About Meetings, Incentives, Conventions and Exhibitions (MICE)
Meetings, incentives, conventions and exhibitions (MICE) is a type of tourism in which large groups are usually planned well in advance. MICE industry includes four words that are meetings, incentives, conventions and exhibitions. Meetings are held in hotel conferences to address a key challenge or set goals for the organization. Incentives are travel rewards means a company provides in return for an excellent professional performance from individual employees, groups, and partners. Conventions are the gathering of people with a common objective to exchange ideas. Exhibitions are the activities organized to show new products and services to potential consumers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Global Meetings, Incentives, Conventions and Exhibitions (MICE) is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Questex, LLC (United States), CWT Meetings and Events (United States), IBTM Events (United States), BCD Meetings and Events (United States), Capita Travel and Events (United Kingdom), CiEvents (United States) and Conference Care Ltd (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are The Freeman Company (United States), ATPI Ltd (United Kingdom) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Meetings, Incentives, Conventions and Exhibitions (MICE) market by and Region.
On the basis of geography, the market of Meetings, Incentives, Conventions and Exhibitions (MICE) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Meetings, Incentives, Conventions and Exhibitions (MICE) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Rising Investment in Tourism Infrastructure and Peoples Attraction towards Hotel and Tourism Sector
Market Growth Drivers:
Increasing Applications of Meetings, Incentives, Conventions and Exhibitions (MICE) in Hotel and Other Sectors. and Surging Demand for Meetings, Incentives, Conventions and Exhibitions (MICE) from Tourism Industry
Challenges:
Stringent Regulations about Economic Impacts of Economic Significance of Meetings, Incentives, Conventions and Exhibitions (MICE)
Restraints:
Lack of Accurate Data Regarding the Economic Significance of Meetings, Incentives, Conventions and Exhibitions (MICE)
Opportunities:
Rapidly Growing Tourism Industry will create Opportunities for Meetings, Incentives, Conventions and Exhibitions (MICE) Market Growth.
Market Leaders and their expansionary development strategies
In March 2021, ATPI Ltd has acquired German Travel Agency from Danish shipping conglomerate AP Moller-Maersk named Hamburg Süd Reiseagentur. With this acquisition, the team and management of ATPI are committed to retaining and growing the number of employees.
In April 2024, Dubai Business Events, part of the Dubai Department of Economy and Tourism and the city’s official convention bureau, announced its first-ever recognition program for Indian intermediaries for meetings, incentives, conferences and events business.
Key Target Audience
Meetings, Incentives, Conventions and Exhibitions (MICE) Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.