According to a new report published by Allied Market Research, titled, “MICE industry”. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global MICE industry size was valued at $805.0 billion in 2017, and is estimated to reach $1,337.4 billion by 2028, registering a CAGR of 21.3% from 2021 to 2028.
Get Free Sample Report PDF: https://www.alliedmarketresearch.com/request-sample/2433
Surge in globalization of businesses, increase in SMEs across the world, and growth of travel & tourism industry propel the growth of the industry. However, increase in social and geopolitical uncertainty and high cost of operation related to MICE events restrain the growth in the market. On the other hand, rise in infrastructural investments and technological advancements create new opportunities in the industry.
Fast-paced growth in the travel & tourism industry, surge in globalization, increase in the number of SMEs, and rise in disposable income fuel the global MICE market. On the other hand, high operational cost of conducting MICE events and increase in geopolitical and social uncertainties hamper the market growth. On the contrary, technological developments and infrastructural investments create lucrative business opportunities.
Based on event type, the meetings segment held the major market share in 2017, accounting for more than three-fifths of the total share. This is due to better infrastructure and the trend of organizing hybrid meetings that involves the usage of various meeting and social media apps. On the other hand, the incentives segment is expected to register the highest growth rate, with a CAGR of 8.1% from 2018 to 2025, owing to focus of companies in developing countries on offering complete packages and comprehensive experience rather than only hotel rooms. Moreover, they offer concessions and add-ons, which in turn, supplements growth for the segment. The research also analyzes conventions and exhibitions.
Based on region, Europe, followed by Asia-Pacific and North America, contributed to the highest share in 2017, holding more than two-fifths of the total share, and is expected to maintain dominance during the forecast period. The global MICE market across Middle East is anticipated to exhibit the fastest CAGR of 25.3% during the forecast period.
Procure Complete Report (248 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/ea313a25d9258ef8b1603fa5e52497b9
Key market players analyzed in the research include Questex, LLC, IBTM Events, CWT Meetings & Events, Capital Travel and Events, BCD Meetings and Events, Conference Care Ltd., CiEvents, ATPI Ltd., The Freeman Company, and Interpublic Group of Companies, Inc.
Key findings of the study:
○ The MICE industry was valued at $215.1 billion in 2020, and is estimated to reach $1,337.4 billion by 2028, growing at a CAGR of 21.3% during the forecast period.
○ By event type, the incentive segment is estimated to witness the fastest growth, registering a CAGR of 24.1% during the forecast period.
○ In 2020, depending on event type, the meeting segment was valued at $132.9 billion, accounting for 61.7% of the global MICE industry share.
○ In 2020, the U.S. was the most prominent market in North America, and is projected to reach $109.1 billion by 2028, growing at a CAGR of 22.9% during the forecast period.
Reasons to Buy This MICE Industry Report:
○ Mergers and acquisitions should be well-planned by identifying the best manufacturer.
○ Sort new clients or possible partners into the demographic you’re looking for.
○ Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
○ Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
○ To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
○ Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
○ To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.
Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/2433
Similar Reports:
○ Asia-Pacific MICE Industry is expected to grow at a CAGR of 8.6%
○ Europe Events Market is projected to reach $123.9 billion by 2030
○ Sports Events Market is projected to reach $609.07 billion by 2031
○ Music Event Market is projected to reach $481.4 billion by 2031
○ Sports Training Market is projected to reach $18.85 billion by 2031
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com