Online Event Ticketing Market: Current Analysis and Forecast (2022-2028)
Emphasis on Platform (Desktop and Mobile); Event Type (Movies, Sports, Music, and Others); and Region/Country
The Online Event Ticketing Market is expected to grow at a strong CAGR of around 8% mainly due to the prevalence of smartphones and personal computers. An event ticket platform helps make the ticket sales process easy and convenient. These platforms help sell tickets digitally and directly to audiences without relying on marketing agencies. These platforms have greatly simplified the functionality of ticket sales and management. They are easily accessible by any person from a non-technical field, which makes them more versatile and useful. Further on, the pros of using online event ticketing systems such as real-time data analytics, seamless event check-in, data collection, customer service, and better reach are some of the most important factors driving the growth of the market. The reach that online ticketing software offers with social media integration and email promotion capabilities is one of the major advantages because it boosts online ticket sales by reaching even more people. Moreover, Online ticketing systems also provide useful data collection and analytics tools. It assists in keeping track of registrations and ticket sales as well as gathering data on attendance that can be used to improve future marketing and sales strategies.
Some of the major players operating in the market include Atom Tickets LLC, Ticketek Pty Ltd, Cvent Inc., KyaZoonga Inc., Ticketmaster, Eventbee Inc., Eventbrite, TickPick LLC, StubHub, and ThunderTix Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst platform, the mobile segment held a prominent share of the market in 2020”
Based on platform, the market is segmented into desktop and mobile. The mobile segment catered to a significant share of the market in 2020. This large share is due to the rising adoption of smartphones and the availability of various apps for the booking of movies, sports, music, and other events. For instance, according to IBM, the number of smartphone users has climbed beyond 3 Bn, and the global mobile workforce is expected to reach 1.87 Bn by 2022.
“Amongst event type, the sports segment held a prominent share of the market in 2020”
By event type, the market is categorized into movies, sports, music, and others. Among these, the sports event type segment accounted for a prominent share of the global online event ticketing market in 2020. Increased viewing of sporting events has led to an increase in online ticket sales for sporting events. The National Football League (NFL), FIFA World Cup, Olympic Games, ICC Cricket World Cup, and India Premier League (IPL) are some of the most popular sports competitions. For instance, in March 2020, the NFL announced that an estimated 208 Mn-plus viewers watched Super Bowl LVI. The figure is based on a survey conducted in conjunction with Nielsen, which adds measurement data to help determine how many people, particularly in group situations, may have seen the game.
“Asia-Pacific to grow at a strong CAGR during the forecast period”
The Asia-Pacific online event ticketing market is anticipated to grow at a substantial CAGR during the forecast period. This is due to the rising disposable income, high smartphone penetration increased internet access, and expanding urbanization. Customers have shown a willingness to pay internet handling fees to skip long lineups, especially in the Asia Pacific region, which has benefited the sector. Moreover, the smartphone penetration in the region is further helping the Asia-Pacific market to grow at a steady rate. For instance, according to the GSM Association, the number of mobile internet users in the Asia-Pacific region will grow to around 2.7 Bn by 2025 (60% of the population).
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global online event ticketing market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Online Event Ticketing Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global online event ticketing market were the three major steps undertaken to create and analyze the adoption of online event ticketing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global online event ticketing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the online event ticketing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the online event ticketing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as platform and event type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the online event ticketing market. Further, we conducted factor analysis using dependent and independent variables such as the platform and event type of the online event ticketing market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the online event ticketing market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global online event ticketing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the online event ticketing market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global online event ticketing market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global online event ticketing market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the platform and event type in the global online event ticketing market.
The main objective of the Global Online Event Ticketing Market Study
The current & future market trends of the global online event ticketing market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the online event ticketing market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the platform and event type
- Define and analysis of the regulatory framework for the online event ticketing industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the online event ticketing market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the online event ticketing market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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