The Israel meetings, incentives, conferences and exhibitions (MICE) industry provides a comprehensive platform for businesses and organizations to network, build brand awareness and launch new products or services. MICE event organizers in Israel offer customized services and logistical support to cater to large-scale local and international events. However, the ongoing COVID-19 pandemic disrupted in-person MICE activities, prompting stakeholders to embrace hybrid and omni-channel engagement strategies.
The Global Israel Meetings, Incentives, Conferences And Exhibitions Market Is Estimated To Be Valued At US$ 2.05 Bn In 2024 And Is Expected To Exhibit A CAGR Of 6.8% Over The Forecast Period 2024 To 2031
Key Takeaways
Key players operating in the Israel MICE market are Stryker Corporation, SATELEC (Actongroup), Surgiform Innovative Surgical Products, Allergan (Abbvie) Luminera, Implantech, Koken, ANTHONY PRODUCTS INC., NOUVAG, Sihuan Pharmaceutical Holdings Group Ltd., and Other prominent players. The Israel MICE industry players are integrating virtual and hybrid platforms to sustain business opportunities amid restrictions on large gatherings. For example, event organizers are livestreaming keynote addresses and product demonstrations and offering interactive networking features through virtual booths.
The imposition of social distancing norms and travel restrictions during the pandemic disrupted in-person Israel Meetings, Incentives, Conferences And Exhibitions Market Growth events, boosting the for hybrid and online engagement solutions. Virtual conferences and digital trade shows helped businesses maintain visibility and buyer-seller interactions. However, as vaccination rates increase, hybrid events combining online streaming with limited in-person attendance are gaining traction. The hybrid model allows broader participation while addressing safety concerns through measures like proof of COVID vaccination.
The Israel MICE industry is strategically expanding to global markets by forming international partnerships and investing in advanced technology infrastructure. Cross-border collaborations help operators leverage each other’s geographic strengths to host large-scale hybrid or omnichannel events. Customized virtual and blended solutions also enable Israel’s MICE stakeholders to tap into new foreign markets and industries despite pandemic-related challenges.
Market Key Trends
The Israel Israel Meetings, Incentives, Conferences and Exhibitions Market Challenges And Opportunities is increasingly embracing hybrid and omni-channel engagement strategies as a key trend to sustain business continuity. Hybrid events blend in-person and virtual components, providing attendees with multiple participation options. Omnichannel solutions integrate platforms like AR/VR with conferencing technologies for richer immersive experiences. This flexibility addresses safety concerns and boosts accessibility. As digital transformation of MICE gathers pace in Israel, hybrid and personalized omni-channel offerings will play a strategic role in the industry’s pandemic recovery and future growth.
Porter’s Analysis
Threat of new entrants: The Israel Meetings, Incentives, Conferences and Exhibitions Market has a high barrier for entry due to high initial investment required to setup the infrastructure for hosting events and strong branding of existing players.
Bargaining power of buyers: Buyers in the form meeting planners and event organizers have moderate bargaining power due to availability of substitutes and different service providers however existing relationships keep bargaining power in check.
Bargaining power of suppliers: Suppliers providing support services like catering, accommodation etc have low bargaining power due to fragmented nature and dependence on event organizers for business.
Threat of new substitutes: Threat of substitutes is low as virtual meetings have not been able to replace in-person networking and experience of live events however they add to competition.
Competitive rivalry: Intense due to strong established brands, networking effects and customer loyalty.
The Central region leads in terms of value share in the Israel Meetings, Incentives, Conferences and Exhibitions Market owing to the presence of cities like Jerusalem and Tel Aviv which attract large domestic as well as international events. The Southern region has emerged as the fastest growing region over the forecast period supported by growing tourism and business infrastructure in cities like Eilat and Beersheba.
Geographical Regions
The Central region leads in terms of value share in the Israel Meetings, Incentives, Conferences and Exhibitions Market owing to the presence of cities like Jerusalem and Tel Aviv which attract large domestic as well as international events. The Southern region has emerged as the fastest growing region over the forecast period supported by growing tourism and business infrastructure in cities like Eilat and Beersheba.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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