The global online movie ticketing
services market size is expected to reach USD 28.86 billion by 2025,
registering a CAGR of 6.5% over the forecast period. Rising disposable income,
along with changing customer preference towards online movie bookings, are
primarily driving the growth.
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Increased efforts made by industry
players to make their website interfaces and mobile applications more
user-friendly have influenced market growth positively. Service providers are
focusing on redesigning their websites and smartphones applications to provide
improved features such as select-your-own seat and view-from-seats to improve
customer experience. Although online movie ticket sales through PCs currently
garner the highest revenue share, bookings made through mobile applications are
anticipated to lead the online movie ticketing services market over the
forecast period.
North America accounted for the largest
market share in 2018 and is expected to retain its dominance over the next six
years. This growth is characterized by the evolution of a wide range of
ticketing technologies in developed countries, such as U.S. Latin America is
expected to witness a substantial growth during the forecast period, due to the
shift of users towards digitized form of ticket booking. Asia Pacific is also
projected to register high growth over the next six years, accredited to the
well-established presence of renowned film industries in the region, which
results in audiences thronging to catch a glimpse of their favorite superstars
on big screens.
Further
key findings from the report suggest:
• Mobile segment is anticipated emerge
as the fastest growing platform, on account of the increasing adoption of
smartphones and utilization of mobile applications to conduct online
transactions
• Asia Pacific is expected to expand at
a CAGR of more than 8% over the next six years due to improved purchasing power
of people across developing nations such as India
• Key players operating in the online
movie ticketing services market include AOL Inc.; Atom Tickets LLC; Bigtree
Entertainment Pvt. Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Fandango; Inox
Leisure Ltd.; Movietickets.com; Mtime; and VOX Cinemas
• The players are facing tough
competition from startups and innovators. To improve their market positions,
companies focus on ways of expanding their presence and gaining a competitive
edge over the other companies through strategic initiatives such as mergers and
acquisitions and collaborative partnerships
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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