The global meetings, incentives, conventions, and exhibitions (MICE) market to grow at a CAGR of 6.93% during the period 2017-2021. The latest trend gaining momentum in the market is Personalization of guest data.
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Hotels are coming up with novel ideas and techniques in order to retain their market shares and providing guests with new and innovative services.
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For example, various hotels link their software with the social media profile of the guest so that when they make a booking for a room and everything is set according to their expectations. Further, some hotels are also trying to look for VIP guests online and trying to understand what are their preferences.
In addition, Four Seasons, a chain of luxury hotels, stores information related the customers' floor, dietary, wine, and newspaper preference for their next visit. They also adjust for travelers arriving very late or early so that they do not have to waste time and can directly start with their plans.
This additional attention paid by a hotel to offer their guests personalized services attracts guests to pay another visit to the same hotel.
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According to the meetings, incentives, conventions, and exhibitions market report, one of the major drivers for this market is Digitalization of travel payments. The MICE market is gaining an advantage with the growing digitalization in the majority of sectors globally.
With the digitalization of payments, the booking and payment of travel plans have become easy for companies. Companies can carry out the payments in a more secure manner due to the availability of options such as virtual payment options.
Virtual payment enables the users to charge the stay and other expenses to the company without using a credit card, debit card, or net banking.
Virtual payment cannot be misused as it is generated for individual use and specific purposes such as paying for a hotel room. It also reduces the threat of theft.
Further, the card number can be used a limited number of times; it acts as a unique identifier for a transaction. It is helping the users to limit the payments made from personal accounts.
In addition, it helps in reducing the paperwork for an organization as the expenditure data is automatically collected online.
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Major Key players are provided in global meetings, incentives, conventions, and exhibitions (MICE) market: Capita Travel and Events, CWT Meetings & Events, IBTM Events, IPG, ATPI, BCD Meetings and Events, cievents, Freeman, Grass Roots Meetings and Events, and Questex.
Further, the meetings, incentives, conventions, and exhibitions market (MICE) report states that one of the major factors hindering the growth of this market is Threat from growing terrorism.
Complete report on MICE Market spread across 114 pages, analyzing 10 major companies and providing 71 data exhibits now available at www.reportsnreports.com/reports/12…t-2017-2021.html.
Major Points from Table of Contents:
1: Executive Summary
2: Scope of The Report
3: Research Methodology
5: Market Landscape
6: Market Sizing
7: Five Forces Analysis
8: Market Segmentation By Type
9: Market Segmentation By Product
10: Customer Landscape
11: Regional Landscape
12: Buying Criteria
13: Decision Framework
14: Drivers and Challenges
15: Market Trends
16: Vendor Landscape
17: Vendor Analysis
Few Points from List of Exhibits Covered in Global Meetings, Incentives, Conventions, and Exhibitions (MICE) Market 2021:
Exhibit 01: Parent Market
Exhibit 02: Related Market
Exhibit 03: Global Business Travel Market
Exhibit 04: Market Characteristics
Exhibit 05: Market Segments
Exhibit 06: Market Definition - Inclusions and Exclusions Checklist
Exhibit 07: Market Size 2016
Exhibit 08: Validation Techniques Employed For Market Sizing 2016
Exhibit 09: Global Market Size and Forecast 2016-2021 ($ Bn)
Exhibit 10: Global Year-Over-Year Growth 2017-2021 (%)
Exhibit 11: Five Forces Analysis 2016
Exhibit 12: Five Forces Analysis 2021
Exhibit 13: Bargaining Power of Buyers
Exhibit 14: Bargaining Power of Suppliers
Exhibit 15: Threat of New Entrants
Exhibit 16: Threat of Substitutes
Exhibit 17: Threat of Rivalry
Exhibit 18: Market Condition - Five Forces
Exhibit 19: Type Market Share 2016-2021 (%)
Exhibit 20: Comparison By Type
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