Online Event Ticketing Market to be Dominated by Mobile Phone Segment Through 2028
Frequent promotions and discounts offered on the online tickets are the leading factor driving the online event ticketing market during the projected period.
According to TechSci Research report, “Online Event Ticketing Market – Global Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028,” the global online event ticketing market is expected to grow during the forecast period, 2024-2028 owing to accessibility of buying movie tickets, purchasing tickets in advance using smartphones with convenience at home. Online platforms often feature a vast range of events, providing users with a diverse selection to choose from with real-time ticket availability and select their preferred seats or sections based on the seating chart provided by the platform.
Online ticketing platforms offer a wide range of events to choose from, including concerts, festivals, sports events, conferences, theater shows, and more. Customers have access to a vast array of options and can explore different events based on their preferences and interests. This variety has contributed to the increased demand for online ticketing. Moreover, online event ticketing platforms have implemented measures to enhance transparency and security in the ticketing process. Customers can view seating charts, select specific seats, and compare ticket prices and availability.
Additionally, secured payment gateways and fraud prevention measures help build trust among customers, making them more comfortable with purchasing tickets online. The pervasive use of social media and digital marketing has transformed the way event organizers promote their events and reach potential attendees. Online ticketing platforms leverage social media platforms and digital marketing techniques to target specific audiences, resulting in increased ticket sales. Additionally, online event ticketing platforms are forming partnerships and integrating with other services to offer a comprehensive event experience. This includes collaborations with travel and accommodation providers, dining reservations, transportation services, and merchandise sales, creating a seamless experience for attendees. Online event ticketing platforms are constantly innovating to provide enhanced user experiences, expand global reach, and adapt to the evolving event landscape.
Online ticketing allows for a diverse range of event offerings. Event organizers can explore niche markets and target specific audience segments with specialized events. This includes niche conferences, workshops, cultural events, and unique experiences that cater to specific interests. The online ticketing market provides a platform to promote and sell tickets for such specialized events.
Additionally, the majority of online event ticketing platforms charge ticket buyers convenience fees and credit card processing. About 85% of event planners charge their attendees for these expenses. Currently, most ticket buyers are required to pay a service charge on top of the ticket price. The payment method and fees are also significant considerations when selecting a ticketing platform considering different ticketing organizations provide varying pricing points.
The global online event ticketing market is segmented based on platform, event type, and region.
The market is divided into desktop and mobile phone based on platform. Among which the mobile segment would experience rapid growth and dominate the industry. Making a reservation using a mobile device appears less complicated than making online reservations from a desktop computer. Due to the falling cost of internet packs, mobile device use as the preferred method of ticket purchase has grown in popularity in recent years.
Based on the event type the market is divided into sports, music shows, movies, comedy shows, and others (exhibition and food & drinks events, etc.). Among which the music events section is expected to hold the largest market share. The market for online event tickets is dominated by the music events segment, which includes profitable sales for all music-related events including concerts, festivals, musicals, music shows, and operas.
Key market players in the global online event ticketing market include:
- Atom Tickets LLC
- Bigtree Entertainment Pvt Ltd
- Cinemark Holding Inc
- KyaZoonga, Inc.
- Ticketmaster Entertainment LLC
- Eventbrite, Inc.
- StubHub, Inc.
- Live Nation Entertainment, Inc.
- Fandango Media, LLC
- Viagogo Entertainment Inc.
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“Throughout the projected period, the demand for online event ticketing might increase due to the convenience, accessibility, broad event selection, technological advancements, personalized experiences, and enhanced security measures provided by online event ticketing platforms. Online event tickets have been growing significantly due to increasing music-related events, including converts, festivals, and music shows. The growing use of paperless transactions is also supporting the ability to create electronic tickets distributed via emails or text messages which is boosting the online event ticketing platforms globally.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Online Event Ticketing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Platform (Desktop and Mobile), By Event Type (Sports, Music Shows, Movies, Comedy Shows, and Others (Exhibition and Food & Drinks Events, etc.)), By Region and Competition”, has evaluated the future growth potential of online event ticketing market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the market of online event ticketing globally.
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