USD 1.1 trillion
MICE Market Size, Share, and Growth Analysis
MICE Market By Type of Event (Meetings, Incentives), By Application (Corporate, Healthcare), By Booking Mode (Online, Offline), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25P2011 |
Region:
Global |
Published Date: February, 2025
Pages:
223
|Tables:
66
|Figures:
75
Format -
MICE Market Insights
MICE Market size was valued at USD 1.1 trillion in 2023 and is poised to grow from USD 1.2 trillion in 2024 to USD 2.41 trillion by 2032, growing at a CAGR of 9.1% during the forecast period (2025-2032).
The global MICE industry is the dynamic sector of the international business environment as it allows people to connect and promote cooperation, information interchange, and economic development. This market in return stimulates business networking, where an organization may promote its products or services, make an alliance, or develop new markets. Tourism and income for host towns are promoted through hotel bookings, transportation, food, and entertainment in the global MICE market. Global corporate activity, which increases cross-border collaboration, has been on the rise due to globalization and further requires international meetings and conferences.
Organizations are also being forced to engage in industry-specific events and exhibits through the increased significance of professional growth and information sharing. There are many chances for industry-specific meetings and business partnerships due to the growth of developing markets and industries, such as healthcare, technology, and finance. Despite this growing future of the MICE market, it is not free from constraints. Uncertainty in geopolitics and economic fluctuations may affect the budgets for business and travel, where the event investment and participation can thus be hampered. In addition, security and safety may also pose challenges both for organizers and participants, particularly under the reign of pandemics or instable political conditions. However, two of the most important advancements in the global MICE market are sustainability and technological trends. The global MICE market has grown as concepts on digital platforms, virtual, and hybrid formats for events, and mobile applications, have made it easier and more engaging.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Medium-Scale
Fastest Growth
Large-Scale
Growth Rate
9.1% CAGR
Global MICE Market ($ Bn)
Country Share for North America (%)
To get more reports on the above market click here to Buy The Report
MICE Market Segments Analysis
Global MICE Market is segmented by Type of Event, Application, Booking Mode and region. Based on Type of Event, the market is segmented into Meetings, Incentives, Conferences and exhibitions. Based on Application, the market is segmented into Corporate, Healthcare, Technology, tourism & hospitality and finance & banking. Based on Booking Mode, the market is segmented into Online and Offline. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Event Type
Based on the 2024 global MICE market analysis, 41.27% of sales came from the meetings category. This is because there are more business events happening across the globe. General meetings, management meetings, and shareholder meetings are a few of the varieties. The need for meetings in these areas is also being driven by the growing attractiveness of regional attractions and tier cities with lower population densities. Several countries offer grants to encourage tourism and conferences. Many countries do provide grants on tourism and convention. The Government of Australia offered a grant for USD 50 million. Due to this, MICE will gain eligibility to access grants up to 50% of their outlay.
Over the period between 2025 and 2032, the incentives segment may grow at CAGR of 11.8%. Millennials have increasingly started finding unusual experiences in travel and this has been responsible for driving the incentive category of the market. Organizations award incentives, sometimes referred to as travel rewards, to their employees, partners, affiliates, and teams as a means of showing appreciation and support and boosting morale. Increased desire among millennials to travel has made businesses look for interesting places that are easily accessible. In addition, the growth of leisure travel is further facilitated by the increasing trend of companies developing tailor-made programs.
Analysis By Event Size
As per the 2024 global MICE market forecast, the medium-sized events category, such as regional conferences and seminars, is expected to lead the global MICE market. These events cater to a variety of industries and often achieve a balance between keeping costs in check and offering ample networking opportunities. Regional conferences have become an important platform for industry discussions, B2B networking, and knowledge sharing as companies focus on regional growth and collaboration. As a result of increasing regional alliances, cross-border collaborations, and demands for hybrid events, medium-sized conferences are gaining greater popularity. Their popularity is on the rise mainly because of its targeted demographic, controllable scope, and lower logistical requirements as compared to larger international conferences.
The large-scale events category, which includes trade exhibitions, conventions and more, is expected to grow in the future in the MICE sector. As business organizations expand their bases globally and engage in international cooperation the requirement for large-scale events will continue to increase in the future. Large-scale events present apt mediums for launching new products, sharing ideas, and calling attention from all over the world. Trade fairs and international conventions are seeing a resurgence in participation with returning in-person events post-pandemic, but businesses are concentrating on attracting an international audience. On top of that, it is expected that innovations in virtual platforms and event management technology would expand the impact and reach of a large event, driving growth.
Global MICE Market By Event Size
To get detailed analysis on other segments, Request For Free Sample Report
MICE Market Regional Insights
With a 16.31% revenue share in 2024, the MICE market in North America demonstrated its importance within the global industry. The market has been thriving in particular due to increased enterprise internationalization and the ever-increasing number of international conferences and events. The stimulus for this trend has been demand for a range of meeting locations, services, and facilities that can meet business needs, from small corporate meetings to large industry conferences. Companies look to expand their international reach through global collaboration. Constantly growing demand for professional event services, networking platforms, and modern facilities are pushing the market forward.
