The global MICE products market was valued at USD 9.7 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. MICE products refer to a range of electronic and non-electronic products used in meetings, incentives, conferences, and exhibitions (MICE). The growing demand for MICE products is driven by the increasing focus on corporate events and exhibitions as well as the demand for cost-effective solutions in the market. The growing trend of video conferencing and virtual meetings is also increasing the demand for MICE products.

The increasing adoption of digital technology is expected to drive the demand for MICE products. For example, in June 2021, Canon launched its new range of MICE products, combining digital technology with its proprietary lenses to deliver a truly immersive experience. The products include a range of interactive projectors, digital signage, interactive whiteboards, and wireless microphones. In addition, the rising popularity of cloud-based software solutions for MICE products is expected to drive the market over the forecast period.

The rising demand for MICE products from the corporate sector is propelling the growth of the market. Companies are increasingly hosting events such as meetings, conferences, and exhibitions to promote their products and services. To meet the growing demand for MICE products, companies are introducing new products to the market. For example, in April 2021, Samsung launched its new range of interactive displays, offering a range of features such as built-in Wi-Fi, Bluetooth, and multiple screen display.

In addition, the increasing number of business travelers is driving the demand for MICE products. Business travelers are increasingly looking for technologies that can make their travel easier and more convenient. For example, in June 2021, Microsoft announced the launch of its new business travel solution, which includes a range of features such as real-time flight tracking, ticket booking, and travel expense management.

Moreover, the growing trend of corporate social responsibility (CSR) initiatives is expected to drive the demand for MICE products. Companies are increasingly focusing on CSR initiatives to promote their products and services. For example, in June 2021, Canon launched a new CSR initiative to promote its new MICE products, which includes a range of activities such as educational events and seminars. This is expected to increase the demand for MICE products in the future.

The desktops segment dominated the market in terms of revenue with a share of around 45.2% in 2021. Growing demand owing to the increasing stability, reliability, and improved performance offered by desktops are some the major factors driving the growth of the global market.

Moreover, increasing need among organizations to organize virtual conferences and journeys, rising trend of work from home, and increasing demand for cost-effective storage solutions are fuelling the market growth. According to Gartner, the computer and peripherals worldwide market revenue is expected to grow from 108 billion U.S. dollars in 2019 to 126 billion U.S. dollars by 2023.

Furthermore, the surging penetration of internet users, increasing consumption of digital media, booming gaming industry, are a few other factors driving the demand of desktop computers. Increase in development and usage of virtual casinos and poker platforms, better audio and video adjustments are some of the advantages associated with desktop computers are the few other factors driving the growth of the market.

The supermarkets and hypermarkets segment accounted for the major share of over 40.3% in 2022. Easy accessibility and availability of the computer accessories such as a mouse, keyboard, and other gaming devices in supermarkets & hypermarkets cater to the convenience of the customers to purchase the desired product for their computers in one go. The manufacturers and distributors are targeting these stores to build strong distribution channels for their products. For instance, in May 2020, Logitech Inc. opened Logitech Gaming Store with the partnership of India’s leading retail chains, Big Bazaar and HyperCity. The store offers products for casual and professional gamers, including top-notch peripherals and software, with the help of which classic gaming could become more interesting and engaging.

The online segment is expected to be the fastest-growing segment with a CAGR of 12.7% over the forecast period. The surge in internet penetration, e-commerce activities has further enhanced the growth of the market. For instance, in June 2020, Amazon India announced the launch of two new programs, Amazon Computers & Peripherals Store, that offers a wide range of competitively priced products. This store exports PC-related products, networking products, printer & scanner, and accessories such as Keyboards, mouse, and external hard drives. Thus, the increase in the number of online stores is likely to propel the market growth.

The optical segment accounted for the largest revenue share of 41.5% in 2022 and the trend is expected to gain further traction over the forecast period. This is mainly attributed to an increasing number of gamers and need for improved gaming experience, as well as improved gaming devices manufactured by major players such as Microsoft and Logitech. Moreover, the optical sensors are easy to use and they offer comfortable gaming experience, which is augmenting the segment growth.

