In 2022, the global market for online event tickets was estimated to be worth USD 34.6 billion. By 2031, it is anticipated to have grown at a compound annual growth rate (CAGR) of 7.20% to reach USD 64.68 billion (2023–2031).
Increase in the demand for online ticketing can be accredited to increase the hassle-free experience and the internet accessibility in the process of booking. Processes of event ticketing have experienced a standard shift from the traditional booking of tickets at the venue counters to buying the tickets in advance from the one’s home. In the past years, booking the tickets through tablets and smartphones has become popular on the basis of user-friendly, flexible procedure and the attractive interfaces of mobile developed by various service providers.
Global online event ticketing market trends are increase in the usage of internet and mobile applications for booking the tickets of sports, live events and movie are anticipated to grow over the forecast period. Consumers, especially in Asia Pacific, are willing to offer the charges of handling the marginal Internet for avoiding the long queues are positively impacting the growth of online event ticketing market. Increasing disposable income in the developing regions, is anticipated to participate in the growth of online event ticketing market. Therefore, growth in the spending on leisure and entertainment services are expected to increase the online event ticketing market. Stand-up comedy, sports events, music concerts and movies are considered to be the backbone of the industry of entertainment and is projected to supplement the global online event ticketing market.
Factors that are supporting the growth of online event ticketing market are increase in the disposable income, rise in the usage of tablets and smartphones and increase in the usage of internet. Several developments in technology are changing the process of purchasing the products and services. Various companies are using the Internet for lessening the cost of marketing to stay constant in the market of competition. Consumers are comparing the facilities of after-sale, service features and prices are fueling the online event ticketing market. Fast growth of the internet users all over the world are providing various opportunities for e-marketers and increase the online event ticketing market.
Challenges faced by the online event ticketing are dependence of the vendors of event ticket for safeguarding the popular artist for fascinating the audience and the weakness of the business to data. Growth in the sport events, analyze the behavior of customer using the mobile applications, using the augmented reality to increase the experience of customer and the scope of blockchain technology are some of the trends that are increasing the global online event ticketing market. The challenges confronted by the market are extreme dependence of event ticket vendors to secure popular artist in order to attract a large audience and vulnerability of the business to data breaches are some of the challenges faced by the market.
Global online event ticketing market is segmented into event type, platform and region. On the basis of event type, market is divided into movies, music, sports and other live shows. On considering the platform, market is divided into mobile and desktop.
Geographically, regions involved in the global online event ticketing market are Europe, North America, Asia Pacific and Latin America. North America holds the largest global online event ticketing market share. Asia Pacific is expected to grow rapidly in the coming future.
Online Event Ticketing Market Scope
|Revenue forecast in 2031
|USD 64.68 billion
|CAGR of 7.20 % during 2021-2031
|Type, By Platform, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|AOL Inc.; Atom Tickets LLC; Big Cinemas; Bigtree Entertainment Pvt. Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Kyazoonga; Fandango; Inox Leisure Ltd.; MovieTickets.Com; EasyMovies; Mtime; RazorGator; StubHub; Ticketmaster Entertainment; Ticket, please
Key Segments in the “Global Online Event Ticketing Market” are-
By Event Type, market is segmented into:
- Other live shows
By Platform, market is segmented into:
By Regions market is segmented into:
- North America
- Asia Pacific
- Latin America