Global Ticket Market 2018-2022 | Growing Popularity of Digital Movie Screens to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Oct 4, 2018-- analysts forecast the global ticket market to grow at a CAGR of over 7% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global ticket market from 2018-2022. (Graphic: Business Wire)
Increasing number of sports events is one of the major trends being witnessed in the . There is an increase in interest in sports events such as the Olympic games, the FIFA World Cup, the Super Bowl, and the ICC Cricket World Cup, which has resulted in an increase in the sales of tickets. Sports events such as the UEFA Champions League, the Rugby World Cup, Formula 1, and Wimbledon are followed by millions of people. This has led to an increase in the number of sports events across the world. For instance, the success of the IPL, a T20 cricket league that was launched in 2008, led to the launch of similar leagues. Such developments are expected to drive the growth of the global ticket market.
According to Technavio analysts, one of the key factors contributing to the growth of the global ticket market is the growing popularity of digital movie screens:
Global ticket market: Growing popularity of digital movie screens
The popularity of digital movie screens is growing, as these screens provide viewers a high-quality audiovisual (AV) experience. They enrich the experience of watching 3D movies and movies with graphic-rich content. In 2017, the global penetration of digital movie screens was nearly 100% of the global screen footprint. The rising popularity of 4K cinema halls and the availability of 27,500 4K projectors across the world will enhance the experience of watching movies. The rising popularity of IMAX and 4DX formats will also enhance the experience of the audience. For instance, IMAX Corporation installed 165 IMAX movie screen system in 2017. Hence, the growing popularity of digital movie screens will drive the growth of the global ticket market during the forecast period.
According to a senior analyst at Technavio for research on media and entertainment services, “International markets are a vital component of the revenue generated by Hollywood movies. The growing popularity of Hollywood movies across the globe will lead to the growth of the global ticket market during the forecast period.”
Global ticket market: Segmentation analysis
The global ticket market research report provides market segmentation by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for close to 42% share, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA 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.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: ENTERTAINMENT EVENTS/CONCERTS
SOURCE: Technavio Research
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