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MICE Industry by Event Type (Meetings, Incentives, Conventions, and Exhibitions) - Global Opportunity Analysis and Industry Forecast, 2017-2023

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Pages: 172
Jan 2018 | 8219 Views
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Author's : Yash Doshi
Tables: 81
Charts: 36
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MICE Industry Overview:

Meetings, incentives, conventions, and exhibitions or MICE represents a sector of tourism that includes business events and activities. Travelers attending MICE activities have a purpose beyond leisure tourism, and are in fact business travelers. These business travelers are connected to different sectors of the tourism and hospitality industry through their MICE activities. In general, MICE events are events and activities that involve attendees who share a common interest and gather in a place. The place for the gathering needs to be a venue arranged beforehand. The venue will provide space and facilities necessary to satisfy the needs of those who attend the gathering. The global MICE industry generated revenue of $752 billion in 2016, and is expected to grow at a CAGR of 7.5% to reach $1,245 billion by 2023.

The global MICE industry is gaining popularity worldwide, owing to the increase in frequency of the various types of events and meetings being organized globally, growth in business travel, rise in disposable incomes, and the rapid growth in tourism and hospitability sectors. Currently, technology plays a vital role in the MICE business growth as many corporations adopt e-conferences as a substitute for face-to-face meetings and conferences. The major restraint for the growth of the MICE industry is the operational cost associated with these companies. However, the use of tele-seminars and virtual meetings to eliminate travel expenses may prove out to be a significant growth opportunity in the future.

The market is segmented on the basis of event type and region. Based on event type, the market is classified into meetings, incentives, conventions, and exhibitions. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
 

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Asia-Pacific is expected to be the fastest growing segment during the forecast period, owing to the rapid growth in the business travel sector in recent decades. Furthermore, economic growth, regional cooperation, intellectual development, and high penetration of internet & technology in the densely populated countries are expected to boost the market growth in the region. Penetration of IoT supports both travelers and travel operators in managing different operations related to business travel such as planning, booking, and being updated with the current status of their travel program.
 

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The meetings segment dominated the MICE industry by process in 2016, and the segment is also estimated to witness a healthy growth rate in the future, owing to the growing number of international business travelers, rise in government initiatives for the development of MICE segment & SME sector coupled with ongoing trends of organizing hybrid meetings and use of social media and meeting apps.

The key players profiled in the report are Questex, LLC, CWT Meetings & Events, IBTM Events, BCD Meetings and Events, Capital Travel and Events, CiEvents, Conference Care Ltd., The Freeman Company, ATPI Ltd., and Interpublic Group of Companies, Inc.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the MICE industry market with current and future trends to elucidate the imminent investment pockets.
  • It offers information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
  • Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.
  • Market player positioning in the report provides a clear understanding of the position of leading companies.

MICE Industry Key Segments:

By Event Type

  • Meetings
  • Incentives
  • Conventions
  • Exhibitions

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Spain
    • UK
    • Italy
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • South Korea
    • Japan
    • Australia
    • Singapore
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY

1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Analyst Tools and Models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets
3.2.2. Top impacting factors
3.2.3. Top winning strategies

3.2.3.1. Top winning strategies, by year, 2014-2017*
3.2.3.2. Top winning strategies, by development, 2014-2017* (%)
3.2.3.3. Top winning strategies, by company, 2014-2017*

3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET PLAYERS POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rapid Growth in Travel & Tourism Industry
3.5.1.2. Increase In Globalization Of Businesses
3.5.1.3. Rapid Increase in SMEs
3.5.1.4. Rise in Disposable Income

3.5.2. Restraints

3.5.2.1. Growth in Geopolitical and Social Uncertainties
3.5.2.2. High Operational Cost Associated with MICE Events

3.5.3. Opportunities

3.5.3.1. Technological Advancements
3.5.3.2. Infrastructural Investment

3.5.4. Key Trends

3.5.4.1. The Rise of Social Media
3.5.4.2. Tailor-Made Experiences
3.5.4.3. Pre/Post Connections
3.5.4.4. Shift Towards Virtual and Augmented Elements
3.5.4.5. Non-Traditional Event Spaces

