Meetings, Incentives, Conventions, and Exhibitions (MICE) Market to grow by USD 167 billion from 2022 to 2027, the market is fragmented due to the presence of prominent companies like 360 Destination Group, ATPI Ltd. and BCD Group - Technavio
NEW YORK, Sept. 24, 2023
NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The meetings, incentives, conventions, and exhibitions (mice) market is estimated to grow by USD 167 billion from 2022 to 2027, growing at a CAGR of 9.2%. The meetings, incentives, conventions, and exhibitions (MICE) market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer meetings, incentives, conventions, and exhibitions (MICE) market are 360 Destination Group, ATPI Ltd., BCD Group, BI WORLDWIDE, Capita Plc, Carlson, Inc., Conference Care Ltd., Coterie Spark, CSI DMC, Direct Travel Inc., Flight Centre Travel Group Ltd., GL events Group, ITA Group Inc., Maritz Holdings Inc., Meetings and Incentives Worldwide Inc., One10 LLC, Questex Media Group LLC, RELX Plc, REVEZ Corp. Ltd., and Sustain Europe. The report provides a full list of key companies, their strategies, and the latest developments. Download FREE Sample before buying
- 360 Destination Group - The company offers meetings, incentives, conventions, and exhibitions such as off-site events, virtual and hybrid events, and conferences.
- ATPI Ltd. - The company offers incentives to create a unique conference experience to empower the staff for the year ahead, by providing an environment in which the attendees could focus on planning and forecasting, whilst including fun and interactive elements to their overall experience.
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By Geography, the market is classified as North America, Europe, APAC, Middle East and Africa, and South America. North America will have the largest share of the market.
- North America is estimated to contribute 34% to the growth of the global market during the forecast period. The competitiveness of the North American travel business has increased significantly, leading to excess demand for air travel. This leads to a MICE market share war between traditional airlines and low-cost airlines, especially on popular routes, which is expected to result in expected price drops. However, the low prices offered will help offset the increase in additional fees, as they continue to see them as a new source of revenue. Furthermore, this growth is due to the growing number of online portals that have the potential to positively impact the US business travel industry. Detroit, Phoenix, Cleveland, Minneapolis, and Denver remain the most popular business travel destinations in the US. Hence, these factors are expected to drive market growth in the region during the forecast period.
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- Impactful driver- Digitalization of travel payments
- Key Trend - Rapid increase in globalization
- Major Challenges - the threat of growing terrorism
- By Type, the market is classified into meetings, incentives, exhibitions, and conventions. The meeting segments are estimated to witness significant growth during the forecast period.
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- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Service
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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