Key regions: France, South Korea, Europe, China, United States
The eSports market in Singapore is witnessing minimal growth, influenced by factors like the increasing demand for merchandise and tickets, along with the growing awareness about eSports among consumers. Online services have also contributed to this trend.
Customer preferences: With the rise of e-sports in Singapore, there has been a noticeable shift in consumer preferences towards more personalized and interactive experiences. This has led to an increase in demand for merchandise and ticketing options that offer unique and exclusive in-game content, as well as access to live events and meet-and-greet opportunities with players and teams. This trend is driven by a desire for deeper engagement with the e-sports community and a growing interest in the cultural and social aspects of the industry. Additionally, the younger demographic of e-sports fans in Singapore has also contributed to the popularity of virtual merchandise and ticketing, as they are more accustomed to digital and online experiences.
Trends in the market: In Singapore, there is a growing trend of leveraging the eSports fanbase to drive merchandise and ticket sales. This is evident through the rise of online marketplaces specializing in eSports merchandise, as well as the organization of live events and tournaments for fans to attend. This trend is significant as it not only generates additional revenue for industry stakeholders, but also solidifies the fan community and creates a sense of belonging. With the increasing popularity of eSports in Singapore, this trend is expected to continue on an upward trajectory, presenting lucrative opportunities for merchandise and ticketing businesses in the market.
Local special circumstances: In Singapore, the Merchandise & Ticketing Market within the eSports Market is heavily influenced by the country's strong technological infrastructure and digital-savvy population. The government's support for the gaming industry and the rise of local eSports teams have also contributed to the market's growth. Additionally, Singapore's diverse cultural makeup has created a unique demand for merchandise and tickets, with different communities supporting different games and players. The country's strict regulations on gambling and prize money in eSports also impact the market, leading to alternative revenue streams through merchandise and ticket sales.
Underlying macroeconomic factors: The Merchandise & Ticketing Market within the eSports Market in Singapore is impacted by macroeconomic factors such as consumer spending, government policies, and economic stability. As a small, open economy, Singapore's economic performance is heavily influenced by global economic trends and trade policies. With a strong focus on technology and innovation, Singapore has a favorable regulatory environment and investments in digital infrastructure, which can drive the growth of the eSports market. However, the limited size of the local market and high costs of organizing large-scale events may present challenges for growth and profitability in the Merchandise & Ticketing Market. Additionally, the current economic downturn caused by the COVID-19 pandemic may affect consumer spending and demand for eSports merchandise and tickets.
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.
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