Chapter: 4 MICE INDUSTRY, BY EVENT TYPE

4.1. OVERVIEW

4.1.1. Market size and forecast

4.2. MEETINGS

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, By Region
4.2.3. Market size and forecast, By Country

4.3. INCENTIVES

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, By Region
4.3.3. Market size and forecast, By Country

4.4. CONVENTIONS

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, By Region
4.4.3. Market size and forecast, By Country

4.5. EXHIBITIONS

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, By Region
4.5.3. Market size and forecast, By Country

Chapter: 5 MICE INDUSTRY, BY GEOGRAPHY

5.1. OVERVIEW

5.1.1. Market size and forecast

5.2. NORTH AMERICA

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.2.2.1. U.S.
5.2.2.2. Canada
5.2.2.3. Mexico

5.3. EUROPE

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

5.3.2.1. Germany
5.3.2.2. UK
5.3.2.3. Spain
5.3.2.4. France
5.3.2.5. Italy
5.3.2.6. Rest of Europe

5.4. ASIA-PACIFIC

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

5.4.2.1. Japan
5.4.2.2. China
5.4.2.3. South Korea
5.4.2.4. Australia
5.4.2.5. Singapore
5.4.2.6. Rest of Asia-Pacific

5.5. LAMEA

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast

5.5.2.1. Latin America
5.5.2.2. Middle East
5.5.2.3. Africa

Chapter: 6 COMPANY PROFILES

6.1. ATPI LTD.

6.1.1. Company overview
6.1.2. Company snapshot
6.1.3. Operating business segments
6.1.4. Product portfolio
6.1.5. Key strategic moves and developments

6.2. BCD GROUP (BCD MEETINGS & EVENTS)

6.2.1. Company overview
6.2.2. Company snapshot
6.2.3. Operating business segments
6.2.4. Product portfolio
6.2.5. Business performance
6.2.6. Key strategic moves and developments

6.3. CAPITAL TRAVEL AND EVENTS

6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Operating business segments
6.3.4. Product portfolio

6.4. CARLSON WAGONLIT TRAVEL (CWT MEETINGS & EVENTS)

6.4.1. Company overview
6.4.2. Company snapshot
6.4.3. Operating business segments
6.4.4. Product portfolio
6.4.5. Key strategic moves and developments

6.5. CIEVENTS

6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Operating business segments
6.5.4. Product portfolio
6.5.5. Key strategic moves and developments

6.6. CONFERENCE CARE LTD.

6.6.1. Company overview
6.6.2. Company snapshot
6.6.3. Operating business segments
6.6.4. Product portfolio

6.7. THE FREEMAN COMPANY

6.7.1. Company overview
6.7.2. Company snapshot
6.7.3. Operating business segments
6.7.4. Product portfolio
6.7.5. Key strategic moves and developments

6.8. GRASS ROOTS MEETINGS & EVENTS

6.8.1. Company overview
6.8.2. Company snapshot
6.8.3. Operating business segments
6.8.4. Product portfolio

6.9. IBTM

6.9.1. Company overview
6.9.2. Company snapshot
6.9.3. Operating business segments
6.9.4. Product portfolio
6.9.5. Key strategic moves and developments

6.10. THE INTERPUBLIC GROUP OF COMPANIES, INC.

6.10.1. Company overview
6.10.2. Company snapshot
6.10.3. Operating business segments
6.10.4. Product portfolio
6.10.5. Business performance

6.11. QUESTEX LLC

6.11.1. Company overview
6.11.2. Company snapshot
6.11.3. Operating business segments
6.11.4. Product portfolio
6.11.5. Key strategic moves and developments

