Sports Events Tickets Market Projected To Reach USD 8.7 Billion By 2028


 San Francisco, 21 July 2022: The Report Sports Events Tickets Market Size, Share & Trends Analysis Report By Type (Digital Tickets, Online Printable Tickets, Paper Tickets), By Region, And Segment Forecasts, 2022 - 2028

The global sports events tickets market size is estimated to reach USD 18.7 billion by 2028, expanding at a CAGR of 16.5% from 2022 to 2028, according to a new report by Grand View Research, Inc. The key growth factors of the market include the significant rise in sports events and activities, such as National Basketball Association (NBA) and National Hockey League (NHL), Major League Soccer (MLS), and Major League Baseball (MLB) across the globe. Moreover, the rising digitalization and access to online media platforms for sports ticket booking are the other factors that propel the market growth.

The sports events tickets market experienced a significant downfall during the COVID-19 pandemic due to the cancellation of sports events across the globe. The market is mainly affected by rapidly changing conditions, which have compelled the government to impose a ban on all the activities that involve the social crowd. For instance, the delay of the Tokyo Olympics 2020, which cost Japan a loss of over billions, is one such instance to study the impact of loss on sports. Sports cancellations, delays, and suspensions, including the SXSW Music Festival cancellation, the Big 10, the Big 12, and others, further impacted the market.

The digital tickets segment of the type is forecast to register the highest growth rate of 17.3% from 2022 to 2028. The market is mainly driven by the growing trends towards easy and convenient access to sports events across the globe to avoid the crowd. Moreover, the growing usage of mobile applications to get digital tickets is coupled with the rising penetration of smartphones across the globe. In addition, easiness coupled with purchasing tickets through internet-enabled smartphones and tablets is further projected to contribute significantly to the sports event ticketing industry.

Europe accounted for a significant market share of around 20.0% in 2021. Well-developed countries such as Germany, the U.K., and France positively contributed to the market revenue. The high market share can be credited to the strong presence of large sports event organizing companies and ticket providers in the region and the long-existing demand for online tickets. Additionally, higher GDP, per capita income, and per capita spending on sports events and cultural activities in the European countries altogether result in strong sales of event tickets. 

Access Research Report of Sports Events Tickets Market @ https://www.grandviewresearch.com/industry-analysis/sports-events-tickets-market-report

Sports Events Tickets Market Report Highlights

  • Europe dominated the market in 2021 due to the strong and wide presence of the key players and long-standing demand for online ticket booking for sports events owing to high smartphone users in the region
  • The digital tickets segment of the type is expected to register a CAGR of 17.3% from 2022 to 2028. A significant rise in smartphone users coupled with the rising trend of e-tickets across the globe is expected to contribute to this growth

List of Key Players of Sports Events Tickets Market

  • Ace Ticket Worldwide, Inc.
  • AXS Group LLC
  • Bigtree Entertainment Pvt. Ltd
  • StubHub
  • Live Nation (Ticket Master)
  • Brown Paper Tickets, LLC
  • Razorgator, LLC
  • Ticketek Pty Ltd
  • SeatGeek, Inc.
  • Ticket City, Inc.
  • Vivid Seats LLC

Access Press Release of Sports Events Tickets Market @ https://www.grandviewresearch.com/press-release/global-sports-events-tickets-market

 

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