The latest market report published by Credence Research, Inc. is “Global Online Event Ticketing Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Online Event Ticketing Market generated revenue of around USD 49.5 billion in 2021 and is anticipated to grow a CAGR of over 3.1% during the forecast period from 2022 to 2028 to reach around USD 59.45 billion in 2028.
The purchase of event tickets via the internet is known as online event ticketing. It enables customers to buy, sell, and trade tickets securely. Online Event Ticketing also enables promoters to manage their event ticket sales easily. It facilitates people to buy tickets from the comfort of their own homes or offices, and it has made it easier for event organizers to sell tickets globally. It is software used to create a one-stop shop for smart device ticket booking. An online event ticketing system is a way to create a ticket using apps, websites, or other similar online system-related tools. It made it possible for a streamlined workflow to support sales, management, marketing, and support services to set off the necessary events for an effortless customer experience. Sellers can monitor sales and data in the online event ticketing system with the help of tools like real-time analytics, which are available to them. The increasing use of online event ticketing software in clubs, theatres, universities and colleges, restaurants and hotels, and other businesses propels the global market for online event ticketing. However, the lack of price regulations and unstable ticket prices might prevent the growth of the online event ticketing industry.
t is bifurcated into Platform, Event, and Geography. Based on the platform, the global market is divided into mobile and desktop. Based on the event, the market is segmented into sports, music & other live shows, and movies. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global online event ticketing market in 2021 and accounted for a significant market revenue share owing to its higher per capita income and expanding internet penetration in nations like the United States and Canada. The ease and accessibility of buying movie tickets will also likely cause mobile movie ticketing services to grow into a significant revenue-generating industry in North America during the forecast period.
There are several challenges that can arise when it comes to online event ticketing:
Technical issues: There may be issues with the ticketing website or platform, such as slow loading times or errors during the checkout process. These issues can frustrate users and make it difficult for them to purchase tickets.
Security concerns: Online ticketing requires users to enter sensitive personal and financial information, which can be a concern for some people. Ensuring that the ticketing platform has adequate security measures in place can help alleviate these concerns.
Fraud prevention: There is always the risk of fraud when it comes to online ticketing, whether it be through the use of stolen credit card information or fake tickets being sold. It is important for ticketing companies to have robust fraud prevention measures in place to protect both their customers and their own reputation.
Why to Buy This Report-
· The report examines the global online event ticketing market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
· The report provides competitive landscape information, such as how the market's key players operate at the global, regional, and country levels.
· In-depth analysis of the global online event ticketing market segmentation by platform and event.
· The report contains comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and import-export statistics.
· The online event ticketing market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
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