London, 3 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global online movie ticketing service market 2015-2019, which is expected to grow at a CAGR of 10.12% during the forecast period of 2014-2019.
The increasing number of movies released per year is expected to positively impact the prospects for growth in this market. To meet the high demand for movies, many vendors are now adding more screens to their establishments and developing mobile apps that will provide ease of access to the customers. With the increase in adoption of mobile devices, most vendors are now developing apps that will allow users to book tickets online.
“Online screening of movies is a major trend that is expected in the market. With the growth of the filmed entertainment market, more movies are expected to be released every year. These movies can have a big or small budget,” says Faisal Ghaus, Vice President of Technavio.
“Big producers invest heavily to promote their movies; however, producers with a smaller budget invest in a calculative way, which sometimes fails to attract the viewers and therefore they refrain from buying box office tickets. For such movies, viewers prefer watching them at home using DVDs or in a downloaded form.”
Key Market Drivers:
- High Adoption of Smartphones and Tablets
- Improved Internet Penetration
- Growth in Filmed Entertainment Market
- Usage of Mobile Apps
Key Market Trends:
- Increase in M&A
- Migration from Single Screen to Multiplexes
- Online Screening of Movies
- Increase in Service Offerings
Key Market Vendors:
- Bigtree Entertainment Pvt. Ltd.
- Cinemark USA Inc.
- Cineplex Inc.
- MovieTickets.com
- Reliance Mediaworks Entertainment Services Ltd.
- VOX Cinemas
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
