Global Online Movie Ticketing Services Market: An Overview
Set to chart a robust growth over the forecast period of 2019 to 2027, the global online movie ticketing services market is on an upward growth trajectory. It is significant to note here that not only is the market set to witness an increase in valuation owing to this but also that it will generate decent growth opportunities for players in the market. Multiple factors such as development and use of technology for convenience purpose are set to lead the market on to higher growth. However, it is pertinent to note here that COVID-19 crisis is creating a negative impact and might lead to a bitter aftertaste for market if players do not take required and drastic measure in the post pandemic world.
Global Online Movie Ticketing Services Market: Competitors Landscape
The fragmented vendor landscape of global online movie ticketing services market includes presence of both local as well as international players. Some of the notable players in the market include the following:
- Fandango
- Bigtree Entertainment Pvt Ltd.
- Atom Tickets LLC
- Movietickets.com
- AOL Inc.
- VOX Cinemas
- Mtime
- Inox Leisure Ltd.
- Cineplex Inc.
- Cinemark Holdings Inc.
- Big Cinemas
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The global online movie ticketing services market is witnessing its players dabbling with a host of growth opportunities, across the organic-inorganic spectrum. The landscape is rife with new developments – a result of these proactive measures taken by companies to stay ahead of competition in the market. Some of these include key alliances for better resource capability, market penetration, and technological advancement.
Global Online Movie Ticketing Services Market: Key trends and drivers
Market players have a key focus on identifying any trends and driver of growth in the market to ensure that no opportunities are lost. It is significant to note here that a plethora of such opportunities are keeping the global online movie ticketing market on an upward growth curve over the forecast period. A synopsis of analysis is provided below:
- A massive increase in disposable income is noted worldwide, leading people to look for entertainment and other leisure activities. This also placing convenience over everything else. A result of this shift is that a large number of people are warming up to the idea of online movie ticketing services.
- Another significant propeller of growth in the global online ticketing services market is improvement in technologies that support internet and development and use of apps. As number of smart phones and laptops increases and such services become accessible online, demand for online ticketing services grows significantly.
Global Online Movie Ticketing Services Market: Regional Analysis
Popularity of online transaction is growing massively and North America is set to capitalize upon high internet penetration and a large number of mobile phone users. As convenience of such services grows, demand would only grow further. Players in this region are on their toes to come up with more innovative solutions to tap into prospective customers. It is quite significant to note here that one of the most significant growth factors here is elimination of paper is essential to help the environment from further deteriorating and this knowledge is playing a crucial role in driving demand for online ticketing services in the region. Additionally, it is also worth noting here that notable growth at a steady pace would be noted in Asia Pacific region. New opportunities would arise in the Latin American region over the forecast period.
The online movie ticketing market is forecasted to grow by USD 13.72 billion by the year 2017 with a CAGR of 7.3%. Online movie ticketing industry has revolutionized the traditional ticket booking system and totally changed the consumer habits of buying movie tickets. The online movie ticketing market is experiencing continuous growth due to changing need for entertainment, penetration of internet, more awareness about online services, intensive advertising and many more.
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Some supporting factors which drive the market growth are: increasing digitalization, rising disposable income of consumers, internet services, frequent movie releases, and many more. This industry is facing some uncertain events that may occur at times and could be a barrier for the growth of online movie ticketing services. They could be: Cyber crime, fraudulent sites and lack of trust in online transactions. Trust can be built by refunding money if the transaction is not completed.
Moreover, providing digital 3D screens can attract a larger audience with consumers willing to pay more for a rich visual experience.
Some of the market players in this industry are BIG Cinemas, Bookmyshow.com, AOL MovieFone INC, Kyazoonga, movietickets.com and VOX Cinemas. In coming years, online movie ticketing services are expected to command a huge market share within the movie ticketing services market.
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