1. What is the projected Compound Annual Growth Rate (CAGR) of the MICE?
The projected CAGR is approximately XX%.
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MICEMICE by Type (Meetings, Incentives, Conferencing, Exhibitions), by Application (Academic Field, Business Field, Political Field, Others), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2025-2033
The global Meetings, Incentives, Conferences, and Exhibitions (MICE) market was valued at USD 834.48 billion in 2021 and is projected to grow at a CAGR of 9.2% over the forecast period (2023-2030). This growth can be attributed to factors such as the rising disposable income, increasing corporate spending on business events, and the growing popularity of experiential marketing. The Asia Pacific region is expected to experience significant growth in the MICE market due to its large population base, growing economies, and increasing number of international events.
The MICE market is highly fragmented, with numerous players operating in different regions. Some of the key players in the global MICE market include CWT Meetings & Events, BCD Meetings & Events, American Express Global Business Travel, and Carlson Wagonlit Travel. These companies offer a range of services, including venue sourcing, event planning, transportation, and accommodation. The market is also characterized by the presence of several regional players, such as PT Pamerindo Indonesia, GEM INDONESIA, and Debindo-ITE in Indonesia. These companies have a strong understanding of the local market and offer customized solutions to meet the needs of their clients.
The MICE industry is witnessing significant growth, with the global market valued at around USD 1.2 trillion in 2022. This upward trend is driven by the increasing demand for business meetings, incentives, conferences, and exhibitions across various sectors. The industry is expected to continue its growth trajectory, reaching a projected value of USD 2 trillion by 2028, exhibiting a CAGR of approximately 7.5% over the forecast period.
Several key insights are shaping the MICE landscape:
The MICE industry is fueled by several factors that contribute to its continued growth:
Despite its growth potential, the MICE industry faces certain challenges and restraints:
Dominating Region: Asia-Pacific is projected to be the dominant region in the global MICE market, owing to the region's strong economic growth, rising disposable income, and increasing demand for business events.
Dominating Segments: Within the MICE industry, the following segments are expected to drive market growth:
Several factors are poised to drive the growth of the MICE industry in the coming years:
Several prominent companies are shaping the global MICE landscape:
The MICE industry has witnessed several recent developments that shape its future:
This report provides a comprehensive analysis of the MICE industry, covering key trends, driving forces, challenges, growth catalysts, leading players, and significant developments. The report offers insights into the global and regional markets, as well as the various segments that drive the industry's growth. By understanding
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of XX% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately XX%.
Key companies in the market include PT Pamerindo Indonesia, GEM INDONESIA, Debindo-ITE, MELALI MICE, Association of The Indonesia Tours & Travel Agencies, Indonesian Congress and Convention Association, Indonesian Exhibition Companies Association, Jakarta Convention & Exhibition Bureau, .
The market segments include Type, Application.
The market size is estimated to be USD XXX million as of 2022.
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Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4480.00, USD 6720.00, and USD 8960.00 respectively.
The market size is provided in terms of value, measured in million.
Yes, the market keyword associated with the report is "MICE," which aids in identifying and referencing the specific market segment covered.
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
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