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Increasing number of corporate meetings and events from the business sectors and growing acceptance of online travel agencies are likely to aid in market growth

HYDERABAD, TELANGANA, INDIA, February 1, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that MICE Industry Market size is estimated to reach $1,780 million by 2026, growing at a CAGR of 6.1% over 2021-2026. MICE Industry is a type of tourism services where organizers and suppliers manage & deliver meetings, seminars, exhibitions, and other events. MICE event organizers provide different services such as show displays, brand promotion, on-site event logistics and staffing, supplier management, virtual meetings, and risk management services. This industry also offers services in luxury tourism that provides medical facilities services. Increasing number of corporate meetings and events from the business sectors and growing acceptance of online travel agencies are the major factors driving the growth of this market. Furthermore, rising disposal income and increasing investments in the development of infrastructure and technological advancements is set to further enhance the overall market demand for MICE Industry Market for the period 2021-2026.

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https://www.industryarc.com/Research/MICE-Industry-By-Event-Type-Report-Market-Research-507126

Key takeaways:

This IndustryARC report on the MICE Industry Market highlights the following areas -

1. Geographically, in 2020, North America dominated the MICE Industry Market owing to increasing attraction towards MICE tourism industry and rising trends of social networking platform.

2. Increasing number of corporate meetings and events from the business sectors and growing acceptance of online travel agencies are likely to aid in the market growth of the MICE Industry.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the MICE Industry Market report.

4. High cost associated with MICE events and uncertain global geopolitical conditions is set to create hurdles for the MICE Industry Market.

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Segmental Analysis:

MICE Industry Market Segment Analysis – By Type : The global MICE Industry Market based on Type can be further segmented into Meetings, Incentives, Conventions, and Exhibitions. The Meetings segment is the major segment generating revenue in 2020.

MICE Industry Market Segment Analysis – By Application : The global MICE Industry Market based on application can be further segmented into Academic Field, Business Field, and Political Field. The Business Field segment registered highest market share in 2020.

MICE Industry Market Segment Analysis – By Geography :North America dominated the MICE Industry Market with major share of 40% in 2020. This is owing to increasing attraction towards MICE tourism industry and rising trends of social networking platform that increases the demand of this market.

Competitive Landscape:

The top 5 players in the MICE Industry are -

1. Maritz
2. IBTM Events
3. Capital Travel and Events
4. BCD Meetings and Events
5. Conference Care Ltd.

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Related Reports:

A. Caribbean MICE Market
https://www.industryarc.com/Research/Caribbean-MICE-Market-Research-507159

B. Business-to-Business Market
https://www.industryarc.com/Research/Business-to-Business-Market-Research-504088

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