Online Event Ticketing Global Market Report 2023
Major players in the online event ticketing market are Anschutz Entertainment Group, AOL Inc., Atom Tickets LLC, Cvent Inc., Eventbee Inc., Cinemark Holdings Inc., Eventzilla Corporation, Fandango Media LLC, Eventbrite Inc.
New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Online Event Ticketing Global Market Report 2023" - https://www.reportlinker.com/p06464191/?utm_source=GNW
, Moshtix Pty Ltd., StubHub Inc., Razorgator LLC, Ticketek Pty Ltd., Thundex Tix, Live Nation Inc., and Viagogo Entertainment Inc.
The global online event ticketing market is expected to grow from $46.06 billion in 2022 to $48.91 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The online event ticketing market is expected to reach $59.60 billion in 2027 at a CAGR of 5.1%.
The online event ticketing market includes revenues earned by entities by providing event registration, professional guidance & support, ticket booking, online payment of events, and event promotion.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Online event ticketing refers to the collection of features, tools, and integrations that enables users to sell tickets for an event or service online while gathering registration information from customers or event participants.
North America was the largest region in the online event ticketing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in online event ticketing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of online event ticketing are sports, music and other live shows, fairs and festival, conferences, food and drink events, and others.Sports refer to physical activities or games played individually or in teams with the objective of competing against each other to achieve a goal or to improve physical fitness and skills.
It can be done through desktop and mobile platforms for various applications including hotels and restaurants, clubs, schools and colleges, theatres, and others.
The increasing number of live entertainment events is expected to propel the growth of the online event ticketing market going forward.Live entertainment events refer to musical events that are conducted in front of a live audience.
An online event ticketing system allows attendees to register, and provides data to the event organizers on visitors making the reservation process more efficient and smoother for live events.For instance, Live Nation Entertainment, a US-based concert management company, hosted 12,500 events in the second quarter of 2022 itself which was 2500 more shows as compared to the whole of the 2019 year.
The show attendance also hit 33.5 million which was a 20% increase as compared to 2019’s 27 million. 100 million tickets were sold through July 2022 while the number was only 74 million in 2019. As a result, the increasing number of live entertainment events is driving the growth of the online event ticketing market.
Product innovations are a key trend gaining popularity in the online event ticketing market.Major companies operating in the online event ticketing market are introducing innovative products such as TicketMint Ticketing System to sustain their position in the market.
For instance, in November 2022, TicketMint, a US-based online ticketing company, launched TicketMint Ticketing System, aworld’s first fraudulent free ticketing system. The new ticketing system uses Blockchain technology to allow event organizers to issue uniquely numbered and time-stamped tickets that would help the artists avoid forgery and counterfeit ticketing.
In February 2022, Ticketmaster, a US-based ticket sales and distribution company acquired Tixcraft for an undisclosed amount.The acquisition would expand Ticketmaster’s reach in Asia and help it acquire market share in newer geographies.
Tixcraft is a Taiwan-based music event ticketing platform.
The countries covered in the online event ticketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The online event ticketing market research report is one of a series of new reports that provides online event ticketing market statistics, including online event ticketing industry global market size, regional shares, competitors with a online event ticketing market share, detailed online event ticketing market segments, market trends, and opportunities, and any further data you may need to thrive in the online event ticketing industry. This online event ticketing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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