Event Tickets - Vietnam

Vietnam

Highlights

Revenue in the Event Tickets market is projected to reach US$170.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.14%, resulting in a projected market volume of US$192.80m by 2028.
The Sport Events market has a projected market volume of US$86.92m in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$40.68 in 2024.
In the Event Tickets market, the number of users is expected to amount to 4.3m users by 2028.
User penetration in the Event Tickets market will be at 4.2% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Vietnam are increasingly seeking unique and memorable experiences, and attending live events has become a popular choice. This trend is driven by a growing middle class with higher disposable incomes and a desire for entertainment and cultural experiences. Additionally, the younger generation in Vietnam is more inclined towards attending events and concerts, leading to a surge in demand for event tickets.

Trends in the market: One of the key trends in the Event Tickets market in Vietnam is the shift towards online ticketing platforms. With the increasing penetration of smartphones and internet access, customers are now able to conveniently purchase event tickets online. This has resulted in a more streamlined and efficient ticketing process, benefiting both customers and event organizers. Online ticketing platforms also offer a wider range of events and ticket options, allowing customers to choose from a variety of options. Another trend in the market is the diversification of events and venues. In addition to traditional music concerts and sporting events, there has been a rise in demand for niche events such as comedy shows, theater performances, and art exhibitions. This diversification has opened up new opportunities for event organizers and ticketing platforms to cater to a wider range of customer preferences.

Local special circumstances: Vietnam has a rich cultural heritage and a vibrant arts scene, which contributes to the growing demand for event tickets. The country hosts numerous festivals, cultural events, and international concerts, attracting both local and international audiences. Additionally, the government has been actively promoting tourism and supporting the development of the entertainment industry, further fueling the growth of the Event Tickets market.

Underlying macroeconomic factors: The strong economic growth in Vietnam has played a significant role in the development of the Event Tickets market. With a rising middle class and increasing disposable incomes, more people have the financial means to attend events and purchase event tickets. Moreover, the growing urbanization and infrastructure development in Vietnam have made it easier for event organizers to host larger-scale events and attract a larger audience. In conclusion, the Event Tickets market in Vietnam is witnessing rapid growth due to changing customer preferences, the shift towards online ticketing platforms, the diversification of events, the country's rich cultural heritage, and the underlying macroeconomic factors. This presents a promising opportunity for event organizers and ticketing platforms to capitalize on the growing demand for live experiences in Vietnam.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.