MICE Market Research Report Information by Event Type (Meetings, Incentives, Conferences, and Exhibitions), Booking Mode (Online and Offline), and By Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa) – Industry Foreca

MICE Market Research Report Information by Event Type (Meetings, Incentives, Conferences, and Exhibitions), Booking Mode (Online and Offline), and By Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa) – Industry Forecast Till 2032

In 2023, the MICE market was valued at USD 933.22 billion. The MICE market is expected to increase from USD 993.44 billion in 2024 to USD 1,891.53 billion in 2032, with a compound annual growth rate (CAGR) of 8.38% over the forecast period (2024-2032). Today's technological advancements are driving the need for processed MICE. In the ever-changing landscape of the Global Meetings, Incentives, Conferences, and Exhibitions/Events (MICE) sector, technological innovations are a transformative force, redefining how events are envisioned, planned, and experienced. The use of cutting-edge technology such as virtual and augmented reality (VR/AR), mobile event apps, and complex event management software has become a trademark of the sector, contributing to its expansion and global significance.

Market Segment insights
The MICE Market is divided into four event types: meetings, incentives, conferences, and exhibitions.
The MICE Market is divided into two categories based on booking mode: online and offline.

Regional insights
In 2022, the Europe MICE market will have the biggest market share (44.56%), with a CAGR of 8.3%. Europe is a key player in the global Meetings, Incentives, Conferences, and Exhibitions/Events (MICE) sector, owing to its rich historical relevance, cultural diversity, and world-class infrastructure. The continent has established itself as a prominent destination for a variety of business events, attracting organizers, professionals, and delegates from all over the world.

North America is a powerhouse in the Meetings, Incentives, Conferences, and Exhibitions/Events (MICE) industry, with a mature and well-established market that plays an important part in the worldwide business events scene. The United States and Canada are key players in this dynamic sector, having established a reputation for hosting a wide range of international conferences, exhibits, and corporate events.

The Asia Pacific area has emerged as a vibrant and quickly expanding player in the worldwide Meetings, Incentives, Conferences, and Exhibitions/Events (MICE) industry. Countries such as China, Japan, Singapore, and Australia have established themselves as significant international conference and event destinations, contributing to the region's growing importance in the business events sector.

The MICE market in South America benefits from increased globalization. As firms expand and seek new markets, South America becomes an appealing location for hosting events that promote international collaboration. The region's strategic geographic placement between North America, Europe, and Asia makes it an ideal meeting spot for experts from all over the world.

The Middle East and Africa (MEA) area is seeing a significant increase in Meetings, Incentives, Conferences, and Exhibitions/Events (MICE) activities, owing to strategic investments, infrastructure development, and a commitment to positioning key cities as global hubs for business events.

Major Players
Thai Airways International Public (Thailand), International Travel House Ltd. (India), MICE Service Groups (Switzerland), Cathay Pacific Airways Limited (China), MICE Hospitality (Singapore), GLOBAL MICE LTD (UK), Meetings and Incentives Worldwide, Inc. (USA), Creative Group, Inc. (USA), and FCM Meetings & Events (Singapore) are among the major players in the MICE industry.