by The U.S. Meetings, Incentives, Conferences and Exhibitions Market is estimated to be valued at US$ 125.76 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Meetings, incentives, conferences and exhibitions (MICE) refer to a type of tourism focused on attracting business visitors for trade shows, conferences and similar events. MICE market helps in generating thousands of direct and indirect jobs across industries ranging from transportation, entertainment, hospitality and other associated sectors.
Market key trends:
One of the key trends in the U.S. MICE market is the growing preference for hybrid events. Hybrid events allow both physical and virtual participation, thereby increasing accessibility and reducing costs. They provide flexibility to attendees and organizers. With advancements in technology, hybrid events are becoming more seamless and interactive. Additionally, sustainability is gaining increased attention in the MICE industry. Organizers are focusing on reducing the environmental impact of events through measures like choosing venues closer to most attendees, limiting print materials and opting for digital alternatives.
Segment Analysis
The U.S. meetings, incentives, conferences and exhibitions (MICE) market is segmented based on service type into meeting & events, exhibition & events, and other MICE activities. Among these, the meeting & events segment dominates the market due to the growing adoption of virtual conference platforms amid COVID-19. Conferences help businesses network and generate new leads, which is driving the growth of this sub-segment.
Key Takeaways
U.S. Meetings, Incentives, Conferences And Exhibitions (MICE) Market Demand is expected to witness high growth, exhibiting a CAGR of 4.8% over the forecast period, due to increasing digitalization and virtual conferences.
Regional analysis: The Western region dominates the U.S. MICE market supported by the presence of conference destinations such as California, Nevada and Arizona. The high spending power of consumers in this region propels the market growth.
Key players: Key players operating in the U.S. MICE market are One10 LLC, 360 Destination Group, CWT Meetings & Events, ITA Group, ConferenceDirect, Experient, Inc., Eventbrite, Cvent Inc, Reed Exhibitions, Informa plc, Emerald Expositions, BCD Meetings and Events, ATPI Ltd., Interpublic Group, Ruckus Marketing, LLC, Hubb, Freeman, Maritz, BI Worldwide, Conference Care Ltd. One10 LLC offers a full range of event management and production solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
