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MICE Industry in China

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    MICE Industry in China Suppliers

    MICE Industry in China Supplier

    Find the right-fit mice industry in china supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    ACCENTURE PUBLIC LIMITED COMPANY
    Location
    Jackson, Mississipi
    Duns number
    3862211
    D&B SER Rating
    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile
    Company and Sector Performance
    58
    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    90
    Social
    42
    Governance
    67
    6 Domains Performance (/100)
    Business behaviour
    58
    Human rights
    55
    Community Environment
    54
    Corporate governance
    72
    Human resources
    29
    Security Scorecard
    97
    Threat indicators
    A
    95
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    100
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    A
    98
    Application Security
    Detecting common website application vulnerbilities
    A
    94
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    99
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked
    Industry Comparison
    accenture.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    9
    Human Rights Issues
    0
    Production Supply Chain Issues
    3
    Environmental Non Compliance Flags
    12
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    5
    Fraud Issues
    2
    Labor Health Safety Flags
    6
    Regulatory Issues
    3
    Workforce Disputes
    1
    Sanctions
    0
    esg energy transition
    80
    Discrimination Workforce Rights Issues
    5
    esg controversies critical severity
    No

    MICE Industry in China market report transcript

    Regional Market Outlook on MICE Industry

    In 2016, despite slow recovery of the world economy, there are still many unfavorable factors that make the global economy uncertain. Against this background, China has maintained its steady social and economic development. The growth in the Chinese MICE market is sustained by economic growth in the region. The Chinese MICE market is expected to reach 800 Million by 2020.

    Market Overview

    • Corporate Spending: Top MICE spend in China is dominated by Manufacturing followed by Utilities, and Agriculture and Forestry
    • Growth: The China MICE market is expected to grow at 10-15 percent in 2017
    • Forecast: China's MICE market is expected to reach USD 800M by 2020

    Growth Drivers

    • Investment: The Chinese government has devised policies to develop infrastructure to support MICE industry
    • Initiative: The government vigorously promoted business development overseas, with favorable policies
    • Technology: The use of technology in every phase of an event production

    Constraints

    • Corruption: China is high in corruption and fraudulent activities
    • Regulatory landscape: Industries are highly regulated and scrutinized, like pharmaceutical and financial companies

    MICE Technology Trends

    AI Automation

    AI automation in meetings and events has gained significant importance in China despite a huge human workforce. AI automation when combined with other technologies such as AR, VR and event networking can enhance attendee engagement to a great extent.

    Big Data on the Rise

    Event planners have started doing crowd shaping in their events using data analysis and interpretations. The usage of big data in terms of understanding attendee demographics is increasing in the country.

    Increase in use of Mobile Apps

    Mobile Apps are being used beyond paper replacement and logistics planning. The array of sensors in recent smart phones when combined with apps can provide information on attendees such as likes, dislikes, average time spent.

    Face recognition and Chatbots

    Event planners have started using face recognition tools and chatbots for easy check in and assistance of attendees. Attendees can also schedule meetings, attend polls through chatbots. This will further enhance the attendee engagement in an event.

    Porter's Five Force on Chinese MICE market

    As M&E is a fragmented market with a large number of suppliers providing similar services, rivalry among suppliers is intense and entry into the market is relatively easy. The bargaining power of suppliers is moderate, as differentiation in services is less, whereas that of buyers is high, as supplier switching cost is low.

    Supplier Power

    • The bargaining power of the supplier ranges from low to medium, due to the vast number of suppliers in the market
    • The differentiation of services between suppliers is very difficult to measure, as it is qualitative; hence, the suppliers' bargaining power is less

    Barriers to New Entrants

    • M&E management requires a basic understanding of event planning and a network of suppliers
    • It has low start-up costs; hence, it is very easy to enter the market
    • However, sub-categories like event production and exhibit management require creative skills, and hence, the barriers to entry can be higher

    Intensity of Rivalry

    • The M&E market is highly fragmented, with plenty of downstream suppliers
    • Each sub-category has many suppliers, mainly local players
    • The top 10–12 players are roughly of the same size
    • Due to the presence of so many suppliers, this industry is highly competitive
    • This competitiveness enables low supplier switching costs.

    Threat of Substitutes

    • The growth of virtual meetings pose a threat to physical meetings and events. It is gaining popularity because it is cost effective and saves travel time

    Buyer Power

    • Due to intense competition between the suppliers, the supplier switching costs are low. Hence, the bargaining power of the buyer is high
    • Data/ technology migration from one supplier to another may be a cause for concern, but the buyer can make the migration formalities part of the contract to ensure a smooth transition