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/

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