NEW YORK, Jan. 31, 2022 /PRNewswire/ — 40% of the market’s growth will originate from APAC for the meetings, incentives, conventions, and exhibitions market. China and Japan are the key markets for meetings, incentives, conventions, and exhibitions in the region. However, the market growth rate in APAC will be faster than the growth of the market in other regions. The meetings, incentives, conventions, and exhibitions market estimates a market value of USD 38.45 billion from 2019 to 2024. In addition, the market is to progress at a CAGR of 2% as per the latest market forecast report by Technavio.
For more insights on the market share of various regions- Download the Free Sample Report
Meetings, Incentives, Conferences and Exhibitions Market: Digitalization of travel payments to drive growth
The growing digitalization in the majority of sectors globally is benefiting the global MICE market. Also, business expansions in multiple locations is boosting the number of travelers for domestic and international business trips. Moreover, the digitalization of payments has also made the booking and payment of travel plans convenient for companies. In addition, the virtual payment options have given companies the provision to carry out payments in a more secure manner as it cannot be misused reducing the threat of theft. Thus, the digital payments options is estimated to drive the MICE market during the forecast period.
To know more about drivers, trends & challenges – Request a Free Sample Report
Meetings, Incentives, Conferences and Exhibitions Market: Segmentation Analysis & Revenue Generating Segment
This market research report segments the meetings, incentives, conferences and exhibitions market by Type (meeting, incentive, exhibition, and convention), Service (hospitality, transportation, retail and entertainment) and Geography (North America, Europe, APAC, South America, and MEA).
The MICE market share growth by the meeting segment will be significant for revenue generation. As meetings bring people together in one place to share information and discuss and solve concerns if any. In addition, the increase in the expansion of companies resulting in creating more job opportunities is driving the growth of the meeting segment. Moreover, there is also a requirement of rigorous training and strategic planning by companies calling people for frequent meetings and corporate get-togethers resulting in positively impacting the MICE market growth during the forecast period.
Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the MICE market size and actionable market insights on each segment which will assist in creating efficient business plans & strategies.
To gain further insights on the market contribution of various segments – Request the Free Sample Report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports:
Shipbroking Market –The shipbroking market share is expected to increase by USD 41.08 million from 2020 to 2025, but the market’s growth momentum will decelerate at a CAGR of 0.54%. Download a free sample now!
Web-to-Print (W2P) Market –The web-to-print market share is expected to increase by USD 528.71 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.99%. Download a free sample now!
|
MICE Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2019 |
|
Forecast period |
2020-2024 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 2% |
|
Market growth 2020-2024 |
$ 38.45 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
-55.91 |
|
Regional analysis |
North America, Europe, APAC, MEA, and South America |
|
Performing market contribution |
APAC at 40% |
|
Key consumer countries |
US, China, Germany, UK, Japan, and Canada |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
ATPI Ltd., BCD Group, Capita Travel and Events, CWT Global BV, Flight Centre Travel Group Ltd., IBTM Events, Maritz Holdings Inc., Questex, The Freeman Co., and The Interpublic Group of Companies Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/meetings-incentives-conferences-and-exhibitions-market—40-of-growth-to-originate-from-apacdigitalization-of-travel-payments-to-boost-market-17000-technavio-reports-301470674.html
SOURCE Technavio
Source link
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