LIST OF TABLES

TABLE 1. GLOBAL MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 2. GLOBAL MEETINGS INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 3. NORTH AMERICA MEETINGS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 4. EUROPE MEETINGS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 5. ASIA-PACIFIC MEETINGS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 6. LAMEA MEETINGS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 7. GLOBAL INCENTIVES INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 8. NORTH AMERICA INCENTIVES INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 9. EUROPE INCENTIVES INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 10. ASIA-PACIFIC INCENTIVES INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 11. LAMEA INCENTIVES INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 12. GLOBAL CONVENTIONS INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 13. NORTH AMERICA CONVENTIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 14. EUROPE CONVENTIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 15. ASIA-PACIFIC CONVENTIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 16. LAMEA CONVENTIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 17. GLOBAL EXHIBITIONS INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 18. NORTH AMERICA EXHIBITIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 19. EUROPE EXHIBITIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 20. ASIA-PACIFIC EXHIBITIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 21. LAMEA EXHIBITIONS INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 22. MICE INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 23. NORTH AMERICA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 24. NORTH AMERICA MICE INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 25. U.S. MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 26. CANADA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 27. MEXICO MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 28. EUROPE MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 29. EUROPE MICE INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 30. GERMANY MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 31. UK MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 32. SPAIN MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 33. FRANCE MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 34. ITALY MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 35. REST OF EUROPE MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 36. ASIA-PACIFIC MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 37. ASIA-PACIFIC MICE INDUSTRY, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 38. JAPAN MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 39. CHINA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 40. SOUTH KOREA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 41. AUSTRALIA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 42. SINGAPORE MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 43. REST OF ASIA-PACIFIC MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 44. LAMEA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 45. LAMEA MICE INDUSTRY, BY COUNTRY/REGION, 2016-2023 ($BILLION)
TABLE 46. LATIN AMERICA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 47. MIDDLE EAST MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 48. AFRICA MICE INDUSTRY, BY EVENT TYPE, 2016-2023 ($BILLION)
TABLE 49. ATPI LTD: COMPANY SNAPSHOT
TABLE 50. ATPI LTD: OPERATING SEGMENTS
TABLE 51. ATPI LTD: PRODUCT PORTFOLIO
TABLE 52. BCD GROUP: COMPANY SNAPSHOT
TABLE 53. BCD GROUP: OPERATING SEGMENTS
TABLE 54. BCD GROUP: PRODUCT PORTFOLIO
TABLE 55. CAPITAL TRAVEL AND EVENTS: COMPANY SNAPSHOT
TABLE 56. CAPITAL TRAVEL AND EVENTS: OPERATING SEGMENTS
TABLE 57. CAPITAL TRAVEL AND EVENTS: PRODUCT PORTFOLIO
TABLE 58. CARLSON WAGONLIT TRAVEL: COMPANY SNAPSHOT
TABLE 59. CARLSON WAGONLIT TRAVELCWT: OPERATING SEGMENTS
TABLE 60. CARLSON WAGONLIT TRAVEL: PRODUCT PORTFOLIO
TABLE 61. CIEVENTS: COMPANY SNAPSHOT
TABLE 62. CIEVENTS: OPERATING SEGMENTS
