U.S. Meetings, Incentives, Conferences and Exhibitions (MICE) Market Growth Accelerated by Increased Demand from Corporate and Association Organizers

 
U.S. Meetings, Incentives, Conferences and Exhibitions Market

The meetings, incentives, conferences and exhibitions or MICE industry refers to organizing and holding various professional and social events in order to promote local business and tourism. Meetings facilitate knowledge sharing and networking among professionals working in various industries. Incentives help businesses to reward and motivate their employees and channel partners. Conferences enable experts and researchers to present their findings and ideas on a common platform. Exhibitions provide networking opportunities and help promote goods and services to potential buyers. The U.S. MICE market facilitates business interactions that strengthen the economy.

The global U.S. MICE Market is estimated to be valued at US$110 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increased demand from corporate and association organizers: The key trend driving growth in the U.S. MICE market is rising demand from corporate and association event organizers. As businesses focus on strengthening client and partner relationships through networking events, there is growing demand for conferences, exhibitions, and incentive trips from various industries such as IT, healthcare, manufacturing, and education. Association meetings help subject matter experts from different organizations exchange ideas and foster collaborations. This has accelerated the growth of the MICE market in the U.S. With continued investments in networking opportunities, this trend is expected to favor market expansion over the forecast period.


Segment Analysis
The U.S. meetings, incentives, conferences and exhibitions (MICE) market is segmented into meetings, incentives, conferences and exhibitions. Among these segments, the meetings segment currently accounts for the largest share of the overall market. The meetings segment includes corporate events, association meetings, training programs, and others. The ongoing digital transformation initiatives undertaken by various companies in the U.S. has led to an increase in virtual and hybrid meetings being organized which is contributing significantly to the growth of meetings segment.

Key Takeaways

The U.S. Meetings, Incentives, Conferences And Exhibitions (MICE) Market Share is expected to witness high growth. The global U.S. MICE Market is estimated to be valued at US$110 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.

The Western region accounts for the largest share in the U.S. MICE market currently due to presence of prominent MICE destinations such as California, Nevada and Arizona in this region.The Western region is also expected to continue its dominance during the forecast period supported by continuous investments in the development of infrastructure to support large scale events in this region.

Key players operating in the U.S. Meetings, Incentives, Conferences and Exhibitions Market are American Express Global Business Travel, BCD Group, CWT, GBT, Carlson Wagonlit Travel and Hogg Robinson Group. These key players are focusing on online bookings and virtual and hybrid events to stay ahead of competition.

For more insights, Read- https://www.insightprobing.com/u-s-meetings-incentives-conferences-and-exhibitions-market/

Get more insights on this topic: https://techaxen.com/rise-of-surgical-robots-in-healthcare-industry/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The Bladder Liners Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Urinary Incontinence

Image
  Bladder Liners Market Market Overview: Benzodiazepines are a class of psychoactive drugs belonging to the benzodiazepine family. These drugs are prescribed for various medical conditions such as anxiety disorders, panic disorders, insomnia, seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid. Some common examples of benzodiazepines include alprazolam, clonazepam, diazepam, and lorazepam. These drugs work by increasing the action of gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the central nervous system. Due to their calming properties, they are widely used to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms, and alcohol withdrawal. Market Dynamics: The Benzodiazepine Drugs Market is primarily driven by the rising prevalence of anxiety disorders worldwide. As per Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting nearly 40 million ...
Read more

Commercial Drones Market is Poised to Register Notable Growth Owing to Expanding Usage Across Varied Industries

Image
  Commercial Drones Market  The commercial drones market has been gaining significant traction over the recent years primarily driven by expanding deployment across various industries including agriculture, infrastructure, disaster management, and transportation among others. Commercial drones offer several advantages including cost-effectiveness, flexibility, precision and real-time monitoring capabilities. Meanwhile, growing popularity of drone delivery services across e-commerce as well as healthcare sectors has further catalyzed the market growth. Drones help in reducing operational costs while effectively meeting the target delivery timelines. Additionally, continuous technological advancements have resulted in miniaturization and development of drones with increased payload capacity and battery life. The Global commercial drones market is estimated to be valued at US$ 22.29 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031. Key T...
Read more