Press release
Online Event Ticketing Market Size Forecasted To Achieve $69.25 Billion By 2029 With Steady Growth
Online Event Ticketing
What Is the Expected Online Event Ticketing Market Size During the Forecast Period?
In recent times, the dimension of the online event ticketing market has shown consistent growth. The market is projected to expand from a valuation of $50.97 billion in 2024 to a comprehensive worth of $53.43 billion in 2025. This escalation corresponds to a compound annual growth rate (CAGR) of 4.8%. The growth seen in the historic period can be accredited to factors such as the proliferation of the internet, the widespread use of smartphones, the increasing adoption of digital payment methods, the variety of events, as well as the impact of social media.
The digital event ticketing industry is anticipated to experience significant expansion in the upcoming years, reaching a market size of $69.25 billion in 2029 with a 6.7% CAGR. The projected growth during this period can be tied to factors such as custom recommendations, virtual and hybrid events, improved client engagement tools, emphasis on sustainability, and government policies regulating online dealings. Key trends expected throughout this period comprise contactless and mobile ticketing, flexible pricing strategies, heightened security protocols, subscription services, and augmented reality (AR) integration.
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What Are the Major Segments in the Online Event Ticketing Market?
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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What Are The Driving Online Event Ticketing Market Evolution?
The growth of the online event ticketing market can be attributed to the surge in live entertainment events. Such live shows typically involve music performances in front of an onsite audience. Through the online ticketing system, individuals can register for these events, providing critical data to organizers which streamlines the entire reservation process for such occurrences. For example, Live Nation Entertainment, an American concert management firm, held 12,500 events during just the second quarter of 2022. This surpasses the total number of events in 2019 by 2,500. The number of attendees also rose significantly, reaching 33.5 million, a 20% increase from 27 million in 2019. Moreover, ticket sales through July 2022 hit 100 million, in contrast with 74 million in 2019. Consequently, this surge in live entertainment events is contributing significantly to the expansion of the online event ticketing market.
Which Firms Dominate The Online Event Ticketing Market Segments?
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
What Trends Are Expected to Dominate the Online Event Ticketing Market in the Next 5 Years?
A notable trend gaining traction in the online event ticketing sector is the development of new and unique products. Key players in the market, including TicketMint, are creating innovative offerings like the TicketMint Ticketing System to maintain their market standing. In November 2022, US-based company TicketMint launched this groundbreaking, fraud-proof ticketing system, a first-of-its-kind in the world. Leveraging Blockchain technology, it provides event promoters with the ability to allocate uniquely numbered, time-stamped tickets, thereby helping artists guard against forgery and the sale of fake tickets.
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Which Is The Largest Region In 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Online Event Ticketing Market?
2. What is the CAGR expected in the Online Event Ticketing Market?
3. What Are the Key Innovations Transforming the Online Event Ticketing Industry?
4. Which Region Is Leading the Online Event Ticketing Market?
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