United States MICE Market Size, Share, and COVID-19 Impact Analysis, By Event (Meetings, Incentives, Conferences, and Exhibitions), By Booking Mode (Direct Booking, Online Travel Agents and Agencies (OTAs), Travel Management Companies (TMCs), Destination Management Companies (DMCs), and Others), and U.S. MICE Market Insights, Industry Trend, Forecasts to 2033

United States MICE Market Insights Forecasts to 2033 

• The United States MICE Market Size Was Estimated at USD 104.35 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.60% from 2023 to 2033
• The USA MICE Market Size is Expected to Reach USD 197.78 Billion by 2033

The United States MICE Market Size is Expected to reach USD 197.78 billion by 2033, Growing at a CAGR of 6.60% from 2023 to 2033.

Market Overview

The MICE (Meetings, Incentives, Conferences, and Exhibitions) market in the United States is a niche market within the travel and tourism sector that specializes in planning events for commercial purposes. The market is expected to increase as a result of growing globalization, and corporate events are in high demand due to the necessity of networking and teamwork.  The popularity of hybrid event formats, which combine virtual and in-person experiences, increases audience engagement and reach. Additionally, the necessity of in-person interactions in building business relationships, the necessity of continuous learning through industry-specific conferences and seminars, and the strategic value of incentive travel programs in inspiring staff and rewarding achievement are some of the factors propelling the market's expansion. In addition, technological developments in digital marketing, virtual conferencing, and event management are changing the landscape by providing hybrid event alternatives that accommodate a wide range of participant preferences and worldwide connections.

Furthermore, the US government's policies and initiatives support the MICE market, promoting smoother processes, financial incentives, and destination marketing. Public-private partnerships drive infrastructure development, while regulatory frameworks prioritize safety, sustainability, and accessibility. This aligns with industry needs, enhancing the US's position as a top global meeting destination.

Report Coverage

This research report categorizes the market for the U.S. MICE market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the US MICE market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the USA MICE market. 

Driving Factors

The US MICE market has grown due to the growing awareness of MICE travel's benefits for corporate expansion, professional networking, as well as awareness sharing is driving a notable increase in demand for this type of travel throughout the United States. Additionally, the demand for large conference facilities and destination management services has increased as a result of multinational organizations' growing global presence, which has increased the necessity for cross-border meetings and events. In addition, the MICE industry is being greatly aided by the strong expansion of the hospitality and tourism industries. Furthermore, the expansion of the MICE business in the United States is being largely driven by the increasing impact of social media and digital platforms in promoting and amplifying events.

Restraining Factors

There are several obstacles facing the US MICE market, including high operating expenses, shifting economic conditions, and the influence of geopolitical risks are some of the difficulties facing the US MICE industry. Furthermore, the demand for conventional in-person meetings has decreased due to the rise of virtual events and hybrid models, and market expansion is further constrained by sustainability and environmental concerns.

Market Segmentation

The U.S. MICE market share is classified into event and booking mode.

• The meetings segment accounted for the largest market share of 30.17% in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the event, the U.S. MICE market is divided into meetings, incentives, conferences, and exhibitions. Among these, the meetings segment accounted for the largest market share of 30.17% in 2023 and is expected to grow at a significant CAGR during the forecast period. This segment is driven by the increasing demand for businesses to facilitate collaboration, communicate knowledge among teams or stakeholders, and hold strategic conversations. In addition, technological developments have increased the dynamic and interactive nature of meetings, which has improved participant satisfaction and efficiency.

• The direct booking segment accounted for the highest market share of 39.57% in 2023 and is expected to grow at a significant CAGR during the projected timeframe.

Based on the booking mode, the U.S. MICE market is classified into direct booking, online travel agents and agencies (OTAs), travel management companies (TMCs), destination management companies (DMCs), and others. Among these, the direct booking segment accounted for the highest market share of 39.57% in 2023 and is expected to grow at a significant CAGR during the projected timeframe. This segment is driven by its affordability, convenience of use, and enhanced control over event preparation. In addition, direct reservations are frequently preferred by both individuals and businesses to communicate clearly with service providers and negotiate packages that are specifically catered to their needs.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.S. MICE market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• CWT Meetings & Events
• BCD Meetings & Events
• Maritz
• Global Cynergies, LLC
• Capita plc
• AVIAREPS AG
• Conference Care
• ATPI Ltd.
• FCM Meetings & Events
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2024, American Express Global Business Travel (Amex GBT) consented to buy CWT for about USD 570 million, with no debt and no cash. The deal, which is financed by cash and equity issues, is expected to be completed in the second half of 2024, subject to regulatory approvals. It is anticipated that this strategic shift will increase investment capacity, produce USD 155 million in annual synergies in three years, and give CWT consumers more options and value. It is anticipated that earnings will increase after the shutdown.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the U.S. MICE market based on the below-mentioned segments:

U.S. MICE Market, By Event

• Meetings
• Incentives
• Conferences
• Exhibitions

U.S. MICE Market, By Booking Mode

• Direct Booking
• Online Travel Agents and Agencies (OTAs)
• Travel Management Companies (TMCs)
• Destination Management Companies (DMCs)
• Others