Global Online Event Ticketing Market Ascends Steadily at a CAGR of 7.8%

E-tickets signified a radical change from conventional event ticketing practices for several events. The majority of venue counters today encourage clients to purchase tickets in advance online. In recent years, the relevance of online event ticketing has increased due to the growing millennial generation, who prefers staying at home than physically attending the venue. Most concert, movie, and sporting event tickets are acquired online. Online ticketing refers to purchasing event tickets through online channels, such as interactive voice response (IVR), kiosks, transaction sites, private labeled web pages, and any other online technology, as well as all connected features, functionality, promotions, marketing, and advertising. In addition, internet event booking systems include all pertinent event information, including ticket prices, seating configurations, and event locations. The popularity of internet ticketing has increased due to the accessibility and adaptability of mobile devices like smartphones. Market Dyanmics Surge in Music Events Fuel the Online Event Ticketing Market The music events segment dominates the online event ticketing business, with profitable sales for all music-related events, including concerts, festivals, musicals, music shows, and operas. According to Ticketmaster, a major online ticketing site, approximately 80% of recent GTV growth can be attributed to music. Due to the growth of aspiring musicians, the popularity of music talent shows, and the availability of music streaming services for performers, concerts are the primary source of income for online ticket sellers. The cost of attending a concert increases with the cost of tickets. Despite the widespread use of fake and duplicate tickets and the continual price increase, customers continue to pay higher prices, as evidenced by the growing number of users. Additionally, the younger generation who is enthusiastic about music is attracted to music events by the performances of domestic and international singers. For instance, after repeatedly postponing the 2020 edition due to the epidemic, the Belgian EDM festival Tomorrowland said in February 2022 that it will still hold its annual event. It's tough to forecast whether attendance will surpass the previous record of 400,000 spectators in 2019, even though concertgoers in Europe may be watching the news with curiosity. Such activities will raise the demand for online concert tickets in 2022. In 2020, worldwide live events generated approximately USD 1.2 billion. Market revenues are expected to rise over the coming years since significant events that did not occur during the pandemic will shortly happen. The online ticketing platform "Granted," which had a preliminary launch in 2021, intends to revolutionize the ticketing industry in multiple ways. The company not only sells performance tickets to fans but also arranges charity auctions and VIP experiences for them, such as meet-and-greets with athletes and artists. NFTs, or non-fungible tokens, have been produced by Granted for athletes like NFL running back Saquon Barkley to accept as remuneration. These aspects will encourage market expansion. Untapped Growth Opportunities Amid Increasing Paperless Transaction Due to the cumulatively detrimental effects of pollution on the ecosystem, governments worldwide are concentrating on reducing environmental pollution and deforestation. This has led governments worldwide to encourage digital transactions to reduce paper use and save trees. Many banking institutions and telecom service providers use online platforms for financial transactions. The expanding use of paperless transactions will thus enable the capacity to create electronic tickets disseminated via emails or text messages. Due to the increasing popularity of the internet, several companies have diligently developed cutting-edge consumer engagement tactics. Service providers can use e-tickets for various purposes, including coupons for online shopping and concert or sporting event tickets. The widespread use of e-tickets denotes a change in purchasing traditional tickets. Regional Insights North America will command the market, expanding at a CAGR of 7.5% over the forecast period. Market expansion in the region is mainly attributable to the United States and Canada. Due to the convenience and accessibility of purchasing movie tickets, mobile movie ticketing services are predicted to become a substantial source of revenue in North America throughout the forecast period. Purchasing event tickets in advance from the comfort of one's own home has replaced traditional ticketing at venue counters. The increasing popularity of buying tickets via smartphones and tablets can be attributed to the operation's perceived convenience and flexibility and the service providers' efforts to develop user-friendly mobile interfaces. Purchasing event tickets over the phone or in person on the day of the event has grown less common due to technological advancements that have made purchasing tickets online quick and simple. When the economy rebounds, people will likely be more inclined to spend money on pricey sporting events and concerts. As more venues and customers adopt a fully internet-enabled digital ticketing experience, the steady trend toward online transactions will also assist the industry's long-term growth. During the forecast period, the use of mobile phones in the region, especially with the development of mobile applications by travel booking companies, is likely to increase the number of mobile bookings. Europe is likely to generate USD 13 billion by 2030, growing at a CAGR of 7%. As disposable income increases, so do discretionary entertainment and recreation expenditures. In addition, a substantial element of the entertainment industry is the film industry, which may enhance market demand in the coming years. Estonia had the highest rate in Europe in 2020, with 1.4 admissions per person. Denmark ranked second with 1.2 admissions per individual. The vast majority of Reel Cinemas tickets are now purchased in advance via a website or app, representing one of the most significant consequences of the epidemic. To reduce paper waste, more theaters and exhibitors are beginning to accept m-tickets and e-tickets. The barcodes or QR codes on these tickets are scanned to verify their validity. Numerous providers provide loyalty programs to mobile subscribers to retain consumers more often. Consequently, the number of online ticket suppliers is expanding. Key Highlights The global online event ticketing market had a revenue holding of USD 28.49 billion in 2021. It is expected to reach USD 52 billion by 2030, growing at a CAGR of 7.8% during the forecast period (2022–2030). By application, the global online event ticketing market includes Movies, Sports, Music Events, and Others. The Music Events section is expected to hold the largest market share, growing at a CAGR of 8.51% by 2030. By platform, the global online event ticketing market includes Desktop and Mobile. The Mobile section is projected to grow exponentially and hold the largest market share over the forecast period. By region, the global online event ticketing market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America holds dominion over others. Competitive Players in the Market  Bigtree Entertainment Pvt. Ltd Cinemark Holding Inc. Kyazoonga Ticketmaster Entertainment LLC Fandango Media LLC (Comcast Corporation) Viagogo Entertainment Inc. TickPick LLC Ticketek Pty Ltd com Inc. Market News In 2022, major e-commerce company Flipkart is collaborating with online ticketing operator BookMyShow to expand the scope of its transactional offerings. Global Online Event Ticketing Market: Segmentation By Application Movies Sports Music Events Other Applications By Platform Desktop Mobile By Regions North America Europe Asia-Pacific Latin America The Middle East and Africa