Press release
Sports Events Tickets Market Revenue, Key Players, Dynamic, Demand and Drives, Forecast to 2031
The global sports events tickets market is expected to witness strong growth during the forecast period between 2021 and 2031.
Modes of purchasing tickets to witness different sports events live from venues has witnessed an evolution in the last few decades.
From consumers having to physically travel to sporting arenas and stand in lines to avail tickets to having to visit online websites and purchase them with the click of the mouse, the changes witnessed have been massive and grown more and more consumer-friendly, over the years.
The outbreak of the COVID-19 pandemic negatively impacted the growth in the global sports events tickets market. With rising cases globally, several leading sporting events worldwide were postponed.
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This led to reduced ticket sales and consumer demand which impacted the overall market growth.
However, with vaccine availability and approval given to the use of third booster dose, it is anticipated that sporting events would resume soon, leading to increased revenue-generating opportunities and positively affecting the growth of the overall sports events tickets market.
Sports Events Tickets Market-Trends and Opportunities
Rising popularity of different sports and sporting events among different population sections is the key growth driver for the global sports events tickets market.
Also, continuous growth in the number of leagues across different sports could fuel the growth in the global sports events tickets market, in the coming years.
In addition to this, increasing adoption of digital tickets among consumers is expected to propel the overall sports events tickets market, in the years ahead.
Other factors such as rising disposable income, growing sports industry, and increasing smartphone penetration could also offer revenue-generating opportunities for the leading market players, in future.
Digital tickets segment is expected to make the largest contribution to the overall market in the years ahead because of increasing trend toward electronic tickets among consumers.
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Sports Events Tickets Market-Competitive Landscape
The global sports events tickets market is extremely competitive, with the presence of several well-established market players. Many of them have become successful after having gained consumers' trust over several years and are anticipated to account for a large share in the overall market, in future.
Tie-ups with leading sporting leagues could help prominent sports tickets events market players expand their market presence and increase their revenue shares.
In March 2022, BookMyShow and Indian Premier League signed an agreement in which the former was announced as the main ticketing partner for the 2022 season of the league.
Growth strategies such as launch of novel modes of ticket sales could help prominent sports events tickets market players gain a competitive edge over other players, in future.
R&D undertakings could be a key growth strategy for well-established sports events tickets market players, in the years ahead.
Some of the leading players in the global sports events tickets market include Paytm, BookMyShow, LiveNation, Razogator LLC, and Ticket City Inc.
Sports Events Tickets Market-Regional Assessment
The global sports events tickets market is divided into four regions, namely, North America, Europe, Asia Pacific, and rest of the world.
Asia Pacific is expected to be the dominant region in the global sports events ticket market because of factors such as continuously growing sports industry and rising disposable income in countries such as India and China.
North America is anticipated to offer significant revenue-generating opportunities for the global sports events ticket market owing to the large presence of sports fanatics in countries and presence of several prominent players in countries such as US and Canada, contributing to market growth in the region.
Europe is expected to witness strong growth in the overall sports events ticket market because of the availability of application-based event ticketing services in countries such as Germany and UK.
The rest of the world is expected to witness moderate growth in the overall market, in the coming years.
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