Global Secondary Tickets Market Research Report 2023

Global Secondary Tickets Market

The global Secondary Tickets market is projected to grow from USD 1795.3 million in 2023 to USD 3027.6 million by 2029, at a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period.

Major factors driving the growth of the Secondary tickets Market are

The main factors driving the growth of the worldwide secondary ticket industry are the popularity of athletic events, the proliferation of online secondary ticketing platforms, and the usage of blockchain technology for ticketing.

Global Secondary Tickets Market Trends

The growth of online secondary ticketing platforms is one of the major factors driving the rise of the secondary ticket market. Online secondary ticketing service customers have sharply increased as a result of the consistent usage of smartphones, tablets, and other mobile devices. These platforms make it easier for buyers and sellers to interact, boost demand, and persuade customers to spend their money on the secondary ticket market, increasing the allocative efficiency for buyers and sellers. By facilitating speedier contact between buyers and sellers, secondary ticket sales platforms help buyers and sellers save costs and time spent on resale operations. The secondary ticket market is anticipated to develop as a result of this reason.

The growth of online secondary ticketing platforms is one of the major factors driving the rise of the secondary ticket market. Online secondary ticketing service customers have sharply increased as a result of the consistent usage of smartphones, tablets, and other mobile devices. These platforms make it easier for buyers and sellers to interact, boost demand, and persuade customers to spend their money on the secondary ticket market, increasing the allocative efficiency for buyers and sellers. By facilitating speedier contact between buyers and sellers, secondary ticket sales platforms help buyers and sellers save costs and time spent on resale operations. The secondary ticket market is anticipated to develop as a result of this reason. This factor is expected to drive the growth of the Secondary tickets Market

Due to its ability to give real-time comments about events through blogs and social networking sites, social media has grown to be a significant data source for many organizations. It will encourage efficient and economical audience engagement if sports event organizers employ social computing technology for marketing, information management, and general ticket sales campaigns. Vendors are researching new methods for marketing their most recent sporting events by signing up for social networking sites like Twitter and Facebook in order to get greater public feedback and thoughts. Market vendors are encouraged to integrate social media into their company operations of the growing importance of sentiment research and developments in behavioral analytics. They can learn about people's personalities and their involvement in current and past events through various channels.

Global Secondary Tickets Market Share Analysis

There are several significant players in the global secondary ticket market, including StubHub, Ticketmaster, TicketNetwork, and others. The top three competitors control over 45% of the global market.

Over 80% of the global market may be attributed to the two biggest markets, North America and Europe. because the area adopts new technology quickly, athletic events are held more often, and prominent players are present there. 

The online platform industry makes the most contribution to the market. The internet's swift uptake, the increase in smartphone use, and the music industry's unparalleled growth in live music events have all had a significant impact on the online secondary ticketing market during the past several years.

Sporting events are the main use, making up around 60% of utilization. Sporting events draw the largest crowds worldwide, which in turn fuels the industry's expansion. Billions of people attend significant local, national, and international events on these dates, bringing a large crowd.

Scope of Global Secondary Tickets Market Report