The process of reserving seats and tickets for various entertainment events, such as movies, through an internet portal is referred to as online movie ticketing service. This entails the use of a third-party website or software program that allows customers to reserve tickets in the theater of their choice. Bookings can be made via mobile phones, laptops, tablets, and PCs, with payments made either online or at the counter. Apart from that, it has a slew of additional advantages, like a vast selection of movies and theaters to choose from, as well as time and cost efficiency. It is expected to raise market's valuation, and as a result, it is anticipated to provide decent growth chances for market participants. Multiple reasons, including technological advancements and the usage of technology for convenience, are expected to propel the industry forward.
COVID-19 Impact Analysis
- The online movie ticketing service industry is expected to see a negative impact during the forecast period due to the spread of the COVID-19 pandemic. As a result of the government's lockdown to combat the virus, the film industry has seen a downturn.
- The entertainment industry has suffered economic losses as a result of the closure of physical businesses and theaters. As a result, the offline ticket booking store has closed. As things return to normal and business resumes, online ticket booking is anticipated to see a minor surge as a result of this increase.
Top Impacting Factors
- Industry companies' increased efforts to make their website interfaces and mobile applications more user-friendly, which have a beneficial impact on market growth. To improve client experience, service providers are focused on rebuilding their websites and smart phone applications to include improved features such as select-your-own-seat and view-from-seats.
- Although PC sales of online movie tickets now have the biggest revenue share, mobile app reservations are expected to lead the online movie ticketing services industry during the projected period.
- People look for entertainment and other leisure activities as their disposable income rises. This prioritizes convenience over all other considerations. As a result of this trend, many individuals have become more open to the idea of online movie ticketing services.
- Another major driver of the growth in the worldwide online ticketing services market is advancement in internet technology, as well as the creation and use of apps. As the number of smart phones and laptops grows, and more services become available online, the need for online ticketing services has increased dramatically.
Market Trends
Increase in use of digital platform to boost the market
Online transactions have become increasingly popular, and North America is poised to benefit from high internet penetration and a huge number of mobile phone users. As such services become more convenient, demand is expected to increase. Players in this region have worked hard to come up with new and unique ways to reach out to potential clients. It is worth noting that one of the most important growth factors here is the eradication of paper, which is critical to keeping the environment from deteriorating further, and this understanding is boosting demand for online ticketing services in the region.
It is even worth noting that the market in Asia-Pacific has grown at a steady pace. During the projection period, new opportunities are expected to emerge in Latin America. The online movie ticketing sector has completely transformed the traditional ticketing system and changed the way people buy movie tickets. The online movie ticketing business continues to rise due to change in entertainment needs, internet penetration, increased knowledge of online services, and aggressive promotion. Rise in digitalization, surge in disposable income of customers, internet services, frequent movie releases, and many other reasons drive the market expansion.
The mobile segment is expected to emerge as the fastest expanding platform due to the increase in usage of smart phones and the use of mobile applications to perform online transactions. The mobile market is likely to increase significantly. This is projected to be aided by the growth in usage of smart phones around the world, as well as the increase in demand for smart phone apps for movie ticket buying. In this area, high-speed internet connectivity is quite important. The transition from 2G to 3G, 4G, and LTE technologies is expected to boost internet usage.
Key Benefits of the Report
- This study presents the analytical depiction of the online movie ticketing services industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the online movie ticketing services market share.
- The current market is quantitatively analyzed to highlight the online movie ticketing services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed online movie ticketing services market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Which are the leading players active in the online movie ticketing services market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "Online Movie Ticketing Services" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Online Movie Ticketing Services" Market?
Online Movie Ticketing Services Market Report Highlights
| Aspects | Details |
 By Device |
|
 By Genre |
|
 By Application |
|
 By Region |
|
 Key Market Players | Cinemark Holdings, Inc., Inox Leisure Ltd.,, Bigtree Entertainment Pvt Ltd.,, Movietickets.com,, VOX Cinemas,, Cineplex, Inc.,, AOL, Inc.,, Mtime,, Atom Tickets LLC, |
Loading Table Of Content...
