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COVID-19: Significant Shift in Strategy - Event Tickets Market 2020-2024 | Use of Mobile Apps for Booking Tickets to Boost Market Growth | Technavio - Odessa American: News

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COVID-19: Significant Shift in Strategy - Event Tickets Market 2020-2024 | Use of Mobile Apps for Booking Tickets to Boost Market Growth | Technavio

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Posted: Monday, June 29, 2020 7:45 pm

LONDON--(BUSINESS WIRE)--Jun 29, 2020--

The event tickets market is expected to grow by USD 39.87 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200629005612/en/

Technavio has announced its latest market research report titled Global Event Tickets Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic -Request a free sample report of event tickets market

The introduction of 4G and 5G technologies have enabled end-users to access high-speed internet. This is changing consumer preferences and has also propelled the adoption of mobile apps for ticket booking. Some of the popular ticketing apps such as Eventbrite, Ticketbud, Paytm, and Eventbee have registered over a million downloads in various application stores. These apps help users to create, promote, and sell tickets for various events. Also, many ticketing service providers are developing and launching their mobile apps to enable their customers to easily login from any place to make bookings online. Many such factors are fueling the growth of the global event tickets market.

To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR40993

As per Technavio, the high utilization of social media will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Event Tickets Market: High Utilization of Social Media

Players in the market are increasing the use of social media tools for branding, marketing, broad-based knowledge management initiatives, and ticket selling. Networking platforms such as Facebook, LinkedIn, and Twitter help event organizers to explore new ways of marketing their events and movies and gain public feedback and opinions. This helps vendors to target their audiences with customized offers. Also, many ticket vendors are partnering with social media platforms to promote their business. For instance, SeatGeek Inc. (SeatGeek) signed up as a distribution partner with Facebook Inc. This allowed the company’s customers to buy tickets directly through Facebook. This ongoing trend is expected to have a positive impact on the growth of the global event tickets market during the forecast period.

“Integration of analytics with online ticket platforms and the increasing popularity of e-sports tournaments will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Event Tickets Market: Segmentation Analysis

This market research report segments the event tickets market by sources (primary and secondary), event types (sporting events, concerts, Performing arts, and Others), and Geographic Landscape (APAC, Europe, MEA, North America, and South America).

The North America region led the event tickets market in 2019, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, North America is expected to register the highest incremental growth due to the increasing demand for live performances and concerts in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200629005612/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD: UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS GENERAL SPORTS SPORTS ENTERTAINMENT COMMUNICATIONS EVENTS/CONCERTS OTHER ENTERTAINMENT SOCIAL MEDIA

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 06/29/2020 08:45 PM/DISC: 06/29/2020 08:45 PM

http://www.businesswire.com/news/home/20200629005612/en

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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