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The event tickets market share is expected to increase by USD 14.98 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6%.
This event tickets market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers event tickets market segmentation by geography (North America, Europe, APAC, MEA, and South America), source (primary and secondary), and event type (sporting events, concerts, performing arts, and others). The event tickets market report also offers information on several market vendors, including Ace Ticket Worldwide Inc., AMC Entertainment Holdings Inc, AXS Group LLC, Bigtree Entertainment Pvt Ltd, Cinemark Holdings Inc, Coast To Coast Tickets LLC, CTS Eventim AG & Co. KGaA, eBay Inc., Live Nation Entertainment Inc., and TickPick LLC among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing use of mobile apps for booking tickets is notably driving the event tickets market growth, although factors such as growing consumption of online content may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the event tickets industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Event Tickets Market Driver
The increasing use of mobile apps for booking tickets will be a significant factor in driving the growth of the event tickets market. The introduction of 4G and 5G technologies has enabled end-users to use mobile apps such as Eventbrite, Eventjoy, Ticketbud, Paytm, and Eventbee for ticket booking. Mobile ticketing apps allow users to create, promote, sell, and book tickets at any point in time from their mobiles with an Internet connection. These apps offer easy payment options, hassle-free ticket booking, search options, feeds, maps, conference web pages, and floor plans. The growing importance of completing registrations and ticketing processes before going to any event has encouraged users to adopt mobile apps for ticket booking.
Key Event Tickets Market Trend
The high utilization of social media will positively influence the growth of the market during the forecast period. Event organizers and moviemakers are increasingly using social computing tools for branding, marketing, broad-based knowledge management initiatives, and selling tickets. The increased importance of sentiment analysis and the advances in behavioral analytics are encouraging market vendors to include social media in their business processes. The emergence of social media as one of the primary sources for promotions has resulted in an increasing number of partnerships between ticket vendors and social media platforms.
Key Event Tickets Market Challenge
The growing consumption of online content will be a major challenge for the event tickets market during the forecast period. Viewers who cannot afford the high price of tickets or those who belong to the low-income group opt for the online streaming of sports events, movies, and other live events. For instance, most sports events are also streamed live on TV channels or online, and the number of tickets for such events is limited. Therefore, a limited number of people can attend them. Geographical constraints also prevent people from viewing such events on the spot. Hence, the convenience provided by online streaming, geographical limitations, and the limited number of tickets available encourage people to watch such content online. The outbreak of the COVID-19 pandemic led to the imposition of nationwide lockdowns in many countries across the world in 2020. The low cost of economic data plans offered by network providers has increased the number of Internet users. This has propelled the adoption of online content globally as consumers can easily access the Internet across various media.
This event tickets market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global event tickets market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the event tickets market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the event tickets market encompasses successful business strategies deployed by the key vendors. The event tickets market is fragmented and the vendors are deploying growth strategies such as adopting various technologies in their operations and services to compete in the market.
Ace Ticket Worldwide Inc. - The company offers tickets for National Hockey League games, National Basket Ball Association games, and other events.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The event tickets market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the event tickets market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the leisure products marketincludes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Source
Market Segmentation by Event type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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