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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global online movie ticketing service market size is estimated to grow by USD 8.83 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.44% during the forecast period. Growing popularity of global box office is driving market growth, with a trend towards increasing focus on paperless transaction. However, rising film piracy poses a challenge. Key market players include 360 Ticketing, Atom Tickets LLC, Big Tree Entertainment Pvt. Ltd., Moviefone Media LLC, Carnival Films Pvt. Ltd., Cinemark Holdings Inc., Cineplex Inc., Comcast Corp., Dalian Wanda Group, ELAN Group, Zoonga, JustTickets Pvt. Ltd., Maoyan Entertainment, One97 Communications Ltd., Ticket New, PVR Ltd., Tao Piao Piao, V Celluloids, VOX Cinemas, and VUE INTERNATIONAL.
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Online Movie Ticketing Service Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 – 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market growth 2024-2028 |
USD 8837.9 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.4 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, UK, Germany, and Japan |
Key companies profiled |
360 Ticketing, Atom Tickets LLC, Big Tree Entertainment Pvt. Ltd., Moviefone Media LLC, Carnival Films Pvt. Ltd., Cinemark Holdings Inc., Cineplex Inc., Comcast Corp., Dalian Wanda Group, ELAN Group, Zoonga, JustTickets Pvt. Ltd., Maoyan Entertainment, One97 Communications Ltd., Ticket New, PVR Ltd., Tao Piao Piao, V Celluloids, VOX Cinemas, and VUE INTERNATIONAL |
Market Driver
The global online movie ticketing service market is experiencing significant growth due to the increasing emphasis on paperless transactions. Governments worldwide are promoting digital transactions to reduce deforestation and environmental pollution. Telecom and banking organizations have adopted digital platforms for monetary transactions, leading to the proliferation of e-tickets for movies. Viewers can now book tickets at their convenience and receive them via messages or emails, eliminating the need for physical tickets. This trend is expected to continue, contributing positively to the growth of the online movie ticketing service market.
The online movie ticketing service market is currently thriving, with significant industry players like BookMyShow, MovieTickets.com, and Fandango leading the charge. The trend towards rapid digitization and urbanization, along with the adoption of smartphones and increased internet usage, have fueled the market’s growth. Consumers appreciate the ease and convenience of purchasing tickets online, especially during traffic jams and extended working hours. Looking ahead, the market is anticipated to expand further with the development of new technologies, such as improved websites and shopping applications, faster delivery times, and convenient payment options. International producers and suppliers are also entering the market, increasing competition and driving innovation. New laws and regulations may impact the market, but the overall future prospects remain positive. As the market grows, investment requirements are also rising, with retailers focusing on expanding their product offerings, improving customer experience, and offering door delivery and home delivery options. The convenience of online shopping has become a staple for many consumers, and movie ticketing services are no exception. Despite the challenges, the market’s profit margins are expected to remain strong, making it an attractive investment opportunity.
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Market Challenges
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Segment Overview
This online movie ticketing service market report extensively covers market segmentation by
1.1 Mobile devices- The online movie ticketing service market is a significant segment in the entertainment industry. It allows customers to book movie tickets from the comfort of their homes or on-the-go using smartphones. Major players in this market include BookMyShow, Paytm, and IN Oxigen. These companies offer various features like multiple payment options, seat selection, and discounts to attract customers. The market’s growth is driven by increasing internet penetration, growing smartphone usage, and the convenience it provides to consumers.
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Research Analysis
The Online Movie Ticketing Service Market has experienced significant growth in recent years, driven by the widespread use of smartphones, Internet, and digital ticketing solutions. Consumers can now easily select, reserve, and purchase movie tickets from the comfort of their mobile phones, laptops, tablets, or PCs. Moviegoers can access trailers and other movie information on third-party websites and Internet portals, streamlining the movie-going experience. The film industry has embraced this trend, with current trends including expansion strategies and partnerships with significant industry players. Anticipated future changes include the integration of biometric identification and contactless payment systems. International producers are also entering the market, making it a dynamic and competitive landscape.
Market Research Overview
The Online Movie Ticketing Service Market is experiencing significant growth due to the increasing use of smartphones and the Internet for movie ticket selection, reservation, and purchase. Digital ticketing solutions and e-commerce platforms are becoming increasingly popular among movigoers, with tech giants initiating various initiatives to enhance user experience. Credit card payments and mobile apps offer convenience and personalization based on location, interests, and usage patterns. Technological advancements such as laser projection systems and high-speed internet connectivity (2G, 3G, 4G, LTE) are driving the market. The film and entertainment industry’s economic growth in emerging economies and economic areas, as well as mergers and acquisitions, collaborations, and strategic alliances, are contributing to the market’s expansion. The current situation is marked by rising investment requirements, developing technology, and new laws. Anticipated future changes include increased consumer interest in movies and entertainment, disposable income, and online transactions. The mobile segment, user-friendly interfaces, and mobile applications are current trends, with significant industry players focusing on expansion strategies and international producers and suppliers playing a crucial role. The current industry turmoil and current trends indicate that the market for online movie ticketing services will continue to grow in the future, with significant opportunities for innovation and growth.
Table of Contents:
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 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/
SOURCE Technavio
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