Press release
Global Online Event Ticketing Market Projected to Surpass $69.25 Billion by 2029 with 7% Annual Growth
Online Event Ticketing Market Size
The online event ticketing market is anticipated to see robust growth due to the surge in live entertainment events. Live entertainment events are those musical occasions where the audience is present in person. The use of an online event ticketing platform enables participants to register while delivering pertinent data about the visitors to the event planners; this makes the process of booking for live events much more streamlined and effective. For example, Live Nation Entertainment, an American concert management firm, held 12,500 events in the second quarter of 2022 alone, a surge of 2500 shows compared to the entire year of 2019. The attendance figure touched 33.5 million, marking a 20% growth from the 27 million in 2019. In addition, 100 million tickets were sold up until July 2022, whereas the figure stood at 74 million in 2019. Consequently, the upsurge in live entertainment events is fueling the expansion of the online event ticketing market.
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What is the projected compound annual growth rate (CAGR) of the online event ticketing market from 2025 to 2034, and what factors influence it?
In recent times, the market size of online event ticketing has steadily expanded. It's expected to increase from $50.97 billion in 2024 to $53.43 billion in 2025, displaying a compound annual growth rate (CAGR) of 4.8%. Factors such as increased internet access, widespread smartphone usage, the rise of digital payments, a variety of events, and the impact of social media have fueled the growth during the historic period.
Over the next few years, the online event ticketing market is anticipated to experience robust growth. The market size is set to expand to $69.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%. The predicted expansion in the forecast period is credited to personalized recommendations, the rise of virtual and hybrid events, improved customer engagement tools, a focus on sustainability, and government regulations regarding online transactions. Noteworthy trends during the forecast period comprise of contactless and mobile ticketing, dynamic pricing tactics, enhanced security protocols, subscription-based structures, and crossover with augmented reality (AR).
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How are the latest trends influencing the growth of the online event ticketing market?
In the online event ticketing market, a significant trend that's catching on is the introduction of product innovations. To preserve their market standing, prominent companies in this sector are launching inventive products like the TicketMint Ticketing System. For example, TicketMint - an online ticketing company based in the US - unveiled the TicketMint Ticketing System in November 2022. Billed as the first-ever fraudulent-free ticketing system in the world, it leverages Blockchain technology. This enables event planners to issue tickets that are uniquely numbered and time-stamped, thereby helping artists steer clear of fake and counterfeit tickets.
What are the major segments of the online event ticketing market and their role in driving growth?
The online event ticketing market covered in this report is segmented -
1) By Type: Sports, Music And Other Live Shows, Fair And Festival, Conferences, Food And Drink Events, Other Types
2) By Platform: Desktop, Mobile
3) By Application: Hotel And Restaurants, Clubs, Schools And Colleges, Theaters, Other Applications
Subsegments:
1) By Sports: Professional Sports Events, Amateur Sports Events
2) By Music And Other Live Shows: Concerts, Theater Performances, Comedy Shows
3) By Fair And Festival: Cultural Festivals, Trade Fairs
4) By Conferences: Corporate Conferences, Educational Conferences
5) By Food And Drink Events: Wine Tastings, Food Festivals
6) By Other Types: Art Exhibitions, Workshops And Seminars
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Which regions are key players in the growth of the online event ticketing market?
North America was the largest region in the online event ticketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the online event ticketing market report during the forecast period. The regions covered in the online event ticketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the online event ticketing market?
Major companies operating in the online event ticketing market include Anschutz Entertainment Group, Atom Tickets LLC, Cvent Inc., Eventbee Inc., Cinemark Holdings Inc., Eventzilla Corporation, Fandango Media LLC, Eventbrite Inc., Moshtix Pty Ltd., StubHub Inc., Ticketek Pty Ltd., Live Nation Inc., Viagogo Entertainment Inc., Ticketmaster, Eventbrite, StubHub, AXS, Ticketek, Fandango, SeatGeek, Brown Paper Tickets, Songkick, See Tickets, Ticketweb LLC, Ticketmaster, Ticket Tailor, Tixr, Purplepass, Front Gate Tickets, TicketIQ, Gametime, BookMyShow, Eventim, TicketSource, BigTickets, iTickets, Tickeri, ThunderTix, Ticketbooth, TicketPeak
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What Is Covered In The Online Event Ticketing Global Market Report?
• Market Size Forecast: Examine the online event ticketing market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the online event ticketing market for a structured understanding.
• Key Players Overview: Analyze major players in the online event ticketing market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the online event ticketing market.
• Segment Contributions: Evaluate how different segments drive overall growth in the online event ticketing market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the online event ticketing market.
• Industry Challenges: Identify potential risks and obstacles affecting the online event ticketing market.
• Competitive Landscape: Review strategic developments in the online event ticketing market, including expansions, agreements, and new product launches.
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