MICE Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2020-2024
Global mice market is likely to post an incremental growth of $ 38.45 billion, accelerating at a CAGR of over 2% during the forecast period. This research provides a detailed analysis of the market segments and geographic landscape. It also offers insights into the various growth factors and challenges that are likely to have a negative impact on market growth. This thorough research will equip clients with the insights necessary to plan and strategize a post-pandemic recovery plan.
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MICE Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented by Type (Meeting, Incentive, Exhibition, and Convention) and Geography (North America, Europe, APAC, MEA, and South America).
- Growth by the meeting segment will be significant during the forecast period. This growth is primarily owing to the growing expansions of companies, which has resulted in more job opportunities, and consequently the need for meetings, trainings, team connects, and strategy sessions.
- 40% of the market growth will originate from APAC during the forecast period. Market growth in this region will be faster than the growth of the market in other regions. The growing middle-class population, and strengthening of the economies are some of the factors that will drive growth in this region.
This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the MICE Market size.
MICE Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Growing contribution toward GDP and employment will be a significant factor in driving the growth of the MICE Market. The digitalization of payments facilitates the booking and payment of travel plans for companies. Companies can carry out payments in a morcuree se manner due to the availability of options such as virtual payment options. This is another factor contributing to market growth.
- Increasing consumer acceptance of online travel agencies is another factor supporting the MICE market share growth. Travel agencies help companies save on time and avoid hassles that they may have to go through without these travel agencies. They also help the organization save on money in getting the best possible deal on airfares and accommodation for its staff. The traveling portals and agents are coming up with new innovative schemes to further promote their online portals.
- Threat from growing terrorism is a hurdle that needs to be crossed on the path to success.
MICE Market: Vendor Analysis
- The market is fragmented.
- ATPI Ltd., BCD Group, Capita Travel and Events, CWT Global BV, Flight Centre Travel Group Ltd., IBTM Events, Maritz Holdings Inc., Questex, The Freeman Co., and The Interpublic Group of Companies Inc. are some of the major market participants.
- The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.
Key Areas Covered in our Report:
- MICE Market Split by Type
- MICE Market Split by Geography
- North America
- South America
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- ATPI Ltd.
- BCD Group
- Capita Travel and Events
- CWT Global BV
- Flight Centre Travel Group Ltd.
- IBTM Events
- Maritz Holdings Inc.
- The Freeman Co.
- The Interpublic Group of Companies Inc.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
Browse through this other related market research report for more insights into this market:
- Exhibition Organizing Market: The exhibition organizing market is expected to grow by $ 15.29 billion, decelerating at a CAGR of almost 22.08% during the forecast period.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of over 2%.
- What is the incremental growth of the market?
The market is expected to grow by $ 38.45 bn through 2020-2024.
- What is a key factor driving this market?
growing contribution toward GDP and employment will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
40% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ATPI Ltd., BCD Group, Capita Travel and Events, CWT Global BV, Flight Centre Travel Group Ltd., IBTM Events, Maritz Holdings Inc., Questex, The Freeman Co., and The Interpublic Group of Companies Inc.
- What are the market segments covered in this report?
The market is segmented by Type (Meeting, Incentive, Exhibition, and Convention) and Geography (North America, Europe, APAC, MEA, and South America)