Event Tickets - Zambia

Zambia

Revenue in the Event Tickets market is projected to reach US$5.93m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.52%, resulting in a projected market volume of US$6.55m by 2028.
The Sport Events market has a projected market volume of US$2.51m in 2024.
In global comparison, most revenue will be generated in the United States (US$36,260.00m in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$11.28 in 2024.
In the Event Tickets market, the number of users is expected to amount to 638.1k users by 2028.
User penetration in the Event Tickets market will be at 2.5% in 2024.

Key regions: Germany, India, China, Europe, Japan

Market

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Currency

Analyst Opinion

The Event Tickets market in Zambia is experiencing significant growth and development in recent years.

Customer preferences: Zambian consumers are increasingly interested in attending various events and entertainment activities, leading to a growing demand for event tickets. The younger generation, in particular, is driving this trend as they seek out unique experiences and opportunities for socializing. Additionally, there is a growing interest in international events and concerts, which has further fueled the demand for event tickets.

Trends in the market: One of the key trends in the Event Tickets market in Zambia is the increasing popularity of live music concerts and festivals. Zambians have shown a strong affinity for music, and the rise of local and international artists performing in the country has attracted a large audience. This has resulted in a surge in ticket sales for music events, with fans eagerly purchasing tickets to see their favorite artists perform live. Another trend in the market is the growing demand for sports event tickets. Football is the most popular sport in Zambia, and there is a passionate fan base that supports local teams and international matches. The excitement and energy surrounding these events have led to a high demand for tickets, with fans willing to pay a premium to secure their seats.

Local special circumstances: Zambia's growing middle class and improving economy have contributed to the development of the Event Tickets market. As disposable incomes increase, more people have the financial means to attend events and purchase tickets. Additionally, the government has made efforts to promote tourism and attract international events to the country, further boosting the demand for event tickets.

Underlying macroeconomic factors: The stable economic growth in Zambia has created a favorable environment for the Event Tickets market to thrive. With a growing middle class and increasing disposable incomes, consumers have more spending power to allocate towards entertainment and leisure activities. This has resulted in a higher demand for event tickets as people seek out unique experiences and entertainment options. Furthermore, the government's focus on infrastructure development, such as the construction of modern event venues and stadiums, has also contributed to the growth of the Event Tickets market. These improved facilities attract both local and international events, creating more opportunities for consumers to attend various types of events and purchase tickets. In conclusion, the Event Tickets market in Zambia is experiencing significant growth and development due to increasing consumer preferences for unique experiences, the popularity of live music concerts and sports events, the country's growing middle class, and the government's efforts to promote tourism and improve infrastructure. As these trends continue, the market is expected to further expand in the coming years.

Methodology

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.