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Online Event Ticketing Market: Segmented: By Application (Sports, Music, Movies and Others), By Platform (Desktop and Mobile) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Online Event Ticketing Market to surpass USD 87.1 billion by 2031 from USD 47.2 billion in 2021 at a CAGR of 6.3% in the coming years, i.e., 2021-31.
Online Event Ticketing is a system that allows people to purchase tickets through digital platforms. Online Event ticketing has revolutionized traditional systems and cumbersome processes. The digitalization of the economies has played a pivotal role of Online Event Ticketing market. Attractive and user-friendly interfaces and websites for mobiles and desktops have grabbed the attention of end users, resulting in the expansion of businesses. Even for event organizers, it has become very easy to create an event booking page/website using different channels.
Online Event Ticketing Market is expected to project a notable CAGR of 6.3% in 2031.
Accessibility to internet has changed the whole market scenario, with greater users of internet the event organizers have greater access to the market virtually. The market is driven by rising adoption of digital platforms and increasing digital awareness in the economies. Further, constant efforts to become paperless governments is also promoting digital activities.
Music segment to grow with the highest CAGR during 2021-31
Online Event Ticketing is fragmented on the basis of applications into Sports, Movies, Music and others. Music segment is expected to grow during the forecast period. Music concerts, shows, and live shows are the main sources of income for ticketing vendors. With new artists and production houses launching different genres of music and people attending the concerts and live shows, has driven the growth in online event ticketing.
Mobile segment to grow with the highest CAGR during 2021-31
Online Event Ticketing is classified on the basis of the platform into Mobile and Desktop.
Mobile segment is expected to grow during the forecast period. As the world is becoming faster day by day, people are inclining towards products that can be accessed more easily and quickly and therefore mobiles are constantly used by the customers rather than desktops. As mobile phones are more compatible and they have all the smart features that a user generally needs, customers, use mobile applications more often as compared to desktops or websites to buy tickets online.
Rise in internet availability and smartphone users
Widespread popularity of internet and a budget-friendly range of smartphones has driven the growth of online event ticketing market. Booking a ticket online from the ease of our homes has become more viable due to smartphones and internet availability. The service providers have developed user-friendly and attractive interfaces for their customers which have gained immense popularity over the period of time. There has been a major shift from conventional methods of ticket purchasing to online event ticketing as it provides all the information regarding the layouts, available seats, timing, etc. on a single platform. Smartphone users are expected to grow significantly as developing economies move towards technological advancements and as internet becomes accessible to everyone.
Move towards paperless systems
Technological advancements have diversified payment methods and created options for paperless systems. Papers are produced by exploiting nature and it affects the environment adversely, therefore switching to online modes will reduce environmental costs. Governments around the world are promoting these systems and launching initiatives that will support online event ticketing.
Fluctuating prices of tickets
Different ticket providers have their own websites or mobile applications which offers different prices for the same shows. They charge different service charges and additional fees which is higher than purchasing the ticket offline. Thus, customers sometimes prefer to buy tickets from the traditional method due to of the high charges. As organizers shift their burden to the customers it discards the customers to rather purchase the tickets offline.
Online Event Ticketing market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is expected to grow during the forecast period due to increasing popularity of internet and smart devices. Developing nations are moving towards digital literacy and have worked extensively in the field of advancement in technologies. With the emergence of start-ups and cheap internet providers, there is a huge rise in audience in this region. Additionally, high disposable income of citizens has created more scope for organizers in the market. High population density and a rising pool of talent in this region has also provided an edge to the organizers. Asia Pacific will see a boom in global presence in entertainment industry and to cater the demands of the audience online event ticketing will surely be a big hit in this region.
Online Event Ticketing segment has seen a negative effect as a result of the covid-19 pandemic. Due to the lockdown, entertainment industry and the performing arts sector have faced a major downfall. After the strict impositions of Covid-19 guidelines, people were forced to sit at home and they had to consume the contents virtually. As there were no events or shows for a long time, many theatre owners and cinema halls were shut down. The industry was highly affected in the pandemic and so was the online ticketing business. As the world is recovering from the global pandemic, the entertainment industry is revamping itself to cope up with the post-pandemic safety guidelines. Online event ticketing will witness a huge comeback during the forecast period.
Online Event Ticketing is further segmented by region into:
Online Event Ticketing Segments:
| Report Attribute | Details |
| Market size value in 2021 | 47.2 billion |
| Revenue forecast in 2031 | 87.1 billion |
| Growth Rate | CAGR of 6.3% from 2021 to 2031 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Application, Platform and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Atomic Tickets LLC, Big Cinemas, Bigtree Entertainment Pvt. Ltd., Cinemark Holdings Inc. Cineplex Inc., Kyazoonga, Fandango, Inox Leisure Ltd., MovieTickets.Com, EasyMovies, RazorGator, StubHub, Ticketmaster Entertainment. |
Online Event Ticketing market size was estimated at USD 47.2 billion in 2021 and is expected to reach USD 87.1 billion in 2031.
Online Event Ticketing is a system which allows people to purchase tickets through digital platforms for different events like movies, concerts or shows etc. from anywhere with the availability of internet and smart devices.
Mobile and Music segment has accounted for the largest Online Event Ticketing market share.
Some of the key players are Atomic Tickets LLC, Big Cinemas, Bigtree Entertainment Pvt. Ltd., Cinemark Holdings Inc. Cineplex Inc., Kyazoonga, Fandango, Inox Leisure Ltd., MovieTickets.Com, EasyMovies, RazorGator, StubHub, Ticketmaster Entertainment.
Widespread popularity of internet and budget friendly range of smartphones along with shifting to paperless systems has driven the growth of online event ticketing market. Governments around the world are promoting paperless systems and launching initiatives which will support online event ticketing.
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