Connect with us

Technology

Secondary Tickets Market size is set to grow by USD 132.1 billion from 2024-2028, Rising popularity of sports events boost the market, Technavio

Published

on

NEW YORK, July 3, 2024 /PRNewswire/ — The global secondary tickets market size is estimated to grow by USD 132.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 34.25% during the forecast period. Rising popularity of sports events is driving market growth, with a trend towards adoption of dynamic pricing. However, growing consumption of online content poses a challenge. Key market players include Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Secondary Tickets Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 34.25%

Market growth 2024-2028

USD 132.1 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

26.97

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 44%

Key countries

US, UK, Canada, China, and Germany

Key companies profiled

Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc.

Market Driver

In the secondary tickets market, dynamic pricing is a popular strategy used by teams and event organizers to set flexible prices based on current demand. This approach allows ticket prices to fluctuate based on factors such as holidays, injuries, team records, day of the week, and weather forecasts. By implementing dynamic pricing, these entities can recover revenue that would otherwise go to scalpers or third-party vendors, reducing ticket touting. Dynamic pricing also helps undercut secondary prices, forcing scalpers to lower their own prices and bringing exchange prices closer to face value. Although this strategy decreases buying volume and profit margins in secondary markets, it effectively combats fraudulent activities and overpricing. Notable secondary ticket vendors employing dynamic pricing include Live Nation Entertainment and TiqIQ. 

The secondary ticket market continues to be a significant trend in the events industry. With the increasing popularity of concerts, sports, and other live events, the demand for secondary tickets has grown. Companies offer various platforms for fans to buy and sell tickets, providing convenience and flexibility. Events like the Super Bowl, Coachella, and the World Cup generate high demand for secondary tickets. The use of digital platforms and secure payment methods has made the process more efficient and trustworthy. However, concerns around ticket prices and authenticity remain. Consumers must exercise caution and ensure they purchase tickets from reputable sources. The market for event tickets is expected to continue growing, offering opportunities for businesses to innovate and provide better services to customers. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global secondary tickets market faces challenges due to the rise of online content consumption. In 2021, a significant increase in Internet speeds and affordable data plans led to a surge in online streaming of live events and movies. In the US, over 70% of adults watch weekly online videos, preferring long-form content. Media companies partner with tech providers to expand their online platforms, renewing and adding seasons to successful shows. This trend negatively impacts the secondary tickets market, particularly for sports events and movies, during the forecast period.In the secondary ticket market, one of the significant challenges is the issue of authenticity and reliability. Fraudulent tickets can be a major concern for both buyers and sellers. Another challenge is the high demand for popular events, leading to exorbitant prices for tickets. This can create a disparity between the face value and the market price. Additionally, the lack of a centralized platform for ticket sales can make it difficult to ensure fair pricing and prevent price gouging. Furthermore, the convenience of online ticket sales comes with its own set of risks, such as cybersecurity threats and identity theft. Lastly, the time difference in ticketing for international events can pose challenges for buyers in different time zones. These issues require constant attention and innovative solutions to ensure a secure and transparent market for secondary tickets.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This secondary tickets market report extensively covers market segmentation by

Type 1.1 Sports events1.2 Concerts1.3 Performing arts1.4 MoviesMode Of Booking2.1 Online2.2 OfflineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Sports events- The secondary tickets market refers to the sale of tickets for events that have already been purchased by individuals but are now being resold. This market provides an opportunity for fans to purchase tickets to sold-out events. It operates through various platforms, including online marketplaces and brokers. The demand for secondary tickets is driven by the desire to attend popular events that may have limited ticket availability. The market functions based on supply and demand principles, with prices fluctuating according to the availability and desirability of the tickets. It’s essential to note that the purchase of secondary tickets may come with additional fees and potential risks, such as the possibility of counterfeit tickets.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The secondary tickets marketplace experiences significant demand during sold-out concerts, big athletic events, and blockbuster theatrical plays. This demand often leads to a spike in prices, making tickets unaffordable for sincere fans. The resale of tickets through unofficial channels and third-party platforms poses moral concerns and risks, including fraudulent activities, unfair competition, and deceptive advertising. Dishonest persons use automated software and bots to buy tickets in restricted quantities, leading to inflated prices and exorbitant costs. Ethical considerations and customer trust are crucial in this market, as fans seek convenience without falling victim to fraudulent scalpers.

Market Research Overview

The Secondary Tickets Market refers to the sale and purchase of tickets for events that have already been issued. This market operates independently of the primary market, which sells tickets directly from the event organizers or venues. The demand for secondary tickets arises due to various reasons such as unavailability of tickets in the primary market, high demand for popular events, or the convenience of purchasing tickets closer to the event date. The market for secondary tickets is regulated by various laws and regulations to prevent fraudulent activities and ensure fair pricing. The use of technology, such as mobile applications and websites, has significantly increased the accessibility and convenience of buying and selling secondary tickets. The market for secondary tickets is a dynamic one, with prices fluctuating based on various factors such as demand, supply, and the proximity of the event date.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSports EventsConcertsPerforming ArtsMoviesMode Of BookingOnlineOfflineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/secondary-tickets-market-size-is-set-to-grow-by-usd-132-1-billion-from-2024-2028–rising-popularity-of-sports-events-boost-the-market-technavio-302188210.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

Published

on

By

BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/niutech-at-the-forefront-us-china-circular-economy-forum-tackles-white-pollution-302254665.html

SOURCE Niutech

Continue Reading

Technology

Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

Published

on

By

SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

View original content to download multimedia:https://www.prnewswire.com/news-releases/global-ultrasound-institute-launches-gusi-fellowships-platform-elevating-point-of-care-ultrasound-education-302254656.html

SOURCE GLOBAL ULTRASOUND INSTITUTE

Continue Reading

Technology

Keuka College Notifies Individuals of Data Security Incident

Published

on

By

KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

View original content:https://www.prnewswire.com/news-releases/keuka-college-notifies-individuals-of-data-security-incident-302254623.html

SOURCE Keuka College

Continue Reading

Trending