Secondary tickets Market Report by Technavio predicts USD 2.24 Bn growth -- Driven by the rising popularity of sports events

NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The secondary tickets market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the secondary tickets market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

The report on the secondary tickets market by Technavio expects the market size to increase at a CAGR of 7.87% and register an incremental growth of USD 2.24 billion between 2020 and 2025. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: rise in fraudulent activities and increasing initiatives among artists against sales of secondary tickets.

According to Technavio, the growth of the market is primarily driven by the rising popularity of sports events.

The popularity of various sports such as the NFL, Federation Internationale de Football Association (FIFA) World Cup, Major League Baseball (MLB), National Hockey League (NHL), National Collegiate Athletic Association (NCCA) league, and the UEFA Champions League has increased globally. The popularity of other tournaments such as the International Cricket Council (ICC) Cricket World Cup, the FIFA World Cup, and the Super Bowl, is also increasing among individuals. The growing viewership of these events is resulting in an increase in the sales of secondary tickets across the world, thereby driving the growth of the market.

"Growth in online secondary ticketing platforms and the difficulty in obtaining refund for primary tickets will further accelerate the growth of the market", says an analyst at Technavio.

The global secondary tickets market is fragmented by the presence of several established. Service innovation is expected to be a key trend in the market during the forecast period. For instance, Ticketmaster provides a Verified Fan scheme which ensures artists that their tickets directly reach their fans.

Competitors compete based on factors such as price, brand, and variety. Competition among the existing vendors is intense. Vendors compete on aspects such as service differentiation and pricing. Moreover, some companies are focusing on M&A to increase their competitive advantage. Such mergers and acquisitions (M&A) will eventually help vendors improve their market positioning and gain a competitive advantage in the global secondary tickets market during the forecast period.

The report breaks down the market into the following segments:

• Event type: sports events, concerts, performing arts, and movies
• Geography: North America, Europe, APAC, South America, and MEA

Based on the event type, the sports events segment is expected to create more revenue in the market. The segment is driven by the increasing popularity of sports events such as the National Football League (NFL), Major League Baseball (MLB), Union of European Football Associations (UEFA) Champions League, and Super Bowl.

In terms of region, North America will emerge as the dominant region, occupying 44% of the global market share. The regional market is driven by the increasing number of popular musicians, talent shows, sporting events, and bands.

The complete report on the global secondary tickets market offers detailed insights into the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The secondary tickets market report answers questions such as:

• Is the market structure fragmented or concentrated?
• What was the market size in 2020 and the forecast for the secondary tickets market through 2025?
• Which are the best product segment areas to invest in over the forecast period?
• What is the market share of dominant and strong vendors in the secondary tickets market?
• What are the inhibiting factors and the impact of COVID-19 on the secondary tickets market growth?
• What are the latest trends and regulatory frameworks in the secondary tickets market?

Got more queries? Speak to our analyst now

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Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
• Market segments
• Sports events - Market size and forecast 2020-2025
• Concerts - Market size and forecast 2020-2025
• Performing arts - Market size and forecast 2020-2025
• Movies - Market size and forecast 2020-2025

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Coast To Coast Tickets LLC
• CTS Eventim AG and Co. KGaA
• Ideabud Inc.
• Live Nation Entertainment Inc.
• SeatGeek Inc.
• Ticket City Inc.
• TickPick LLC
• TiqIQ LLC
• Viagogo AG
• Vivid Seats LLC

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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SOURCE Technavio