Digital ticketing for travel and events, an important e-commerce vertical and one that suffered a nearly complete shutdown during Covid, is expected to reach pre-pandemic levels next year, accord to a new report from Juniper Research. The U.K.-based research firm predicts digital ticketing transaction value to reach $1.4 trillion globally by 2027.
In Digital Ticketing: Competitor Leaderboard, Segment Analysis & Market Forecasts 2022-2027 ($), researchers found the value of digital events ticketing will exceed $230 billion in 2027, up 137 percent from just under $100 billion in 2022. Transaction value will grow as events move to contactless entry that improves “on-the-day” experiences and reduces costs, the report said. The research recommends that vendors offer added incentives, such as collectable digital ticket stubs minted as NFTs (Non-fungible tokens), to enhance the fan experience.
“Ticketing vendors must pursue strategies, such as account-based ticketing, where any payment type can be linked to a back-office account,” said research co-author Damla Sat. “By removing barriers, vendors will accelerate the digital transition in ticketing and hasten the onset of Mobility-as-a-Service.”