Categories: Market Research

Online Event Ticketing Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Online Event Ticketing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Online Event Ticketing, The online event ticketing market size has grown strongly in recent years. It will grow from $49.22 billion in 2023 to $52.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to internet penetration, smartphone usage, digital payment adoption, event diversity, social media influence..

The online event ticketing market size is expected to see strong growth in the next few years. It will grow to $64.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to personalized recommendations, virtual and hybrid events, enhanced customer engagement tools, focus on sustainability, government regulations for online transactions.. Major trends in the forecast period include contactless and mobile ticketing, dynamic pricing strategies, enhanced security measures, subscription-based models, integration with augmented reality (ar)..

The increasing number of live entertainment events is expected to propel the growth of the online event ticketing market going forward. Live entertainment events refer to musical events that are conducted in front of a live audience. An online event ticketing system allows attendees to register, and provides data to the event organizers on visitors making the reservation process more efficient and smoother for live events. For instance, Live Nation Entertainment, a US-based concert management company, hosted 12,500 events in the second quarter of 2022 itself which was 2500 more shows as compared to the whole of the 2019 year. The show attendance also hit 33.5 million which was a 20% increase as compared to 2019’s 27 million. 100 million tickets were sold through July 2022 while the number was only 74 million in 2019. As a result, the increasing number of live entertainment events is driving the growth of the online event ticketing market.

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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

Product innovations are a key trend gaining popularity in the online event ticketing market. Major companies operating in the online event ticketing market are introducing innovative products such as the TicketMint Ticketing System to sustain their position in the market. For instance, in November 2022, TicketMint, a US-based online ticketing company, launched TicketMint Ticketing System, a world’s first fraudulent free ticketing system. The new ticketing system uses Blockchain technology to allow event organizers to issue uniquely numbered and time-stamped tickets that would help the artists avoid forgery and counterfeit ticketing.

The online event ticketing market report table of contents includes: