The MICE industry consists of organizers and suppliers that manage and deliver meetings, conferences, exhibitions, and other related events held to achieve a range of professional, business, cultural, or academic objectives. The activities of the MICE industry play a key role in the future growth for businesses, cities, destinations, and other covered spectrums. Organizers of MICE events also provide other creative services that include show displays, directional signage, banners, kiosks/exhibit space, event photography, and AV/technical production; and event marketing and sponsorship management, group air fulfillment, on-site event logistics and staffing, supplier management, virtual meetings, and risk management services.
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Surge in presence of corporate industries, due to the massive increase in business activities such as client meetings, brand promotions, employee training activities, and others drives the growth of the global MICE industry. Moreover, rise in government initiatives to promote SMEs and liberalization of market entry to increase FDIs are anticipated boost the growth further. Other significant factors that promote the growth of the market are change in lifestyle of business travelers to seek leisure trips, rapid urbanization, and industrial growth. Moreover, infrastructural development and continuous technological advancements fuel the market growth. However, high cost associated with MICE events and uncertain global geopolitical conditions hamper growth of the market. Factors such as investments in infrastructural development and technological advancements are expected to provide lucrative opportunities for market growth.
The global MICE industry is segmented based on event type into meetings, incentives, conventions, and exhibitions.
The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA to understand its regional trends. The report highlights the drivers, restraints, opportunities, and growth strategies adopted by the key players to understand the dynamics and potential of the market. Key players operating in the global MICE industry are also profiled to provide a competitive landscape of the marketspace.
The major players profiled in the report are as follows:
• BI Worldwide
• ITA Group, Inc.
• One10 LLC
• Meetings and Incentives Worldwide (M&IW)
• Creative Group, Inc.
• ACCESS Destination Service
• 360 Destination Group
• CSI DMC
• Carlson Wagonlit Travel
• BCD Group
• ATPI Ltd
• Conference Care Ltd
• The Freeman Company
• The Interpublic Group of Companies, Inc.
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the MICE Industry with current and future trends to elucidate the imminent investment pockets in the market.
• It presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
• Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.
• Market player positioning in the report provides a clear understanding of the position of leading companies.
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KEY MARKET SEGMENTS
BY EVENT TYPE
O NORTH AMERICA
§ REST OF EUROPE
§ SOUTH KOREA
§ REST OF ASIA-PACIFIC
§ LATIN AMERICA
§ MIDDLE EAST
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