Increasing consumer disposable income and rising spending on entertainment are the major drivers for the secondary ticket market. The Global Secondary Ticket Market was valued at US$ 1510.5 million in 2020, and it is expected to reach US$ 2792.5 million by 2027, with a CAGR of 9.3%, during the forecast period.
Secondary Ticket Market is a marketplace where buyers and sellers resell the tickets through legal or illegal methods. Over the last few years, the global secondary ticket market has gone through some unprecedented changes. The major factor driving the market are increasing disposable income and expenditure on entertainment. Factors such as growth in an economy, improving the standard of living, and changing consumers’ lifestyles are also fueling the growth of the secondary markets in developing countries.
However, the secondary ticket market is also showing growth because of the increasing popularity of sports events, concerts performing, arts, and movies. The growing passion for the events like ICC Cricket World Cup, Olympic games, Super Bowl, FIFA World Cup, IPL, and many more have resulted in an increase in overall ticket sales. In addition, the promotion of these events has helped in triggering the market growth. With the growing number of events, many secondary ticket vending companies are emerging all across the globe. Many additional benefits such as loyalty offers, rewards programs, discounts, and curated sports packages offered on these platforms are attracting customers and hence, boosting the market’s growth.
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Points Covered in this report are:
To share detailed information about the key factors such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors, etc.
To study and analyze the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Players covered in the Secondary Ticket Market report is:
- StubHub
- Ticketmaster
- Viagogo
- Vivid Seats
- TicketIQ
- RazorGator
- TickPick
- SeatGeek
- Alliance Tickets
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By Platform:
- Offline
- Online
By Event Type:
- Sports Events
- Concerts
- Performing Arts
- Movies
- Others
Secondary Ticket Market by Region Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
In terms of geography, The Asia Pacific region is expected to grow at a rapid pace owing to the presence of abundant natural resources like minerals, ores, among others, in countries like China, India, Australia, Malaysia, and other Asian countries. These countries carry out mining and construction activities to extract natural resources in the region. The construction industry of the region has started adopting Secondary Tickets for site inspection and for speeding up construction activities on site.
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Key Findings:
- Based on the platform, the online platform has shown tremendous growth trends and is expected to show similar trends during the forecast period.
- Based on event types, sporting events is expected to grow with a high growth rate during the forecast period
- Based on Regions, the North America region is dominating the global Secondary Ticket market in the year 2020
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