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Sports Events Tickets Market (2023 - 2030)

2022-12-2100

Report Overview

The global sports events tickets market size was valued at USD 15.47 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.9% from 2023 to 2030. The significant growth in the popularity of sports events, such as the Olympics, the football world cup, and the NBA, is one of the major factors propelling the market growth. The growing popularity of athletes coupled with the rising premier league competitions further contribute to the growth of the sports event industry across the globe. Additionally, the significant adoption of digital tickets coupled with the rising penetration of smartphones across the globe is further projected to provide ample opportunities for the market. However, the uncertainty of ticket prices and lack of price management is expected to hamper market growth during the forecast period.

The COVID-19 pandemic affected the sports events tickets market, as most sports events were canceled and postponed across the globe in the year 2020. For instance, the National Basketball Association (NBA) and National Hockey League (NHL) both suspended their seasons in 2020. Major League Soccer (MLS) and Major League Baseball (MLB) delayed or suspended their seasons for (initially) 2-4 weeks and events of the Professional Golfers' Association (PGA) Tour were canceled. Several sports leagues altered their schedules in response to the pandemic. Therefore, these cancellations of sports events during the pandemic further negatively impacted the sales of sports event tickets across the globe.

As the COVID-19 pandemic spread across the globe in 2020, numerous major sporting events and matches (whether at an international, regional, and/or national level) were postponed or canceled to protect the health of athletes, spectators, and all others involved. Every element of sport was affected, from athletes, teams, and leagues to sponsorships, sports retail, hospitality, ticket booking businesses, and media coverage in 2020. The Olympic and Paralympic Games in Tokyo were rescheduled to 2021 from the scheduled 2020 date. Tokyo invested USD 26 billion in preparations before the event was called off in 2020 due to the pandemic. As a result, the Olympics took place in 2021 without a single spectator.

Type Insights

Based on type, digital tickets accounted for the largest share of 47.1% in 2021. Digital tickets are a convenient option for both, the organizers and the attendees. Moreover, the incorporation of technology in sports ticket sales can help curtail the black market, boost event security, generate more revenue due to ease in the payment process, and speed up ticket sales.

The online printable tickets segment is forecast to expand with a significant CAGR of 15.2% from 2022 to 2028. The growing trend towards e-tickets coupled with the growing penetration of smartphones is further projected to provide ample growth opportunities to the market. A significant rise in the use of the internet and the growing trend of using mobile applications for booking live event tickets online are projected to support the segment’s growth. Consumers have shown an inclination toward digital tickets to avoid crowd standing in large queues, which further propels the market growth.

Regional Insights

North America accounted for the largest revenue share of 51.28% in 2021 and is expected to continue its dominance during the forecast period. A significant rise in sporting events such as the National Basketball Association (NBA), the Super Bowl, the Daytona 500, and the US Open (Tennis) is expected to drive growth. The increasing popularity of sports events in North America is boosting growth.

A significant rise in sports events and activities such as the National Basketball Association (NBA), Super Bowl, Daytona 500, and US Open Tennis is expected to drive the market in the coming years. The rising number of viewers for such events is increasing the sales of tickets for sports events. For instance, a total of 1.3 million fans attended the 2020-2021 season of National Football League (NFL) games.

Asia Pacific is forecast to expand with the highest CAGR of 25.0% from 2022 to 2028. China and India are positively contributing to the growth of the market. The growing sports events industry, rising per capita income, the swelling middle-class population, and increasing disposable income are some of the factors contributing to the market growth in the region.

Moreover, significant growth in the popularity of international sports events such as the Cricket World Cup and Tokyo Olympics coupled with growing digitalization in China and India further propel the market growth. Moreover, the rising smartphone sales across China, India, and other emerging economies are further projected to provide ample growth opportunities.

Key Companies & Market Share Insights

The sports event ticket industry is always changing and updating. To stay head-on in the market, players tend to launch new strategies more frequently. Market players are focusing on increasing investments in R&D to innovate new and attractive solutions for consumers for ease of purchasing event tickets in the market. Moreover, major players are targeting new regions and demography to increase the sales of the products, by either entering the new market solely or by collaborating with local sports events companies across the globe.

Some prominent players in the global sports events tickets market include:

Sports Events Tickets Market

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