rate?
  • What are the primary driving factors that push the MICE market forward?
  • What are the MICE Industry's top companies?
  • What are the different categories that the MICE Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the MICE market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2023−2032
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the MICE Market:

  • CWT Meetings & Events
  • BCD Meetings & Events
  • Carlson Wagonlit Travel
  • American Express Global Business Travel
  • Maritz Global Events
  • Eventbrite
  • GES (Global Experience Specialists)
  • Freeman
  • MCI Group
  • Interpublic Group (IPG)
  • Others

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MICE Market – Regional Analysis

The MICE Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, a significant trend in the MICE market is the increasing demand for unique and experiential events. Attendees are seeking immersive experiences, incorporating innovative technologies and interactive elements. Dominating market players in this region include Cvent, Eventbrite, and Freeman.
  • Europe: In Europe, sustainability is a prominent trend in the MICE market. There is a growing emphasis on eco-friendly practices, such as reducing carbon footprints, implementing green event guidelines, and promoting responsible event management. Key market players in Europe include UBM (Informa Markets), Reed Exhibitions, and Messe Frankfurt.
  • Asia-Pacific: In the Asia-Pacific region, the MICE market is driven by the rapid growth of emerging economies and the increasing focus on business collaborations. Key trends include the rise of mega-events and international exhibitions, as well as the integration of technology for enhanced attendee engagement. Dominating market players in this region include Pico, UBM Asia, and Messe München.
  • LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, a significant trend in the MICE market is the development of world-class infrastructure and iconic event venues. Countries like Dubai, Abu Dhabi, and South Africa have been investing in state-of-the-art facilities to attract international events. Key market players in this region include Informa Markets, MCI Group, and Thebe Reed Exhibitions.

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The MICE Market is segmented as follows:

By Event Type

  • Exhibitions
  • Meetings
  • Incentives
  • Conventions

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By Region

North America

  • The U.S.
  • Canada
  • Mexico


  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

This MICE Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This MICE Market? What are Their Company Profile, Product Information, and Contact Information?
  • What Was the Global Market Status of the MICE Market? What Was the Capacity, Production Value, Cost and PROFIT of the MICE Market?
  • What Is the Current Market Status of the MICE Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of MICE Market by Considering Applications and Types?
  • What Are Projections of the Global MICE Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is MICE Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is the Economic Impact On MICE Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are the Market Dynamics of the MICE Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for MICE Industry?

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Reasons to Purchase MICE Market Report

  • MICE Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • The MICE Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • MICE Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • MICE Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

  • The study provides a thorough overview of the global MICE market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide MICE market analysis.
  • The competitive environment of current and potential participants in the MICE market is covered in the report, as well as those companies' strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  • Participants and stakeholders worldwide MICE market should find this report useful. The research will be useful to all market participants in the MICE industry.
  • Managers in the MICE sector are interested in publishing up-to-date and projected data about the worldwide MICE market.
  • Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in MICE products' market trends.
  • Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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