online event ticketing system
Online event ticketing market was valued at USD 51.91 billion in 2021 and is expected to reach USD 75.29 billion by the year 2028, at a CAGR of 4.80% over the forecast period 2022- 2028.
An online event ticketing system is a platform that allows ticket sellers to sell tickets online and buyers to buy tickets. It is software that creates a method to get tickets by using an application, website, or something related to the online system. It is a one-stop-shop for booking tickets on smart devices like mobile, and desktops. It is an updated version of traditional event ticketing processes for various events. Movie, sports, live shows, stand-up comedy, live concerts, drama, and other shows artists offers, and to attend them individuals have to reserve their seats by booking tickets, and online event ticketing makes the ticket booking process easy and helps to save time and money of audience. Additionally, it offers seating preference to viewers, provides mobile tickets in the form of a barcode, and portrays a view of the screen or stage or ground from the viewer’s preferred seat these features enhances customer experience and their position in the market. According to the Digital Market Outlook, the average revenue per online user of the online event ticket in Europe is 77.43 USD.
Major Key Players for Online Event Ticketing Market:
- Brown Paper Tickets
- Cvent Inc
- Eventbee Inc.
- Eventbrite Inc.
- Moshtix Pty Ltd
- Razorgator LLC
- StubHub Inc.
- Thundex Tix
- Ticketek Pty Lt
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Market Dynamics and Factors:
Online event ticketing services play a role in increasing the sale of tickets through their channels through promotion and advertising activities carried out. Internet-enabled smartphones and tablets have completely changed the ticket purchasing system. Penetration of smartphones and the internet is giving a high boost to the market. In addition to this, prominent service providers such as Cvent, Eventbee, and Eventbrite are continuously developing user-friendly apps for Android and iOS to provide effective ticket purchase facilities. Moreover, the Service provider industry offers several deals and discounts along with special incentives such as pre-sales and additional discounts. They are re-designing their websites and developing advanced mobile applications to enhance online event ticketing software to offer a more user-friendly booking experience that propels the online event ticket market during the forecasted period.
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Online Event Ticketing Market Report Highlight:
- By platform, the mobile segment is expected to have the maximum market share in online event ticketing during the projected period. Growing penetration of high-speed 3G and 4G connectivity among mass users propel the growth of the market.
- By application, the sports segment is predicted to expand the most in the online event ticketing market during the forecast year. A large viewer base for sports consequently boosted online ticket sales for sports events.
- By region, North America is expected to dominate the online event ticketing market, during the projected period. The proliferation of the Internet and early adoption of technology support the growth of the online event ticketing market in North America.
Key Industry Development:
- In March 2022, Vivid Seats Inc. a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, announced partnership with Capital One Financial Corporation, with the launch of Capital One Entertainment, a new ticketing platform for Capital One rewards cardholders that allow to redeem their rewards for tickets to more than 500,000 events.
- In January 2022, ESPN Enterprises, Inc. and Vivid Seats Inc. a leading marketplace that utilizes its technology platform to connect ticket sellers across thousands of events each year announced a multi-year renewal of its relationship that builds upon the digital integrations powering the partnership, with a significant focus on linear and addressable media.
Online Event Ticketing Market Segmentation:
- Music & Other Live Shows
For this report, Introspective Market Research has segmented the Online Event Ticketing Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Online Event Ticketing Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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