Meetings Market Size, Share & Industry Analysis, By Type (Formal Meetings and Informal Meetings), By Service Type (Venue Rentals, Accommodation, Transportation, Food & Beverages and Caterings, Event Management Service/Costs, and Others), and Regional Forecast, 2025-2032

The global meetings market size was valued at USD 706.46 billion in 2024. The market is projected to grow from USD 772.96 billion in 2025 to USD 1,557.17 billion by 2032, exhibiting a CAGR of 10.52% during the forecast period (2025-2032). Europe dominated the meetings market with a market share of 52.06% in 2024.

Meetings are typically one-day events conducted in hotel conference rooms or convention centers. They can differ in size from small gatherings of senior executives to bigger events such as Extraordinary General Meetings (EGMs), Annual General Meetings (AGMs), shareholders’ meetings, and All-Hands meetings. Furthermore, the key purpose of these meetings is to bring together industry professionals or project employees to address challenges, set goals, and discuss future plans.

Companies such as ITA Group, Flight Centre Travel Group Limited, Freeman, and Meetings and Incentives Worldwide, Inc. focus on technology integration, sustainability, safety & security, and personalized attendee experiences to facilitate corporate events.

MARKET DYNAMICS

MARKET DRIVERS

Increasing Global Trade and Globalization to Boost Market Growth

Rising globalization and growing global trade play a crucial role in driving the meeting market by enhancing demand for international business travel and facilitating the exchange of resources and ideas. According to UN Tourism, International tourist arrivals, including business visitors, increased by 5% in the first quarter of 2025, with around 300 million tourists traveling globally in Q1 2025, 14 million more than during the same period in 2024. Increasing trade shows, especially in developing countries such as India, China, and Vietnam, owing to reduced trade barriers, technological advancements, reduced taxation, and increased demand, are driving the global meetings market growth. According to the United Nations Conference on Trade and Development (UNCTAD), global trade reached a record high of approximately USD 33 trillion in 2024, USD 1 trillion more than the previous year.

MARKET RESTRAINTS

Increasing Political Instability Globally to Restrain Market Growth

Increasing political instability due to factors such as technology disruption, geopolitical tension, disagreement over international law, trade conflicts, and climate commitments creates international discrepancy that restricts global market growth. Furthermore, the increasing war situation between India & Pakistan, Russia & Ukraine, Israel & Palestine, and Israel & Iran has affected international tourism, including business travel. The conflicts lead to increased trade costs, the imposition of sanctions, and heightened business travel and international meetings. Thus, rising political disruptions are a vital factor restricting the meetings market growth.

MARKET OPPORTUNITIES

Increasing Adoption of Latest Technology by Organizers to Favor Market Expansion

Rising adoption of advanced technology, such as mobile event apps, meeting management software, and data analytics by MICE companies such as ITA Group, Flight Centre Travel Group Limited, and Freeman, drives global market growth. In addition, the adoption of meeting management software helps organizers smooth the planning process by automating tasks such as registrations, ticket sales, and attendee management. These technological advancement helps save time, diminish the risk of mistakes, and ensure seamless event execution. Furthermore, the increasing trend of hybrid business events is further fueling market expansion by enabling wider audience reach while promoting sustainability and flexibility.

MEETINGS MARKET TRENDS

Growing Trend of Social Media Marketing by Business Event Planners Boost Market Growth

Social media marketing offers various benefits for corporate event organizers, such as improved brand visibility, cost-effective promotion, and enhanced engagement. Platforms such as YouTube, LinkedIn, Twitter, Instagram, and Facebook provide access to a global audience, expanding an event’s reach from local to an international level. Furthermore, these platforms provide a target option for organizers to reach specific demographics, behaviors, and interests. Thus, the rising adoption of social media marketing by corporate event planners accelerates market growth.

SEGMENTATION ANALYSIS

By Type

Formal Meeting Segment Dominates Owing to Increasing Number of Companies

Based on type, the market is segmented into formal meetings and informal meetings. The formal meetings segment will dominate the global market during the forecast period. The increasing number of registered companies and the rising trend of conducting meetings in hotel conference rooms and convention centers boost the segment growth. According to the India Brand Equity Foundation (IBEF), the number of registered companies in India increased to over 185,000 companies in 2023-24.

The informal meetings market segmentation is anticipated to record the highest CAGR over the forecast period. These informal meetings are gaining traction due to their ability to enhance collaboration, team member engagement, and idea sharing. Furthermore, these meetings help in improving team member morale by making them feel more connected and valued. 

