New York, June 19, 2023 /PRNewswire/—— Secondary Ticketing Market estimated to drop CAGR of 20.96% Between 2022 and 2027.The market size is expected to increase $50.14 billion. North America Estimated accounted for 47% Global market during the forecast period. Analysts at Technavio provide a detailed explanation of the regional trends and drivers influencing the market during the forecast period. North America is expected to hold a major share of the global secondhand ticket market owing to the increasing number of popular musicians, talent shows, sporting events, and bands in the region.In terms of income, the United States and Canada Is a major contributor to the regional secondary ticket market. Furthermore, the US holds the largest share of this market as it is supported by the largest media and entertainment industry in the world. As such, sporting events such as the NBA, MLB, and the Super Bowl are major revenue generators that will continue to proliferate and aid the growth of the global secondary ticket market. Comprehensive details about the market size for historical period (2017-2021) and forecast period (2023-2027)- View sample report
Secondary Ticket Market – Vendor Landscape
The used ticket market is fragmented; suppliers are competing with competitors and trying to gain a larger market share. The market is growing and the opportunity for new entrants cannot be ignored. Key suppliers have well-established economies of scale and market presence, and are often dependent on positioning technological advancements and product prices –The report provides a complete list of key vendors, their strategies and latest developments. buy report
Secondary Ticket Market – Market Dynamics
main driver & challenge-
The growth of online secondary ticketing platforms is significantly driving the market growth. Due to the ease of booking tickets on these platforms, the demand for online secondary ticketing platforms is increasing significantly. Using the online platform to book tickets can improve the efficiency of secondary ticket allocation. These platforms facilitate easy information exchange between buyers and sellers and reduce the time and cost required to obtain each resale ticket. Additional benefits offered on various online platforms to attract customers are expected to spur market growth. Some of the largest vendors in the global online second-hand ticket market have been focusing on strategic partnerships to allow fans to resell or buy second-hand tickets fairly and prevent overpriced tickets from being sold on unauthorized sites. Hence, these factors are likely to drive the growth of the global market over the forecast period.
The growing opposition of artists to the sale of second-hand tickets is the major challenge hindering the growth of the market. Dishonest practices such as ticket grabbing and overpricing have proliferated in global markets. However, most patrons typically pay more than face value for concerts, sporting events, and other types of events. Customers must pay for tickets with a credit card and pick them up at the concert venue, along with providing accurate identification, as some artists have gone paperless for all ticket transactions. These moves protect patrons and patrons from extortionate second-tier ticketing sites and exorbitant pricing. However, such initiatives may hamper the market growth and reduce the overall profitability of various secondary ticketing platforms during the forecast period.
The use of blockchain for ticketing is an emerging trend impacting the growth of the secondary ticketing market. The event ticketing market faces a number of significant challenges, including Fraud, Robots And Touts. Blockchain can be an effective tool to overcome these problems. For tier 2 ticketing providers, this blockchain technology provides efficient and cost-effective business operations. It makes the ticketing process more transparent and efficient through the entire value chain, from the artist or club to the buyer of the original ticket to the buyer of the resold ticket. Several businesses in the global market are investigating the potential of blockchain technology’s double-spending prevention feature, which can be used to prevent the creation of fake event tickets. Hence, the surge in the use of blockchain in ticketing is likely to reduce fraudulent activities and stimulate market growth for secondary tickets globally during the forecast period.
Technavio has identified key trends, drivers and challenges in the market which will help clients improve their strategies to stay ahead of competitors. – view sample report
Secondary Ticket Market-Company Profile
The Secondary Tickets Market report includes information on product launches, sustainability, and prospects of leading vendors including Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., 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., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc.
Secondary Ticket Market – Competitive Analysis
The report includes competitive analysis, a proprietary tool that analyzes and evaluates a company’s position based on its industry position score and market performance score. The competitive scenario classifies companies based on various performance indicators. Some of the factors considered include the company’s financial performance over the past few years, growth strategy, product innovation, new product launches, investments and market share gains, among others.
Secondary Ticket Market – Market Segmentation
This secondary tickets market report has extensive coverage by type (sports events, concerts, performing arts and movies), booking method (online and offline) and geography (North America, EuropeAsia-Pacific, South Americaand middle East and Africa).
Market share growth by Sports Events will be important during the forecast period. The global market is expected to be dominated by the sports events segment during the forecast period owing to the popularity of sports such as rugby, soccer, rugby, cricket, baseball, and tennis. Sporting events such as the Super Bowl, Major League Baseball (MLB), UEFA Champions League and the National Football League (NFL) saw a surge in attendance. Secondary ticket sales are also on the rise as attendance increases and season ticket holders drive sporting events. Also, they buy a subscription for a full season or part of a season, but they may not want to watch every game. By using the secondary ticketing market, such ticket holders are more willing to resell tickets to games and events they do not intend to attend. Hence, it will contribute to the growth of sports events in the global market during the forecast period,
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this North American Second Class Airfare The market is projected to grow at a CAGR of 12.53% between 2022 and 2027. The market size is expected to increase by USD 9,623.84 million. The report broadly covers the market segmented by event type (sports events, concerts, movies, and performing arts) and channel (online resale platforms and professional brokers). The growth of online secondary ticketing platforms is significantly driving the market growth.
this ticket market The market size is estimated to decline at a CAGR of 19.82% from 2022 to 2027. The market size is expected to increase by USD 201.02 billion. This ticket market report extensively covers market segmentation by type (sports events, movies, concerts and performing arts), source (primary and secondary) and geography (North America, EuropeAsia-Pacific, South Americaand middle East and Africa). Increasing adoption of marketing strategies to increase ticket sales is significantly driving the market growth.
Secondary ticket market scope
Growth Momentum and CAGR
Decelerating at a CAGR of 20.96%
Market Growth 2023-2027
Year-on-year growth in 2022-2023 (%)
North America, Europe, Asia Pacific, South America, and Middle East and Africa
Execute Market Contribution
North America 47%
US, Canada, China, UK and Germany
Leading suppliers, market positioning of suppliers, competitive strategies and industry risks
Main company profile
Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., 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., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc.
Parent Market Analysis, Market Growth Incentives and Barriers, Fast-Growing and Slow-Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis During Forecast Period
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Table of contents
2 Market Structure
3 Market Size
4 Historical Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Booking Mode
8 Customer Profile
9 geographical landscape
Top 10 drivers, challenges and trends
11 Supplier Profile
12 Supplier Analysis
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