World News: 15:12 GMT Tuesday 22nd October 2019. [Technavio Research via Businesswire via SPi World News]
The global ticket market size is expected to post a CAGR of over 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global Tickets Market during 2020-2024 (Graphic: Business Wire)
The growing adoption of marketing strategies to increase ticket sales is one of the major reasons for the ticket market growth. The sales of tickets are increasing significantly, due to the growing popularity of sporting events and concerts. Moreover, vendors are increasingly adopting innovative marketing strategies to further increase ticket sales. Some of the highly used sales strategies include flash sales, early bird offers, access codes, and public discounts. Furthermore, vendors are adopting new technologies such as mobile applications to make tickets easily available for consumers.
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As per Technavio, the integration of analytics with online ticket platforms will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Ticket Market: Integration of Analytics with Online Ticket Platforms
The integration of analytics with online ticket platforms is identified as one of the key ticket market trends that will impact growth. The incorporation of analytics tools helps vendors in the ticket market to automate their services. Analytics also help in enhancing back-end operations, which further aids in reducing additional costs. The integration of analytics also helps in tracking and monitoring consumer preferences.
“Apart from the integration of analytics with online ticketing platforms, other factors such as the high utilization of social media, and the increasing popularity of e-sports tournaments will have a positive impact on the ticket market growth during the forecast period,” says a senior analyst at Technavio.
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Ticket Market: Segmentation Analysis
This market research report segments theby geography (APAC, Europe, North America, MEA, and South America), source (primary and secondary) and event type (sporting events, movies, concerts, and performing arts).
The North America region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. The growth of the ticket market share in North America can be attributed to factors such as the increasing box office collections, and the rising popularity of various sports events, such as the US Grand Prix, which was organized in October 2018.
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Some of the key topics covered in the report include:
Five Forces Analysis
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Business Wire: 15:12 GMT Tuesday 22nd October 2019
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