This is a bit more complicated to clarify. Where R1 is correct he's likewise not in that many small stage/parlor workers can still carry their act in their pockets or at most, a briefcase (ask Paul Daniel, a full 2 hour show in a single briefcase on the Vegas strip and he killed!) Parlor Magic originally included all forms of dexterity type work i.e. card, ball, thimble, cigarette and even candle manipulations as well as bits with small livestock such as bird & bunny productions. . . larger bits that would be proper to a larger living room of say, group of 30-60 guests. Parlor is likewise the environment most common (and conducive) to Mentalism even though many of us these days envision the Mind Reader and a grand theatrical setting such as it was 60+ years ago. But the original environment was the "Music Parlor" of wealthy citizens in that the average person couldn't afford such trivialities unless it was part of a side show at the county fair.
"Stage" Magic has become a new-ish category that's more akin to the old Club Acts that had larger scaled pieces like a Head Chopper, Walking thru a Ribbon or even a small escape such as a Slick Post or Pillory Stock. Some might have featured a simple suspension but rarely did anything bigger than a Sub Trunk. Most such acts were the same thing as the Parlor act however, with a couple of extra features tossed in for sake of time and press.
"Grand Stage" is where we find the ILLUSIONISTS (as in the proper association to said label) -- the guys (and a few gals) that present things like the Sawing, Asrah, etc. While they will use "hand prop" type effects such as you find in the Parlor and "Illusionettes" like the Stage/Cabaret performer they are best known from the grand scaled impossibilities and massive theatrical revue programs 90-120 minutes in running time (sometimes more). This is where you find your Blackstone & Thurston legends and the modern persona of Copperfield, Lance Burton and the uncanny Sigfried & Roy (their kind of show will never be known again, it was a true wonder).
The other way of looking at it is that the Close-up worker, parlor & cabaret performers can known 40 year long careers and not invest as much cash in their entire repertoire as an Illusionist will into a single feature. . . hell, I can't even afford to build, let alone buy some of the effects I helped develop over the years . . . not at $15,000.00 and more for one piece.
IMPORTANT NOTE: While my head was filled with dreams when I was younger and no one could talk me out of doing the big stuff I have learned the hard way that one is far more wise to stick with the smaller props and lower profiled programs. You will keep more of the cash in your pocket and if you really are good, still be able to charge premium fees. But too, the big box shows are simply harder to book due to costs and you end up being more akin to a farmer; all your money tied up on equipment and storage with less and less going into your own pocket. So be very cautious when considering this option.