The global online event ticketing market size is expected to reach USD 67.99 billion by 2025,
according to a new report by Grand View Research, Inc., exhibiting a 4.8% CAGR
during the forecast period. Growing demand for online ticketing can be
attributed to increased Internet accessibility and overall hassle-free
experience in booking processes.
Event ticketing processes have witnessed a
paradigm shift from traditional booking of tickets at event venue counters to
purchasing tickets in advance from the comfort of one’s home. Over the years,
booking of tickets through smartphones and tablets has gained immense
popularity on account of the perceived ease and flexibility of the procedure
and user-friendly, attractive mobile interfaces developed by service providers.
Major ticketing vendors are focusing on
providing mobile applications and making websites customer-friendly to
facilitate quick and easy ticketing transactions. Such applications enable
customers to access all types of information about the event, ticket pricing,
seating layouts, and other relevant information.
On account of intensifying competition in
the online ticketing industry, service providers are vying to secure long-term
contracts with theatres, production houses, sports authorities, and local event
organizers in order to ensure sustainability. Promotion of movies, sports
tournaments, music concerts, and stand-up comedy shows on the websites of
service providers forms a sizeable portion of their revenue.
Uncertainties associated with online
booking of tickets are high as demand fluctuates based on the popularity of the
event. In case of movies, the stage of lifecycle a movie has reached plays a
pivotal role in demand for online booking. To elaborate, 2-3 weeks after a
film’s release, patrons prefer purchasing tickets at the counter instead of
paying additional surcharge fees since movie halls are comparatively less
crowded during that time.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/online-event-ticketing-market
https://www.grandviewresearch.com/industry-analysis/online-event-ticketing-market
Further key findings from the report suggest:
· Mobile applications are expected to surpass
the traditional Internet platform for online movie booking services by 2019,
which can be attributed to increased penetration of smartphones and improved
connectivity through affordable 3G and 4G LTE Internet packs
· Asia Pacific is expected to witness
significant growth over the forecast period due to increasing penetration of
Internet and smart devices
· Increased disposable income is resulting in
a rise in discretionary spending on entertainment and leisure. Moreover, movies
account for a major part of the entertainment sector, which may catapult demand
over the coming years
· Increasing movie releases worldwide is also
expected to drive online movie booking services
· Venue owners and concert organizers across
the globe are selling VIP packages, including premium food and beverages,
backstage access, preferred seats, and VIP restrooms, which is expected to
increase market growth.
Grand View Research has segmented the
global online event ticketing market on the basis of platform, event type, and
region:
Online Event Ticketing Platform Outlook
(USD Million, 2014 - 2025)
·
Desktop
·
Mobile
Online Event Ticketing Event Type Outlook
(USD Million, 2014 - 2025)
·
Sports
·
Music & Other Live Shows
·
Movies
Online Event Ticketing Regional Outlook
(USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
Middle East & Africa
·
Latin America
o
Mexico
o
Brazil
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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