According to a report by Grand View Research, Inc., global online movie ticketing service market is anticipated to value USD 40.66 billion by 2022. Growing requirement for convenience among consumers while booking movie tickets are anticipated to propel demand for online movie ticketing services during the forecast period (2012 to 2022). Such services are likely to offer paperless tickets to consumers and reduce overall costing for multiplexes and theaters.
Increase use of various advertising activities to promote movies among consumers can fuel market growth. Growing penetration of high speed internet services like broadband making it easy for consumers to book tickets online can augment growth of market. Rising convenience for consumers to book movie tickets while sitting anywhere and at any time can spur market growth. Advent of mobile applications by various service providers offering online movie tickets for android, windows, and iOS operating systems can stimulate market expansion. In addition, advantages such as discounts, seat availability, deals, and offers provided by these service providers can gain significant attraction among consumers. This factor can also boost market growth in the forthcoming years. Moreover, consumer’s readiness to purchase movie tickets online by paying extra charges and avoiding long queues can further drive market expansion.
However, rising cases of fake websites and deceitful activities can hamper market growth over the forecast period. Such activities can break consumer’s trust on online systems and exploit security and convenience related to internet services. In addition, additional charges impose on consumers while they are purchasing movie tickets from online platforms can also obstruct market growth during the forecast period.
Full Research Report On Online Movie Ticketing Services Market Analysis: www.grandviewresearch.com/industry-analysis/online-movie-ticketing-services-market
North America online movie ticketing services market revenue by platform, 2012-2022, (USD Billion)
The worldwide online movie ticketing services market can be segregated on the basis of platform and region. Based on platform, the market can be bifurcated into mobile and internet. In 2014, mobile platform accounted for market share equivalent to USD 4.5 billion. The segment is projected to witness substantial growth during the forecast period. Continual development of mobile applications offering online movie ticketing services can boost consumer awareness. In addition, various loyalty programs being offered by service providers to regular consumers can promote mobile platforms.
Regional segmentation includes North America, Europe Asia Pacific, Latin America, and Middle East & Africa. In 2014, North America dominated the market and accounted for market share equivalent to USD 4 billion. It is anticipated to maintain its dominance over the forecast period. Rapid technological advancements and increasing per capita income in countries like Canada and United States are expected to drive regional growth. United States is estimated to witness substantial growth during the forecast period. Rising disposable income and growing adoption of advanced technology among local residents can spur market expansion. In addition, shifting consumer preference towards easy ways of purchasing movie tickets can augment market growth during the forecast period.
In Asia Pacific, the market is anticipated to witness growth at CAGR of 14% from 2015 to 2022. The market is estimated to grow at similar pace attributed to availability of internet at affordable prices in countries like India, China, and Japan. Penetration of broadband services in developing countries and launch of advanced multiplexes are estimated to fuel market growth. In addition, growing adoption of smart devices among local consumers can also impel regional growth. Moreover, rising standard of living attributed to strong economic growth can stimulate market expansion in the forthcoming years.
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Latin America region is likely to grow at CAGR of 16% during the forecast period owing to rising purchasing power in countries like Mexico and Brazil. Supportive initiatives from technology giants and local governments to provide internet as basic amenity can foster market growth in this region.
Some of the leading companies operating in the market for online movie ticketing services are Big Cinemas, VOX Cinemas, BookMyShow.com, Vue Entertainment, and Movietickets.com. Most market players are expected to focus on new and innovative ideas related to offer additional entertainment and leisure to consumers. Thereby, they are likely to collaborate with banks and other financial institutes to develop offers that can gain traction among consumers.
Grand View Research has segmented the global online movie ticketing services market on the basis of platform and region:
Online Movie Ticketing Services Platform Outlook (Revenue, USD Billion, 2012 – 2022)
Internet
Mobile
Online Movie Ticketing Services Regional Outlook (Revenue, USD Billion, 2012 – 2022)
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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