Market Overview:
The Global Online Event Ticketing Market size is expected to grow from USD 57.01 billion in 2022 to USD 82.95 billion by 2030, at a CAGR of 4.80% during the forecast period (2023-2030).
Online event ticketing is an activity that you do to book the tickets for a live or performed show or event on a location. The increasing use of the Internet and smartphone applications to book Online event ticketing for movies, sports, and live events is expected to boost the growth. Individuals in the Asia Pacific region, in particular, are willing to pay marginal Internet processing costs to avoid standing in long lines, which is hyping the Online event ticketing market. The major driving factors for the Online event ticketing market is the convenience and cost-to-key easy handling charges for the consumers. Also, the growing usage of online promotions and hassle-free booking of the shows at their own convenience is affecting the Online event ticketing market positively.
Top Key Players for Online Event Ticketing Market:
Brown Paper Tickets (US), Cvent Inc (US), Eventbee Inc. (US), Eventbrite Inc. (US), Eventzilla (US), and other major players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Online Event Ticketing Market:
Drivers:
Surge in Music Events
The surge in music events has acted as a significant driver for the online event ticketing market. This trend has been propelled by various factors, including increased demand for live music experiences, the diversification of music genres and festivals, and the convenience of online ticket purchasing. As music enthusiasts seek access to concerts, festivals, and performances, online event ticketing platforms have seen a boost in ticket sales and revenue. The ease of browsing and booking tickets online, coupled with the ability to discover events through digital platforms, has contributed to the market's growth. Additionally, the COVID-19 pandemic accelerated the adoption of virtual and hybrid music events, further expanding the online ticketing market's scope to include digital concerts and livestreamed performances. Overall, the surge in music events continues to be a driving force behind the flourishing online event ticketing industry.
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Opportunities:
Increasing Paperless Transaction
The increasing trend toward paperless transactions represents a significant opportunity for the online event ticketing market. With the growing emphasis on digitalization and environmental sustainability, both event organizers and attendees are embracing paperless ticketing solutions. Paperless tickets eliminate the need for physical tickets, making the ticketing process more convenient for both event organizers and attendees. Customers can easily purchase tickets online, receive them electronically, and present them via mobile devices or email, eliminating the hassle of printing or carrying physical tickets.
Segmentation Analysis of the Online Event Ticketing Market:
By Event type, the online event ticketing market is segmented into Movies, Sports, Live Shows, Stand-up comedy, live concerts, drama, and other shows. In this segment, the Sports segment is accounted for the largest segment with more than half of the market share of 43.12% and is estimated to have a market size of USD 29.50 billion in the year 2026 with a CAGR of 5.20%.
By Platform type, the Mobile and tablet segment is accounts for the largest online event ticketing market segment with a market share of 57.88% and is estimated to have a market size of USD 43.98 billion in the year 2026 with a CAGR of 6.03%. Increased demand from the theaters and exhibitors for m-tickets and e-tickets to stop wasting paper has boosted the online event ticketing market.
By Event Type
- Movie
- Sport
- Live Show
- Stand-up comedy
- Live concerts
- Drama
- Other shows
By Platform
- Desktop
- Mobile
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Regional Analysis of the Online Event Ticketing Market:
Due to high capita income, North America holds the largest online event ticketing market share for the online event ticketing market especially, the United States and Canada have a maximum number of consumers for the market. Event ticketing has experienced an effective transition from traditional ticketing at event venue counters to purchasing tickets in advance from the convenience of one's own home. Buying tickets using smartphones and tablets has increased over time due to the operation's apparent convenience and flexibility and the user-friendly mobile interfaces created by service providers.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Key Industry Development:
In April 2023, Evvnt, one of the leading event ticketing, marketing, and discovery solutions providers, launched a new Mobile Box Office for event gate and door sales. The smartphone application makes managing ticket sales and check-in processes easier for event organizers and venues.
In April 2023, PayPal Holdings Inc. and Live Nation Entertainment Inc. announced a multi-year partnership in which PayPal would serve as Ticketmaster's Preferred Payments Partner, offering fans an easy and flexible method to purchase tickets. Fans will be able to pay using PayPal, Pay Later products, and Venmo* via the Ticketmaster site as part of the agreement. Furthermore, PayPal Braintree would become Ticketmaster's principal global payment processor, accelerating checkout and providing fans with immediate access to event add-ons such as merchandise and parking for purchase.
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