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Sport Events - Asia

Asia

Revenue in the Sport Events market is projected to reach €5.40bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.80%, resulting in a projected market volume of €6.03bn by 2028.
In the Sport Events market, the number of users is expected to amount to 163.0m users by 2028.
User penetration will be 3.5% in 2024 and is expected to hit 3.5% by 2028.
The average revenue per user (ARPU) is expected to amount to €33.68.
In global comparison, most revenue will be generated in the United States (€15,230.00m in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest in Luxembourg.

Key regions: India, Brazil, Germany, South Korea, China

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Analyst Opinion

The Sport Events market in Asia has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Asia have shown a strong interest in participating and attending sport events. The popularity of sports such as football, cricket, basketball, and badminton has contributed to the increasing demand for sport events in the region. Additionally, there is a growing trend of fitness and wellness among the population, leading to a greater interest in participating in sports events as a way to stay active and healthy.

Trends in the market: One of the key trends in the sport events market in Asia is the rise of professional leagues and tournaments. Countries like China, Japan, and South Korea have established professional leagues in various sports, attracting top athletes from around the world and generating significant interest among fans. This trend has not only increased the number of sport events taking place in the region but has also created new opportunities for sponsorship and broadcasting deals. Another trend in the market is the increasing popularity of e-sports events. E-sports, or competitive video gaming, has gained a massive following in Asia, with millions of fans tuning in to watch tournaments and championships. This has led to the organization of large-scale e-sports events in the region, attracting both professional players and enthusiastic spectators.

Local special circumstances: Asia is a diverse region with different countries having their own unique sports cultures and traditions. For example, cricket is immensely popular in countries like India and Pakistan, while martial arts such as Muay Thai and Taekwondo are widely practiced in Thailand and South Korea respectively. These local sports preferences have a significant impact on the types of sport events that are organized in each country.

Underlying macroeconomic factors: The growing middle class in Asia has contributed to the development of the sport events market. As disposable incomes rise, more people are able to afford tickets to sporting events and participate in recreational activities. Additionally, the increasing urbanization and infrastructure development in many Asian countries have made it easier to organize and host sport events. Improved transportation networks and modern sports facilities have attracted international events and tournaments to the region, further boosting the sport events market. In conclusion, the Sport Events market in Asia is experiencing growth and development due to customer preferences for participating and attending sport events, the rise of professional leagues and e-sports events, local sports cultures and traditions, and underlying macroeconomic factors such as the growing middle class and infrastructure development. This trend is expected to continue in the coming years, making Asia an exciting and lucrative market for sport event organizers and stakeholders.

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.