Latest News- Secondary Tickets Market in North America: Sporting events is expected to lead the Event Type segment during 2025-2029

The Secondary Tickets Market in North America is being driven by High popularity of sports events

The Secondary Tickets Market in North America is expected to grow at a CAGR of 18.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 19.97 billion. The secondary ticketing market in North America faces significant challenges, including ticket fraud and price gouging. Traditional methods for addressing these issues have proven ineffective. Enter blockchain technology, a shared ledger system that records digital transactions and solves complex business problems. By implementing blockchain, secondary ticketing companies can ensure efficient and cost-saving operations. This technology increases transparency and streamlines the ticketing process, benefiting all parties involved, from the artist or venue to the initial and reselling ticket purchasers. In the North American market, ticket touts often buy tickets in bulk from primary markets and resell them at marked-up prices. The adoption of blockchain can mitigate these unscrupulous practices, ensuring a fair and transparent ticketing ecosystem. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Event Type
  • Sporting events
  • Concerts
  • Movies
  • Performing arts
• Channel
  • Online resale platforms
  • Professional brokers
• Consumer
  • Individual consumers
  • Corporate buyers and event planners
  • Ticket scalpers and resellers
• Geography
  • North America
    • Canada
    • Mexico
    • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High popularity of sports events
• Growing adoption of marketing strategies to increase event ticket sales
• Advantage of secondary ticketing platforms over primary tickets

However, the market also witnesses some limitations, which are as follows:

• Rise in fraudulent activities
• Enforcement actions on secondary ticket companies
• High consumption of online content

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Market Scope in Secondary Tickets Market in North America Research Report

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Research Analysis Overview

The secondary ticket market in North America is a thriving industry, focusing on concerts and sporting events. Online platforms, such as resale markets, offer discounts and deals for consumers seeking tickets to exclusive events in the entertainment industry. Sponsorship spending, social media, sentiment analyses, and behavioral analytics shape this market. Blockchain technology, including licensed sellers and primary sellers, aims to combat price gouging by individual sellers, bots, scalpers, and automated software. Event ticketing encompasses theaters, performing arts, movies, and sporting games, with face value often surpassed in the secondary market. Event category segmentation and the use of technology, like blockchain, continue to evolve in this dynamic industry.

Market Research Overview

The secondary ticket market in North America, a segment of the larger leisure products industry, experiences significant growth due to the increasing popularity of online platforms for reselling concert and sporting event tickets. These digital marketplaces offer discounts and deals, attracting a large consumer base. Sponsorship spending on major events further fuels the demand for secondary tickets. The resale market's expansion aligns with the global trend in household durables market growth, which includes leisure products, driven by factors such as rising health club memberships and the increasing number of fitness clubs.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/