According to the report published by Allied Market Research, the global outbound MICE market generated $225.9billion in 2021, and is projected to reach $1272.2 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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The report offers detailed segmentation of the global outbound MICEmarket based on event type and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on event type, the meetingssegment held the largest market share in 2021, accounting formore than three-fifths of the global outbound MICE market share, and is expected to maintain its leadership status during the forecast period. However, the incentivessegment, on the other hand, is expected to record the fastest CAGR of 16.1% during the forecast period.
Based on region, the market across European continentheld the largest market share in 2021, holding nearly two-fifthsof the global outbound MICEmarket share. Moreover, Europe is set to dominate the global outbound MICEmarket share in 2031.Nonetheless, the Asia-Pacificoutbound MICE market is expected to register the fastest CAGR of 15.5% during the forecast period.
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The key players analyzed in the global outbound MICEmarket report include 360 Destination Group, Access Destination Services, ATPI LTD., BCD GROUP (BCD MEETINGS & EVENTS), BI Worldwide, Carlson Wagonlit Travel (CWT Meetings & Events), CIEVENTS, Conference Care Ltd., Creative Group, Inc., CSI DMC, IBTM, ITA Group, MARITZ, Meetings & Incentives Worldwide, Inc., ONE10, LLC, and The Freeman Company, and The Interpublic Group of Companies, Inc.
The report analyzes these key players in the global outbound MICEmarket. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
Key findings of the study
- The global outbound MICE market size was valued at $225.9 billion in 2021 and is estimated to reach $1,272.2 billion by 2031, registering a CAGR of 13.3% from 2022 to 2031.
- On the basis of event type, the exhibitions segment acquired $17.7 billion in 2021, exhibiting 7.8% of the global market share.
- On the basis of region, China was the most prominent market in Asia-Pacific in 2021, and is projected to reach $138.1 billion by 2031, growing at a CAGR of 19.0% during the forecast period.
