Tuesday, February 27, 2024
Allied Market Research unveiled a report with the title – MICE Industry Market by Event type: Global Opportunity Analysis and Industry Forecast, 2023–2032. As per the report, the international MICE industry in 2022 was valued at $598.2 billion and by 2032, is hoped to reach $2,309.4 billion, recording a CAGR of 11.6% from 2023 to 2032.
The progress of the MICE industry is mainly motivated by several factors. The MICE industry has progressively accepted hybrid and virtual event formats. This has permitted for bigger reach and convenience, allowing global participants to take part in exhibitions and conferences with no need for physical presence.
Furthermore, in MICE industry, sustainability has become the main focus. Event organizers and venues have accepted eco-friendly approach to diminish the environmental influence of conferences and meetings.
This comprised making use of sustainable materials, declining waste, and executing energy-efficient technologies. Besides, in MICE, the addition of technology was on the rise. This comprised the usage of event management software, virtual reality, mobile apps, and augmented reality to improve the event experience in general.
In 2022, the meeting segment organized the highest market share, accounting for over three-fifths of MICE market revenue and is estimated to preserve its leadership status all through the forecast period.
Saturday, April 27, 2024