The European MICE market is predicted to grow by a significant margin in 2024. However, the regional market is witnessing a high growth rate, which is positive for the development of businesses, communities, and destinations. The resorts in the region are adapting to specialist MICE hotel settings and services as MICE events are becoming more common in Europe. The new labor market and economic conditions led to the increased awareness of companies throughout Europe on reviewing their corporate travel policies and the introduction of new expenditure technology. For example, customized MICE travel reservations can be booked with Europe Incoming company, offering hotels, European excursions, and ground services
Global MICEMarket By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
MICE Market Dynamics
MICE Market Drivers
Increasing Demand for Personalization
-
The need for events tailored to fit individual guests' needs is rapidly increasing as the MICE industry matures. In addition, firms are now finding ways to boost the experience of the event for the attendee, which can be a customized agenda or schedule. This trend will continue to boost innovation in the planning of events as the demand for more personalized, engaging, and interactive MICE events grows.
Government and Industry Support
-
Many finances, subsidies, and incentives from governments and municipal authorities throughout various locations are now coming into the global MICE business. Public programs on travel and business gatherings spur the industry but at the same time promote the local economy and expand major events, conferences, and exhibits in various regions.
MICE Market Restraints
Effects on the Environment
-
The environmental impacts of large-scale events, such as waste generation, energy consumption, and emissions from transportation, have been in the spotlight. Non-environmentally friendly events may attract criticism, which may deter market growth through reduced participation and negative views by attendees and organizers who increasingly focus on sustainability.
Competition from Other Platforms
-
The growth in online and virtual collaboration technologies-webinars, virtual conferences, and online networking platforms limits the MICE industry. Due to the growth in such digital platforms, it is predicted that the demand for in-person events will decrease further as businesses continue to opt for more convenient, cost-effective choices that do not require travel and physical presence-particularly in fields where online service providers offer nearly equivalent networking potential.
Request Free Customization of this report to help us to meet your business objectives.
MICE Market Competitive Landscape
Major event management companies, venues, and suppliers in the MICE business are dominated by Reed Exhibitions, Informa, and Messe Frankfurt among others. As leaders in their field, these companies constantly introduce new solutions such as virtual and hybrid choices to address a diverse portfolio of event services. There is now the development of small-scale firms focused on niche markets or tailored service options. Businesses are compelled to change and innovate their products according to the needs of the market, as fierce competition and advanced technologies keep on changing customer needs.
Top Players in MICE Market
- Maritz Global Events (US)
- BCD Meetings & Events (Netherlands)
- American Express Meetings & Events (US)
- George P. Johnson (US)
- Freeman (US)
- CWT Meetings & Events (US)
- Experient (US)
- MCI Group (Switzerland)
- SHS Group (Germany)
- SMG Worldwide (US)
- House of Events (India)
- TBG Worldwide (India)
- DMC Worldwide (India)
- Wizcraft International Entertainment Pvt. Ltd. (India)
- Fountainhead MICE (India)
- Concept Events (India)
- Dreamz Cruises (India)
- TBH Creations (India)
Mice Market Recent Developments
- Impact Point Group, a national accredited women-owned business and consulting organization providing the full spectrum of strategic event consulting services, was acquired by Freeman in April 2023. The purchase would increase both its revenue and its customers.
- PRM Marketing Services and ITA Group, which provides corporate engagement solutions, partnered in November 2022. The partnership will help the business expand its business across Asia Pacific.
- ISG, the consulting division of Meetings and Incentives Worldwide, Inc., in collaboration with event technology startup Bizly, launched simplified, in July 2022, that would facilitate the organization's strategy for meetings and events.
MICE Key Market Trends
- Green Practices and Sustainability: There has been increased need for sustainability within the global MICE industry, which in turn translates into more ecologic event planning and design techniques, a cutback of waste materials usage of the resourceful ones with low carbon levels for holding these events. Higher business companies along with their patrons are turning to this idea as global green concerns take off. That demands green evening planning on a maximum level
- Hybrid and Virtual Events: As MICE is a blend of digital and in-person experiences, it is growing popular. Such models expand audience reach beyond regional boundaries and allow for more flexibility for the attendee. Hybrid models in the MICE sector are swiftly leading the pack because businesses strive for better access and cost-effectiveness.
MICE Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, due to the growing demand for hybrid & virtual events, technological improvements, and the rising globalization of organizations, the global MICE market is expected to increase significantly. The market is expected to witness an increase in conferences, exhibitions, and corporate meetings as companies are looking to expand their reach and improve networking opportunities globally. Excessive costs, health issues, and geopolitical unpredictability may prevent expansion in certain areas. Despite these challenges, the industry is evolving and attaching more importance to innovation in event management, experiential, and sustainability. The MICE sector is predicted to excel as the business community gets accustomed to the changing tastes and trends of the consumer, which is opening a great deal of opportunities for growth and progress.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.1 trillion |
| Market size value in 2032 | USD 2.41 trillion |
| Growth Rate | 9.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mice Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mice Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mice Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mice Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mice Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mice Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
