MICE Industry Size is Expected to Rise $1,337.4 Billion by 2028

0
185


Mice Industry.

Mice Industry.

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

The growing adoption of these online video conferencing technologies may have a negative effect on the global MICE industry demand in the foreseeable future.”

— Aniket Kadam

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, March 11, 2023 /EINPresswire.com/ — 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.

Procure Complete Report (248 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/a2387716d01e51cc8e88e31ffb2e85a3

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.

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.

Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/2433

Reasons to buy:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

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
https://www.alliedmarketresearch.com/sports-events-market-A16874

○ Music Event Market is projected to reach $481.4 billion by 2031
https://www.alliedmarketresearch.com/music-event-market-A08029

○ Sports Training Market is projected to reach $18.85 billion by 2031
https://www.alliedmarketresearch.com/sports-training-market-A16942

○ Lottery Market is projected to reach $430.4 billion by 2031
https://www.alliedmarketresearch.com/online-lottery-market-A14339

David Correa
Allied Analytics LLP
+1-800-792-5285
email us here

What Sets Us Apart ? – Allied Market Research





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here