Latest News- Secondary Tickets Market: Sports events is expected to lead the Type segment during 2025-2029
The Secondary Tickets Market is being driven by Rising popularity of sports events
The Secondary Tickets Market is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 9.05 billion. In the secondary tickets market, dynamic pricing is a strategic approach employed by teams and event organizers to set flexible ticket prices based on current market demand. This pricing model allows for price fluctuations, influenced by factors such as holidays, player injuries, team records, day of the week, and weather forecasts. Despite these fluctuations, most organizations establish rules to prevent prices from deviating significantly from predetermined cut-offs. Dynamic pricing ensures optimal ticket pricing, maximizing revenue and catering to varying consumer demand.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Sports events, Concerts, Performing arts, Movies) Mode Of Booking (Online, Offline) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Secondary Tickets Market Research Report
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The secondary tickets market, where fans buy and sell tickets to sold-out concerts, big athletic events, and blockbuster theatrical plays, has seen a surge in demand due to limited supply. However, this market is riddled with fraudulent activities such as unfair competition, ticket scalping, and resale of tickets at exorbitant costs. Dishonest persons use automated software, bots, and deceptive advertising on third-party platforms to dupe sincere fans. Ethical concerns arise due to the risks of inflated prices, moral compromises, and breach of customer trust. Official channels for event participation are encouraged to ensure fairness and transparency.
The secondary tickets market, a segment of the larger leisure products industry, experiences significant demand during sold-out concerts and major athletic events. This market, however, is not without challenges. Unfair competition and fraudulent activities pose ethical concerns. Official channels, such as primary ticket sellers and event organizers, strive to maintain a level playing field and protect consumers from fraud. The global leisure products market, encompassing categories like sports equipment, musical instruments, and household durables, is projected to grow due to increasing health and fitness club memberships and the rising popularity of experiential events. Technavio estimates the market size based on combined revenues from manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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