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The North America secondary tickets market size is estimated to grow at a CAGR of 12.53% between 2022 and 2027. The size of the market is forecast to increase by USD 9,623.84 million. The growth of the market depends on several factors, including the high popularity of sports events, the growing adoption of marketing strategies to increase event ticket sales, and the advantage of secondary ticketing platforms over primary tickets.
Secondary Tickets Market Growth and Trends
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This North America Secondary Tickets Market forecast report extensively covers market segmentation by Event Type (sporting events, concerts, movies, and performing arts) and channel (online resale platforms and professional brokers). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The market share growth of the sporting event segment will be significant during the forecast period. Season ticket holders drive the sports events segment. They buy a subscription for the entire or part of the season and may not want to attend all the games. Thus, such ticket holders prefer using secondary ticket platforms to resell the game and event tickets that they do not intend to attend. This will help in driving the growth of the sports events segment in the secondary tickets market in North America during the forecast period.
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The sporting events segment was valued at USD 3,653.87 million in 2017 and continued to grow until 2021. Due to the popularity of sports such as football, basketball, baseball, hockey, and soccer, the sports events segment is expected to capture a major share of the secondary ticket market in North America during the forecast period. There has been an increase in the number of attendees for sports events such as the National Football League (NFL) and MLB. Thus, a rise in the number of attendees for such sports events is increasing the sales of secondary tickets. during the forecast period.
The North America secondary tickets market is experiencing significant growth, driven by the adoption of blockchain for ticketing.
Blockchain, a shared ledger technology, streamlines digital transactions and offers cost-effective solutions for secondary ticket vendors. It enhances transparency throughout the value chain, from the artist or club to the original ticket buyer and subsequent resellers. Additionally, blockchain aids in fraud prevention by tracking resellers and purchasers, with examples like Ticketmaster using artificial intelligence to identify genuine fans. The increasing implementation of blockchain in ticketing is expected to reduce fraudulent activities, contributing to the growth of the North America Secondary Tickets Market share.
The growth of the North America secondary tickets market is hindered by increased enforcement actions against vendors.
Unlawful activities have led to heightened proceedings in numerous state and local jurisdictions regulating ticket resales. Rules include refund requirements, bans on misleading domain names, and restrictions on software use to bypass security measures. In 2019, the Federal Trade Commission addressed these issues in a workshop, reflecting growing regulatory scrutiny. These actions adversely affect vendor reputations and pose operational challenges, significantly limiting market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Viagogo Entertainment Inc.-The company offers secondary tickets where customers when looking for tickets will also see a data-driven A to F rating for each ticket deal. Also, the company offers services for buyers and sellers of tickets for sports, concerts, theater, and other live entertainment events.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Secondary Tickets Market In North America Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 20.81% |
Market growth 2023-2027 |
USD 23.41 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
24.46 |
Regional analysis |
North America |
Performing market contribution |
North America at 100% |
Key countries |
US, Canada, and Mexico |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ace Ticket LLC, Anschutz Entertainment Group Inc., Coast To Coast Tickets LLC, eBay Inc., Eventbee Inc., Eventbrite Inc., Gametime United Inc., Ideabud LLC, Live Nation Entertainment Inc., Lyte Inc., On Location Events LLC, SeatGeek Inc., StubHub, Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Tixel Pty Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Event Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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