TABLE 63. CIEVENTS: PRODUCT PORTFOLIO
TABLE 64. CONFERENCE CARE LTD.: COMPANY SNAPSHOT
TABLE 65. CONFERENCE CARE LTD.: OPERATING SEGMENTS
TABLE 66. CONFERENCE CARE LTD.: PRODUCT PORTFOLIO
TABLE 67. THE FREEMAN COMPANY: COMPANY SNAPSHOT
TABLE 68. THE FREEMAN COMPANY: OPERATING SEGMENTS
TABLE 69. THE FREEMAN COMPANY: PRODUCT PORTFOLIO
TABLE 70. GRASS ROOTS MEETINGS & EVENTS: COMPANY SNAPSHOT
TABLE 71. GRASS ROOTS MEETINGS & EVENTS: OPERATING SEGMENTS
TABLE 72. GRASS ROOTS MEETINGS & EVENTS: PRODUCT PORTFOLIO
TABLE 73. IBTM EVENTS: COMPANY SNAPSHOT
TABLE 74. IBTM EVENTS: OPERATING SEGMENTS
TABLE 75. IBTM EVENTS: PRODUCT PORTFOLIO
TABLE 76. THE INTERPUBLIC GROUP OF COMPANIES, INC: COMPANY SNAPSHOT
TABLE 77. THE INTERPUBLIC GROUP OF COMPANIES, INC: OPERATING SEGMENTS
TABLE 78. THEINTERPUBLIC GROUP OF COMPANIES, INC: PRODUCT PORTFOLIO
TABLE 79. QUESTEX LLC: COMPANY SNAPSHOT
TABLE 80. QUESTEX LLC:OPERATING SEGMENTS
TABLE 81. QUESTEX LLC:PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 1. GLOBAL MICE INDUSTRY SNAPSHOT
FIGURE 2. GLOBAL MICE INDUSTRY SEGMENTATION
FIGURE 3. TOP INVESTMENT POCKETS, BY EVENT TYPE
FIGURE 4. TOP IMPACTING FACTORS
FIGURE 5. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 6. HIGH BARGAINING POWER OF BUYERS
FIGURE 7. MODERATE THREAT OF SUBSTITUTES
FIGURE 8. HIGH COMPETITIVE RIVALRY
FIGURE 9. MODERATE THREAT OF NEW ENTRANTS
FIGURE 10. MARKET PLAYER POSITIONING, 2016
FIGURE 11. GLOBAL TRAVEL & TOURISM INDUSTRY FORECAST, 2012-2023 ($TRILLION)
FIGURE 12. GROSS NATIONAL INCOME PER CAPITA ANNUAL GROWTH, 2012 - 2015 (%)
FIGURE 13. MICE INDUSTRY SHARE, BY GEOGRAPHY, 2016(%)
FIGURE 14. U.S. MICE INDUSTRY REVENUE, 2016-2023
FIGURE 15. CANADA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 16. MEXICO MICE INDUSTRY REVENUE, 2016-2023
FIGURE 17. GERMANY MICE INDUSTRY REVENUE, 2016-2023
FIGURE 18. UK MICE INDUSTRY REVENUE, 2016-2023
FIGURE 19. SPAIN MICE INDUSTRY REVENUE, 2016-2023
FIGURE 20. FRANCE MICE INDUSTRY REVENUE, 2016-2023
FIGURE 21. ITALY MICE INDUSTRY REVENUE, 2016-2023
FIGURE 22. REST OF EUROPE MICE INDUSTRY REVENUE, 2016-2023
FIGURE 23. JAPAN MICE INDUSTRY REVENUE, 2016-2023
FIGURE 24. CHINA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 25. SOUTH KOREA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 26. AUSTRALIA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 27. SINGAPORE MICE INDUSTRY REVENUE, 2016-2023
FIGURE 28. REST OF ASIA-PACIFIC MICE INDUSTRY REVENUE, 2016-2023
FIGURE 29. LATIN AMERICA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 30. MIDDLE EAST MICE INDUSTRY REVENUE, 2016-2023
FIGURE 31. AFRICA MICE INDUSTRY REVENUE, 2016-2023
FIGURE 32. BCD GROUP: REVENUE, 2014-2016 ($MILLION)
FIGURE 33. BCD GROUP: REVENUE SHARE BY PRODUCT, 2016 (%)
FIGURE 34. THE INTERPUBLIC GROUP OF COMPANIES, INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 35. THE INTERPUBLIC GROUP OF COMPANIES, INC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 36. THE INTERPUBLIC GROUP OF COMPANIES, INC: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
 

The term "MICE" in the context of travel is an acronym for meetings, incentives, conferences, and exhibitions. The MICE market refers to a niche of group tourism dedicated for planning, booking, and facilitating conferences, seminars, and other events. This industry is garnering high revenues in the travel industry. The MICE industry provides easy and convenient methods for organizing events and helps choose the right destination, which is the basis of a successful event.

Hotel and transportation industries are directly involved in the MICE industry. These industries may benefit from MICE business by offering their services and facilities to the planner and attendees of MICE events. Hotels are the main suppliers of MICE and are the main beneficiaries as well.

According to top CXOs across the world, business travelers who attend MICE events spend over 65% of their money on hotels for rooms and hotel dining while 15% is spent on other restaurants outside the hotel. Around 10% is spent on shopping and another 10% on local transportation.

 

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