NEW YORK, Jan. 2, 2025 /PRNewswire/ — The global secondary tickets market size is estimated to grow by USD 9.05 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 8.4% during the forecast period.

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Region Outlook

North AmericaEuropeAsiaRest of World

1. North America – North America is estimated to contribute 28%. To the growth of the global market. The Secondary Tickets Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. In the geographic landscape of the secondary tickets market, fraudulent activities such as ticket scalping and the resale of tickets continue to pose moral concerns for sincere fans. Exorbitant costs, driven by dishonest persons using bots and automated software, create risks for consumers seeking acceptable prices. The global market for tickets, including concerts, sports events, theater performances, and special events, has become a commanding presence in the entertainment industry. Urbanization and digital platforms have expanded the market, making trips and experiences more accessible but also increasing the prevalence of deceptive advertising on third-party platforms. Technological changes, such as sophisticated bots and algorithms, have complicated security measures for individual sellers and professional resellers/brokers. Blockchain technology offers potential solutions through ticket ownership and authenticity, but consumer complaints persist due to inflated prices and the risks associated with automated scalping. Equitable ticket allocation and a user-friendly ecosystem remain elusive goals in this complex market.

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.

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Segmentation Overview

Type1.1 Sports events1.2 Concerts1.3 Performing arts1.4 MoviesMode Of Booking2.1 Online2.2 OfflineGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

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1.1 Fastest growing segment:

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.

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 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.

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Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor 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/

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SOURCE Technavio

NEW YORK, Jan. 2, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global third-party banking software market size is estimated to grow by USD 10.56 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  6.6%  during the forecast period. Growing use of digital payment solutions is driving market growth, with a trend towards incorporation of analytics into third-party banking software. However, issues related to data privacy and security  poses a challenge. Key market players include American Express Co., Bank of America Corp., Capgemini Services SAS, Capital Banking Solutions, Fidelity National Information Services Inc., Finastra, Fiserv Inc., HCL Technologies Ltd., Infosys Ltd., Intellect Design Arena Ltd., JPMorgan Chase and Co., Mambu BV, Nucleus Software Exports Ltd., Oracle Corp, Q2 Holdings Inc., SAP SE, Sopra Steria Group SA, Tata Consultancy Services Ltd., Temenos AG, The Goldman Sachs Group Inc., Wipro Ltd., and ZKAPITOL Technologies Ltd.,Microsoft Corporation; International Business Machines (IBM) Corporation; Oracle Corporation, Accenture plc; FIS. Inc.

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Market Driver

The banking industry is witnessing a shift in customer behavior, with an increasing preference for mobile devices and digital technologies to access banking services. This trend has resulted in a significant expansion of customer data for enterprises. To effectively utilize this data, third-party banking software with analytics is gaining popularity. These solutions offer benefits such as improved decision-making, risk reduction, enhanced customer insights, and performance optimization. Integration with CRM and other systems streamlines operations and enables smarter choices. Companies like Temenos AG provide analytics solutions with their retail banking software, featuring KPIs, pre-built models, applications, dashboards, reports, predictive analytics, and real-time data. This trend is expected to boost the demand for third-party banking software in the forecast period. 

The third-party banking software market is experiencing significant growth due to increasing demand for digital solutions. Cloud-based banking systems are trending, offering flexibility and accessibility. Components such as core banking, computes, and infotronic systems are essential for these solutions. Advanced features like real-time processing, security, and integration with other financial systems are key considerations. Banking institutions are adopting these solutions to streamline operations and enhance customer experience. The market is competitive with players offering customizable and cost-effective solutions. The future of banking is digital, and third-party software providers are at the forefront of this transformation. 

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 Market Challenges

The third-party banking software market faces challenges due to data privacy and security risks. Big Data and AI increase the vulnerability of enterprise data in IT infrastructure, particularly in cloud environments. Financial institutions are wary of potential misuse of customer information, leading to hesitance in adopting third-party software. This skepticism hinders market growth. Data security and privacy are paramount to prevent fraud and protect intellectual property.The third-party banking software market faces several challenges. One significant challenge is ensuring security and compliance with regulations, particularly in areas like customer identification and transaction tracking. Another challenge is keeping up with the latest technology trends, such as cloud computing and artificial intelligence, to offer innovative features and improve user experience. Additionally, integrating with various banking systems and ensuring seamless data transfer can be complex. Lastly, providing 24/7 customer support and handling queries efficiently is crucial to retain customers and maintain a good reputation.

