MEETINGS, INCENTIVES, CONFERENCES, AND EXHIBITIONS (MICE) MARKET ANALYSIS

Meetings, Incentives, Conferences, and Exhibitions (MICE) MarketSize and Trends

Increase in business activities and customized services to clients are driving growth of the Meetings, Incentives, Conferences, and Exhibition (MICE) market

Rising number of corporate industries across the globe has led to high frequency of business activities such as client meetings and brand promotions worldwide. Therefore, increase in number of meetings and conferences of multinational companies across the globe is a major factor expected to aid in growth of the MICE market size. For instance, according to The Tourism of Government of India, the number of business events in India in MICE industry were 3,310 in 2017 and it is increasing rapidly. Corporate companies spend on meetings, conference, incentive trips, and exhibitions every year. MICE companies are providing customized services at lower rates to corporate clients. MICE companies are single point-of-contact for all business activities of corporate clients. Therefore, this is driving growth of the MICE market.  As MICE market is still emerging, companies operating in this market could focus on the number of untapped corporate clients, government bodies, and private groups.

Market Trends

Rising adoption of virtual meetings apps and increasing business activities in emerging economies are shaping the future of the MICE market.