Enjoy complimentary customisation on priority with our Enterprise License!
The secondary tickets market size is estimated to grow by USD 132.1 billion at a CAGR of 34.25% between 2023 and 2028. The market's growth is influenced by several key factors. Firstly, the increasing popularity of sports events is driving demand. Additionally, the expansion of online secondary ticketing platforms is making it easier for consumers to access tickets. Finally, the challenge of obtaining refunds for primary tickets is pushing more buyers towards secondary markets where they may find more flexible options. These elements together are shaping the market, highlighting the evolving landscape of ticket purchasing and the growing preference for online platforms. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
To learn more about this report, Download Sample PDF
The market share growth by the sports events segment is significant during the forecast period. The market refers to the trading of tickets for events, such as sold-out concerts, big athletic events, and blockbuster theatrical plays, outside of official channels. This marketplace is characterized by restricted quantity, spike in demand, and customer willingness to pay exorbitant costs due to convenience and moral concerns surrounding sincere fans being unable to attend. However, the market is not without its challenges.
Get a glance at the market contribution of various segments Download Sample PDF
The sports events segment was valued at USD 15.60 billion in 2018 and continued to grow until 2022. Fraudulent activities, including unfair competition and deceptive advertising, pose risks for unsuspecting consumers. Dishonest persons employ tactics like ticket scalping, resale of tickets, and use of automated software and bots to inflate prices and manipulate the market. Moral concerns surrounding these practices have led to increased scrutiny and calls for equitable ticket allocation in a user-friendly ecosystem. Technological changes, such as blockchain technology, are being explored to ensure ticket ownership and authenticity, as well as to prevent fraudulent acts and promote acceptable prices. Consumer complaints persist, highlighting the need for third-party platforms to prioritize customer trust and transparency in their operations. During the forecast period, this will contribute to the growth of the sports events segment in the global market during the forecast period.
The marketplace experiences significant activity during sold-out concerts, big athletic events, and blockbuster theatrical plays. This market is driven by the spike in demand and customer willingness to secure tickets through official channels or third-party platforms for convenience. However, fraudulent activities, such as ticket scalping and resale of tickets, pose ethical concerns. Dishonest persons employ automated software, bots, and deceptive advertising to inflate prices and manipulate the market. Moral concerns arise due to the risks of unfair competition and the potential for inflated prices, which may deter sincere fans from participating in events. The use of restricted quantity and moral dilemmas surrounding the secondary ticket marketplace necessitates a focus on customer trust and transparency.
Key Market Driver
The rising popularity of sports events is a key factor driving the market growth. The market for events such as sold-out concerts, big athletic events, and blockbuster theatrical plays has experienced a notable spike in demand due to the increasing number of participants worldwide. This market is driven by customer willingness and the convenience it offers, despite the presence of fraudulent activities and unfair competition. The restricted quantity of authentic tickets and the exorbitant costs associated with them have led to the emergence of secondary ticket marketplaces.
However, moral concerns surrounding ticket scalping and resale of tickets at inflated prices have arisen. Dishonest persons employing automated software, bots, and deceptive advertising on third-party platforms pose risks to consumer trust. Fraudulent acts, such as ticket counterfeiting and price manipulation, have become prevalent issues in this market. To address these concerns, ethical considerations and equitable ticket allocation are becoming increasingly important. Hence, such factors are driving the market growth during the forecast period.
Significant Market Trend
The adoption of dynamic pricing is one of the major market trends. In the market, the demand for event participation, such as sold-out concerts, big athletic events, and blockbuster theatrical plays, often outstrips the restricted quantity of tickets available through official channels. This situation can lead to exorbitant costs for sincere fans due to fraudulent activities, including ticket scalping and resale of tickets through third-party platforms.
Moreover, moral concerns arise when prices spike due to deceptive advertising and the use of automated software, bots, and dishonest persons to purchase tickets in bulk. The ethical implications of dynamic pricing in the market are complex. While the strategy allows prices to reflect current demand, it can also result in unfair competition and inflated prices that put participation in desirable events out of reach for many consumers. Hence, such factors are driving the market growth during the forecast period.
Major Market Challenge
Growing consumption of online content is a key challenge hindering the growth of the market. The market has experienced a significant surge in demand due to the increasing participation in events such as sold-out concerts, big athletic events, and blockbuster theatrical plays. With restricted quantities of authentic tickets available through official channels, the resale of tickets on secondary ticket marketplaces has become a common practice.
However, this market is not without its ethical concerns. Fraudulent activities, such as ticket scalping and deceptive advertising, have become prevalent, leading to inflated prices and unfair competition. Dishonest persons employ bots and automated software to buy tickets in bulk, reselling them at exorbitant costs. Hence, such factors are hindering the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Market represents a global platform where individuals and professional resellers/brokers buy and sell tickets for various event categories, including Concerts, Sports events, Theater performances, and Special events. This market's commanding presence is driven by the increasing urbanization and entertainment industry's growth, fueling the middle class's appetite for experiences. Sophisticated bots and algorithms are employed by some market participants to secure desirable tickets, often outpacing human buyers. Security measures are essential to mitigate potential fraud and ensure a fair market. Individual sellers and casual sellers contribute to the market's diversity, offering tickets at various price points. Hence, such factors are driving the market growth in North America 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.
Citizen Ticket Ltd. - The company offers a self-service event ticketing platform that provides online payments and ticket management tools. The key offerings of the company include secondary tickets for concerts, tours, sports teams, and family events.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 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.
The secondary ticket market refers to the sale and purchase of tickets for events, such as concerts, sports games, and theater performances, through channels other than the primary ticket seller. This market has gained significant traction in recent years due to the convenience and flexibility it offers to consumers. Tickets for events are in high demand, and consumers often face challenges in securing them through primary channels. Secondary ticket markets provide an alternative avenue for ticket buyers to acquire tickets, especially when the primary market is sold out. Channels for secondary ticket sales include peer-to-peer platforms, ticket brokers, and third-party marketplaces. The use of technology, such as mobile apps and digital wallets, has made the process of buying and selling tickets more convenient and efficient.
Moreover. demand for secondary tickets is driven by various factors, including last-minute ticket purchases, high-demand events, and the desire for better seats or exclusive experiences. The market is expected to continue growing, driven by increasing consumer awareness and the availability of technology platforms. Consumers are also attracted to the competitive pricing in the secondary ticket market, which can often be lower than the primary market. However, there are risks associated with buying tickets from unauthorized sellers, including the possibility of counterfeit tickets or overpricing. To mitigate these risks, consumers are advised to only purchase tickets from reputable and authorized sellers. Additionally, regulations and guidelines are being put in place to ensure the fairness and transparency of the secondary ticket market. In conclusion, the secondary ticket market plays an essential role in providing consumers with access to tickets for high-demand events. The market is driven by various factors, including convenience, flexibility, and competitive pricing. However, it is important for consumers to be aware of the risks and to only purchase tickets from reputable and authorized sellers.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 34.25% |
Market growth 2024-2028 |
USD 132.1 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
26.97 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, UK, Canada, China, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Mode of Booking
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.