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.
Browse full research report on 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.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/communication-services
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
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Middle East
& Africa
- Latin America
- Mexico
- 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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