People's access to and attendance at events are changing due to the exponential rise of the online event ticketing business. This sector uses digital platforms to make it easier to find events, buy tickets, and manage attendees. It now plays a crucial role in the global entertainment and leisure industry, giving organizers effective tools for ticket management, promotion, and sales.

Customers' entire experience attending events has been greatly improved by the ease of online ticketing, which provides safe transactions, simple access, and real-time information. The online event ticketing market is expected to grow steadily as technology progresses, spurring accessibility and creativity in the ever-evolving live events industry.

ONLINE EVENT TICKETING MARKET: REPORT SCOPE & SEGMENTATION

Global Online Event Ticketing Market Dynamics

The market for online event tickets is always changing due to shifting customer tastes and advances in technology. The popularity of digital platforms and mobile apps has increased accessibility, convenience, and efficiency in ticket sales. Engagement is increased by tailored experiences, social media integration, and dynamic pricing schemes. Other variables that impact the industry include changes in regulations, the increasing demand for virtual events, and worldwide events. Its landscape is further shaped by innovations like blockchain for safe transactions and artificial intelligence for predictive analytics. Flexibility, user experience, and cutting-edge technologies continue to play a crucial role in determining the dynamic trajectory of the online event ticketing market as the sector adjusts to new trends.

Global Online Event Ticketing Drivers

• Digital Transformation

Digital transformation is a widespread force that is altering industries through the utilization of cutting-edge technologies to rethink business models, operations, and consumer interactions. To improve productivity and creativity, it includes integrating state-of-the-art digital solutions including cloud computing, artificial intelligence, and data analytics. It is essential to adapt if you want to satisfy changing customer expectations, stay competitive, and take advantage of new opportunities.

In addition to streamlining procedures, digital transformation increases agility, enabling companies to react swiftly to shifts in the market. It is a strategic necessity that will eventually place businesses at the forefront of industry innovations by accelerating organizational evolution and cultivating a tech-savvy culture.

• Increasing Consumer Demand for Hassle-Free Ticket Buying

The modern inclination for smooth, convenient experiences is a major driver of the online event ticketing business, as is the growing consumer demand for hassle-free ticket purchasing. Modern customers want their transactions to be as efficient as possible, and online ticketing platforms offer a user-friendly, streamlined way to buy event tickets. The need for immediate accessibility and fewer steps involved in the ticketing process is what is driving this need. Online ticketing systems that emphasize user experience are well-positioned to fulfill the growing need of consumers for simple and expedient transactions, which will fuel their popularity and support the ongoing expansion of the online event ticketing industry.

Restraints:

• Dependency on Internet Infrastructure

Stable and widely available internet access is necessary for these platforms to function properly, which poses difficulties in areas with poor connectivity. The seamless operation of online ticketing services may be threatened in locations where dependable internet access is not widely available, impeding accessibility and user experiences. This reliance on Internet infrastructure limits the market's accessibility and presents challenges for both planners and participants. The development of techniques to deal with connectivity problems and guarantee the reliable operation of online event ticketing services across a range of geographic environments is required to get around this restriction.

• Security Concerns

Both event organizers and ticket purchasers are at danger due to hacking, fraudulent activity, and illegal access. Incidents of identity theft and data breaches weaken consumer confidence, impeding the broad use of online ticketing systems. To protect sensitive data, the industry must employ strong cybersecurity measures, which calls for constant innovation to keep up with emerging cyber threats. Resolving these security issues is essential to maintaining user trust and the expansion of online event ticketing.

Opportunities:

• Integration of Emerging Technologies

Blockchain, virtual reality (VR), and augmented reality (AR) are examples of cutting-edge technologies that platforms can integrate to deliver creative, safe, and engaging user experiences. Event previews and virtual attendance can be improved by AR and VR, and tamper-proof and transparent transactions are guaranteed by blockchain. These innovations not only improve user interaction but also set platforms apart in a crowded market. Taking advantage of these advances puts online ticketing services at the forefront of the market, attracting tech-savvy customers and meeting changing needs for innovative and improved event experiences.

• Collaboration with Event Organizers

Platforms can customize services to match particular event requirements by cultivating strong connections. This allows organizers to use cutting-edge tools for ticket management, audience engagement, and promotion. Collaborative efforts can yield tailored outcomes, augmenting the total value proposition for both hosts and guests. Online ticketing systems may now access a wide range of event categories, including concerts and conferences, because of this cooperative approach, which fosters an ecosystem that benefits all parties involved. Using efficient cooperation, platforms can broaden their scope and acquire a valuable understanding of the changing demands of the industry, thereby establishing themselves as essential partners in the event management domain.

