Latest News- Meetings, Incentives, Conventions, And Exhibitions (MICE) Market: Meeting is expected to lead the Type segment during 2025-2029

The Meetings, Incentives, Conventions, And Exhibitions (MICE) Market is being driven by Digitalization of travel payments

The Meetings, Incentives, Conventions, And Exhibitions (MICE) Market is expected to grow at a CAGR of 13.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 311.7 billion. The global Meetings, Incentives, Conferences, and Exhibitions (MICE) market is experiencing significant growth due to the increasing globalization and business expansion. Multinational corporations such as Toyota Motor Corporation, Walmart Inc, and Adidas AG are expanding their operations across borders to tap into new markets and opportunities. This trend is driving the demand for MICE services, as companies are willing to invest in travel and events that offer unique experiences and added value. Furthermore, the liberalization of market entry in countries like India, China, and Saudi Arabia is encouraging businesses to expand their market presence through MICE activities. The MICE industry is poised for continued growth, providing opportunities for businesses to connect, engage, and expand globally. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Meeting
  • Incentive
  • Exhibition
  • Convention
• Service
  • Hospitality
  • Transportation
  • Retail
  • Entertainment
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Digitalization of travel payments
• High impact of MICE on employees
• Growing importance of corporate social responsibility

However, the market also witnesses some limitations, which are as follows:

• Threat of growing terrorism
• High operational cost
• Increasing adoption of virtual meeting apps

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Market Scope in Meetings, Incentives, Conventions, And Exhibitions (MICE) Market Research Report

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Research Analysis Overview

The MICE market encompasses meetings, incentives, conferences, and exhibitions, which are key components of group tourism. Effective planning and booking are essential for corporate meetings, seminars, and conferences held in conference centers. Business activities include incentives that foster interconnectedness and knowledge exchange. Health concerns, event technology, artificial intelligence, and augmented reality are shaping the future of MICE events. Cultural understanding is also a significant factor, making MICE a valuable tool for promoting global awareness.

Market Research Overview

The MICE market encompasses meetings, incentives, conferences, and exhibitions, and is a significant segment within the broader business services sector. According to Technavio's market analysis, the global MICE market size is determined by the revenue generated by event management companies, technology providers, and other related businesses. This market includes meetings, incentives, conferences, and exhibitions, but excludes industries such as casino and gaming, hotels, resorts, and cruise lines, leisure facilities, restaurants, and education services. Technavio's report on specialized business services calculates the MICE market size based on the revenues of event management companies, technology providers, and other related businesses.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/