Merchandise & Ticketing - Nigeria

Nigeria

Highlights

In Nigeria, revenue in the Merchandise & Ticketing market market is projected to reach US$96.8k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.14%, resulting in a projected market volume of US$130.3k by 2029.
Although most revenue in the Merchandise & Ticketing market market is generated China, Nigeria's market is also significant.
In the Merchandise & Ticketing market market, the number of users in Nigeria is expected to amount to 210.5k users by 2029.
User penetration will be 0.1% in 2024 and is expected to remain at 0.1% by 2029.
The average revenue per user (ARPU) in Nigeria is expected to amount to US$0.5.
Nigeria's burgeoning eSports scene is driving significant interest in merchandise and ticketing, reflecting the country's youthful demographic's increasing engagement with competitive gaming.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The eSports market in Nigeria is experiencing subdued growth, impacted by factors such as limited awareness and infrastructure for online ticketing and merchandise sales. Despite this, the market is expected to grow due to increasing interest in eSports and investments in digital technologies.

Customer preferences: As eSports gains popularity in Nigeria, there has been a significant increase in demand for merchandise and tickets for events. This trend is driven by the growing interest and engagement in the sport among younger demographics. With the rise of social media and influencer culture, fans are also seeking exclusive and limited edition merchandise to showcase their support for their favorite teams and players. This has led to a shift towards online purchasing and the use of digital platforms for ticketing, making it more convenient for consumers to access and purchase merchandise and tickets.

Trends in the market: In Nigeria, there is a growing interest in merchandise and ticketing within the eSports market. This is largely due to the increasing popularity of gaming tournaments and events in the country. As a result, there is a surge in demand for official merchandise and tickets for these events. This trend is significant as it shows the potential for the eSports market to become a major revenue stream in Nigeria. It also presents opportunities for industry stakeholders such as event organizers, game developers, and merchandise retailers. With continued growth and investment in the eSports market, there is potential for the industry to become a major contributor to the Nigerian economy.

Local special circumstances: In Nigeria, the Merchandise & Ticketing Market within the eSports Market is influenced by the country's large and youthful population, with a growing interest in gaming and competitive events. Additionally, the country's rapid digitalization and increasing internet penetration have led to a rise in online purchasing of merchandise and tickets for eSports tournaments. The market is also impacted by cultural factors, such as a preference for local teams and players, as well as regulatory challenges in terms of payment options and online security.

Underlying macroeconomic factors: The Merchandise & Ticketing Market within the eSports Market in Nigeria is heavily influenced by macroeconomic factors such as the country's economic growth and stability, government policies and regulations, and international economic trends. As the Nigerian economy continues to grow and diversify, there is a growing demand for entertainment and leisure activities, including eSports. Additionally, the government's support for the digital economy and investments in technology infrastructure have created a favorable environment for the growth of the eSports market in Nigeria. However, challenges such as limited disposable income and internet connectivity in certain regions may hinder the growth of the Merchandise & Ticketing Market within the eSports Market in Nigeria.

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.