Segment Overview

• By Event Type

Based on event type, the global online event ticketing market is divided into music, sports, and movies. The music category dominates the market with the largest revenue share in 2023. Online retailers make it easier for music lovers to obtain tickets for live events such as concerts, festivals, and plays, giving them easy access to the performances of their favorite musicians. The sports sector includes ticketing services for a range of athletic events, such as games, competitions, and championships in different sports. In a similar vein, the movie category includes the internet ticketing of movie premieres and screenings. Within the ever-changing world of online event ticketing, this segmentation offers users focused attention and features specifically designed for each entertainment domain, giving them effective and targeted ticketing options for their interests.

• By Platform

Based on the platform, the global online event ticketing market is categorized into desktop and mobile. The mobile category leads the global online event ticketing market with the largest revenue share in 2023. The ticketing services that may be accessed through smartphones and tablets often through specific mobile applications fall under the mobile category. With mobile ticketing, consumers can find, buy, and manage event tickets with their portable devices, making it convenient to do so while on the go.  Purchases of tickets made on desktop computers, laptops, or other larger-screen devices are included in this category. To browse events, select tickets, and complete transactions, users can go to specific websites or platforms.

Global Online Event Ticketing Overview by Region

The global online event ticketing market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023.  North America's strong technology foundation, high internet penetration rate, and vibrant entertainment sector have made it the market leader in online event ticketing. Due in large part to the region's tech-savvy populace, broad digital usage, and vibrant live events scene, online ticketing services have become increasingly popular. Numerous activities in major cities, including movies, sports, and music, increase demand. North America is positioned at the forefront of the online event ticketing industry, demonstrating its supremacy in creating its future thanks to the existence of well-established ticketing firms and a culture that embraces digital advancements.

Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. The region's growing middle class, increased disposable income, and growing cultural attraction for live events are the main drivers of this predicted expansion. Online event ticketing services are gaining in popularity as a result of a population that is becoming more tech-savvy and better internet accessibility. The booming demand for digital ticketing solutions is partly attributed to the thriving entertainment scenes found in major cities. Asia-Pacific is positioning itself as a major economic engine and promoting significant market expansion as it continues to embrace digitalization.

Global Online Event Ticketing Competitive Landscape

In the global online event ticketing market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global online event ticketing market include,

• Razorgato
• StubHub
• Ticketmaster
• Tickpick
• Fandango
• Atom Tickets LLC
• Movietickets.com
• Big Cinemas
• Cinemark Holdings Inc.
• Eventbrite
• Live Nation Entertainment Inc
• BookMyShow.com
• Vue Entertainment
• Mtime
• Kyazoonga, and various others.

Global Online Event Ticketing Recent Developments

• In June 2023, Seat Unique secured EURO 7 million (USD 9 million) in its series A funding round. This significant funding follows Seat Unique's remarkable achievement of surpassing EURO 30 million (USD 32.6 million) in ticket sales and collaborations with more than 40 prominent UK venues, clubs, and promoters.
• In April 2023, TicketRev used USD 1.1 million in pre-seed funding to create their new mobile app. By letting users choose their preferred pricing and seat position, the site gives fans more power. This special feature makes it possible for teams and ticket sellers to take these requests into account and approve them, which helps to clear unsold inventory.
• In January 2023, The online lottery ticket company Jackpot.com announced that it is entering the Texas market with the help of a substantial USD 42 million fundraising round. Leading professional sports teams in the nation have provided this funding. Furthermore, Jackpot.com has established strategic marketing alliances with professional sports clubs, like the Dallas Cowboys, Houston Rockets, and San Antonio Spurs.
• In October 2022, Events.com announced that it is purchased the assets of the worldwide ticketing company Brown Paper Tickets (BPT), with clients in over 120 countries. Since its launch, BPT's system has processed and paid event organizers over $1 billion for tickets sold and registrations.

Scope of the Global Online Event Ticketing Market Report

Online Event Ticketing Market Report Segmentation

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

• Global Online Event Ticketing Market Size and Forecast: To identify and estimate the market size for the global online event ticketing market segmented by event type, by platform, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of online event ticketing between 2019 and 2032.
• Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global online event ticketing market
• Market Influencing Factors: To find out the factors which are affecting the sales of online event ticketing among consumers
• Impact of COVID-19: To identify and understand the various factors involved in the global online event ticketing market affected by the pandemic
• Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Event Organizers
• Online Ticketing Platforms
• Technology Providers
• Investors and Trade Experts