The laser segment is anticipated to register the highest CAGR of 5.2% during the forecast period. The growing popularity of MMORPGs (Massively Multiplayer Online Role-Playing Games) across the globe is fostering the growth of the mice laser market. Laser gaming mice offer high precision and accuracy, which is perfect for fast paced games like MMORPGs. In addition, laser mice are best suited for high resolution 3D gaming and media applications. Major market players include Microsoft, Logitech, and SteelSeries among others.

Asia Pacific dominated the market, accounting for a revenue share of over 40.5% in 2022. The presence of leading manufacturers such as Wacom and Logitech in the region has led to a higher adoption of MICE products. The growing investment in technological advancements such as virtual and augmented reality, in countries such as Japan, South Korea, and China, are driving the demand for MICE products in the region.

North America is expected to witness the second-fastest growth in the coming years. Increasing usage of MICE products in advanced gaming and corporate sectors, implementation of ergonomic solutions in the offices, adoption of high-end gaming MICE by tech-savvy people, and implementation of advanced features to increase device efficiency are driving growth in the region. Furthermore, presence of prominent market players such as Microsoft and Logitech in the U.S. market is expected to drive product innovations and boost their sales over the forecast period.

In this part of the MICE products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your MICE products business. Here we will usually create projections for a 3-year period.

Revenue Assumptions

The main source of revenues for the MICE product business comes from sales of software applications, hardware devices customized for conference rooms, hardware for web casting, audio conferencing and other related products. Other potential sources of revenues include printing services, web hosting, technical support and event management services.

Projecting Expenses

In this section, all the regular expenses related to keeping the MICE products business running will be described. These expenses include staff wages, raw materials, research and development, travel, insurance and advertisement. In addition, expenses related to renting office space, applying for licenses, purchasing equipment and other administrative costs should also be included.

Some of the key companies operating in the MICE products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Logitech launched the G502 Hero gaming mouse, which features the Hero 25K gaming sensor and advanced customisation.

– In August 2022, Razer launched the Viper Ultimate wireless gaming mouse, which features 20K DPI optical sensor and features HyperSpeed wireless technology.

– In October 2022, Corsair launched the Ironclaw RGB FPS/MOBA gaming mouse, which features an 18,000 DPI optical sensor and Omron switches.

Some of the prominent players in the MICE products market include:

– Logitech International SA
– Razer Inc.
– Corsair Components, Inc.
– HP Inc.
– Dell Technologies Inc.
– Microsoft Corporation
– Apple Inc.
– SteelSeries
– Cooler Master Technology Inc.
– HyperX

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global MICE products market based on product type, application, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Audio-visual Equipment
– Conference Room Equipment
– Furniture
– IT Infrastructure
– Others

2. Application Outlook (Revenue, USD Million, 2017 – 2030)

– Businesses
– Education
– Government
– Healthcare
– Others

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Direct
– Indirect

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Opportunities for MICE Product Manufacturers?
[A]: MICE product manufacturers have the opportunity to focus on product innovation and customization to meet the changing needs of customers. Innovation in products such as automated sensors, RFID tags, and interactive displays, as well as cost optimization, help capitalize on the opportunities in the global MICE products market.

[Q]: What are the Key Drivers for MICE Products?
[A]: MICE products are driven by increasing demand for interactive and immersive experiences in conferences, exhibitions, and business meetings. Advancements in technology, such as augmented reality and virtual reality, have created new opportunities for MICE product manufacturers.

[Q]: Who are the Leading Players in the MICE Products Market?
[A]: The leading players in the global MICE products market are Microsoft Corporation, Adobe Systems Incorporated, Cisco Systems, Inc., Dell Technologies, Inc., Hewlett Packard Enterprise Development LP, and IBM Corporation.

[Q]: What is the Market Outlook?
[A]: The global MICE products market is expected to reach a value of US$25.3 billion by 2026, growing at a CAGR of 10.7% during the forecast period (2020–2026).

[Q]: What is the Regional Breakdown of the MICE Products Market?
[A]: North America accounts for the largest share of the global MICE products market, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to be the fastest-growing region during the forecast period, mainly due to the increasing demand for MICE products from countries such as China, India, and Japan.