Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumer's purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of the consumers have shifted towards online shopping from March 2020 to December 2020.
MICE Industry Market Overview
The MICE industry involves suppliers and organizers that deliver and manage a conference, exhibition, meetings, and other events. These events are held to achieve objectives such as cultural, academic, professional, and business. Creative services such as banners, event photography, event marketing, sponsorship management, kiosks/exhibit space, AV/technical production, supplier management, virtual meetings, and risk management services are provided by MICE event organizers. MICE industry activities play important role in the future growth of businesses, cities, and other fields.
Meeting travel, Incentive travel, Conference travel, and Exhibition travel are four types of travel markets included by the MICE industry. The huge increase in the business activities such as employee training activities, brand promotion, client meetings, and other drive the growth of the global MICE industry. Thanks to government initiatives to encourage SMEs and liberalization of market entry to increase FDIs are expected to boost the growth of the global MICE industry further. Other important aspects to upsurge the market are growing urbanization, rapid industrial growth and changing lifestyle of business travelers, etc. Furthermore, fast development in infrastructure and improvement in technologies are expected to fuel the market growth in upcoming years. The MICE industry is rising due to the growth of the corporate sector globally, increase in Foreign Direct Investment, booming Small and Medium Scale Enterprises. Also, a continuous increase in global tourism is anticipated to boost the growth of the MICE industry in the future. Additionally, an increase in disposable income of people and expansion in the events for business activities by the companies or individuals are expected to increase the growth of the MICE industry.
On other hand, the high cost of MICE events may hamper the growth of the market. However technological advancement and a good investment for infrastructure are some factors that will open good opportunities for the market in incoming years.
MICE Industry Market Segment Overview
The meeting segment has the highest share in the MICE industry. This is due to the increase in the globalization of businesses. Besides, rapid growth in the hospitality sector, has further added to the growth of this segment. Vast use of social media, meeting apps, and trends of hybrid meetings are expected to boost the market growth in the future.
Incentive travel is a reward subset of a recognition program, which is a business tool planned to change consumer behaviour to improve profit, employee engagement and customer engagement. Generally, the incentive trip included hotel stays, tour packages, etc. The incentive segment boost in the market due to the rapid growth in the travel and tourism industry.
MICE Industry Regional Overview
The Europe region is anticipated to hold the highest market share in the MICE industry over the forecast period. Owing to rise in the adaptation of smart devices, an increase in meeting activities, and the rise in penetration of the internet in this region are some reasons facilitating market development. Furthermore, the Asia-Pacific region also shows remarkable growth in the market, due to an increase in business and tourism activities, supportive government regulations, and higher acceptance of AI & IoT. Additionally, most of the countries in this region are developing countries and these countries offer profitable business opportunities for investors.
MICE Industry Market, Key Players
• Inc, Conference Care Ltd
• BI Worldwide, Ltd.
• ITA Group
• BCD Group
• One10
• LLC Meetings and Incentives Worldwide (M&IW)
• ACCESS Destination Service
• 360 Destination Group
• CSI DMC
• Maritz
• Cievents
• the Freeman Company
• IBTM
• ATPI Ltd
• Carlson Wagonlit Travel
• Creative Group, Inc.
• the Interpublic Group of Companies, Inc.
• others.
MICE Industry Market Segmentation
MICE Industry Market, By Event type
· Meetings
· Incentives
· Conventions
· Exhibitions
MICE Industry Market, By Applications
· Academic Feild
· Business Feild
· Political Field
· Exhibitions
· Others
MICE Industry market, By Region:
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Event type
- 5.2.1. Meetings
- 5.2.2. Incentives
- 5.2.3. Conventions
- 5.2.4. Exhibitions
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Academic Feild
- 5.3.2. Business Feild
- 5.3.3. Political Field
- 5.3.4. Exhibitions
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Event type
- 6.2.1. Meetings
- 6.2.2. Incentives
- 6.2.3. Conventions
- 6.2.4. Exhibitions
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Academic Feild
- 6.3.2. Business Feild
- 6.3.3. Political Field
- 6.3.4. Exhibitions
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Event type
- 7.2.1. Meetings
- 7.2.2. Incentives
- 7.2.3. Conventions
- 7.2.4. Exhibitions
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Academic Feild
- 7.3.2. Business Feild
- 7.3.3. Political Field
- 7.3.4. Exhibitions
- 7.3.5. Others
- 7.4. Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Event type
- 8.2.1. Meetings
- 8.2.2. Incentives
- 8.2.3. Conventions
- 8.2.4. Exhibitions
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Academic Feild
- 8.3.2. Business Feild
- 8.3.3. Political Field
- 8.3.4. Exhibitions
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Event type
- 9.2.1. Meetings
- 9.2.2. Incentives
- 9.2.3. Conventions
- 9.2.4. Exhibitions
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Academic Feild
- 9.3.2. Business Feild
- 9.3.3. Political Field
- 9.3.4. Exhibitions
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa MICE Industry Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Event type
- 10.2.1. Meetings
- 10.2.2. Incentives
- 10.2.3. Conventions
- 10.2.4. Exhibitions
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Academic Feild
- 10.3.2. Business Feild
- 10.3.3. Political Field
- 10.3.4. Exhibitions
- 10.3.5. Others
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Inc, Conference Care Ltd
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. BI Worldwide, Ltd.
- 11.6. ITA Group
- 11.7. BCD Group
- 11.8. One10
- 11.9. LLC Meetings and Incentives Worldwide (M&IW)
- 11.10. ACCESS Destination Service
- 11.11. 360 Destination Group
- 11.12. CSI DMC
- 11.13. Maritz
- 11.14. Cievents
- 11.15. the Freeman Company
- 11.16. IBTM
- 11.17. ATPI Ltd,
- 11.18. Carlson Wagonlit Travel
- 11.19. Creative Group, Inc.
- 11.20. the Interpublic Group of Companies, Inc.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
