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NEW YORK, April 15, 2022 /PRNewswire/ — The global secondary tickets market size is expected to increase by USD 2.24 billion between 2020 and 2025. The market observed a YOY growth of 2.67% in 2021 and the growth momentum is expected to accelerate at a CAGR of 7.87% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
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The global secondary tickets market is fragmented. The market is characterized by the presence of several established vendors. Vendors are competing on various aspects such as service differentiation and pricing. Some vendors are focusing on M&A to increase their competitive advantage. Technavio identifies Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, Ideabud Inc., Live Nation Entertainment Inc., SeatGeek Inc., Ticket City Inc., TickPick LLC, TiqIQ LLC, Viagogo AG, and Vivid Seats LLC are some of the dominant players in the market.
The rising popularity of sports events will be driving the growth of the market. There has been a significant rise in the popularity on various sports such as NFL, Fédération Internationale de Football Association (FIFA) World Cup, MLB, National Hockey League (NHL) , National Collegiate Athletic Association (NCCA) league, and the UEFA Champions League. Also, the rising number of viewers for such events is increasing the sales of tickets for sports events. The rising popularity of various events is driving many organizations of sports events to have direct tie-ups with secondary ticket providers. For instance, in June 2019ATP Tour announced that the resale of tickets for the 2019 and 2020 Nitto ATP Finals at The O2 in London would be through an exclusive partnership with AXS Group and its platform AXS Official Resale. Many such factors are increasing the sales of tickets, thereby driving the growth of the market.
In addition, the growth in online secondary ticketing platforms and difficulty in obtaining refunds for primary tickets will offer immense growth opportunities. However, the rise in fraudulent activities, increasing initiatives among artists against sales of secondary tickets, and enforcement actions on secondary ticket vendors will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Secondary Tickets Market 2021-2025: Segmentation
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