Online Event Ticketing Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Players and Business Opportunities Till 2033


Online Event Ticketing Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Players and Business Opportunities Till 2033: SPER Market Research

 Published: Apr-2024
 Author: SPER Analyst

Online Event Ticketing Market is projected to be worth 107.7 billion by 2033 and is anticipated to surge at a CAGR of 6.53%.

Online ticketing encompasses the process of purchasing event tickets through online channels, including interactive voice response (IVR), kiosks, transaction pages, private labeled web pages, and any other online technology. It also includes all features, functionalities, marketing, and advertising related to these sales and/or services offered by online channels. Furthermore, internet event booking platforms display all relevant information about an event, including ticket prices, seating arrangements, and event locations. It facilitated a more efficient workflow by supporting management, sales, marketing, and support teams in initiating the tasks required for a flawless customer experience. The online ticketing system offers shops features like real-time analytics for analyzing sales and statistics.

Global Online Event Ticketing Market Driving Factors and Challenges

Significant factors driving the growth of the online event ticketing market include rising use of mobile phone apps and high internet penetration for booking movies and live events online. The online event ticketing market is expanding due to technological developments in ticketing software. The ubiquitous use of the Internet, as well as the growing reliance on smart devices for ticket reservations, are significant drivers of the online event ticketing market. Furthermore, the growth of user-centric apps is projected to enhance the market during the forecast period. The provision of appealing deals and promotions through online ticketing platforms is projected to generate profitable chances for the Online Event Ticketing industry. These factors, taken together, highlight increased awareness and purchasing power, driving demand for online event ticketing and promoting market expansion during the projection period.

Developing countries frequently have infrastructure gaps, limited access to technology and resources, and a wider digital divide. This means that, while the population expands, the use of online ticketing systems does not. This is owing to a lack of access to the tools and services required for using digital ticketing platforms, such as the internet, mobile phones, and digital payment systems. Furthermore, access to digital payment systems has slowed the expansion of the online ticketing business in several regions. This is due to the absence of dependable and secure payment channels, as well as a lack of financial knowledge. Furthermore, the absence of access to credit and debit cards makes it impossible for people to buy tickets online. This has posed a significant impediment to the growth of the online ticketing sector in certain region

Impact of COVID-19 on Global Online Event Ticketing Market
Many events were canceled as a result of the COVID-19 epidemic, reducing demand for online event tickets significantly. Online ticketing businesses reported a drop in revenue as a result of gathering limits and social distancing strategies. Many events were either postponed indefinitely or turned into virtual versions. Uncertainty and customer unwillingness to attend events also contributed to the fall in online event ticket sales.

Online Event Ticketing Market Key Players:
Along with revenue analysis, market segments, and competitive landscape data, this market study thoroughly examines a number of major market players, including Eventbrite, Bigtree Entertainment Pvt Ltd, SeatGeek, Zoonga, Ticketmaster Entertainment LLC (Live Nation Entertainment Inc), AXS, Viagogo Entertainment Inc, TickPick LLC, Ticketek Pty Ltd (TEG Pty Limited), Inc, Carnival Cinemas, Cinemark Holdings, Inc, Cineplex Inc, PVR LTD, EasyMovies, and VOX Cinemas.

Global Online Event Ticketing Market Segmentation:

By Platform Type: Based on the Platform Type, Global Online Event Ticketing Market is segmented as; Desktop, Mobile.

By Application: Based on the Application, Global Online Event Ticketing Market is segmented as; Movies, Sports, Music Events, Others.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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