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Segment Overview 

This third-party banking software market report extensively covers market segmentation by  

Type 1.1 Core banking software1.2 Omnichannel banking software1.3 Business intelligence software1.4 Wealth management softwareDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaApplicationEnd-use

1.1 Core banking software- The global third-party banking software market’s core banking segment is projected to expand due to retail banking’s growth. Government initiatives promoting bank account opening in countries like India boost retail banking, increasing the demand for core banking software among enterprises. Vendors, such as Temenos AG and Fidelity National Information Services Inc., respond by offering advanced systems. These solutions enable efficient application processing, reduce errors, and provide omnichannel access, catering to banking enterprises’ digital transformation needs.

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Research Analysis

The Third-Party Banking Software Market in the BFSI industry is experiencing significant growth due to the adoption of digital technology and cloud-computing services. This market includes software solutions for core banking systems, operational efficiency, risk management, wealth management, and business intelligence. These advanced analytical tools enable financial transaction tracking, bookkeeping, and omnichannel banking. Cloud computing, with its benefits of cost savings and scalability, is a major driver for the market. Big data analytics and encryption are essential components of these systems, ensuring information security and contributing to economic growth. Traditional methods are being replaced by computerized methods to enhance efficiency and productivity in commercial and retail banks.

Market Research Overview

The Third-party Banking Software Market refers to the industry that provides financial institutions with software solutions to manage their operations efficiently. These solutions include core banking systems, payment processing systems, treasury management systems, and customer relationship management systems. The market is driven by the increasing demand for digital transformation in the banking sector and the need for cost-effective and efficient solutions. The software enables banks to offer innovative services, improve customer experience, and comply with regulatory requirements. The market is expected to grow significantly due to the rising adoption of cloud-based solutions and the integration of artificial intelligence and machine learning technologies. The solutions offer features such as real-time transaction processing, advanced security, and seamless integration with other systems.

Table of Contents:

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

TypeCore Banking SoftwareOmnichannel Banking SoftwareBusiness Intelligence SoftwareWealth Management SoftwareDeploymentOn-premisesCloudGeographyNorth 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/

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SOURCE Technavio

NEW YORK, Jan. 2, 2025 /PRNewswire/ — The global automotive engineering service providers (esp) market size is estimated to grow by USD 12.09 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of over 9.8% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

Application 1.1 In-house1.2 Out-sourceProduct Type2.1 Powertrain2.2 Complete vehicle2.3 Electrical/electronics2.4 OthersGeography 3.1 Europe3.2 APAC3.3 North America3.4 South America3.5 Middle East and Africa

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1.1 Fastest growing segment:

The Automotive Engineering Service Providers (ESP) Market encompasses mechanical and electrical engineering, leveraging lightweight materials and digital vehicles to enhance connectedness and software development. ESPs address cybersecurity and data analytics concerns, ensuring vehicle safety and fuel efficiency through expertise in electric motors and battery management systems. Sensor fusion engineering solutions facilitate designing, developing, fabricating, and assembling mechanical, electrical, electronics, and software elements for automobiles. ESPs cater to stringent safety regulations in the automotive engineering field, delivering improved quality, safe structured vehicles, and convenient driving experiences for models and vehicles, including commercial ones. With the advent of 5G networks, ESPs are poised to revolutionize the industry through engineering solutions for autonomous and electric vehicles. Investment pockets lie in the areas of safety elements, luxury vehicles, and the integration of advanced technologies, such as 5G networks and autonomous driving systems.

Analyst Review

The Automotive Engineering Service Providers (ESP) market encompasses the design, development, fabrication, and integration of mechanical, electrical, and electronics elements for commercial vehicles. This includes the implementation of 5G networks and advanced technologies such as autonomous and electric vehicles. ESPs focus on enhancing vehicle efficiency through the use of lightweight materials and fuel-efficient components. Collision avoidance sensors and connection sensors are essential mechanical and electrical features that ESPs incorporate into digital and connected vehicles. Software engineering and cybersecurity are critical aspects of ESP services, ensuring data analytics and secure communication between vehicles and infrastructure. The ESP market continues to evolve, offering innovative solutions to meet the demands of the automotive industry.

Market Overview

The Automotive Engineering Services Market encompasses a diverse range of offerings, including vehicle design, development, testing, and consulting services. These solutions cater to various sectors, such as body and chassis, powertrain, electronics, and software. ESPs employ cutting-edge technologies like CAD, CAE, and CAM to create efficient, safe, and eco-friendly vehicles. They also focus on regulatory compliance, ensuring that vehicles meet stringent safety and emissions standards. Additionally, ESPs provide services related to vehicle connectivity, autonomous driving, and electric powertrains, reflecting the industry’s ongoing evolution. The market is driven by factors like increasing vehicle production, growing demand for advanced technologies, and stringent regulations.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor 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/

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SOURCE Technavio