LONDON--(BUSINESS WIRE)--The secondary tickets market size is expected to post a CAGR of almost 9% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growth in online secondary ticketing platforms is one of the major reasons for the secondary tickets market growth. The popularity of online secondary ticketing platforms is growing significantly as it helps in easily connecting buyers and sellers and thus, increasing the allocative efficiency of tickets. In addition, the online secondary ticketing platforms provides convenience in booking tickets and minimizes the time and expenses associated with the purchase of each resold ticket. Moreover, market vendors are offering various deals and discounts on their online ticketing platforms to attract more customers, which will drive market growth during the forecast period.
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As per Technavio, the use of blockchain for ticketing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Secondary Tickets Market: Use of Blockchain for Ticketing
The use of blockchain for ticketing has been identified as one of the key secondary tickets market trends that will drive market growth. The adoption of blockchain is increasing significantly as it helps in making the ticketing process more transparent and efficient throughout the value chain. Blockchain keeps track of buyers and sellers in the secondary ticket market, thereby preventing fraud by scalpers, bots, and touts.
“Apart from the use of blockchain for ticketing, other factors such as the adoption of dynamic pricing, and the increasing implementation of verified fan schemes will have a positive impact on the secondary tickets market growth during the forecast period,” says a senior analyst at Technavio.
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Secondary Tickets Market: Segmentation Analysis
This market research report segments the secondary tickets market by event type (sports events, concerts, performing arts, and movies) and geography (APAC, Europe, MEA, North America, and South America).
North America led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. The growth of the secondary tickets market share in North America can be attributed to several factors such as the increasing number of popular musicians, talent shows, sporting events, and bands in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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