Music Tourism Market Scope
Over the years, the travel & tourism industry experienced a tremendous expansion. Traveling has become a lifestyle for a huge portion of the population, especially the bloggers & Instagrammers. Traveling with a reason has given rise to numerous different sorts of tourism. Tourism such as music tourism, fashion, sports, and food tourism is trending these days. The love for music and travel has together coordinates into music tourism. Traveling from city to city, or state to state, or country to country or even crossing international borders to enjoy music concerts, makes the traveler a part of music tourism. It is a dynamic industry which is impacted by worldwide patterns and lifestyle. Each year, many music fests attract visitors from all around the world. Globalization has made this possible for the tourism industry to take advantage of prevailing music patterns among individuals.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Tomorrow Land (Belgium), Lollapalooza (United States), Levitation (United States), Boston Calling (United States), Sunburn (India), Wacken Music Festival (Germany) and Bonnaroo (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Music Tourism market throughout the predicted period.
Tomorrow Land (Belgium), Lollapalooza (United States), Levitation (United States), Boston Calling (United States), Sunburn (India), Wacken Music Festival (Germany) and Bonnaroo (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Music Tourism market by Type and Region with country level break-up.
On the basis of geography, the market of Music Tourism has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Influencing Trend:
Bands can be Seen Performing at Various Places and Making Many Followers Worldwide
Market Growth Drivers:
Rise in the Number of National and International Events, Concerts, Carnivals, Music Concerts, Performance of International and National Singer, Changing Lifestyle and Fair Deals, Discounts from Airlines, and Many Lucrative Offerings
Challenges:
Covid-19 Impact
Restraints:
High Cost of Ticket
Opportunities:
Association between International and National Singers and Clubs, Hotels and Restaurants
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries