Secondary Tickets Market to witness market expansion of USD 50.14 Bn revenue through 2023-2027
The secondary tickets market is all set to become a billion-dollar market in making with forecasted revenue growth of USD 50.14 billion between 2022 and 2027. The market size is accelerating at a growth momentum of CAGR of 20.96%. The rising popularity of sports events, the growth in online secondary ticketing platforms, and the difficulty in obtaining a refund for primary tickets are all the determinants of this market expansion.
Our report captures the growth trajectory of the market and is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Request for a sample report today.
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Navigating through the growth drivers: The market is witnessing rising online secondary ticketing platforms, the convenience of booking tickets on these platforms, and the demand for online secondary ticketing platforms is significantly increasing; as these platforms facilitate the easy exchange of information between buyers and sellers and cut down on the time and costs needed to acquire each resold ticket.
Online service providers are promoting various offers and discounts on their online platforms in an effort to draw customers
For instance, TickPick, for instance, provides secondary tickets without any service charges
Market trends: When it comes to trends use of blockchain for ticketing is an emerging trend shaping the market growth as this technology ensures effective and cost-effective business operations for secondary ticket vendors, and also helps in overcoming these difficulties such as fraud, bots, and touts.
"As per our research, some businesses in the global market are looking into the potential of blockchain technology's double-spending prevention functionality, which can be used to stop the production of fake event tickets"
Fastest-Growing Segment in the Secondary Tickets Market will be the sports event section owing to the popularity of the sports. North America is estimated to contribute 47% to the growth of the global market during the forecast period.
There has been an increase in the number of spectators at sporting events like the Super Bowl, Major League Baseball (MLB), Union of European Football Associations (UEFA) Champions League, and National Football League (NFL). The sale of secondary tickets is increasing as attendance grows. Get a comprehensive report summary describing the market landscape in our data-backed report
Vendor Analysis: Market leaders worth mentioning in this industry are Ace Ticket LLC, Anschutz Entertainment Group Inc., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA,eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem. Order a free sample report today.