By Service Type

Accommodation Segment Leads with Companies High Expenses on Hotel Conference Rooms

Based on service type, the market is segmented into venue rentals, accommodation, transportation, food & beverages and caterings, event management service/costs, and others. The accommodation segment holds the highest global meetings market share, owing to an increasing number of national & international business travelers and rising corporate spending on conducting meetings in hotel conference rooms, resorts, and convention centers. Furthermore, a large number of hotels encompasses a wide range of dedicated space for corporate meetings, ranging from small rooms to larger conferences, further accelerating market growth.

The venue rentals segment is projected to record the highest CAGR during the forecast period. The demand for venue rental is significantly growing due to the professional image these locations offer, their customization flexibility, and the availability of necessary advanced technology and amenities such as projectors, screens, and audio-visual equipment.

MEETINGS MARKET REGIONAL OUTLOOK

Geographically, the global market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

North America

North America is anticipated to register the highest CAGR over the forecast period. Rising technology advancement, infrastructure level, government support, growing construction of hotels & resorts, increasing business conferences and exhibitions, and ease in transport facilities are the factors that enhance the region's business meetings and corporate trips.

Increasing number of national and international business meetings and trips and rising corporate spending on business meetings and events in the U.S. and Canada, drive market growth. According to the U.S. Travel Association, in 2023, the U.S.’s spending on meeting and event-related travel was USD 119 billion, which is USD 19 billion more than in 2022.

Europe

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Europe dominates the global market as Germany, France, and the U.K. serve as major hubs for corporate meetings owing to their infrastructure, accessibility, and diverse cultural experiences. Furthermore, the increasing number of hotel constructions in Italy, the U.K., Germany, and Russia, and the growing construction of corporate halls in small and large hotels, drive market growth. According to the Horwath HTL, in Europe, the number of rooms in hotel chains is increasing to an all-time high of 334,562 rooms in 2022, a rise of 5% compared to 2018.

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Asia Pacific

The increasing number of registered companies, along with a growing number of startup ecosystems in India, China, Japan, and Singapore, is a major driver of market growth. According to the Global Business Travel Association (GBTA), in 2022, MICE activities accounted for approximately 42% of the total domestic travel volume and around 45% of business travel expenditure in China.

South America and the Middle East & Africa

South America and the Middle East & Africa are anticipated to grow at a considerable CAGR during the forecast period. The increasing development of technologically advanced hotel facilities and improved transportation facilities in Brazil and Chile has increased the number of business professionals attending MICE events, driving market growth in the region. Furthermore, increasing inbound companies' spending on business meetings and events is further driving market growth.

COMPETITIVE LANDSCAPE

Key Industry Players

Key Players Focusing on Technology Advancement to Strengthen Their Market Presence

Companies operating in the meetings sector are investing in technology advancements such as event planning apps to boost attendee engagement, data analytics tools to measure the success of business conferences, and a hybrid events platform. Increasing competition among key players such as Conference Care, Freeman, One10, LLC, and Access encourages them to leverage their strong brand loyalty while expanding service awareness and market presence to maintain a competitive edge. In addition, global events organized by players are increasing spending on digital platforms to promote their services at national and international levels, driving the global market.

LIST OF KEY MEETINGS COMPANIES PROFILED

• ITA Group (U.S.)
• Flight Centre Travel Group Limited (Australia)
• Freeman (U.S.)
• Meetings and Incentives Worldwide, Inc. (U.S.)
• Conference Care (U.K.)
• One10, LLC (U.S.)
• BCD Meetings & Events (U.S.)
• Creative Group, Inc. (U.S.)
• Access (U.S.)
• CWT Meetings & Events (U.S.)

KEY INDUSTRY DEVELOPMENTS

• December 2023: BCD Travel, a Netherlands-based corporate travel management, event & meeting management, and travel consultancy company, signed a partnership agreement with Ávoris Corporación Empresarial. According to the company, the partnership will help enhance Portugal's corporate meetings & events business.
• August 2023: Freeman, a Dallas, U.S.-based event company, acquired Sparks, a global brand that provides great exhibition and business event experiences to diverse groups of Fortune 1000 brands.
• July 2022: Intent Strategy Group (ISG), a U.S.-based company, launched Simplified+ in partnership with Bizly, an event technology company. The launch would help streamline the overall organization’s meetings and events strategy.
• November 2022: ITA Group, a U.S.-based company, announced a partnership with PRM Marketing Services. The partnership would help the company in expanding its Asia Pacific operations.

REPORT COVERAGE

The market report provides detailed market analysis and focuses on key aspects, such as competition landscape, free sample, companies’ market share, market dynamics, regional analysis, type, and service type. Besides this, it offers insights into various global market trends and highlights key events industry developments such as product launches, partnerships, and others. In addition to the above-mentioned factors, the global market analysis encompasses several other factors that have contributed to the market growth in recent years.

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Report Scope & Segmentation