Merchandise & Ticketing - Colombia

Colombia

Highlights

In Colombia, the revenue in the Merchandise & Ticketing market market is projected to reach US$113.2k in 2024.
This revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 5.28%, leading to a projected market volume of US$146.4k by 2029.
While most revenue is generated China, Colombia's market is also expected to see significant figures, with a projected market volume of US$88.8m in 2024.
By 2029, the number of users in the Merchandise & Ticketing market market in Colombia is expected to amount to 138.9k users.
User penetration is projected to be 0.2% in 2024 and is expected to increase to 0.3% by 2029.
The average revenue per user (ARPU) in this market is anticipated to amount to US$0.9.
Colombia's eSports merchandise and ticketing market is rapidly evolving, reflecting a growing youth engagement and increased investment in local gaming events.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The eSports market in Colombia is experiencing minimal growth due to factors such as limited market awareness and lack of infrastructure. Despite this, the merchandise and ticketing sector shows potential with increasing adoption of digital technologies and growing interest in eSports among consumers.

Customer preferences: As the eSports industry continues to gain popularity in Colombia, the demand for merchandise and tickets is also seeing significant growth. Consumers are now looking for personalized and exclusive merchandise, with a focus on sustainable and ethical production. Additionally, there is a growing trend towards virtual ticketing and livestreaming events, catering to a younger audience who prefer to experience events from the comfort of their own homes. This shift towards digital solutions is also driven by the need for contactless transactions and safety during the ongoing pandemic.

Trends in the market: In Colombia, the Merchandise & Ticketing Market within the eSports Market is experiencing a surge in online sales and virtual events due to the COVID-19 pandemic. This trend has accelerated the shift towards digital ticketing and merchandise purchases, providing a wider reach for industry stakeholders. Additionally, there has been an increase in collaborations between eSports organizations and traditional sports teams, leading to cross-promotion and potential growth opportunities. As the eSports industry continues to grow in popularity, the significance of these trends in enhancing fan engagement and increasing revenue cannot be overlooked. However, maintaining the balance between physical and digital experiences will be crucial for industry stakeholders to ensure a sustainable future for the Merchandise & Ticketing Market within the eSports Market.

Local special circumstances: In Colombia, the Merchandise & Ticketing Market within the eSports Market is heavily influenced by the country's strong passion for sports and gaming. The market is also shaped by the country's unique geographical landscape, with a large rural population and limited access to traditional sporting events. Additionally, the government's support for eSports and the rise of local teams have contributed to the growth of the market. In contrast, in other markets, such as the US, the market is driven by the popularity of professional gaming leagues and the availability of high-speed internet.

Underlying macroeconomic factors: The Merchandise & Ticketing Market within the eSports Market in Colombia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The growth of this market is closely tied to the overall economic health of the country, as a strong economy leads to increased consumer spending and investment in entertainment and leisure activities. Favorable fiscal policies, such as tax incentives for businesses in the eSports industry, can also drive market growth. Additionally, the increasing popularity of eSports worldwide and the rise of online streaming platforms have created a global demand for merchandise and tickets, further fueling the market's growth in Colombia.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Merchandise & Ticketing market, which comprises revenues from ticket or merchandise sales relating to live Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.