World
Global Online Event Ticketing Industry to Reach Over US$34.3 Billion by 2025
In a global report on the online ticketing market, it has been found that the global online event ticketing industry is expected to witness huge growth over the next few years. Various major regions of the world such as Europe, the USA, and the Asia Pacific countries are covered in the report. The advancement in technology is the major reason responsible for the high growth in this sector in the years to come.
The online event ticketing market worldwide is going to witness a compound growth of 4.6% to enable it to grow by US$17.4 Billion. Out of all the different categories of events, the highest share of online tickets is enjoyed by music events. And music events show the potential to grow at over 4.5%. The global online event ticketing industry is going to reach over US$34.3 billion by the year 2025 and it will give new opportunities to businesses to witness excellent growth.
More people are purchasing their event tickets online due to the facility to buy tickets at any time. With increasing internet penetration, it has become possible for every person to select his favorite seat in a theatre with a click of a few buttons. In the US, there is a huge demand for the online ticketing in majestic theatre in San Antonio as people are visiting its online platform to buy tickets for various events. Since the websites or portals are opened anytime, it is possible for everyone to buy tickets for events from any location in the world.
One can choose one’s seats at events as per the different prices available on the official websites of different theaters. It is possible to see the available seats on smartphones before bookings and it makes it possible for everyone to do so without visiting the event theaters. Another benefit of using an online event ticketing system is that it helps a person to compare the prices of different tickets on different platforms on their smartphones with ease. This makes it possible for a person to buy discounted tickets without any difficulty.
In addition to this, online ticket booking platforms also give an opportunity for different event managers to promote their event online among people. Many businesses advertise their products and services online on ticket booking platforms to reach a high volume of the audience. The United States is expected to witness a growth of 3.6% and Europe will also contribute to the growth of online ticketing platforms to a significant level. In Europe, Germany will contribute US$616.4 Million over the next 5-6 years and around US$506 million worth of projected demand will come from the rest of the European regions.
The availability of quality services at events has also been a prominent factor in the growth of the online ticketing market across the globe. Music events will be the major contributor to the growth in this sector. Japan will reach the market size of US$1.8 Billion and China is expected to grow at 7.2% over the next couple of years. The content-based events have made it possible for people to come out of their houses in order to watch their favorite shows across the world by booking event tickets online.
World
Turkish Textile Giant Sun Textile Solution Proposal for Drought
While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.
Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.
The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.
CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!
In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.
The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.
R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!
Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.
OFFERING CUSTOM DESIGNS TO CUSTOMERS
Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe.
With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.
Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.
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